The EUR/USD has taken advantage of its relative strength on Friday stemming from ECB President Trichet’s hawkish comments. The currency pair has since jumped back up to its highly psychological 1.50 level after of a wave of Flash PMI data that was altogether positive. Therefore, it seems the recovery in…
Tag Archives: currency
Japanese Yen Nears 5-week Peak on Potential Changes to Capital Requirements
The Japanese Yen traded close to a 5-week peak versus the U.S. Dollar on speculation that there is growing pressure on Japan’s banks to raise capital. As reported at 6:51 a.m. (GMT) in London, the Yen was trading at 89.15 Yen against the U.S. currency, off of yesterday’s peak of 88.74 Yen in New York.
Australian Dollar Establishes 15-month High on Positive Data
Buoyed by better than expected jobs data and firmed commodity prices, the Australian Dollar reached a new 15-month high versus the U.S. currency in Asian trading today.
On Balance Volume in Forex Trading
On balance volume was coined by Joe Granville in his book, New Key to Stock Market Profits, in the year 1963. It is a momentum indicator that measures the positive and negative volume flow and relates volume to price change. The indicator is based on the idea that volume precedes price. It measures the sum total of the volume indicating whether the money is flowing in or out of the currency.
JPY Loses Ground vs Every G10 Currency Besides the Dollar
The Yen has lost ground to every other currency in the G-10 except the Dollar, since March of 2009. The BOJ has always favored a weak currency as it supports their large export business which accounts for over 20% of their GDP.