Despite the dire retail sales figures, the dollar had a cracking day against the euro. It has almost recovered all the losses it suffered in December when the currency markets underwent a readjustment. At that point, many believed the dollar would suffer terribly in 2009 because of zero interest rates.
However the ‘dollar bulls’ remain positive about the outlook for the dollar as they argue it could replace the Yen as the new carry trade currency. This also indicates that the FX markets are preparing for more aggressive cutting from the ECB so we’ll see later today if they do take more aggressive action in cutting the base rate. With the S&P dropping Greece’s credit rating and threatening to downgrade Spain, Portugal and Ireland this once again highlights the difficulties that the euro zone is facing.
Forex Spread Betting, 14 Jan 2009
In the currency markets EUR / GBP touched £0.9100 yesterday and is just below there at £0.9090 in early London trade.
The big story of the day is sterling’s low against the yen. Overnight GBP / JPY hit ¥129.74, its lowest level since 1995, but is currently sitting at ¥131.45. It’s a scary chart when you look at it and few people would expect much of a recovery but as we’ve seen with currency markets, certainly recently with euro/sterling, big contra-trend moves can happen in a number of days.
Forex Spread Betting, 13 Jan 2009
Sterling suffered heavy losses yesterday giving up over 2% to the dollar and 1.5% against the euro. The euro/sterling rate returned to the £0.9000 level putting an end to the pound’s 7 day winning streak against the single currency.
The trend is still up for the euro and in order to break it the rate has to revisit at least £0.8000. For those who are greatly affected by a weak pound it doesn’t look good and the unfortunate situation is that every time there’s concern over the global economy it’s sterling that gets whacked the most at the moment.
The selling was compounded by the National Institute of Economic and Social Research data showing that the UK’s output fell the most since 1980.
Forex Spread Betting, 12 Jan 2009
Price Update:
GBP / USD closed last week up $0.072 at $1.518 (up 4.98%)
USD / JPY closed last week down -¥1.2 at ¥90.2 (down -1.31%)
EUR / USD closed last week down -$0.039 at $1.348 (down -2.81%)
EUR / GBP closed last week down -£0.074 at £0.887 (down -7.7%)
Sterling had another good day against the euro nearly touching £0.9000 at one point yesterday. This morning’s trading is favouring the Euro so far as we’re back at £0.9100.
As the euro’s gain in the final moments of trading last night allowed gold to have a good rally back to over $860. If $873 is taken out then this could pave the way for another test of $890 and then onto $900.
For those who are bullish of the euro (ie dollar bearish) then taking a long position in Gold could pay off. However for the moment the trend is still downward for the precious metal unless we take out $930.
Forex Spread Betting, 6 Jan 2009
For those who have been thinking things have been rather dull so far this week from a trading perspective then you need look no further than the Forex markets. Sterling has regained nearly 7% on the euro in the last week and since the single currencies gains were made on extremely low volume further recovery cannot be out of the question as we look like heading back to the £0.9000 level which is where support is seen.
FX Spread Betting, 5 Jan 2009
Sterling is staging a bit of a recovery against the euro having clawed back some 4% since the record low it hit of £0.9800 a week ago. We are now back at £0.9415 with many clients seeing this as a buying opportunity in the belief that the overall trend is still sterling negative and we will see parity between the sterling and euro.
Sometimes it takes a little longer for markets to reach their “destiny” as we saw with gold hitting $1,000 and Sterling/Dollar hitting $2.0000 but more often than not eventually they get there.
