The Swiss franc profited from the decline of equities and commodities and gained against all other major currencies, bolstered by demand from Forex market participants for a safe haven. The Standard & Poorâs 500 Index fell 0.2 percent, following the previous 0.5 percent drop. The Reuters/Jefferies CRB Index of raw materials fell 0.3 percent. June futures for crude oil delivery lost 0.9 percent and traded at $112.56 per barrel. The question … “Franc Goes Higher While Stocks & Commodities Fall”
Month: May 2011
NZD/USD – Trading the New Zealand Employment Data
Did New Zealand recover from the earthquake? The upcoming employment figures will provide an answer and a direction for NZD/USD. Here are the details and 5 possible scenarios. Indicator background New Zealand is unique in publishing its employment data only once per quarter. These figures, important in any country, are magnified by the frequency. Q4 was … “NZD/USD – Trading the New Zealand Employment Data”
Australian Dollar Declines as RBA Holds Interest Rates
The Australian dollar fell today after Australia’s central bank kept its main interest rate unchanged and as commodities retreated, reducing appeal of currencies tied to growth. The Reuters/Jefferies CRB Index of raw materials slipped 0.5 percent. The Reserve Bank of Australia kept its 4.75 percent and bank’s Governor Glenn Stevens said in his statement: At today’s meeting, the Board judged that the current mildly restrictive stance of monetary policy remained … “Australian Dollar Declines as RBA Holds Interest Rates”
Great Britain Pound Down on Poor PMI Report
The Great Britain pound slid today after the report showed that the UK manufacturing PMI unexpectedly dropped, reducing the probability of an increase of the interest rates this week. Britain’s manufacturing PMI fell from 56.7 to 54.6, the lowest level in seven months, while analysts promised an increase to 57.0. Bank of England Governor Mervyn King said yesterday that the nation’s debt would increase if the interest rates would be raised. … “Great Britain Pound Down on Poor PMI Report”
EUR/USD Faces Price Hesitation
EURUSD: Price hesitation has set in after EUR failed a test of the 1.4899 level on Monday. Though still holding on to its long term uptrend, it remains susceptible to the downside on a possible correction. Guest post by www.fxtechstrategy.com If this occurs, further declines should develop towards the 1.4629 level, its April 27’2011 low. On … “EUR/USD Faces Price Hesitation”
Yen Jumps as bin Laden’s Death Causes Demand for Safety
The Japanese yen gained today as fears that the death of Osama bin Laden will cause revenge from Al-Qaeda spurred demand from investors for the currency as a safe haven. The MSCI Asia Pacific (excluding Japan) Index of shares fell 1 percent. The UK manufacturing PMI declined from 57.1 to 57.0 in April, according to forecasts before the report today. The today’s report is expected to show that the European industrial producer prices … “Yen Jumps as bin Laden’s Death Causes Demand for Safety”
Loonie Weakened by Concerns About Election’s Outcome
Concerns that today’s election will lead to weakening the ruling Conservative party undermined the Canadian dollar. The decline of crude oil, main Canada’s export, drove the currency further down. Prime Minister Stephen Harperâs Conservative minority government is considered successful by many analysts and its weakening or removal from power may reduce markets’ confidence in the Canadian economy and currency. The New Democratic Party may receive enough votes to deny … “Loonie Weakened by Concerns About Election’s Outcome”
AUD & NZD Falls After Bin Laden’s Death
The Australian and New Zealand currencies were rising on today’s trading session, but dropped sharply after the report about the death of Osama bin Laden. US President Barack Obama said that Al-Qaeda leader Osama bin Laden has been killed by the US forces during the fight outside Islamabad, the capital of Pakistan. The resulting gains of the American stock-index futures spurred the US dollar against commodity currencies. The Standard & Poorâs … “AUD & NZD Falls After Bin Laden’s Death”
Dollar Goes Down as Economy Demonstrates Strength
The US dollar extended its fall today as the global economy continues to show robust recovery and on speculations that the Federal Reserve will lag behind other central banks in increasing interest rates. The Dollar Index dropped 0.2 percent from 72.933 on April 29 to 72.764 as of 11:05 in New York today. The Standard & Poor’s 500 Index rose 0.4 percent and the MSCI World Index went up 0.6 percent. The euro … “Dollar Goes Down as Economy Demonstrates Strength”
AUD/CAD, GBP/JPY and EUR/AUD – Elliott Wave Video
In the next video, Gregor Horvat will discuss about the FX crosses, such as Aud/Cad, Gbp/Jpy and Eur/Aud. He will point out some very important levels that traders need to pay attention on for a long-term and short-term period. Guest post by Gregor Horvat Pairs will be analyzed from an Elliott Wave perspective. If you … “AUD/CAD, GBP/JPY and EUR/AUD – Elliott Wave Video”