US dollar oversold in yesterday’s FX market rallyThe Euro/dollar pair had a great FX market rally yesterday, but today things are changing. Many feel that the US dollar was oversold in currency trading yesterday, and are now increasing the demand for greenbacks.
Additionally, some are worried that the troubles that have been plaguing the US will soon spread to Europe, and this could be slowing demand for the euro in forex trading as well.
See AlsoEuro/Dollar Pair on the FX MarketForex trading on the currency market (more…)
Greenback down in currency trading on the FX marketThe US dollar is down in forex trading on the currency market this morning. This fall in the greenback comes after a brief period of gains in currency trading on the FX market on profit taking. Bloomberg reports on the outlook for the US dollar in forex trading:
“There are further declines ahead for the dollar,'’ said Antje Praefcke, a Frankfurt-based currency strategist at Commerzbank AG, Germany’s second-largest bank. “The U.S. is probably facing a recession and the Fed will cut ra (more…)
Greenback up in currency tradingThe US dollar is back up in currency trading on the FX market this morning as commodities drop and some confidence returns to the US economy after all of the Fed’s efforts last week. The US dollar is gaining against the euro and the yen, especially this morning. Reuters reports on the success of the US dollar in forex trading:
The dollar strengthened broadly on Monday, extending gains into a fourth session as investors unwound large bets in commodities to square up positions across a range of asset class (more…)
Forex trading with the greenbackThe US dollar is having a bit of a rally in currency trading on the FX market. This comes as commodities drop on profit taking, spuring gains in forex trading for the greenback. The Associated Press reports on US dollar rates:
The euro fell to $1.5448 from $1.5613 late Wednesday in New York.
Other dollar rates compared with late Wednesday in New York included: 99.92 Japanese yen, down from 100.00; 1.0150 Swiss francs, up from 1.0009, and 1.0226 Canadian dollars, up from 1.010 (more…)
