FOREXYARD: Forex News Blog |  |
- JPY Levels Out After Losses
- Crude Oil Stabilizing
- Debt Crisis Saga Continues
- USD on the Rise
- Gold and Silver Drop Sharply
| Posted: 01 Mar 2012 08:24 AM PST The USD/JPY stabilized around 81.16 Thursday afternoon after the dollar made a huge jump on the Japanese currency today. Just as the greenback made huge gains against the euro following comments from Fed Reserve Chair Bernanke indicated that a new stimulus package would not be necessary. The greenback is also bouncing off of the Bank of Japan’s monetary easing move that since being implemented weeks ago has set off a downward trend with the yen. While the USD/JPY does seem to be stable for now, analysts have not yet expressed confidence that the yen has fully bottomed out following the measures taken by the BoJ. Traders should note that heavy fluctuations are predicated next week as a batch of significant U.S. news is forecasted to be released. Positive indicators may cause the yen to extend its recent bearish trend. Read more forex news on our forex blog.       |
| Posted: 01 Mar 2012 07:58 AM PST Crude oil values leveled out on Thursday as overall demand for the commodity is still relatively high. The last two days saw a steep drop in crude oil values as investors were concerned with the ongoing crisis with Iran as well as decreasing demand for oil from the U.S. The most recent numbers show Brent crude oil is trading at 107.66 after falling as low as 104.80 on Wednesday night. Heading into next week, traders should be aware of the U.S. releasing the Non-Farm Employment Change figure. This does raise the possibility of increasing the overall volatility of the market. Read more forex news on our forex blog.     |
| Posted: 01 Mar 2012 07:51 AM PST This afternoon the Greek parliament approved a series of measures meant to reduce its debt and increase the confidence of euro-zone economies that are preparing to approve the final stages of the second bailout package. Greek parliament pushed through 3.2 billion euros of spending cuts that will reduce budgets for health care, welfare, and pension plans. These cuts will certainly do nothing to quell overall discontent amongst the Greek public, however, these measures have found favor with top EU finance ministers. EU ministers are gathered in Brussels this afternoon in order to work out the final contours and approval of the second Greek bailout package. Essentially, the package has already been approved. What remains are the last details for ministers to work out. Given the overall upsurge of the USD, the possibility of this making a huge impact on the euro could remain slim. As this story progresses, we’ll keep an eye on how this affects the market. Read more forex news on our forex blog.     |
| Posted: 01 Mar 2012 03:10 AM PST As of this morning the EUR/USD is hovering around 1.3333. The USD made gains of 147 pips during the night before the euro was able to recoup some of its losses. Heading into today, traders will want to keep an eye on U.S. manufacturing numbers and unemployment claims that are set to be released. These numbers will be another strong indicator of overall financial health for the U.S. economy. Should these announcements further indicate growth in the U.S. economy, there is a possibility that the USD could see further gains. Read more forex news on our forex blog.     |
| Posted: 01 Mar 2012 02:49 AM PST As the USD turned bullish during Asian trading, gold and silver dropped significantly as traders moved their investments away from riskier commodities. Gold has regained a bit of ground this morning after dropping close to 5% last evening. As of this morning, gold has picked up 1.5% and is so far stabilizing around $1722.35. Silver also took a sharp drop from 37.36 to 34.01 during late night trading. At the moment, it has steadied around 34.98. Read more forex news on our forex blog.     |
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