In October of 2008, during the height of global financial crisis, FED opened temporary currency swap lines with other central banks around the world. It was one of the measures taken by financial authorities to provide liquidity to the system during tu…
The Fed met this week on monetary policy. It was a bit of a snoozer. What wasn’t a snoozer, however, was what they’ve included in their recent monetary policy statements regarding currencies.
The U.S. Dollar closed out the month of January sharply higher as aggressive buyers helped the Greenback surge to the upside following Friday morning’s better than expected U.S. GDP report. The report which blew out forecasts encouraged traders to bu…
There was a sharp move intraday in EUR/CHF that smells like intervention…but was it? SNB member Hildebrand and the Bank of International Settlement has declined to comment on the move in the Swiss Franc. The first chart shows today’s price action i…
The U.S. Dollar is slightly better against a basket of currencies this morning after trading in a tight and narrow range overnight. Trading action was subdued as investors await this morning’s key U.S. GDP data. The Dollar is trading higher versus th…
The Japanese Yen rose on Thursday as investors shifted assets out of the troubled Euro Zone on renewed budget turmoil in Greece. A spike in the cost to insure Greece’s sovereign debt triggered a flight to safety rally which fueled a turnaround in the …
Over the past few trading days, the British pound has been confined to a very tight trading range. The following chart illustrates the predicament that GBP/USD traders find themselves in right now and I believe that the breakout will be to downside wit…
Interest rate decisions from the two central banks yesterday didn’t produce any surprises. FED has left its benchmark unchanged at 0%-0.25% target, while Reserve Bank of New Zealand stayed with the current 2.5%.
With the futures on a bullish trajectory following President Obama’s State of the Union speech, this seems like an opportune time to reflect on the 67 point (5.9%) fall in the S&P 500 index over the course of the last six days.
Following signals from the U.S. Federal Reserve that American interest rates may be increased sooner then expected, the U.S. Dollar got a significant boost in trading last night and in the early morning today. Today, a full set of Dollar related news e…