The Australian dollar erased losses versus the US counterpart today as the government report showed that the value of new capital expenditures made by private businesses increased in the first quarter of this year. The seasonally adjusted estimate for total new capital expenditure rose 3.4 percent in the first three months of 2011, following the increase by 1.5 percent it the previous quarter. The forecast value was 2.8 percent. The positive data caused investors to increase … “Australian Dollar Rises with Private Capital Expenditure”
Month: May 2011
EUR/USD and USD/CHF Technical Analysis
EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains. EURUSD: EUR has resumed its long term uptrend after rallying back above the 1.4266/79 levels, its key resistance level in early morning trading today. A firm hold above that level on a weekly closing basis will build a base for further strength towards the 1.4576 level, … “EUR/USD and USD/CHF Technical Analysis”
Rumor: Gaddafi and Rebels Reach a Ceasefire
There’s talk that the Libyan government led by Colonel Muammar al-Gadaffi and the military leaders of the Libyan rebels based in Benghazi have reached a deal on a ceasefire. Local agreements have been reportedly reached in the main cities that have seen fighting such as Misrata and Brega. NATO is still bombing Gadaffi’s forces and … “Rumor: Gaddafi and Rebels Reach a Ceasefire”
Euro Goes Higher as China Plans Purchase of European Bonds
The euro advanced today on the speculation that Asian countries will buy European bonds despite the debt crisis that still threatens stability of Europe’s economy. According to Financial Times, Klaus Regling, Chief Executive Officer of the European Financial Stability Facility, said that investors from China and other Asian countries are planning to buy Portuguese bailout bonds after the EFSF will start selling them in June. The euro also … “Euro Goes Higher as China Plans Purchase of European Bonds”
Swiss Franc Jumps to Record vs. Euro
The Swiss franc climbed the record against the euro and advanced versus all other most-traded currencies as the sovereign-debt issues in Europe continue to drive investors to safety. Juergen Stark, a Member of the Executive Board of the European Central Bank, said that restructuring of Greeceâs debt “cannot, must not be the solution”. Olli Rehn, a European Commissioner for Economic and Financial Affairs, said in the interview to the French newspaper Les Echos that Greek debt maturities could … “Swiss Franc Jumps to Record vs. Euro”
EUR/USD and EUR/GBP Technical Analysis
EURUSD: Sets Up For Further Weakness EURUSD: With further downside momentum continuing to be seen, EUR now looks to weaken further towards the 1.4020/00 levels, its mar 28’2011 low/psycho level. This zone is expected to hold as support on an initial test and turn the pair back up. However, if it breaks, further declines are … “EUR/USD and EUR/GBP Technical Analysis”
Aussie Drops with Completed Construction Work
The Australian dollar fell today on concerns about the impact of Europe’s debt crisis on the global economy and after the report showed that completed construction work grew less than predicted. The preliminary report about Australia’s construction work done showed an increase by 0.7 percent. That’s two times below the median forecast of a 1.5 percent growth. The MSCI Asia Pacific Index of shares fell 0.6 percent. The Credit Suisse AG index … “Aussie Drops with Completed Construction Work”
Pound Gains as Exports Support GDP Growth
The Great Britain pound strengthened today after the report showed that increasing exports helped to sustain the growth of the UK economy, increasing attractiveness of Britain’s currency to investors. Britain’s gross domestic product grew by 0.5 percent in the first quarter of 2011, unrevised from the previously published estimate. Exports of goods and services rose by 3.7 percent, helping the growth. At the same time, imports fell by 2.3 percent, resulting in the decline of the trade deficit to £5.7 … “Pound Gains as Exports Support GDP Growth”
Maria Damanaki Says Greece Could Be Thrown Out of
The EU Fisheries Commissioner, Maria Damanaki, said that the membership of Greece in the Euro-zone is endangered. This is the most serious threat since these talks began a few weeks ago around the “secret meeting” in Luxembourg. Back to the drachma for Greece? * Note: This post is updated. Previous information posted here was mistaken. … “Maria Damanaki Says Greece Could Be Thrown Out of”
AUD/USD: Trading the Private Capital Expenditure Release
This broad quarterly measure of economic activity always rocks the Australian dollar, and provides a trading opportunity on AUD/USD. Here is the information about this events, and 5 possible outcomes for the Australian dollar. Published on Thursday, at 1:30 GMT. Indicator Background Investments by factors in the private sector are a a genuine gauge of … “AUD/USD: Trading the Private Capital Expenditure Release”