forex trading

Tuesday, July 31, 2007

Yen Moves Higher Against Other Major Currencies, Tuesday, July 31, 2007 6:28:06 PM

The Japanese yen saw strength against the other majors on Tuesday in New York. The yen moved higher in the afternoon against the dollar, euro and sterling. On Tuesday, Japan`s Ministry of Internal Affairs and Communication revealed that the seasonally adjusted unemployment rate eased 0.1 percentage point to 3.7% in June on a monthly basis. Traders look ahead to Japanese vehicle sales data for July, expected to be released Wednesday morning.

The yen was higher against the pound on Tuesday in New York. The Japanese currency rose in early trading but then declined for about six hours, starting at 2 a.m. ET. Trading was generally for the rest of the morning but the yen surged in the early afternoon. It got as high as 240.13 at 5:15 p.m. ET. It was at 240.33 about an hour later.

The yen moved up in afternoon trading with the euro on Tuesday in New York. The Japanese currency climbed early, but then edged lower through the morning and touched as low as 163.81 at 7:30 a.m. ET. The Japanese currency began to rise from there and returned to its overnight levels by late morning. The yen advanced higher through the afternoon and into the early evening. The pair traded at 161.86 at 12:20 p.m. ET. Japan`s Ministry of Internal Affairs and Communication revealed that the seasonally adjusted unemployment rate eased 0.1 percentage point to 3.7% in June on a monthly basis.

The yen advanced against the dollar on Tuesday in New York. The yen edged lower for several hours in the early morning, but saw some strength in the later morning. The currency gained sharply in mid-afternoon trading and then continued to edge higher into the afternoon. The currencies were at 118.36 at 6:20 p.m. ET. The pair has been range bound since late last week.

Singapore Dollar Sees Weakness Against Majors, Tuesday, July 31, 2007 6:14:21 PM

The Singapore dollar was weaker against its major counterparts on Tuesday in New York. The currency fell against the greenback and pound and was little moved against the euro. There was no major economic news from Singapore on Tuesday.

The Singapore dollar was down against the greenback on Tuesday in New York. The currencies were range-bound until about 9 a.m. ET when the Singapore dollar began to drop sharply for about two hours. It edged back higher through mid-day trading and was generally level from there. The pair was at 1.5145 at 6 p.m. ET.

The Singapore dollar was little changed against the euro on Tuesday in New York. The currency fell in the late morning but edged back in the early afternoon. The currencies traded at 2.0732 at 6:05 p.m. ET.

The Singapore dollar was down slightly against the sterling on Tuesday in New York. The currency gained in the early hours but then trended down for the rest of the morning and into the afternoon. It reached as low as 3.0860 at 1 p.m. ET. The Singapore currency moved back higher in the afternoon and traded at 3.0780 at 6:10 p.m. ET.

Australian Dollar Moves Lower Against Majors, Tuesday, July 31, 2007 5:44:28 PM

The aussie was down against the major currencies on Tuesday in New York. The Australian dollar saw most of its weakness in afternoon activity. Traders looked ahead to Wednesday morning`s release of data reports on Australian retail sales, trade balance, exports and imports.

The Australian dollar fell out of a range against the greenback in the afternoon and was down for the day. The pair was range-bound until about 3 p.m. ET when it started to decline. It fell for the next 2 Ѕ hours and was at a daily low of 0.8507 at 5:30 p.m. ET.

The Australian dollar saw afternoon weakness and was down for the day against the euro. The aussie began to fall in the early afternoon and dropped sharply at 3:30 p.m. ET. It continued to edge lower in the later afternoon and traded at 1.6083 at 5:30 p.m. ET.

The aussie saw weakness against the sterling and was down for the day on Tuesday in New York. The Australian dollar gained early, but then began to fall at around 5 a.m. ET. it added further losses in the late morning and then fell throughout the afternoon. It was at a daily low of 2.3869 at 5:40 p.m. ET.

Kiwi Sees Afternoon Weakness Against The Majors, Tuesday, July 31, 2007 5:18:45 PM

The New Zealand dollar moved lower against the other major currencies on Tuesday in New York. The kiwi saw weakness in the afternoon against the dollar, euro and sterling. There was little economic news was released from New Zealand on the day.

The kiwi dropped in afternoon trading against the greenback on Tuesday in New York. The currencies were range-bound in the morning, but the New Zealand currency began to drop at around noon ET and continued to decline in the afternoon. It got as low as 0.7610 at 4 p.m. ET. About an hour later, the pair was at 0.7621.

The New Zealand dollar saw weakness in afternoon trading against the euro. The kiwi was range-bound until about 2 p.m. ET when it began to decline sharply. It fell for about two hours before leveling off.

The kiwi moved lower against the sterling in the afternoon on Tuesday in New York. The New Zealand currency fell below a range in the early afternoon and continued to decline. It finally stabilized at around 4 p.m. ET.

