Greenback in currency trading

US economic data has crushed estimates and the first news is sending the US dollar higher in forex trading. Indeed, the news that the unemployment rate has fallen to 8.3%, and that the economy added 243,000 jobs in January has boosted demand for the US dollar.

Japan’s Finance Minister Azumi said that the government will take decisive currency steps if needed and that speculative moves in the currency market are increasing. He and his policy makers can breath a small ‘sigh-of-relief’ after NFP, the market decided to sell the JPY outright! How long is this going to last? These specific market moves are providing better levels to own the currency. Markets have taken the Ministers comments in their stride. Intervention is a rising risk for USD/JPY shorts if the pair falls towards that psychological 75 benchmark.

Source: Advanced Currency Markets | G10 Advancers and Decliners vs USD GBP 0.08 JPY -0.05 EUR -0.11 CHF -0.12 Yet another day goes by without a resolution to the Greek bond swap talks; meaning we are still sat with a major hurdle preventing risk appetite from accumulating or EURUSD from making further upside progress. Yesterday, the EU’s Rehn said he expects an agreement between Greece and its private sector creditors by end of this week; a comment which is only likely to increase the potential for…
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I’ve read parts of The Big Short by Michael Lewis before, but finally re-read the entire thing over the weekend. If you are unfamiliar with this bestseller, it tells the story of the housing bubble through the viewpoint of investors who saw the crisis coming and bet big money on the collapse of subprime mortgages.

The biggest worry of the Forex market is now Greece. Talks in Greece have been met with skepticism of whether or not the nation can repair its economic situation. The country is looking for a second bailout, but no decision has been officially reached that can grant Greece this privilege.