test blog - Forex Day Trading

Monday’s trading maintained the familiar pattern seen after a Friday payroll release with generally lacklustre conditions and narrow ranges, amplified by the normal dip in trading volumes during August. The dollar overall was still hampered by profit taking and corrective pressures following strong gains last week ahead of Friday’s under-whelming employment report. Read the rest of this entry »

The dollar held a firm tone on Thursday without being able extend gains from an over-bought position.

There was no surprise with the Fed policy decision late on Wednesday with a further US$10bn tapering of bond purchases to US$25bn per month. The FOMC statement did make comments on the economy being stronger while references to unemployment being at elevated levels was dropped. There was, however, still considerable caution with comments that considerable amount of slack in the labour market remained. Read the rest of this entry »

The dollar advanced further during Wednesday as stronger US data boosted market sentiment for the second day running.

There was more bad fundamental data from Japan overnight with the 3.3% industrial production decline much weaker than expected and the fifth successive figure below expectations. The data will increase economic concerns and pressure on the Bank of Japan for more aggressive monetary policy which will tend to weaken the yen. USD/JPY initially edged higher to the 102.10 area ahead of key US events. Read the rest of this entry »