Tuesday April 25, 2006 - 22:57:23 GMT
Share This Story
Tricom Futures and Foreign Exchange -
Forex: What will save the USD this time??
The dollar slipped to seven-month lows against the euro on Tuesday after comments from European Central Bank officials left open the possibility
that euro zone interest rates could meet or even exceed market expectations. ECB executive board member Jose Manuel Gonzalez-Paramo left
open the possibility on Monday that the pace of policy tightening by the central bank could increase.
Earlier on Tuesday, ECB Vice President Lucas Papademos for the first time acknowledged that interest rates might be increased at least twice more this year.
U.S. consumer confidence reached its highest level in four years in April by rising 2.1 points to 109.6 from the revised 107.5 in March
Sales of existing homes rose unexpectedly by 0.3% in March to a seasonally adjusted annual rate of 6.92 million.
The dollar is on its own now ... yields and stocks have gone their own way, and now the dollar will too. The EUR/USD and USD/CHF continue to converge.
Monitor these 2 crosses as we appraoch 1.2500. Should they crossover, then we can expect the USD's slide to accelerate, and 1.3000 could again be a
possibility for the EUR/USD.
Today's Economic Release:
US: Durable Goods
US: New Home Sales
US: Beige Book
Today's Top Trades
- Buy EUR/USD around 1.2410, with stops under 1.2365
For more ideas send me an email, firstname.lastname@example.org
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."