by R. MAK. on November 24, 2009 · 0 comments
in Business, Currency Trade, Economic Conditions, Forex Market, Forex News, Forex trading, Trading, currency, economy, investment
On Tuesday the euro rise against the dollar, reversing earlier losses as a firmer-than-expected German sentiment survey offset concerns about the country’s banking sector.
Rise in the German Ifo
A bigger-than-expected rise in the German Ifo November business climate index has helped the euro. The index rose to 93.9, a level that has not seen since the collapse of Lehman Brothers last year. This has lifted optimism that Germany’s recovery can gain momentum.
Euro
After falling as low as $1.4889 by 1239 GMT, the euro EUR= was up 0.1% at $1.4975. On Monday it hit a one-week high of $1.5001 but has recently struggled to hold above $1.50.
Traders cited options with a strike price of $1.5000 and $1.5050 which were set to expire later in the day.
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by R. MAK. on November 23, 2009 · 0 comments
in Business, Currency Trade, Economic Conditions, Forex Market, Forex News, Forex trading, News, Trading, currency, economy, gold prices
On Monday the euro has shown some advancement, hovering near the $1.50 level in New York trading as demand for the greenback has been hurt by the comments from a Federal Reserve official.
Greenback’s gains reversed
The remarks helped in encouraging a broad rally in global stocks, oil, gold and higher-yielding currencies that reversed the greenback’s gains from late last week.
Position of Major Currencies
In New York on Monday morning, , according to EBS via CQG the euro was at $1.4988 from $1.4851 late Friday. It has been noted that the dollar was at Y88.80 from Y89.00, whereas the euro was at Y132.97 from Y132.26. The U.K. pound was at the position of $1.6621 from $1.6491. The dollar was at CHF1.0089 from CHF1.0183.
The Dollar Index
The Dollar Index, was at 75.024 from 75.647. This index tracks the greenback against a trade-weighted basket of six currencies.
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