Forex News

Oct. 7, 2010 | Written by Jeffrey Winograd
Geithner says no “near-term quick fixes” to avert possible currency war – Treasury Secretary Timothy Geithner in remarks on Oct. 6 effectively placed Chinese employment on a higher pedestal of priorities than U.S. job retention and creation. This is important for forex traders to keep in mind as ... continued

Oct. 11, 2010 | Written by Jeffrey Winograd
FY 2010 federal deficit “slightly lower” than expected – The federal budget deficit for fiscal year 2010 was a tad under $1.3 trillion, down $125 billion from the figure for FY 2009, according to the Congressional Budget Office’s Monthly Budget Review that was published on Oct. 7. Of ... continued

Oct. 5, 2010 | Written by Jeffrey Winograd
Upward movement of euro helped by optimistic PMI; U.S. and euro zone nations piling on China over renminbi exchange rate
Some uncertainty over reasons for euro’s continued strengthening – The euro received a boost in Oct. 5 morning trading in the aftermath of a report showing a rise in ... continued

Oct. 4, 2010 |  Written by Jeffrey Winograd
Feisty Montana will go toe-to-toe with Chinese – Sen. Max Baucus (D-Mont.), chairman of the Senate Finance Committee, will tackle the issue of China’s currency practices when he visits Beijing next week. “China’s currency undervaluation hurts American ranchers and farmers, American exports and American jobs,” Baucus said. The ... continued

Sept. 21, 2010 | Written by Jeffrey Winograd
Good news from Ireland, Greece, Spain and Germany – The euro has gained significant strength today on the heels of encouraging results of bond sales in Ireland, Greece and Spain, as well as a possible shakeup in a vulnerable segment of the German banking sector. Irish, Greek and ... continued

Sept. 20, 2010 | Written by Jeffrey Winograd
More information for the forex trader toolbox – This week’s key financial data calendar kicks off on Sept. 21 in Washington with the release of reports on housing starts and building permits for August, followed by a meeting of the Federal Open Markets Committee which will make a ... continued

Sept. 16, 2010 | Written by Jeffrey Winograd
Forex traders may see further action on yen – Japanese Prime Minister Naoto Kan said today that he is prepared to intervene again to prevent a strengthening of the Japanese yen against the U.S. dollar. Voicing his concerns over the danger that rapid fluctuations in the currency will ... continued

Sept. 15, 2010  |  Written by Jeffrey Winograd
Forex traders are on high alert – In the first such move in over six years, the Japanese government and the Bank of Japan intervened on Wednesday during Japanese and European forex trading hours in a bold attempt to weaken the yen and help the country climb out ... continued

Sept. 14, 2010 | Written by Jeffrey Winograd
Ruling party’s backing for P.M. Kan a key factor – The U.S. dollar today again hit a 15-year low against the Japanese yen before recovering, at its lowest point being traded at 83.07 JPY. Stop-loss orders were reportedly at the level of 82.85 JPY. Forex traders are pondering ... continued

Sept. 13, 2010 | Written by Jeffrey Winograd
Positive stirrings in corporate tax receipts – The U.S. federal government deficit for the first 11 months of fiscal year 2010 was $1.265 trillion and is projected to exceed $1.3 trillion for the entire fiscal year which ends on Sept. 30, according to the Congressional Budget Office (CBO). ... continued