Price Update:
GBP / USD closed last week down -$0.022 at $1.446 (down -1.5%)
USD / JPY closed last week up ¥0.8 at ¥91.4 (up 0.88%)
EUR / USD closed last week down -$0.013 at $1.387 (down -0.93%)
EUR / GBP closed last week up £0.011 at £0.961 (up 1.16%)
Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
'Forex Spread Trading January 2009' by DB, updated 16-Jan-09
For related pages also see:
Forex Spread Betting, updated 11-Mar-10
A daily look at the Forex spread betting markets plus a Forex spread betting comparison, where to spread bet on Forex markets, find free Forex charts and...read article. Forex Trading, updated 12-Feb-10
Compare Forex spreads. Compare EUR / GBP / USD / YEN spreads. The latest forex trading news, where to find free Forex charts and...read article. Spread Trading FX, updated 03-Mar-10
Your guide to FX spread trading, regular forex articles, spreads comparison tables and your questions answered, where to find free FX trading, free FX charts, live prices and more...read article. GBP / JPY Spread Betting, updated 09-Mar-10
GBP/ JPY trading information, where to find free GBP / JPY charts and prices, how to spread bet on Forex, including the GBP/ JPY...read article. EUR / JPY Spread Betting, updated 09-Mar-10
EUR / JPY trading information, where to find free EUR / JPY charts and prices, how to spread bet on Forex, including the EUR / JPY...read article. GBP / USD Spread Betting, updated 09-Mar-10
GBP / USD trading information, where to find free GBP / USD charts and prices, how to spread bet on Forex, including the GBP / USD...read article. USD / JPY Spread Betting, updated 09-Mar-10
USD / JPY trading information, where to find free USD / JPY charts and prices, how to spread bet on Forex, including the USD / JPY...read article. EUR / USD Spread Betting, updated 09-Mar-10
If the Euro is pushing ever higher against the Dollar and the Pound that poses a few questions. Who offers narrow FX spreads? How to trade the Euro FX markets? Where to find live Euro prices and charts? We've got the answers...read article. EUR / GBP Spread Betting, updated 09-Mar-10
EUR / GBP trading information, where to find free EUR / GBP charts and prices, how to spread bet on Forex, including the EUR / GBP...read article. EUR/CHF Spread Betting, updated 02-Mar-10
Free EUR/CHF information, where to find free EUR/CHF charts and free live prices. Plus how to spread bet on forex including the EUR/CHF and where to online spread bet on the EUR/CHF....read article. AUD/USD Spread Betting, updated 02-Mar-10
Free AUD/USD information, where to find free AUD/USD charts and free live prices. Plus how to spread bet on forex including the AUD/USD and where to online spread bet on the AUD/USD....read article. USD/CHF Spread Betting, updated 02-Mar-10
Free USD/CHF information, where to find free USD/CHF charts and free live prices. Plus how to spread bet on Forex including the USD/CHF and where to online spread bet on the USD/CHF....read article. USD/CAD Spread Betting, updated 02-Mar-10
Free USD/CAD information, where to find free USD/CAD charts and free live prices. Plus how to spread bet on Forex including the USD/CAD and where to online spread bet on the USD/CAD....read article. GBP/CAD Spread Betting, updated 02-Mar-10
Free GBP/CAD information, where to find free GBP/CAD charts and free live prices. Plus how to spread bet on forex including the GBP/CAD and where to online spread bet on the GBP/CAD....read article. CHF/JPY Spread Betting, updated 02-Mar-10
Free CHF/JPY information, where to find free CHF/JPY charts and free live prices. Plus how to spread bet on forex including the CHF/JPY and where to online spread bet on the CHF/JPY....read article. Forex Spread Betting January 2010, updated 15-Jan-10
FX market update: The US retail sales didn't help the Dollar much and it drifted back to the ¥91.00 mark against the Yen. With the rate at...read article. Forex Spread Bets December 2009, updated 01-Jan-10
FX market update: Interesting movements in the Forex spreads markets are just about the only thing worth focussing on at the moment. Yesterday the Dollar waxed and waned, managing a...read article. Forex Spread Trading December 2009, updated 18-Dec-09
FX market update: The momentum against Cable was compounded by some negative UK retail sales which flew in the face of recent reports from retailers like...read article. Forex Spread Betting December 2009, updated 04-Dec-09
FX market update: The Euro managed to exactly match our commented range of $1.5140 to $1.5040/60 in yesterday's session. It traded at...read article. Forex Spread Trading November 2009, updated 20-Nov-09
FX market update: Currency markets are mixed this morning but largely in favour of the Dollar. Cable is heading lower as once again it fails to test...read article. Forex Spread Betting November 2009, updated 06-Nov-09
FX market update: Currency markets are turning a bit Dollar unfriendly once more with the Euro regaining the $1.4860 level. The Euro had been...read article. Forex Spread Trading October 2009, updated 23-Oct-09
