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Forex – Pound slides lower against stronger greenback

Forex – Pound slides lower against stronger greenback – – The pound slid lower against the U.S. dollar on Friday, as sentiment on the greenback improved ahead of highly anticipated data on U.S. nonfarm payrolls due later in the day. GBP/US hit 1.4130 during European morning trade … Continue reading at

Forex reserves down by .58 bn to 6.79 bn

Mumbai: Country’s foreign exchange reserves declined by a whopping USD 3.58 billion to USD 346.79 billion in the week ended February 26, on account of fall in foreign currency assets (FCAs), according to Reserve Bank. In the previous week, the reserves had … Continue reading at

FOREX-U.S. dollar falls as drop in U.S. wages suggests dovish Fed

* Dollar reverses gains on drop in Feb U.S. wages NEW YORK, March 4 The U.S. dollar hit one-week lows against the euro and fell against the yen on Friday after a drop in U.S. wages in February overshadowed strong jobs growth and supported views that the … Continue reading at

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Forex technical analysis: USDJPY rises after better US jobs report

The USDJPY has moved higher after the stronger-than-expected US jobs report (sans the wages that is). The pair has some positives (bullishness), but it still has some more work to do to get in more clear sailing. Looking at the 4-hour chart, The low … Continue reading at

Forex Reserves Down Nearly .6 Billion: RBI

Mumbai: The country’s foreign exchange reserves declined by a whopping $ 3.58 billion to $ 346.79 billion in the week ended February 26, on account of a fall in foreign currency assets (FCAs), according to Reserve Bank of India. In the previous week, the … Continue reading at

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Forex Snapshot: Japan’s Economy

New to forex? Learn to trade through our online course. It's fun and, best of all, it's free! In a speech earlier today, Bank of Japan (BOJ) Governor Haruhiko Kuroda said that he and his gang aren't contemplating on deepening their recently … Continue reading at

FOREX-Dollar on defensive, U.S. jobs data awaited for potential relief

* Dollar wobbly vs euro, yen after falling on soft U.S. data TOKYO, March 4 The dollar was on the defensive against its peers on Friday after soft service sector employment data dampened expectations the Federal Reserve would hike interest rates soon … Continue reading at

China Pulls 9B From Financial System Amid Expectations Of Forex Stability And Rising Yuan

The People's Bank of China withdrew 840 billion yuan ($ 129 billion) from the country's financial system in five days through Friday, its biggest weekly withdrawal since February 2013, according to data compiled by Bloomberg. PBOC was mopping up excess … Continue reading at

INR to USD Forex rates today: Rupee advances 12 paise against dollar

Mumbai, Mar 4: Staying on the upward trajectory for the sixth straight day, the rupee gained another 12 paise to trade at 67.22 against the US dollar in early trade at the Interbank Foreign Exchange on persistent selling of the greenback in view of … Continue reading at

* We Begin with the US Stock Market: Wall Street traded higher on Monday helped by mergers and acquisitions. The S&P 500 index rose by 0.39%, the NASDAQ rose by 0.31% and the Dow Jones added 0.78% to its value. Apple shares added 0.43%, closing at 7.14 a share following the long-anticipated rollout of its watch.

Turning to the pairs now, the U.S. Dollar remained broadly lower against other major currencies on Monday, as investors took profits in the wake of strong jobs report on Friday.
The euro remained relatively stable against the U.S. Dollar, as the Eurozone struck down Greece’s latest proposal for reform.
The pound rose against the U.S Dollar, but gains are expected to be limited after Friday's strong U.S. employment report that continued to support the greenback.

Finally in commodities, Gold edged up after falling sharply on Friday, closing at ,166.50 an ounce, as investors looked ahead to a meeting of euro group finance ministers over Greek economic reforms.
Crude Oil prices traded mixed, closing at .00 a barrel, after comments from OPEC's general secretary on rising global consumption. Technically, according to the 4-hour chart, Oil is trading below the resistance line at .50 with the RSI indicator below 50. Maintaining these conditions will probably take it towards .00, however crossing above the resistance may take the ‘black gold’ to around .00

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