Currency Market Thread

[millenniumhorizon]

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Hello Guys,

We recently expanded our services to the web community in providing information regarding the opportunities in the Spot Currency Market. This thread will be dedicated in providing headlines and market updates for all to see and read.

We are currently monitoring the Major Currencies only, namely the USD, EUR, GBP, CHF, JPY, AUD, CAD and sometimes XAU and XAG.

Happy Trading Guys!

PS. If you want to receive Daily Market Reports, you may email go to our website, register yourself (ITS FREE ANYWAY) and subscribe to our mailing lists!


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[millenniumhorizon]

Dollar Trades Near Record Low Versus Euro on Wider Yield Spread

The dollar traded near a record low against the Euro on speculation the Federal Reserve will cut borrowing costs further while the European Central Bank keeps interest rates on hold.

The greenback fell below $1.60 per Euro for a second day as the extra yield that two-year German government bonds pay over similar-dated Treasuries widened to the most in two weeks and as crude oil surged above $119 a barrel. The Australian dollar traded near a 24-year high against the U.S. currency before a report that is forecast to show inflation accelerated.

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Euro Is Little Changed Before German Business Confidence Data

The Euro was little changed against the dollar before a report forecast to show German business confidence declined in April, indicating the single currency's strength is hurting Europe's biggest economy.

The common European currency pulled back from a record high yesterday after Luxembourg's Finance Minister Jean-Claude Juncker signaled concern that the pace of the U.S. currency's decline will take a toll on growth. The New Zealand dollar fell after the country's Central Bank signaled interest rates may decline later this year as the economy slows.

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Dollar Trades Near 2-Month High Against Yen Before Fed Meeting
The dollar traded near a two-month high against the yen as Federal Reserve officials prepared to convene a two-day policy meeting at which they may signal that it's close to ending cuts in the target lending rate.

The U.S. currency headed for its first monthly advance versus the yen and EURO since December as traders pared bets the Fed will keep reducing interest rates as record oil prices accelerate Inflation and confidence returns to credit markets. New Zealand's dollar slid after a government report showed the nation's trade deficit unexpectedly widened in March.

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US Dollar show signs of strength before Meeting despite the rumors of a 25basis point cut in Interest Rates...
Is this the rebound of the US Dollar people are waiting for

[millenniumhorizon]

Dollar Bulls Gain Control as Euro May Be Near Peak

For the first time since December 2005, Futures traders are turning bullish on the dollar.

The difference in the number of wagers by hedge funds and other large speculators on a gain in the greenback versus the EURO, known as net longs, was 21,315 on April 29, figures from the commodity Futures Trading commission in Washington show. There were net-short positions in each of the previous 123 weeks. At the same time, traders have stepped up their purchases of options that profit from the dollar's appreciation.

The measures are making long-suffering proponents of the dollar optimistic that this time the currency's rally may hold, especially if the Federal Reserve's Open Market Committee refrains from additional interest-rate cuts. The Dollar Index traded on ICE Futures in New York, which tracks the currency against six trading partners, is up 3.7 percent from an all-time low of 70.698 set on March 17.

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