FX market update: Trading continues to be very contained in the EUR/USD cross with the $1.49 level seeming to hold an irresistible attraction. Last night it seemed that...read article. Forex Spread Betting October 2009, updated 09-Oct-09
FX market update: Mervyn King muttered about a weak currency helping exporters but I have to say that this commentator is yet to see any evidence of...read article. Forex Spread Trading September 2009, updated 25-Sep-09
FX market update: The weakness of the Pound versus other majors has merely been reflected by the Dollars own lack of strength. Versus the Euro the cross seems unable to...read article. Forex Spread Betting September 2009, updated 11-Sep-09
FX market update: As mentioned many times over the last few months the Dollar continues to suffer from what looks like benign neglect from the...read article. Forex Spread Betting August 2009, updated 28-Aug-09
FX market update: The pound/dollar range at $1.62 to $1.66 eventually held the upper hand and after testing the markets below $1.62 the volume attraction of this range reasserted its pull. In truth the opening hours today have...read article. Forex Spread Trading August 2009, updated 14-Aug-09
FX market update: On the currency front the pound made a big rebound from the lows with the Yen (especially) falling back after a strong run. The sharp spike lower in GBP/JPY in a frantic...read article. Forex Spread Trading July 2009, updated 31-Jul-09
FX market update: The equity market rally though took its toil as investors sold the dollar in favour of equities. Sterling did well out of...read article. Forex Spread Betting July 2009, updated 17-Jul-09
FX market update: The dollar is making a little ground back against sterling. Rather like the equity markets there is a lack of direction and a real tussle between the
...read article. Forex Spread Bets June 2009, updated 03-Jul-09
FX market update: Sterling is also managing to sit tight against some serious tests of support. Cable has drifted sideways through the short term upward trend line which is marginally worrying and this may give cause for a move back into the $1.58 to $1.60 region. However sometimes trend lines just lose their...read article. Forex Spread Trading June 2009, updated 19-Jun-09
FX market update: Forex markets must have read my comment yesterday as the pound made an almost carbon copy move to Wednesday's price action. The total net effect over the last three days has been...read article. Forex Spread Betting June 2009, updated 05-Jun-09
FX market update: Even though the GBP/USD spread betting market has fallen from a high of $1.6670 on Wednesday to the current $1.6050 there have been some big rallies amidst the 6 cent fall. Clients have been trying to buy into...read article. Forex Spread Trading May 2009, updated 22-May-09
FX market update: The same happened to GBP/EUR which saw a very sharp fall yesterday morning, but recovered afterwards throughout the rest of the day. At the moment though, the euro is...read article. Forex Spread Betting May 2009, updated 08-May-09
FX market: Sterling's good recent run came to an abrupt end after the BoE announced its next tranche of asset purchases. The market was taken a little by surprise as many were expecting the Bank not...read article. Forex Spread Trading April 2009, updated 24-Apr-09
FX market: EUR/USD is back above $1.3000, currently at $1.3070 with the Euro making a bit of ground on Sterling as well as GBP/EUR heads back towards...read article. Forex Spread Betting April 2009, updated 10-Apr-09
FX market: With EUR/USD, our spread betting accounts are very much two way with buyers matching sellers and in truth it is difficult to argue that ...read article. Forex Spread Trading March 2009, updated 27-Mar-09
FX market update: FX markets are still wary of the recent indication that the US might not be opposed to the creation of a 'Super Currency' run by the IMF, the mere mention of which sent the dollar...read article. Forex Spread Betting March 2009, updated 13-Mar-09
FX market: The failure last Friday to push resistance versus the dollar at $1.4340 was not helped by the overall view taken about the 'quantitative easing' policy of the...read article. Forex Spread Trading February 2009, updated 27-Feb-09
FX market update: Against the Euro, the pound seems to have settled into a £1.1000 to £1.1500 range...read article. Forex Spread Betting February 2009, updated 13-Feb-09
FX market: Virtually every major market, having tried valiantly to break out of the current trading ranges, is now pretty much where they closed on Wednesday evening. GBP/USD had a solid look at...read article. Forex Spread Bets January 2009, updated 31-Jan-09
FX market update: Currency markets continue to be the focal point with the battle for the GBP/USD rate to get...read article. Forex Spread Trading January 2009, updated 16-Jan-09
