- 21 May 2012
Dollar comes off 4-month high vs. euro
The US dollar turned bearish against most of its main currency rivals on Friday, as investor concerns regarding the political situation in Greece have begun to stabilize. A recent Greek poll found growing support for one of the political parties that favor Greece remaining in the European Union. As a result, the EUR/USD came off its recent four-month low to gain well over 100 pips before closing out the week at 1.2776. Against the British pound, the greenback was down close to 95 pips. The GBP/USD finished Friday's trading session at 1.5818.
- 17 May 2012
Manufacturing data could result in dollar gains today
The dollar was able to benefit yet again from risk aversion in the marketplace yesterday, as worries about the Greek political situation caused investors to abandon higher yielding assets. The EUR/USD dropped to a fresh four-month low during the morning session, reaching 1.2679 before staging an upward correction. The pair eventually peaked at 1.2758. The greenback also saw gains against the Australian dollar. The AUD/USD fell as low as 0.9868 before moving upward during mid-day trading.
- 15 May 2012
US retail sales data set to generate volatility
The US dollar saw significant gains against its higher-yielding currency rivals yesterday, as investor concerns regarding the political situation in Greece and Germany led to risk aversion in the marketplace. In addition to the EUR/USD dropping to a four-month low, the greenback also extended its recent gains against the Australian and New Zealand dollars. The AUD/USD fell below the 1.0000 level for the first time since last December during the early morning session. The pair fell as low as 0.9961 before stabilizing. The NZD/USD tumbled close to 60 pips, reaching as low as 0.7763 before staging a slight upward correction during the afternoon session.
- 18 May 2012
Manufacturing data causes USD to tumble
The US dollar tumbled vs. the Japanese yen during the afternoon session yesterday, following a significantly worse than expected Philly Fed Manufacturing Index. The manufacturing index came in at -5.8, well below the forecasted level of 10.3. Following the news, the USD/JPY fell close to 50 pips before finding support around the 79.75 level. Against the Swiss franc, the dollar saw gains during early morning trading before reversing later in the day. After reaching as high as 0.9480, the USD/CHF began falling, eventually dropping to the 0.9445 level.
- 16 May 2012
US manufacturing data sends USD/JPY over 80.00
The combination of a better than expected US Empire State Manufacturing Index and additional Greek political worries gave the US dollar a boost against its main currency rivals during yesterday's trading session. The EUR/USD fell close to 100 pips over the course of the European session, reaching as low as 1.2769 before staging a slight upward correction. Against the Japanese yen, the dollar was able to advance over 80.00 following the better than expected manufacturing report. Overall the USD/JPY was up over 20 pips during European trading.
- 14 May 2012
US consumer sentiment gives dollar a boost vs. JPY
News that consumer sentiment in the US reached a more than four-year high gave the dollar a slight boost against several of its main rivals on Friday, including the Japanese yen. The USD/JPY was up close to 30 pips for the day, but was unable to break the psychologically significant 80.00 resistance level. Additionally, risk aversion in the marketplace helped the safe-haven dollar make substantial gains against the British pound throughout Friday's session. The GBP/USD fell over 75 pips over the course of the day to close out the week at 1.6067.