Richard Lee
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Forex: World Bank Deals EUR/USD Lower

In a surprising announcement, World Bank officials have downgraded growth forecasts for the global economy in the upcoming year. The announcement is weighing heavily on major currency advancements, particularly the EURUSD. Continuing off of yesterday’s decline, the single currency still remains below 1.3320 support.World Bank Lowers GrowthOfficials at the Washington based bank today forecasted global growth to remain lackluster in 2013, as austerity measures will continue to crimp growth in…See More
Jan 16, 2013
Richard Lee posted blog posts
Jan 16, 2013
Richard Lee posted blog posts
Jan 11, 2013
Richard Lee's blog post was featured

Forex: Bearish Data Forces EUR/USD Slide

Extending on the close below 1.3100 psychological support, EURUSD continues to decline on the session. The move lower is seen as a simple extension of the technical break, bolstered by bearish data that continues to fuel speculation over an ECB rate cut decision tomorrow. Lackluster GDPAccording to Eurostat data, the European economy contracted by a finalized 0.1% in the third quarter of last year. Although relatively expected by the market, the final GDP figure confirms what has been known for…See More
Jan 9, 2013
Richard Lee posted a blog post

Forex: Bearish Data Forces EUR/USD Slide

Extending on the close below 1.3100 psychological support, EURUSD continues to decline on the session. The move lower is seen as a simple extension of the technical break, bolstered by bearish data that continues to fuel speculation over an ECB rate cut decision tomorrow. Lackluster GDPAccording to Eurostat data, the European economy contracted by a finalized 0.1% in the third quarter of last year. Although relatively expected by the market, the final GDP figure confirms what has been known for…See More
Jan 9, 2013
Richard Lee posted blog posts
Jan 8, 2013
Richard Lee posted a blog post

Forex: USD Dollar Net Short Position Grows, Interest In AUD, CAD Rise

In one of the bigger turn of events in the week over week change for the CFTC’s Commitment of Traders report, non-commercial positioning in the Euro rose by $1.27 billion – placing the EUR in a net long position of $846 million. This is the first time EUR positioning has been net long since the beginning of the 4th quarter of last year.In contrast, the US dollar position has grown net short by an impressive $16.3 billion as major currencies saw gains across the board last week – to the tune of…See More
Jan 7, 2013
Richard Lee's 2 blog posts were featured
Jan 4, 2013
Richard Lee posted blog posts
Jan 4, 2013
Richard Lee posted blog posts
Jan 3, 2013
Richard Lee's blog post was featured

US Dollar: ISM Takes Backseat To Fiscal Cliff

With the Fiscal Cliff deal dominating the headlines, another positive report for the US economy has taken a back seat. Although overshadowed, the survey is supportive of the current bullish sentiment and is a boon for the US dollar. ISM Shows Expansion For the month of December, US manufacturing activity perked up. The headline index rose to a reading of 50.7, rising above the 49.5 witnessed in November – a 3-year low. The improvement was widely bolstered by upticks in exports and prices paid.…See More
Jan 2, 2013
Richard Lee's blog post was featured

Forex: Euro Traders Pare Back Shorts, Yen Outlook Remains Bearish

According to the most recent CFTC Commitment of Traders Report, traders previously and widely short Euros pared back the remaining bias ahead of the New Year. This has left the single currency widely neutral now, in line with the rest of US dollar bearish positioning.Euro NeutralityTraders previously short the Euro pared back remaining positions ahead of the New Year, bringing the overall net position to neutral. Taking a look at data reported as of December 25th, Euro positioning now stands at…See More
Dec 31, 2012
Richard Lee posted blog posts
Dec 31, 2012
Richard Lee posted a blog post

Chicago PMI, Housing Sales Do Little For The US Dollar

The US dollar remained widely sold on the day despite optimistic data from two main sectors of the US economy. Subsequently, low volatility continues to hamper any real gains in the greenback against other major currencies like the Australian dollar and pound sterling. The only pair, seemingly, in favor of US Dollar strength is the EURUSD – which is trading lower by 0.13% in afternoon trade.Behind Chicago PMIManufacturing activity in the Chicago region was expansive in the month of December,…See More
Dec 28, 2012
Richard Lee posted blog posts
Dec 27, 2012
Richard Lee's blog post was featured

Fiscal Cliff Concerns Bolster EUR/USD

As the US holiday approaches, concerns are now shifting to an inevitable 25th hour decision by Congress, over the Fiscal Cliff. With party members now on holiday through December 27th, there is just a little more than a week left before the activation of $600 billion in tax increases and spending cuts. The notion is bolstering the Euro against the US dollar, above support at 1.3160.Still at odds, political leaders remain deadlocked in several specific areas. Particularly, US President Barack…See More
Dec 24, 2012

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About Myself
Richard Lee is currently a contributing analyst for FXStreet.com. Previously, Richard was a senior FX analyst for DailyFX.com and featured on Yahoo! Finance and Bloomberg. He draws from more than a decade of financial experience in several different asset classes - with emphasis in foreign exchange and equities.

Richard Lee's Blog

Forex: World Bank Deals EUR/USD Lower

Posted on January 16, 2013 at 5:44pm 0 Comments

In a surprising announcement, World Bank officials have downgraded growth forecasts for the global economy in the upcoming year. The announcement is weighing heavily on major currency advancements, particularly the EURUSD. Continuing off of yesterday’s decline, the single currency still remains below 1.3320 support.



World Bank Lowers Growth



Officials at the Washington based bank today forecasted global growth to remain lackluster in 2013,…

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Forex: USD/JPY Remains Below 89.00

Posted on January 16, 2013 at 5:42pm 0 Comments

Japanese yen strength continued for the second straight session, keeping the USDJPY pair below 89.00 resistance in the near term. And, given the recent spate of bearish fundamental events, it’s possible the pair could see a test of support via the 86.00 in no time.



Japanese Consumer Slump



With the world’s third largest economy mired in an economic slump, today’s economic data release may have worsened the overall picture a bit. According…

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Forex: PM Abe Lifts USD/JPY Through 89.00

Posted on January 11, 2013 at 2:06pm 0 Comments

In his first fiscal move since being re-elected as Japan’s prime minister, Shinzo Abe announced plans today that would pump more stimulus into the Japanese economy before Upper House elections in July. The enormity of the stimulus package has lifted concerns of further yen debasement, allowing the USDJPY pair to rocket through the 89.00 resistance barrier.



Stimulus Abound



According to statements released by the Cabinet Office in the…

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Week in Preview: Fed Beige Book, China GDP Headline Weekly FX Events

Posted on January 11, 2013 at 2:05pm 0 Comments

Economic fundamentals are back in focus for next week with key data releases likely to dictate major currency price action.  Incidentally, traders will continue to eye speculation regarding the impending debt ceiling debate, along with US earnings, as it coordinates with the rising concern over an early withdrawal of Fed stimulus.



UK Consumer Price Index (January 15th, 4:30AM EST)



Although not recently gaining attention, this month’s UK…

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Comment Wall (1 comment)

At 9:31pm on December 20, 2012, Angely said…

Hello Richard Lee, it's pleasure to meet you too 

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