Forex Trading 101

The Euro slid today as investors and traders focused on the shortfalls in the rescue package and the weaker growth expected if austerity measures are to bring down large deficits. That despite a stronger-than-expected 1st quarter GDP release. The Pound was weaker on similar issues.

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Analyst: Nick Nasad

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Duration : 0:9:32

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The Pound rose against its rivals as the Conservatives managed to get a coalition with the smaller Liberal Democrats with David Cameron becoming the country’s new Prime Minister. The Euro extended yesterday’s declines as investors and traders digested and expressed some doubts and concerns about the the rescue package unveiled over the weekend.

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Analyst: Nick Nasad

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Duration : 0:8:28

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The Dollar was a main recipient of safe-haven flows as we had further contagion fears in the Euro-zone as Moody’s placed Portugal under review for a downgrade. The EUR/USD hit a 14-month low, and with oil and gold falling commodity currencies weakened as well. US equities managed to cut early losses and by noon NY-time we saw a small counter-rally to the overnight risk aversion.

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Analyst: Nick Nasad

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Duration : 0:8:24

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EU finance ministers came to a multi-year $149 billion deal on Sunday regarding Greece, but the Euro fell today as the approval of the agreement moves to Euro nations’ legislatures. In contrast to the Greece bailout, the US posted a strong report on the manufacturing sector as well as positive reports for consumer and construction spending.

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Analyst: Nick Nasad

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Duration : 0:9:52

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The Euro rallies as the Greek government formally asked to receive the bailout funds from the EU-IMF aid package. We also had positive fundamentals from the Euro-zone in the form of the IFO business index and new industrial orders. The Pound slid on weak GDP data, but recovered as risk appetite was stronger in NY trading. In addition to higher US equities the US also posted very strong housing sales data.

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Analyst: Nick Nasad

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Duration : 0:9:55

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Duration : 0:9:35

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Recap: Continued risk aversion from the Goldman Sachs news on Friday and lingering concerns over Greece helped the Dollar to gain against the Euro and commodity linked currencies like the Australian and Canadian Dollars. The Pound meanwhile was weaker on polling data showing a higher chance of a Hung Parliament.

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Analyst: Nick Nasad

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Duration : 0:9:56

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Today’s trading saw several developments including a hawkish BOC statement that boosted the Canadian Dollar, hawkish minutes from the RBA that helped spur Aussie gains, positive fundamental data from the UK and Euro-zone and gains by the Dollar vs the Yen.

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Analyst: Nick Nasad

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Duration : 0:8:5

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The Yen surged on news that the SEC brought fraud charges against Goldman Sachs. The news prompted a sell-off in US equities which heightened the sense of risk aversion in currency markets benefiting the Japanese currency. Also, oil and gold tumbled which weakened the Canadian and Australian Dollars.

News Provided by FXTimes/CMS Forex

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http://www.cmsfx.com

Analyst: Nick Nasad

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Duration : 0:9:14

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also check me out on http://www.facebook.com/PeterSchiff and http://twitter.com/schiffforsenate

Duration : 0:9:27

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