FX market: Strange moves overnight in the currency markets will not have pleased many as the Pound ?took off? in the first few hours of trading opening some...read article. Forex Spread Betting January 2009, updated 02-Jan-09
FX market update: the 'dollar bulls' remain positive about the outlook for the dollar as they argue it could replace the Yen as the new carry trade currency. This also indicates that the FX markets are preparing for...read article. Forex Spread Trading December 2008, updated 19-Dec-08
FX market: The pound has fallen a minimum of 25% against even the weakest of the other major currencies this year and in the same period our...read article. Forex Spread Betting December 2008, updated 05-Dec-08
FX market update: On the Currency front the cut in rates had little effect, there was a brief fall in the Euro and the Pound followed by a short covering rally and now we...read article. Forex Spread Trading November 2008, updated 21-Nov-08
FX market: The GBP / USD spread is now $1.5082 - $1.5085 and, to be honest, there is little in the way of resistance or support around the current price. The short term falling trend line is now at...read article. Forex Spread Betting November 2008, updated 07-Nov-08
FX market update: The volatility in the GBP / USD market is becoming ever more extreme with the last eleven trading days averaging over 5¢ a day high/low range (3%). This variation represents a...read article. Forex Spread Trading October 2008, updated 26-Oct-08
FX market: Traders looking for some kind of support have seen their hopes wiped away as the pound and euro plumb depths not seen for...read article. Forex Spread Betting October 2008, updated 10-Oct-08
FX market update: Trading in the Forex markets has been just as violent as the equities as the pound has fallen dramatically out of favour versus the Yen and Dollar. It appeared, briefly, that confidence in...read article. Forex Spread Trading September 2008, updated 26-Sep-08
FX market: The Forex markets must have been reading my comment yesterday as Cable failed at almost exactly the resistance of $1.8650 and then moved down to attack the support at $1.8450. Once this had...read article. Forex Spread Betting September 2008, updated 12-Sep-08
FX market update: On the FX spread betting front the inability of the Pound, Euro or Yen to hold onto the gains versus the dollar do not bode well in coming sessions. The currency markets are settling in to the new ranges caused by...read article. Forex Spread Trade August 2008, updated 29-Aug-08
FX market update: The Euro / Dollar rate is off its lows this morning around the $1.4693 mark and continues to test...read article. Forex Spread Betting August 2008, updated 15-Aug-08
FX market update: We are now sitting just above the massive 2006 GBP / USD support level at around...read article. Forex Spread Trading July 2008, updated 01-Aug-08
FX market update: In the Forex spread betting markets the dollar and yen are looking to make gains after the...read article. Forex Spread Betting July 2008, updated 18-Jul-08
FX market update: In the Forex Spread Betting world Cable continues to hover around the $2.00 dollar mark but the Euro has, for the time being, given up on the...read article. Forex Financial Spread Bet July 2008, updated 04-Jul-08
Forex market update: The weak dollar is causing much of the recent commodity spike and the laissez faire attitude of the US administration to the value of the Greenback is coming back to haunt them in the shape of...read article. Forex Financial Spread Trading June 2008, updated 20-Jun-08
Forex market update: Every time the pound looks to be in danger of a fall to below $1.94 buyers come in and take it back up to around $1.98 to $2.00. Cable has been in a falling wedge formation since...read article. Forex Financial Spread Betting June 2008, updated 06-Jun-08
Forex market update: The pound was dragged a little in the Euros wake yesterday but even so lost over a Euro cent in the post Trichet move. The GBP / USD spread is currently at $1.9581 - $1.9584 this morning and is still at the lower end of the recent trading ranges. Any clients who bought into...read article. Forex Spread Bet May 2008, updated 23-May-08
Forex market update: Sterling had one of its surging days yesterday moving higher against every other major currency. We have seen some very heavy buying in the Pound and Euro vs the lower interest rate currencies (JPY, CHF, USD) in the last few sessions as traders...read article. Forex Trading May 2008, updated 09-May-08
Forex market update: Unfortunately the FX markets, which seemed to be selling the Pound and Euro in anticipation of a rate cut from both the ECB and MPC only reversed for the Euro and not for the Pound. Sterling is now weakening again against all the majors and yet another attack on the...read article. Forex Trading April 2008, updated 25-Apr-08
