Forex Currency Trading Today

Forex Trading and Currency Exchange Rates - Crude Oil and Gold Prices Slide – Silver Higher

usd/jpy chart

(Best Syndication News) Gold prices turned around after the session close while the dollar gained versus the euro but slipped versus the yen (see the forex and futures charts below). Stock markets around the world are opening higher as confidence builds on good economic indicators.

The German Parliament passed the Greek bailout agreement providing even more optimism in the equity markets. Germany is the largest industrialized nation and most affluent country in the eurozone. Their decision played a big role in the rally early Tuesday.

Forex Trading and Currency Exchange Rates – USDJPY and EURUSD Higher

EUR/USD graph

(Best Syndication News) The Japanese yen suffered as the euro gained in value (see the forex charts below). Stock markets in Europe are opening lower after a mostly down-day in Asia.

Lawmakers in Europe will be voting this week on the Greek bailout agreement. The euro has benefited by the accord reached between European Finance Ministers, the International Monetary Fund, and the European Central Bank (ECB) last week (troika). Lawmakers in Greece have agreed to a series of austerity measures to ensure continued financial support.

Federal Reserve Policy Boosts Commodity Futures – Oil Prices Continue to Climb as JPY and USD Slide

NYMEX WTI Crude Oil graph

(Best Syndication News) The U.S. dollar came under pressure as equity markets rebound Thursday (see forex and commodity charts below). Gold, silver, oil, and gasoline prices increased during the session.

Several factors are working on oil prices. The Iranian situation has put upward pressure on Brent and light sweet crude oil prices. Tensions between Iran and the United States and Europe have pushed Brent crude oil futures over $120 a barrel.

The U.S. central bank policy is also playing a role. St. Louis Federal Reserve Bank President, James Bullard, told reporters Friday that Fed policy has bled through to higher stock and commodity pricing. “This is a serious issue for the committee to consider,” Bullard said.

Gold Prices Jump on Economic Fears – Silver Prices Rebound and USD continues to Slide

USD/JPY Chart

(Best Syndication News) Commodities jumped as jittery investors fled Wall Street Wednesday (see the forex and futures charts below). The precious metals played a hedge role against risk and possible future inflation.

Precious Metals

Gold futures picked up steam as risk was turned-on at the New York Stock Exchange (NYSE) Wednesday. The golden metal climbed nearly 13 dollars during the trading day (see the survey #2 settle price chart below). Since the settle, COMEX gold for April delivery added $6.70 to $1776.80 a troy ounce early Thursday.

Forex Trading and Currency Exchange Rates – USDJPY Up EURUSD Down

EURUSD Chart Graph

(Best Syndication News) The dollar gained against the yen but slipped against the euro throughout the day (see the forex charts below). Currencies fell into a risk-off formation as European policymakers are set to approve the second round of bailouts for Greece; the yen and dollar slid broadly against all major currencies.

The People's Bank of China cut their bank reserve requirement by 50 basis points (bps) for its lending institutions on Sunday. This change, along with a positive outlook for Europe, should push the euro higher and benefit equities. Equity markets are opening higher in Europe and Asia; however the NYSE and NASDAQ will be closed in the United States Monday to celebrate Presidents’ Day (aka George Washington’s Birthday).

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