The euro plunged today, falling for the fifth consecutive session against the US dollar and the Japanese yen, after Germany’s ruling party lost election. German Chancellor Angela Merkelâs Christian Democratic Union lost election in all six German states. The results of the elections ignited worries that now Germany will be even more opposed to paying bailouts with money of its taxpayers. The Stoxx Europe 600 Index of shares lost … “Euro Sinks After Merkel’s Party Loses Election”
Month: September 2011
Leverate Introduces Economic Calendar and Live News Feed
Leverate, a software provider for forex brokers, launches a real time news feed and calendar in its products. The feed is available in 13 languages and can be integrated to all type of trading platforms. The calendar is updated in real time, without a need to refresh the page, and is available in 17 languages at … “Leverate Introduces Economic Calendar and Live News Feed”
Where To Invest During The Stock Market Collapse?
The US stock market moved significantly lower in August, with S&P500 down to 1100 region once the critical region at 1249 (March 2011 lows) was taken out. Below we have a weekly chart, where you will notice that prices also broke through the lowest support line of a corrective channel which is a very strong … “Where To Invest During The Stock Market Collapse?”
Third Week of Gains for Aussie, Can Rally Be Sustained?
The Australian dollar rallied for almost the whole week, posting the third week of gains against the US dollar in the longest run of weekly gains since April, but by the end of the week fundamentals became unfavorable for the currency. The Australian dollar was rising on the speculation the Reserve Bank of Australia won’t cut the interest rates. Futures on interest rates indicate only 20 percent probability that RBA Governor Glenn Stevens will cut the bank’s main … “Third Week of Gains for Aussie, Can Rally Be Sustained?”
Pound Profits from Terrible US Payrolls
The Great Britain pound gained against the US dollar as bad US non-farm payrolls reduced attractiveness of the greenback. The sterling also moved higher versus the euro as traders are concerned about the European economy. Forex traders that own euro want to find a safe haven as the economy of Europe shows signs of slowdown. The yen and the franc, being the conventional safe currencies, are logical choice, but they are under the threat of intervention. … “Pound Profits from Terrible US Payrolls”
US Dollar Suffers From Terrible Nonfarm Payrolls
The US dollar fell against other major currencies, including the Great Britain pound and the Japanese yen, today after the non-farm payrolls showed that job creation in the US stalled. The currency also slipped against the euro, but later rebounded. US non-farm payrolls showed no employment growth in August. That’s much worse than the market expectations (growth by 74,000) and the worst reading since September 2010, when employment declined … “US Dollar Suffers From Terrible Nonfarm Payrolls”
Franc Jumps as US Payrolls Show Zero Growth
The Swiss franc climbed today against the US dollar, extending its rally for the third day, after the non-farm payrolls showed that US employers weren’t adding jobs last month. US non-farm payroll employment showed no change in August, while the unemployment rate remained at 9.1 percent. Analysts predicted an increase of payrolls by 74,000. July value was revised down from 117,000 to 85,000. It’ll be interesting to see … “Franc Jumps as US Payrolls Show Zero Growth”
Rand Fluctuates as Traders Uncertain About Global Growth
The South African rand fell today as uncertainty of Forex traders about ability of the global economy to maintain growth reduced demand for safer currencies. Yet currently the rand rebounded. Market participants were less inclined to believe in the global economic recovery after the report of Automatic Data Processing showed on August 31 that the US employers added 91,000 jobs last month, less than predicted reading of 102,000. Market sentiment slightly … “Rand Fluctuates as Traders Uncertain About Global Growth”
Swedish Krona Falls as Manufacturing Declines
The Swedish krona fell as the report showed that manufacturing in Sweden contracted last month, reinforcing outlook that the nation’s central bank would cut interest rates. The Swedbank manufacturing index fell to 48.7 in August from 50.1 in July, while the average forecast was 49.8. A reading below 50.0 indicates decline. That was the first decline in two years. The unfavorable report supported the view that the Swedish economy is just … “Swedish Krona Falls as Manufacturing Declines”
US Manufacturing Expands, Dollar Profits
The US dollar advanced today as the unexpected growth of US manufacturing spurred speculation the Federal Reserve won’t be required to stimulate the economy, debasing the US currency. The Institute for Supply Management Purchasing Managers’ Index was at 56.6 in August, little changed from July figure of 56.9. The index was expected to go down to 48.7. A figure below 50.0 indicates decline and above that value shows expansion. The positive data suggest that, … “US Manufacturing Expands, Dollar Profits”