Forex market update: Looking at the Forex Spread Betting markets the Pound actually managed a good day for a change as the Euro and Yen suffered. Of course the real winner was the US Dollar. Cable is now at the bottom of it recent range with dealers probing for any weakness below...read article. Forex Spread Bets April 2008, updated 11-Apr-08
Forex market trading update: The dollar is getting a knock this morning weaker against the majority of other currencies. Sterling attempted to make some sort of recovery against the euro yesterday dipping below the £0.8000 mark. However, since...read article. Forex March Spread Trading, updated 28-Mar-08
Forex markets: On the FX markets the Dollar continues to hold it own for the time being but the pound seems to have hit something of a brick wall overnight. All the majors are unchanged except for the pound which is down 80 pips against the greenback (under $2 again)...and is at a new all time low versus the Euro at £0.7894 which means that we are now over 15%...read article. Forex March Spread Betting, updated 14-Mar-08
Forex market information: Looking at the Forex markets the added dollar liquidity push had a curious effect in that the greenback actually rallied yesterday afternoon when many would have expected the opposite. There may be a feeling that the Fed may...read article. Forex February Spread Trading, updated 29-Feb-08
Forex market information: Against the Dollar, Sterling has given up 200 pips from the highs of yesterday (oddly enough the same highs as the last rally in late January) and is now back down at $1.9770 - $1.9773. The resistance at $1.9750 which acted to hold back the...read article. Real-time Forex Prices and Charts, updated 15-Feb-08
Forex pricing information: On the currency trading front we are very quiet and with no news expected today it may well remain that way for the early trading session. GBP / USD looks to be quite happy at levels near to $1.9700 but we have made a habit of...read article. UK Forex Spread Trading, updated 01-Feb-08
UK Forex Spread Trading: FX markets are absolutely comatose at the moment and we are trading and re-trading over the same ranges. The pound is pretty much...read article. Spread Betting on Forex, updated 18-Jan-08
Your FX trading questions answered, tips on getting free Forex charts, real time prices plus free...read article. Forex Trading Online, updated 21-Dec-07
Find out where you can Trade FX Online for free plus your FX trading questions answered, tips on getting free FX charts, real time prices and...read article. Forex Futures Trading, updated 07-Dec-07
Where to trade Forex Futures plus updated Forex trading news and the most popular Forex questions answered....read article. Forex Broker, updated 23-Nov-07
Where to find free Forex Brokers plus regular Forex financial trading news as well as the most popular Forex questions answered....read article. Forex Platform, updated 09-Nov-07
Where to find free Forex Platforms plus updated Forex trading news as well as the most popular Forex queries answered....read article. Forex Software, updated 26-Oct-07
Where to find free Forex Software information plus updated Forex trading news as well as the most popular Forex queries answered....read article. Forex Prices, updated 04-Feb-08
Where to find free Forex Prices plus updated Forex news as well as your top Forex questions answered....read article. FX Spread Betting, updated 02-Feb-09
The new daily Forex trading article from GFT with market commentary, price action and...read article. Forex Spread Trading on Pound / Yen, updated 11-Dec-08
Financial spread trading Sterling / Yen. Forex news, narrow spreads and where to find live prices....read article. Financial Spread Betting Blog - FX Trading, updated 13-Aug-07
The popular Forex market of EUR/USD has been decreasing and is at its lowest value for a month. Is it worth backing the market to return? At the moment the EUR / USD (Sept) market has a quote of 1.3631 - 1.3639. As with many markets...read article. Spread Bet on Forex, updated 05-Dec-08
Forex spread betting comparison table, the spreads and minimum stakes from some of the leading companies...read article. Spread Betting on FX, updated 28-Jan-09
Online forex spread betting news and free live prices. In the Forex markets GBP v USD fell to a 14 month low and is trading below the $2 mark to around $1.9945. With Financial Spreads, the Sterling / Dollar (December) market is trading at 1.9971 - 1.9974 suggesting that they don't think there will be a quick recovery....read article. Forex Spread Betting, updated 23-Feb-10
Foreign exchange betting. Currencies fluctuate for a number of reasons eg changes interest rates, speculative trading and central bank intervention. If you are looking for FX trading information ...read article.
Q) Average Trading Results?
A) Get free spread betting tips, offers, price updates, important news and more! All Free - Click here!
Risk Warning: Spread betting carries a high level of risk to your capital and you may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.
