EURUSD: As a rally saw the pair wiping out almost all of its previous week losses, risk of a return above the 1.4248/79 zone is now building up. If this occurs, EUR will resume its long term uptrend and open the door for a move higher towards the 1.4411 level with a break targeting the … “EURUSD: Biased Towards The 1.4248/79 Levels”
Month: April 2011
Aussie Ran Away to Upside, Doesn’t Want to Come Back
Analysts expected a correction of the Australian dollar after the impressive rally a week ago. Instead, the Aussie was climbing to new records against the US dollar almost every day. The reason for the strength of the Australian currency is the continuing global recovery. The macroeconomic data across the world, including the rising non-farm payrolls in the US and the increasing growing manufacturing in China, supported the growth story. The growth of the economy bolsters commodities and that’s good for the Aussie, as it’s a commodity … “Aussie Ran Away to Upside, Doesn’t Want to Come Back”
GBPJPY – Bullishness To Extend Into The New Week
GBPJPY – A strong bullish momentum saw GBPJPY wiping out its two-week losses and breaking through the 132.905 level, its Mar 22’2011 high to close at 135.40 the past week. This rally is coming on the back of a loss of downside momentum at 122.40 and now leaves risk of further price extension towards the … “GBPJPY – Bullishness To Extend Into The New Week”
Chinese Yuan Appreciates with Other Asian Currencies
The strong economic growth of the Asian countries spurred talks about future rate increases. These talks benefited the currencies of the region, including the Chinese yuan. China’s Manufacturing PMI rose from 52.2 to 53.4 in March, according to the China Federation of Logistics and Purchasing. The Bloomberg-JPMorgan Asia Dollar Index, tracking 10 most-traded Asian currencies, increased 0.6 percent this week to 117.61, the highest level since 1997. The MSCI Asia-Pacific Index added … “Chinese Yuan Appreciates with Other Asian Currencies”
Loonie at 3-Year High Against Greenback
The Canadian dollar gained for the fifth consecutive session against its US peer, reaching the highest level in more than three years, as the employment in the US, the biggest trading partner of Canada, improved and crude oil, the main nation’s export, advanced. The contract for delivery of crude oil in May gained as much as 1.6 percent to $108.47 per barrel in New York, the highest since September 2008, on the forecast that the economy of China, the largest energy consumer … “Loonie at 3-Year High Against Greenback”
CAD/JPY Big Winner of Non-Farm Payrolls
CAD/JPY is the big winner of the American Non-Farm Payrolls. The cross broke above the uptrend channel to levels last seen in June 2010. Update on this cross, which is often overlooked. CAD/JPY Technicals At 87.40, the pair is around 140 pips higher today, after already reaching 87.70 earlier in the day. It’s the fifth … “CAD/JPY Big Winner of Non-Farm Payrolls”
Pound Drops as Manufacturing Declines
The Great Britain pound fell today against the US dollar and the euro as the UK Purchasing Managers’ Index slid in March to the lowest level in five months. The seasonally adjusted Markit/CIPS UK Manufacturing PMI fell to 57.1 in March from 60.9 in February. Only marginal decline to 60.7 was predicted by analysts. The report said that the incoming new orders rose at the weakest pace since last October. GBP/USD opened at 1.6028, jumped to 1.6081, … “Pound Drops as Manufacturing Declines”
US Dollar Rises vs. Euro on Non-Farm Payrolls
The US dollar gained against the euro today, ending the 4-day decline, as the US non-farm payrolls provided better-than-expected results. The forecast of a 191,000 increase of the payrolls was considered very optimistic, but reality turned out to be even better as the increase was 216,000. The unemployment rate also made a pleasant surprise, going down to 8.8 percent, while it was expected to stay at 8.9 percent. EUR/USD slipped from 1.4157 to 1.4099 … “US Dollar Rises vs. Euro on Non-Farm Payrolls”
Slump of Japanese Yen Continues Without Slowing
The Japanese yen fell today for the fifth day versus the euro and the Great Britain pound, for the seventh day against the US dollar and declined against all other most-traded currencies today as economic recovery is gaining momentum. Analysts expect that the US non-farm payrolls today will show that US employers added 191,000 jobs in March. Forecasts also promise that the report of Markit Economics will show that the manufacturing … “Slump of Japanese Yen Continues Without Slowing”
Day of Rage in Syria – Oil Jumps
This isn’t an April fool’s joke. Friday’s day of prayer is expected to turn into a day of rage, one of the strongest that Syria has seen. Social networks and text messages are utilized by Syrian opposition factors to stage action all over the Bashar al-Assad’s country. The previous Friday was very bloody – many … “Day of Rage in Syria – Oil Jumps”