The US dollar was winner against most major currencies today as the non-farm payrolls showed that the employment growth accelerated last month, frustrating the analysts, who expected slower growth. Non-farm payrolls grew by 244,000 in April. The actual reading was much better that the forecast value of 185,000 and above the March change by 221,000 (upwardly revised from 216,000). As it’s often happens with the reports from the Bureau of Labor Statistics, … “Positive Nonfarm Payrolls Give Dollar Basis for Rally”
Month: May 2011
EUR/USD Eyes Channel Support
EUR/USD: As our expected corrective weakness was triggered and sent the pair lower on Thursday, further downside risk is now building up towards its channel support at 1.4420. Guest post by www.fxtechstrategy.com We look for that level to provide a strong support and turn the pair higher in the direction of its long term uptrend. Further … “EUR/USD Eyes Channel Support”
Dollar And S&P Futures Outlook Ahead of the NFP
Traders, dollar is hanging quite well out there, so moves seen over the past few session could really be start of something bigger. However, we still need to keep an eye on some more important price actions and levels. Well, looking at this S&P unlabelled price structure from the 1372 high, a move can be … “Dollar And S&P Futures Outlook Ahead of the NFP”
RBA Inflation Forecast Boosts Aussie
The Australian dollar gained today after the central bank raised its inflation forecast and signaled that it may perform an interest rates hike “at some point” in the future. The Reserve Bank of Australia increased its forecast for growth of consumer prices in 2011 to 3.25 percent from previously predicted 3 percent. The growth forecast remained unchanged at 4.25 percent. The hawkish statement allowed the Australian currency to rise after four day of losses … “RBA Inflation Forecast Boosts Aussie”
Yen Retreats from Seven-Week High on Intervention Expectations
The Japanese yen retreated today, after it reached the highest level in seven week against the US dollar yesterday, on speculation that Japan will intervene to curb recent gains. Japan, together with other members of the Group of Seven, intervened last time to weaken the currency as it surged after the earthquake on March 11. The intervention managed to weaken the currency, but the yen was steadily rising in April, reaching the pre-intervention levels. Even … “Yen Retreats from Seven-Week High on Intervention Expectations”
Pound Digest BOE Rates Decision, Unsure Where to Go
The Great Britain pound weakened after the Bank of England left its target rate unchanged, suggesting that the UK economy is still unprepared to leave accommodative monetary policy. Currently the sterling attempts to rebound, but without any significant success so far. The BoE maintained its official Bank Rate at 0.5 percent and kept its stock of asset purchases at £200 billion yesterday. The last change in the key rate was … “Pound Digest BOE Rates Decision, Unsure Where to Go”
Euro Bulls Keep Hope Even After ECB Rates Decision
The European Central Bank decided to keep its main interest rate unchanged, sending the euro down and frustrating euro bulls. Still, many euro supporters remained unfazed by this decision and hope for another rally of the currency. Jean-Claude Trichet, President of the ECB, said at the press-conference after he left yesterday the minimum bid rate at 1.25 percent: Based on its regular economic and monetary analyses, the Governing Council decided to keep the key ECB … “Euro Bulls Keep Hope Even After ECB Rates Decision”
What is Your Technical Strategy? Win a Book!
How do you trade forex? What indicators and what systems do you use for determining high profitability trades, Stop-Loss and Take-Profit levels? Share your system with us, and win a book about the essentials of forex! How does it work? Describe your system in the comments below: It can be as short or as long as … “What is Your Technical Strategy? Win a Book!”
AUD/USD Bears Looking Strong
With no RBA rate hike on Tuesday, with poor Retail Sales numbers and now also lower stocks and commodities, Aud/Usd does not have a chance for a rise.. Guest post by Gregor Horvat From an Elliott Wave perspective, Aud/Usd shows more and more powerful signs of a third wave, since price fell below the trading … “AUD/USD Bears Looking Strong”
4 Scenarios for the Non-Farm Payrolls
Official expectations remain rather high for the Non-Farm Payrolls. But the figures leading to the release lean lower. If the result is very low, the dollar bears might be disappointed as well. Here are 4 scenarios for the Non-Farm Payrolls. The past two months were quite good with job gains of around 200K each month. … “4 Scenarios for the Non-Farm Payrolls”