Forexyard News Center

New York Close Forex Update
USD Still Rising; Oil Plummets towards $75 a Barrel
Thursday, 21 Jan 2010 20:24:17 GMT

Today's market movements fell in line with many of today's expectations. Given the series of negative data releases from Europe over the past few weeks, not many analysts were expecting today's manufacturing and services figures to improve the situation. European data fell short of expectations, leading the EUR to continue declining against many of its major counterparts.
Full article | Forex News Archive

Afternoon Forex Update
Chinese GDP Results Lead to Dollar Gains
Thursday, 21 Jan 2010 14:10:52 GMT

The U.S. Dollar received a considerable boost in trading today, as persistent concerns regarding Greece's debt management as well as China's economic growth brought investors to the greenback. The European Commission remains adamant that no additional financial assistance will be provided to Greece. At the same time, Portugal has been warned regarding its ballooning budget deficit. EUR/USD has continued its downward trajectory and is currently trading around the 1.4075 level.
Full article | Forex News Archive

Daily Analysis
USD and JPY Continue to Rise as Stocks Decline
Thursday, 21 Jan 2010 07:43:47 GMT

American and European stocks traded lower this week due to risk aversion among traders, and this has helped support the Dollar's resurgence. With a EUR-heavy news day ahead of us, the USD may take a back-seat during the morning hours. A slew of positive releases from the Euro-Zone could allow us to see a rebound in a few of the major pairs. On the other hand, if Europe's data falls short of expectations, traders should anticipate a continuation of the bullish run in the USD.

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Wave analysis of the USD/JPY currency pair for January 15, 2010 2010-01-15

Having described the assumed fourth b c wave at the USD/JPY currency pair chart, the yen continued to move to the significant level of 90.55. Because of it, it is possible to expect the price uptrend and the first waves of a new cycle of the US dollar strengthening formation after probable workout. At the same time, we should pay attention on variant, according to which the US dollar will strengthen further. This possible situation development will slight change the current wave situation, which has existed since January 4 and can lead to the price sideways movement.

Regards,
analyst A. Dneprovskiy

Forex analysis review:

We present you the daily updated analysts' section, which is conducted by the professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical surveys in accordance with his vision of the current situation at the international Forex market. However, all represented below reviews are not straight recommendations or reason for the actions, but they contain exclusively the analysis of the current situation at the currency market. In certain cases the analysts' opinions to any changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation at the international Forex market.

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