The dollar has been a bit mixed these last couple of days with the EUR/USD continuing to climb while the dollar has found a bit of strength against the JPY and the CHF.
We saw the EUR/USD climb to almost 1.42, but fell short at "just" 1.4190. After some mixed news this morning from NY, the Euro lost a bit of those gains and fell to around 1.4135. This pair seems to have lost some of its momentum from last week, but it's certainly not falling yet. Look for it to continue to test, and possibly jump past, the 1.4200 mark before the week is over.
The strength we're seeing against the yen is across the board, with all the majors making gains. The USD/JPY is falling within a tighter and tighter range these last couple of weeks and we can expect some sort of break soon. If the yen continues to fall over the next couple of weeks, this may be a sign that investors have regained a bit of confidence and are downplaying the perceived risk of this last month or so. It should be an interesting time...as forex usually is!
Happy Trading!!! |
After taking a bit of a breather on Monday, the Euro has regained its strength today against the dollar rising to a new record high of 1.4155. Existing home sales came in as expected at 5.50M but this level is at a five-year low. Consumer confidence came in lower than expected, hitting a two-year low of 99.8, down from the expected 104.5.
The dollar has also dropped against other currency pairs. The GBP/USD is up to around 2.02 while the USD/CHF plummeted to 1.1640.
The carry trade pairs fell during London hours with the GBP/JPY hitting a low of 229.80 but rebounded during the NY session, heading back up to about 231.40 before bouncing around the 230.50 to 231.00 level for the rest of the morning.
Happy Trading!!! |
Yet again we've seen EUR/USD hit records highs as it creeped up to 1.4120 during the London session. It's cooled off just a bit since then, falling slightly below 1.4100 but still showing no signs of letting up.
The dollar has shown a bit of strength against the yen, slowly moving up into the 115.50 range, but still shows weakness in other areas. This is most evident against the now powerful loonie. The USD/CAD actually dipped below 1.00 briefly and is now just about stuck at 1.00. It will be very interesting to see what happens in the next couple of weeks with this pair.
Happy Trading!!! |
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