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Euro, Yen Trend Likely to Continue Next Week

James A. Hyerczyk — Fri, 10 Jul 2009 17:29:00 EST

Both the Japanese Yen and Euro were in the spotlight on Friday. Both are being affected by the same news but both are moving in opposite directions versus the Dollar.

Will GBP USD Resume Uprend?

James A. Hyerczyk — Thu, 09 Jul 2009 18:24:00 EST

After a six-day sell-off, the British Pound is finally attracting buyers. Fundamentally this market has been getting beat-up since June 30th when an economic report showed that the U.K. economy had its worst quarter since 1958.

GBP USD Poised to Retrace to 1.6362

James A. Hyerczyk — Thu, 09 Jul 2009 06:39:00 EST

Traders are calling for a higher opening in the GBP USD this morning. Overnight strength in European and Asian equity markets is helping to increase trader demand for higher risk assets.

Speculators Face Off Against Swiss National Bank

James A. Hyerczyk — Wed, 08 Jul 2009 07:56:00 EST

The USD CHF is called flat this morning based on tight overnight trading. This should come as no surprise because this market has been in a tight range for several weeks.

Is USD CAD Rally Nearing Completion?

James A. Hyerczyk — Tue, 07 Jul 2009 17:36:00 EST

Lower equity prices and crude oil have been helping to support the USD CAD, but a nearby resistance level is preventing this currency pair from rallying sharply higher. Although it is unclear fundamentally why this market is stalling from rallying up to its main upside target at 1.1922, it is clearly not attracting the buying power that it saw over the past month.

GBP USD May Retrace Once More for New Shorts

James A. Hyerczyk — Mon, 06 Jul 2009 18:10:00 EST

The U.S. Dollar traded substantially higher as trader appetite for risk diminished amid news that the global economy would recover at a much slower pace than previously estimated. Furthermore, news that China, Russia and India are prepared to introduce a proposal to the G-8 that calls for a central bank reduction of Dollars kept in foreign currency reserve.

Traders Bailing on USD JPY

James A. Hyerczyk — Mon, 06 Jul 2009 07:12:00 EST

The USD JPY is plunging to the downside overnight for a couple of reasons. The first and main reason is flight-to-safety. The second reason is the call for nations to diversify away from the U.S. Dollar.

Strong Dollar Likely to Influence Commodity Markets

James A. Hyerczyk — Fri, 03 Jul 2009 20:43:00 EST

Forex traders may want to take a look at the futures markets for a clue as to the direction of the Dollar. Gold is definitely a good inverse indicator of the direction of the Dollar. Crude Oil is often associated with the Euro and the Canadian Dollar. Equity markets usually move inverse with the Japanese Yen. Treasury futures are good indicators of the direction of interest rates which influence all currencies.

The Canadian Dollar, Australian Dollar and New Zealand Dollar are often called the commodity currencies.

Random Thoughts to Help De-Stress or Un-Stress

James A. Hyerczyk — Sat, 09 May 2009 22:30:00 EST

Since stressing out over the stress tests the last 10 days many traders are probably ready to de-stress or un-stress. Sometimes this can be accomplished by just typing up random thoughts just to get the creative juices flowing again.

Stress Test Speculation Creates Volatile Situation for U.S. Dollar

James A. Hyerczyk — Fri, 24 Apr 2009 17:15:00 EST

U.S. banks received their preliminary results from the Fed's recent stress tests and now have 10 days to address any major capitalization problems. This 10 day period opens the door to the possibility of wild speculation over which bank has sufficient capital and which does not. Any hint of substantial banking problems is likely to send Forex traders flocking to the U.S. Dollar.