The Canadian Housing Starts indicator is considered by analysts as a good measure of consumer demand in the housing sector. As a house is likely to be the largest purchase that a consumer will make, this indicator provides critical data about the mood of consumers and the health of the economy. Here are all the … “USD/CAD: Trading the Canadian Housing Starts”
Month: October 2011
Prospects for Better Employment in Australia Bolster AUD
The Australian dollar gained today against the US dollar and the Japanese yen as analysts predict the employment report would show an improvement of the Australian job market. Analysts predict the employment report that will be released on October 13 may show an increase by 10,100 jobs. Today’s report from ANZ didn’t support such positive outlook as the number of the job advertisements fell 2.1 percent in September (month-on-month). Nevertheless, Forex traders were … “Prospects for Better Employment in Australia Bolster AUD”
Sterling Rescued by BoE Statement, Future Remains Unclear
The Great Britain pound was falling this week before the Bank of England announced its decision to expand bond purchasing program, brightening the grim outlook for Britain’s economy. This week had a plenty of bad signs for the UK economy. The stalling construction sector, the slowing economic growth and the falling house prices — all these factors supported a pessimistic view on the economic conditions in the UK. There were positive sings, but they … “Sterling Rescued by BoE Statement, Future Remains Unclear”
Good Week for Euro Spoiled by Credit Rating Cuts
The euro erased its gains versus most major currencies today as Fitch Rating downgraded credit ratings of Italy and Spain, reminding traders that the story of debt problems in Europe is far from over. Fitch reduced Italyâs credit rating to A+ from AA- and cut Spainâs rating to AA- from AA+. The outlook for both nations is negative. The potential danger of the Eurozone debt crisis was one of the reasons that … “Good Week for Euro Spoiled by Credit Rating Cuts”
USD Falls After Non-Farm Payrolls, Rebounds
The US non-farm payrolls grew almost two times of the forecast value, supporting the optimistic outlook for the US employment caused by the ADP report earlier this week. The US dollar fell after the payrolls were released, but currently regained its strength. The US employers added 103,000 jobs in September, compared to the median forecast of 55,000. The August reading was revised from “no change” to the growth by 57,000. The unemployment rate remained at 9.1 … “USD Falls After Non-Farm Payrolls, Rebounds”
Canadian Jobs Data Gives Loonie a Boost
The Canadian dollar has been struggling this past week, experiencing difficulties as economic data has been in doubt. Additionally, the loonie was briefly used as a funding currency for carry trades with the Aussie and the kiwi. Now, though, things are changing a bit. The latest Canadian employment numbers have been released, and it appears that more jobs were added to the payrolls. Indeed, both the US and Canada saw a better than … “Canadian Jobs Data Gives Loonie a Boost”
Euro Ready to Lock In Weekly Gain
Euro is heading higher today, ready to lock in a weekly gain. After a bit of a choppy beginning to the week, euro is ready to go out with gains, ending two weeks of losses against the US dollar. For the most part, euro gains today are all about the optimism felt by forex traders and investors on markets around the world. A number of somewhat surprising — and positive — developments are contributing to a new sense … “Euro Ready to Lock In Weekly Gain”
Pound Rebounds as Confidence Improves
The Great Britain pound regained its strength today after yesterday’s decline as Forex traders looked at the Bank of England bonds purchasing program more favorably, regaining confidence in Britain’s currency. The BoE announced yesterday that it’s expanding its asset purchase program. The European Central Bank followed the BoE with boosting bonds purchases, but the reaction of Britain’s currency on the monetary decision was completely opposite to the reaction of the euro. While … “Pound Rebounds as Confidence Improves”
Australian and New Zealand Dollars Head to Weekly Gain
The Australian and New Zealand currencies gained today, heading to weekly gain, as stocks rallied after the central banks of the European Union and Great Britain made efforts to stimulate economies of their nations. The European Central Bank signaled yesterday about its readiness to support the EU banks. The European Commission is planning injections of funds into the region’s banking system. The willingness of the EU officials to act in response to Europe’s problems has been welcomed … “Australian and New Zealand Dollars Head to Weekly Gain”
A Return to Job Gains? Not Necessarily So – NFP Preview
After a flat Non-Farm Payrolls report for August, September’s figures are expected to be positive, which means a dollar negative outcome in the current environment. Recent data leaves room for doubt about a gain in jobs. NFP Preview. As QE3 is not only off the table, but far away from it, the figures will be … “A Return to Job Gains? Not Necessarily So – NFP Preview”