The Australian dollar dropped below the parity level with its US counterpart as signs of slower manufacturing in China and falling stocks weakened demand for Australia’s currency. The HSBC preliminary manufacturing Purchasing Managers’ Index dropped to 49.4 in September from 49.9 in August. That’s the lowest level in two months. The MSCI Asia Pacific Index of stocks dropped as much as 4.1 percent, while the Stoxx Europe 600 Index lost 4.2 percent. AUD/USD … “Aussie Below Parity with Greenback”
Month: September 2011
Gold Glitter Gone – 5 Reasons for Gold Bugs to Hide
The price of gold has also been twisted by Bernanke and doesn’t seem to show signs of recovery. It’s not only the absence of QE3 that is driving the price down. Here are 5 reasons why gold is going down long term. In addition to fundamentals, also the technicals point lower. Gold price has lost … “Gold Glitter Gone – 5 Reasons for Gold Bugs to Hide”
AUD/USD Elliott Wave: A Free Fall?
OK, we have seen enough, AUD/USD is not falling in wave (v) as we firstly thought, but its more likely in wave (iii). Why!? Its because of the price action personality, which helps us to label the chart in a correct way. In wave five you will tend to see slow moves with decreasing volumes … “AUD/USD Elliott Wave: A Free Fall?”
Dollar Jumps as Fed Expands Bond Purchases
The US dollar jumped after the Federal Reserve announced it’s going to increase purchases of longer-term securities. The resulting surge of demand for safer currencies was beneficial for the dollar. The Federal Open Market Committee left the federal funds rate at 0 to 0.25 percent range. The FOMC wrote in its statement: The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell … “Dollar Jumps as Fed Expands Bond Purchases”
Big Sigh of Relief in Japan
While the stock market may be disappointed with Fed Twist, the authorities in Japan are probably relived. The Japanese yen had been approaching all time highs against the dollar in recent days. USD/JPY now rises, as the dollar rises across the board and moves away from the intervention zone. Each time the pair got too … “Big Sigh of Relief in Japan”
Currensee Publishes Free eBook About Alternative Forex Investment
Currensee, the first forex social network, has published a new e-book from Forex analyst John Forman.The eBook is named “The Smarties’ Guide to Alternative Investing in the Foreign Exchange Market.” The e-book aims to help individual investors understand how the world currency market works and demonstrates the hidden opportunities many investors are missing by not taking … “Currensee Publishes Free eBook About Alternative Forex Investment”
7 Scenarios for FOMC: Many Measures are Needed for the
Ben Bernanke and his colleagues will be discussing a wide range of monetary stimulus options. Quite a few options are on the agenda, as the Federal Reserve is urged to do something to kick start the economy. QE3 is low on the list. The statement published on Wednesday, 18:15 GMT will be closely watched and will likely … “7 Scenarios for FOMC: Many Measures are Needed for the”
NZ Dollar Falls as Current Account Deficit Widens
The New Zealand dollar dropped today after the government report showed the nation’s current account deficit widened in the second quarter of this year. New Zealand’s seasonally adjusted current account deficit was $2,041 million in the quarter ended in June 2011. This is $507 million above the deficit of the previous three months. Tomorrow’s government report is expected to show the consumer prices inflation slowed to 0.5 percent in the second quarter … “NZ Dollar Falls as Current Account Deficit Widens”
EUR/USD: Trading the US Unemployment Claims Sep 2011
The US Unemployment Claims indicator is released weekly, and measures the number of people filing for unemployment for the first time during the previous week. An increase in unemployment figures will dampen consumer spending and could hurt the dollar as well. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Thursday at … “EUR/USD: Trading the US Unemployment Claims Sep 2011”
Pound Slumps as Confidence Falls, BoE Considers More Stimulus
The Great Britain pound plunged today as the minutes of the central bank’s policy meeting showed the policy makers considered boosting the asset purchasing program, while consumer confidence dropped further. The minutes of the Monetary Policy Committee meeting showed most members of the Committee thought the current monetary policy is appropriate. Yet the minutes also said: Most of these members thought that it was increasingly probable that further asset purchases … “Pound Slumps as Confidence Falls, BoE Considers More Stimulus”