IBTimes

The Japanese yen rose to the highest level against the dollar in 15 years on Tuesday, as U.S. home sales data dropped to the lowest level since May 1995, bolstering concerns over U.S. economic recovery and the yen continued to strengthen on rising risk aversion.The greenback edged lower from 85.19 v...

Global risk-appetite continued to wane as traders dumped stocks and shifted into safe-haven assets in the Tuesday session. The Dow Jones slid by more than 1.3%, while the S&P 500 lost 1.45% and the Nasdaq shed 1.66%. Meanwhile, crude oil extended its decline, tumbling by 2.2% to $71.53-per barrel ...

I've made a living out of exposing economic fallacies by illuminating them with the spotlight of truth. One of the major fallacies rummaging around Wall Street today is that the increase in the monetary base and the Fed's balance sheet has not had an inflationary impact on our economy. Their belief goes something like this; "The money the Fed has created and dropped from helicopters has all been caught in the trees." In other words, the Fed can create money but it is just held as excess reserves...

GBP/JPY (a daily chart of which is shown) as of Tuesday (8/24/2010) has broken down cleanly below a rising wedge pattern and, in the process, several key support levels.

Today's housing data came out gloomy, confirming the fact that the world's leading economy overall revival of its several sectors remains weak and lost strong momentum throughout this past period with July's existing home sales plunging pessimistically to 3.83 million or by 27.2 percent since that t...

* New inflation or price-level targets still options * BoC to study its role in securing financial stability * Must be cautious, price stability will not be sacrificed

The U.S. dollar pared losses against the yen on Tuesday after the Nikkei business daily reported the Bank of Japan is considering additional steps to loosen monetary policy.

Main theme so far risk aversion. So the USD gained, but then dismal existing home sales is challenging its strength. We can see that in the EUR/USD, GBP/USD, USD/CHF. The Japanese yen was the big winner. The USD/JPY hammered at a new 15-yr low and EUR/JYP a 9-yr low. Let's take a look at some charts.

With a failure to sustain its intra day strength pushing it to a marginal close on Monday, the pair is now facing a bear pressure and looks to convincingly break the 0.8858/69 levels.

AUD/USD (a 4-hour chart of which is shown) as of Tuesday (8/24/2010) has tentatively dropped below 0.8850 support to establish a new one-month low, before correcting back up.

With weak data from the US worrying investors, we saw a dash towards safe haven in currency markets. The Yen hit a 15-year high against the Dollar, and a 9-year against the Yen. A very weak home sales report pressured the Dollar in NY trading, as it gave up its earlier gains against the Euro, and pared a good chunk of its gains against higher yielders like the Canadian Dollar.

The dollar extended declines versus the Japanese yen on Tuesday after a report showed sales of previously owned U.S. homes dropped more steeply than expected in July.

Simultaneous Release at TheGeekKnows.com – Learn Forex Trading and view EUR/USD Reviews. Good day forex trading koalas. Today is day two and i hope everyone is doing fine so far. Yesterday we saw the EUR/USD tested the support of 1.2645. I also highlighted a report that mention the fragile condition of the US housing market. [...]

Chile's peso is in line with longer-term fundamentals in real terms but the central bank can intervene in exceptional circumstances and does not rule out using the tools at its disposal, Central Bank President Jose De Gregorio said on Tuesday.

The yen rose to a 15-year high against the dollar and a nine-year peak versus the euro on Tuesday amid fears the global economy is slowing, testing Japanese authorities' resolve to stem the currency's climb.

4H: The USD/CHF has so far behaved as anticipated throughout the Asian and European session. It is now at a swing projection that completes an ab=cd retracement pattern just below 1.0450.

Latest trading recommendations. Free delayed updates: posted at 12.00 GMT, 08.00 EST) August 24th 2010

Week: This week continues to see strengthening in the Japanese Yen. The anticipated support for the GBP/JPY pair has been broken, and a strong decline can be expected. We can see the counter-trend breakout in the weekly chart. A swing projection of the previous downswing targets 119.00 the low in 2009.

Monday's dealings in equities saw the major market indices flip-flop around the unchanged mark all day long until trading ground to a halt on a rather sour note at intraday lows. Such ebb and flow helped restrain the dollar from marching away to the upside as investors whiffed the scent of further slowdown for global economies. Things appear to have come to a head on Tuesday with markets braced at the edge of a precipice ahead of key U.S. economic data likely to further unnerve investors already...

Sold EURUSD @ 1.2595 , Stop @ 1.2630 , TP1: 20 Pips, TP2: 40 Pips, TP3: 1.2510