The U.S. Dollar extended its losing streak against other major currencies, for a fourth consecutive week, as traders await to get some clarity over the Fed's decision for continuing its massive bond-buying program, consisting of $85 billion monthly asset purchases, from this week's policy meeting scheduled on June 18-19.
FOMC Decision - This week’s two-day FOMC meeting, scheduled to begin on Tuesday, will be of particular interest. FOMC will release its policy decision on Wednesday. Equally important is the Fed Chairman Ben...
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Fundamental Analysis
Gold prices: Liquidation continues
June 14, 2013 - 15:59
Gold prices are trading near $1384, heading for the third weekly decline as continued selling by Exchange Traded Products (ETPs) and improving economics at US supported the bearish sentiment. The yellow metal fell almost 17% since the start of the year and it is near 28% below its highest price of $1,921 in September 2011. The prices are up near 5% from $1,321.52, its lowest level in a year which forced the metal to enter into bear market.
Heavy selling pressure by large investors kept on pressurizing gold prices. Investors have...
What led to a sharp sell-off for the U.S. Dollar?
June 13, 2013 - 14:01
Going back to May 22 when Fed Chairman Ben Bernanke, in his congressional testimony, hinted that the U.S. central bank could decide to scale back the pace of its massive bond-buying program (consisting of $85 billion monthly asset purchases) "in the next few meetings" depending on the incoming economic data.
Talks of tapering asset purchases should be positive for the dollar. However, the U.S. Dollar Index (I.USDX), that measures USD's moves against six other major currencies, since then has dropped over 4% as recent...
Weaker economic indicators continued pressing down US Dollar
June 10, 2013 - 14:31
Last week US Dollar witnessed the third consecutive weekly decline against Euro, fuelling EURUSD pair to test 1.3299, the highest level since February 25th. Pessimism generated by sluggish ADP Employment figure, weaker ISM Manufacturing and higher Unemployment Rate were strong enough to tame optimistic Nonfarm Payrolls. Global Central Bankers including Reserve Banks of Australia, European Central Bank and Bank of England held their benchmark interest rates intact with unchanged monetary measures. Australian GDP grew at the same pace of 0.6...
All eyes on market moving U.S. jobs report
June 07, 2013 - 13:59
On Thursday, the U.S. Dollar plunged against other major currencies after comments from ECB President Mario Draghi indicated that although ECB is "technically ready" to move the deposit rate into negative territory; however, that isn't imminent in the near future. The European Central Bank (ECB) and the Bank of England (BoE) on Thursday, kept their key benchmark interest rates unchanged and left other monetary policy measures untouched.
Further, a series of recent weaker U.S. economic data, supporting speculations...
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