Greenback Mixed Against Other Majors Amid Several Economic Reports, Tuesday, July 31, 2007 4:01:24 PM

The greenback was mixed against its major counterparts on Tuesday The greenback posted gains on the euro and was range-bound with the sterling. The buck fell versus the yen. Trading took place amid the release of several key economic reports in the U.S. Better than expected consumer confidence and an employment cost index that met expectations were countered by disappointing reports on personal income and spending, business activity in the Midwest, and construction spending.

The U.S. dollar was up against the euro on Tuesday in New York. The greenback fell sharply in early trading and touched as low as 1.3718 at 8:30 a.m. ET. It gained from there for about two hours. It slipped again in the late morning, but bounced back in the early afternoon. It got as high as 1.3680 at 2:40 p.m. ET. It settled back to 1.3685 about an hour later. Traders mulled data showing that the Euro zone jobless rate was unchanged in June and consumer prices were up in July.

The greenback was little moved on Tuesday in New York against the sterling. The currencies traded in a range between the 2.0345 and 2.0285 through the morning. It got as low as 2.0377 in the early afternoon, but edged back to its overnight levels by 3:50 p.m. ET. Traders mulled the release of data showing that UK consumer confidence waned in July.

The dollar fell below support in afternoon trading against the yen and was down for the day Tuesday in New York. The greenback edged higher for several hours in the early morning, but saw some weakness in the later morning. It dropped sharply in the afternoon and moved to a daily low of 118.56 at 3:55 p.m. ET. Japan`s Ministry of Internal Affairs and Communication revealed that the seasonally adjusted unemployment rate eased 0.1 percentage point to 3.7% in June on a monthly basis.

Swiss Franc Mixed Versus Major Currencies, Tuesday, July 31, 2007 3:03:23 PM

The Swiss franc experienced mixed results against its major counterparts Tuesday in New York. The Swiss currency gained ground versus the euro, but lost some to the sterling. Meanwhile, the franc experienced uncertain trading with the greenback and the yen. Traders mulled data showing that the Swiss June UBS Consumption Indicator showed a strong upturn in June.

The Swiss franc was largely choppy against the dollar Tuesday in New York. At 2:40 pm ET, the Swiss currency traded at a mark of 1.2030 against its American counterpart. This is compared to an intraday high of 1.2018 at 12:00 pm and an intraday low of 1.2065 at 10:20 am. Greenback traders considered data showing that American consumer confidence rebounded more-than-expected in July.

The Swiss franc moved higher again against the euro on Tuesday afternoon in New York and has reached a new daily high. The franc spiked up at around 10:45 a.m. ET to erase early losses. It added further gains at around 2 p.m. and has continued to move up. The pair is currently at 1.6461.

Against the sterling, the Swiss franc slid Tuesday in New York. At 2:49 pm ET, the Swiss currency traded at a mark of 2.4464 against its British counterpart. This is compared to an intraday high of 2.4391 at 1:50 am and an intraday low of 2.4512 at 7:40 am. Traders mulled the release of data showing that UK consumer confidence waned in July.

The Swiss franc experienced mostly choppy trading against the yen Tuesday in New York. At 2:52 pm ET, the Swiss currency traded at a mark of 98.73 against its Japanese counterpart. This is compared to an intraday low of 98.64 at 1:40 am and an intraday high of 99.13 at 7:30 am. On Tuesday, Japan`s Ministry of Internal Affairs and Communication revealed that the seasonally adjusted unemployment rate eased 0.1 percentage point to 3.7% in June on a monthly basis.

Swiss UBS Consumption Indicator staged a brisk recovery in June after the downside in the prior month, a report revealed Tuesday. The UBS said the monthly Consumption Indicator climbed to 2.31 in June from 2.10 in May, revised up from 2.09 earlier. The indicator now stays near the April high of 2.38. Further, the indicator exceeded its long-term average of 1.49 for the sixteenth month in a row.

Energy Prices Move Up; Crude Oil Tops $78, Tuesday, July 31, 2007 2:42:03 PM

Energy prices were higher on Tuesday in New York. Crude oil moved to a yearly high and within 12 cents of the record best set last July. Heating oil and gasoline also climbed, while natural gas declined.

Crude oil climbed above $78 per barrel on Monday in U.S. trading and reached a yearly high. Light sweet crude oil was at $78.17, up $1.34 in the afternoon. Oil got as high as $78.28 at 2:15 p.m. before slipping in the next five minutes. The record high of $78.40 was reached in July of 2006. Traders await Wednesday`s inventory report.

Natural gas was down in U.S. trading on Tuesday, moving away from a 10-day high. September-dated natural gas dropped in early trading and trending down through mid-day trading. It traded at $6.19, down 30.9 cents. It had been trending up for the last several days.

Heating oil moved up in U.S. trading on Tuesday, adding 4.09 cents to deal at $2.124. Prices opened higher and continued to rise through mid-day activity. It was flat in the afternoon until spiking up at around 2:25 p.m.

Gasoline prices were up in U.S. trading on Tuesday, adding 4.78 cents to deal at $2.107. Trading has been range-bound for several days.

Tuesday, July 31, 2007

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