FOREXYARD: Forex News Blog | |
| Posted: 27 Feb 2012 08:42 AM PST
For the second straight day gold has experienced a drop in value. Gold has fallen 0.4% for the month of April. Analysts expect this to be a momentary reprieve in the overall strength of gold. For the year, gold has continued on its upward trend and is remaining consistent with its traditional growing strength. This year marks the 11th consecutive year that the value of gold has increased. This past year has seen a 10% increase alone. |
| Posted: 27 Feb 2012 07:12 AM PST
After consolidating gains over the last five days, crude oil has hit a bump in the road. As of this afternoon, crude oil is down 1.5% and is trading right around $109.09. With the euro-zone economy still struggling and demand for crude oil from the U.S. dwindling, the commodity is finding itself at a lower value than what many expected last week. In addition to this, China is also going through a drop in demand as of late. Perhaps in response to the contraction that it’s manufacturing sector has been dealing with as of late. As the afternoon unwinds, be mindful of these factors when watching the value of oil. Read more forex news on our forex blog. |
| Posted: 27 Feb 2012 05:34 AM PST
The U.S. received good news late last week with word that new home sales numbers exceeded what most analysts predicted. The overall effect on the forex market was relatively muted. As mentioned earlier, the JPY has already been on a downward fall while the euro has actually been holding its ground against the greenback. As of this afternoon, the EUR/USD is trading around 1.3402. Nevertheless, the news of more home sales in the U.S. is an excellent sign for the ongoing economic recovery. The housing sector was amongst the hardest hit during the 2008 financial meltdown and signs of its recovery are more than welcome. The rest of this afternoon will be fairly quiet in terms of news. We will receive more news from the U.S. regarding pending home sales. Once again, this should be taken as an overall indication of U.S. economic well-being. Read more forex news on our forex blog. |
| Posted: 27 Feb 2012 04:58 AM PST
The Japanese yen was driven down further as of today. Last week we saw a brief reprieve in the downward tumble the yen has been taking but today the yen’s fall continued. The USD has continued its streak against the yen, hovering around 80.60 as of this afternoon. The Bank of Japan’s decision to weaken the yen by injecting millions of yen into the Japanese economy seems to be having the expected effect. However, the predicted support levels have yet to surface for the USD/JPY. As the afternoon unfolds, keep an eye on whether or not the JPY can reclaim some of its losses. Read more forex news on our forex blog. |
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