FOREXYARD News Center

Daily Analysis

Dollar Soars as its Global Reserve Currency Status Returns to the Forefront

Friday, 3 Jul 2009 07:26:06 GMT

The Dollar soared yesterday against most of its currency pairs, as its global reserve currency status returned to the forefront. This was due to weak U.S. unemployment figures, as Unemployment in the U.S. rose far higher than analysts had forecast. This spurred demand for safe-haven currencies, such as the USD and JPY. As a result of the strong USD, Crude Oil prices also tumbled. Today, investors should continue trading the USD, EUR, JPY, and Gold, as large profits will be made on market volatility.

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New York Close Forex Update

Dollar Gains over Worse than Expected Employment Data

Thursday, 2 Jul 2009 20:34:07 GMT

The Dollar rose against most of its major currency counterparts Thursday following the release of worse than expected June U.S Non Farm Employment Change report. The report showed employers cut 467,000 jobs in June, compared to the expected 350,000 by economists. The weak report renewed concerns about the pace of the world economic recovery turning investors away from riskier currencies and commodities.

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Afternoon Forex Update

Trade Now! Major Currencies Anticipate Heavy Volatility

Thursday, 2 Jul 2009 10:21:36 GMT

As the US prepares to open its markets there are a number of economic events scheduled which will likely intensify the market's recent volatility. Scheduled first is the Euro-Zone's decision regarding its Minimum Bid Rate (short term interest rates), followed by a press conference by the European Central Bank (ECB). There is speculation that a quantitative easing program will either be implemented or discussed, which may devalue the EUR in the short-term.

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In Depth Currency Analysis
USD Daily NewsEUR Daily News
Dollar Gains on U.S. Unemployment Data  EUR Tumbles on Interest Rate Decision 
JPY Daily NewsCommodity Daily News
Yen Benefits from Safe-haven Status  Crude Hits 1 Month Low on Rising U.S. Unemployment 

Forex Blog by FOREXYARD

Friday, 3 Jul 2009

• Below are the hourly chart and 4-hour chart for the USD/ZAR.

• The indicators used are the Slow Stochastic, RSI, and MACD.

Current Time: 07/05 01:57 GMT
DateTime$€£¥EventPer.Prev.Fore.Act.Imp.
07/0509:45EUR+ ECB President Trichet Speaks***3
07/0600:30AUD+ MI Inflation Gauge m/m-0.3%--1
01:30AUD+ ANZ Job Advertisementsm/m-0.2%--3
05:00JPY+ Leading Indicators 76.2%77.0%-1
08:30USD+ Sentix Investor Confidence-27.0--1
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