The Japanese yen fell for the third day against the U.S. dollar and the euro amid the speculation that the global economy recovers with the accelerating pace, reducing the demand for the yen as the safe currency. The report on Friday showed that the University of Michigan consumer sentiment index rose more than expected, adding to the signs of the economic recovery. The demand for the safety of the Japanese currency wanes as the consumers and the traders feel themselves more confident in the state of the economy. USD/JPY traded … “Yen Declines as Demand for Safety Wanes”
Month: June 2010
Commodity Currency Update
For more information and analysis, visit bforex.com bforex.com USD/CAD The pair which at best is volatile during breakouts has been trading a considerably more volatile pattern over the last 30 days. A break above or below the 200 day moving average typically signals a change in long term outlook. However, we have seen the CAD … “Commodity Currency Update”
Zecco Now Supported On Currensee
Zecco, a large and successful American broker, is finally supported at Currensee – Zecco traders can now share their trades and use Currensee’s social network for free. Hopefully all brokers will join the network and adopt transparency with social sites such as Currensee. Zecco is an American broker that highlights low commissions. They don’t specialize … “Zecco Now Supported On Currensee”
Weekly Movement of Euro
This was not bad week for the euro as the currency rose against some other majors, though the European currency is far from doing well as many other most-traded currencies outperformed it. The euro has begun this week against the U.S. dollar and the Japanese yen from an unfavorable starting position as the possibility of the default in Hungary caused concern that the sovereign-debt crisis is spreading, which caused the drop of the euro. Then … “Weekly Movement of Euro”
Canadian Dollar’s Rally Falters on Low U.S. Retail Sales
The Canadian dollar halted its four-day rally today after the report that the retail sales in the U.S. fell unexpectedly caused concern about the global economy and weakened the currencies tied to growth. The retail sales in the U.S. rose 0.6 percent in April and were expected to increase further by 0.2 percent in May. Therefore, the traders were completely unprepared for the 1.2 percent decline in May. The impact of this data is resounding throughout the markets and affecting … “Canadian Dollar’s Rally Falters on Low U.S. Retail Sales”
Declining U.S. Retail Sales Boosted U.S. Currency
The U.S. dollar rose against other major currencies today after the report showed the decrease of the retail sales, causing the doubt whether the global economic recovery would keep its pace. The U.S. retail sales provided an unpleasant surprise by declining 1.2% in May, while they were expected to increase by 0.2%. While these news might hurt the U.S. currency, the greenback managed to appreciate. The experts say that the currency actually benefited … “Declining U.S. Retail Sales Boosted U.S. Currency”
Pound Weakens as Manufacturing Declines
The Great Britain pound weakened today after the set of unfavorable reports was released, causing concern that the budget cuts, planned in order to fight the budget deficit, would have negative impact on Britain’s struggling economy. Total production output decreased by 0.4 percent between March and April. Month on month the output prices measure for all manufactured products rose 0.3 percent in May, compared to the predicted increase of 0.6 percent and the 1.6 … “Pound Weakens as Manufacturing Declines”
Concern for Global Recovery Goes Away, Helping Euro
The euro extended its rally today as the concerns that the troubles in Europe would slow the global economic recovery eased and the risk sentiment among the investors improved. The economic growth in the U.S. and Asia weakens the impact of the European crisis on the global growth. The MSCI World Index of global stocks gained 0.3 percent, the fourth consecutive increase. Jean-Claude Trichet, the president of the European Central Bank, said yesterday that the bank would continue to buy the government … “Concern for Global Recovery Goes Away, Helping Euro”
Indicators – 3 Reasons Why They Will Hurt Your Trading
Guest post by Jason Madison of beatwallstreetnow.com Indicators are widely used by traders, but just because something is widely used doesn’t that mean it’s good. In fact given that 95% of traders fail it’s probably best to stay away from the herd unless you want to end up in the slaughterhouse. So, here are the top … “Indicators – 3 Reasons Why They Will Hurt Your Trading”
Rising Employment Value Bolstered Aussie
The Australian dollar strengthened today as the report showed the improving conditions on the jobs market and as China’s exports surged. Chinese exports rose 49 percent and imports went up 48 percent in May compared to the previous year. China is Australia’s largest trading partner. The employment increased by 0.2% to 26,900 in May from April; the unemployment rate decreased 0.2 percentage point to 5.2%. The favorable figures added to the evidences of the strong Australian economy, while … “Rising Employment Value Bolstered Aussie”