Forex Trading News
Dollar, Euro, Pound & Yen

02:12 Wednesday 29 June, 2010

01:58 Wednesday 30 June, 2010

All eyes today are on 9,816.49.

That's because this level, at least so far, has been the lowest closing low for the Dow Jones Industrial Average in the correction that began in late April. In early trading Tuesday, the Dow dropped so far that at one point it was less than 40 points higher than this crucial level.

If the Dow ends up closing below 9,816.49, then it would be very bearish indeed.

23:54 Tuesday 29 June, 2010

U.S. stocks tumbled Tuesday as U.S. consumer confidence fell more than anticipated in June, adding to worries about a global economic slowdown.

"While the recession may have technically ended last summer, consumers remain skittish about job and income prospects and are refraining from consuming in a sufficient enough manner to create substantial growth in GDP," wrote Dan Greenhaus, chief economic strategist at Miller Tabak, in a note.

23:50 Tuesday 29 June, 2010

The dollar and the Japanese yen rose Tuesday as investors sought out safe havens on worries over global growth prospects and concerns about the health of European banks.

Scrutiny for lenders in Europe comes amid the looming expiration this week of the European Central Bank's special one-year funding program.

15:18 Tuesday 29 June, 2010

Ahead of debt auctions in Spain and France, Harry Ida, senior analyst at Thomson Reuters shares his thoughts on the euro and currency markets with CNBC's Oriel Morrison.

15:12 Tuesday 29 June, 2010

Asian shares reversed from a generally positive direction Tuesday to move broadly lower in midday trading, with Hong Kong and Shanghai indexes leading the fall. Hong Kong's Hang Seng Index moved 1.2% lower, while the Hang Seng China Enterprises Index lost 1.8% and the Shanghai Composite off 1.7%.

11:23 Tuesday 29 June, 2010

Discussing whether the recession is headed for a double-dip, with Nouriel Roubini, Roubini Global Economics chairman.

11:19 Tuesday 29 June, 2010

Export manufacturers based in China have long been terrified of big buyers from the West. China has a lot more factories than the West has buyers for its products, so exporters have generally assumed that their powerful clients would never accept higher prices.

But business costs have been rising in China, manufacturers are well-connected to markets and infrastructure, and buyers are realizing that their supply options are not unlimited. As a result, Western buyers these days should be a lot more terrified than their Chinese suppliers.

A recent spate of worker strikes at factories in China partly reflects a search for a new balance at the labor end of the manufacturing landscape, especially among young, blue-collar workers. On top of that, export manufacturers have been talking about labor shortages for the past year or two. But "labor shortage" is an oxymoron: Any product in shortage is simply not priced right.

11:15 Tuesday 29 June, 2010

Japanese shares rose in early Tuesday trading, helped by continued weakness in the yen and managing to shrug off weaker-than-expected unemployment and household-spending data. The benchmark Nikkei Stock Average rose 0.4% to 9,733.7, while the broader Topix was up 0.3% at 863.3 after a brief dip into negative territory.

08:16 Tuesday 29 June, 2010

Dennis Gartman, founder of The Gartman Letter, tells CNBC why he's still bullish on gold.

08:11 Tuesday 29 June, 2010

The wobbly stock market in 2010 has resulted in attractive valuations that should see a rally of more than 16 percent between now and the end of the year, Goldman Sachs analyst Abby Joseph Cohen told CNBC.

Commodities, particularly energy, look especially good, as do industrial equipment and information technology stocks, said Cohen.

"We think the stock market is already pricing in some less than pleasant news. From that standpoint we think the valuation of the stock market is better now than it was a few months ago," she said. "The most important thing we see is no recession, no double-dip. What we see is deceleration but ongoing growth of GDP but at a slower rate, and we think the profit picture will be good."

08:07 Tuesday 29 June, 2010

Crude futures declined Monday as mildly positive economic data in the U.S. failed to lift markets and bearish sentiment prevailed after concerns about a tropical storm brewing near the Gulf of Mexico eased.

Light, sweet crude for August delivery fell 61 cents, or 0.8%, to $78.25 a barrel on the New York Mercantile Exchange.

Natural gas futures for July delivery, which expired Monday, lost 14 cents, or 3%, to $4.71 per million British thermal units, their lowest price since June 10. August natural gas lost 18 cents, or 3.6%, to settle at $4.73 per million Btus.

Energy prices rallied Friday on concerns the storm was headed for key areas in the Gulf of Mexico, disrupting production and refining. Oil prices last week posted a gain of 2.2%.

08:03 Tuesday 29 June, 2010

The dollar rose against major rivals Monday, with gains seen especially against the euro, after the G-20 leaders' pledge to cut deficits fueled growth uncertainty.

The medium to long-term implication of the crisis and belt-tightening in Europe are that the U.S. and other economies that fare better "will have to accept higher exchange rates," BNP Paribas analysts said in a note.

Currencies saw relatively subdued action to start the week, on the heels of leaders of the Group of 20 industrial and emerging economies shifting their emphasis to deficit reduction during a weekend meeting in Toronto. A modest uptick in risk appetite saw the dollar post a mixed performance against more risk-oriented commodity currencies, while the euro lost ground.

The G-20 leaders reached an agreement on common goals for deficit and debt reduction Sunday, but the statement didn't directly address currencies and exchange rates.

"The euro ... appears to be bearing the strain at this early stage of the week in response to a [G-20] compromise with investors having to determine which flag they want to ride behind," said Andrew Wilkinson, market strategist at Interactive Brokers in Greenwich, Conn.

07:58 Tuesday 29 June, 2010

A late-day slump left major stock indexes slightly lower at Monday's close as traders fretted that the Group of 20's pledge to cut deficits could crimp global growth -- a key focus for investors over the past few weeks.

Several business-friendly decisions by the U.S. Supreme Court helped to lift traders' sentiment somewhat, keeping the day's selling in check.

"People are factoring in that the economy will stay weak and rates will stay low for longer than we had thought a month ago," said Martin Schepsman, first vice president at the brokerage firm Newedge. "You also have some really bad technical conditions," with the 30-year bond's yield flirting with the key 4% level.

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