The Australian dollar weakened today as the government report showed that Australian employers added fewer jobs than was predicted by analysts. The number of employed persons in Australia grew by 7,800 in May from April, compared to forecasts of an increase by 25,600. The reading wasn’t bad anyway, compared to the April slump by 29,400. Yet the report caused speculation that the fundamentals will restrain Australia’s central bank from increasing interest rates on its next … “Australian Dollar Retreats on Low Employment Growth”
Month: June 2011
RBNZ Holds Rates, Kiwi Rises
The Reserve Bank of New Zealand kept the main interest rate unchanged today, but signaled that it may be raised rather soon, boosting the New Zealand dollar. The RBNZ left the Official Cash Rate (OCR) unchanged at 2.5 percent today. Reserve Bank Governor Alan Bollard said in his statement: As GDP growth picks up, underlying inflation is expected to rise. A gradual increase in the OCR over the next … “RBNZ Holds Rates, Kiwi Rises”
Never Risk More Than 2% of Your Account At Once
The tip in the headline is my contribution to a great project by FXStreet in which experts share their tips. For newbies, it is important to have enough breathing space to learn before they burn out their account. In the article published here, I elaborate on this matter. I am honored to participate in this … “Never Risk More Than 2% of Your Account At Once”
MOF on heightened alert as USD/JPY breaks 80
With USD/JPY back below the critical 80 level once again, it is no surprise that Japanese finance officials are expressing increased concern, especially at a time when the economy is attempting to recover from the aftermath of the tragic March earthquake and tsunami. USD/JPY has been creeping lower progressively since the end of May. In … “MOF on heightened alert as USD/JPY breaks 80”
Don’t Rule Out Another Rate Delay in the Euro-Zone
A signal that the ECB will raise the rates in July is widely expected from Jean-Claude Trichet in the press conference that follows the upcoming rate decision. But is everything so rosy? Here are 5 factors that could yield a surprising delay in rate hikes. ECB Preview and how this could impact euro dollar. In … “Don’t Rule Out Another Rate Delay in the Euro-Zone”
Yen Profits from Fears of European Crisis
The Japanese yen rose today as the concern that the sovereign-debt crisis in Europe will worsen bolstered attractiveness of Japan’s currency as a safe haven. The International Monetary Fund lent â¬26 billion euro, but said that the loan “entails important risks”. Germany’s Finance Minister Wolfgang Schaeuble stated that bondholders have to contribute a “substantial” portion of a second bailout package for Greece. The MSCI World Index retreated 0.2 percent. USD/JPY went … “Yen Profits from Fears of European Crisis”
Pound Goes Lower on Shop-Price Inflation & Retail Sales
The Great Britain pound weakened today after the report showed that the growth of the UK shop prices slowed and retail sales decreased in May. British Retail Consortium reported that the retail sales posted an annual decline by 2.1 percent in May, following the growth by 5.2 percent in April. The shop-price inflation decreased to 2.3 percent in May from 2.5 percent in April. Stephen Robertson, Director General, British Retail Consortium, explained the sharp … “Pound Goes Lower on Shop-Price Inflation & Retail Sales”
Australian Dollar Falls on Concerns for Economic Growth
The Australian dollar dropped today on the mounting concerns about the slowdown of the global economic recovery, caused by the debt crisis in European and the unfavorable economic data from the US. The International Monetary Fund said that its aid program for Portugal “entails important risks”. The IMF also said that “important challenges remain to overcome sovereign debt problems in the euro area”. These words reduced optimism for the Eurozone economic stability, even though the IMF … “Australian Dollar Falls on Concerns for Economic Growth”
US Dollar Weakens on Bernanke Speech
The US dollar weakened after Federal Reserve Chairman Ben S. Bernanke suggested that the Fed should maintain stimulus as “US economic growth so far this year looks to have been somewhat slower than expected”. Such dovish statement wasn’t surprise for Forex traders after the terrible economic reports last week. Still, the speech was negative for the dollar as it reduced probability that the Fed will lift … “US Dollar Weakens on Bernanke Speech”
Euro Higher Than Gbp and Aud, But Lower Against the
Markets are very calm today during the US trading session, with majors trapped in a very tight range. As such, it’s a perfect time to look at some cross pairs, especially with Euro, which is in a quite bullish mode for the past few days and weeks. We will take a look on the Eur/Aud … “Euro Higher Than Gbp and Aud, But Lower Against the”