The Conference Board Consumer Confidence Index is based on a monthly survey of about 5,000 U.S. households regarding their opinion of the economy. Traders should pay close attention to its release, which always has a strong impact on market prices. A higher reading than the market forecast is bullish for the dollar. Here are all … “GBP/USD: Trading the US CB Confidence November 28 2011”
Month: November 2011
Rand Gains on Record US Retail Sales & Hopes for EU
The South African rand advanced today as the US retail sales demonstrated a record growth during Thanksgiving, while hopes emerged that the European Union would find a way to deal with its problems. The retail sales in the United States climbed the record 16 percent during the Thanksgiving holiday period. There are rumors that the International Monetary Fund prepared a bailout in case Italy would be threatened by the debt crisis, but … “Rand Gains on Record US Retail Sales & Hopes for EU”
USD/CHF Bullish Waves Now Targeting Parity
Usd/Chf is trading higher for few weeks now, which is nice after we called end of a correction at 0.8557, where could be a low of a wave II as labeled on the chart! Well, if thats the case, then we know that pair is now trading at the start of black wave III, which … “USD/CHF Bullish Waves Now Targeting Parity”
EUR/USD Down for Fourth Week
The euro fell against the US dollar for the fourth week in a row, posting the longest losing streak in 18 months. The currency also fell against the Japanese yen, declining for the third week. But the UK pound managed to perform even worse than the shared European currency, therefore the euro was up versus the UK currency this week after three weeks of losses. The issues of Europe remained the same. The borrowing costs of the European nations … “EUR/USD Down for Fourth Week”
Pound Profits from Europe’s Woes
The Great Britain pound closed higher against most of the major currencies, including the Japanese yen, the euro and the Swiss franc, though fell versus the US dollar, as the ongoing debt issues in the European Union made traders to consider the sterling something like a refuge from Europe’s problems. The UK stocks rose for the first time in 10 sessions. The FTSE 100 Index advanced 0.7 percent. The yield on the gilts maturing in 10 years increased 14 … “Pound Profits from Europe’s Woes”
Euro Lowest Since October
The euro dropped against the dollar and the yen to the lowest rate since October and retreated versus the pound today as there are no sings that the crisis in Europe may end. The Italian borrowing costs surged to the highest level since 1997, reinforcing concerns about the debt crisis. Analysts say that the contagion now isn’t limited to only the peripheral economies. The downgrades of Portugal’s and Hungary’s credit ratings weren’t helping to improve the sentiment. And now … “Euro Lowest Since October”
Canadian Dollar Falls as Risk Aversion Rises
Risk aversion was the main driver today on the Forex market, as the week came to a close. With risk aversion rising, the Canadian dollar dropped, ending the week on a lower note against the US dollar. Loonie weakened against the US dollar on the day following Thanksgiving, US equities fell on concerns about what is next for the eurozone. Troubles in Europe continue as bond yields rise, and as credit rating continue to drop; Belgium was the latest … “Canadian Dollar Falls as Risk Aversion Rises”
US Dollar Gains as Europe Continues to Struggle
US dollar is heading higher on the Forex market, gaining as traders look for safe haven in the face of more European troubles. This time, it’s a credit rating cut for Belgium. US dollar is getting a boost today, rising against majors as US stocks move modestly lower on Black Friday. High beta currencies are heading lower today as concerns about what’s coming worry investors and Forex traders alike. … “US Dollar Gains as Europe Continues to Struggle”
Record Drop of Yuan Since July 2010
The Chinese yuan headed for a third weekly drop today, demonstrating the longest decline since July 2010, on the speculation that the slower economic growth will cause China to trim the currency’s gains to protect the nation’s exporters. The government report showed that exports grew 15.9 percent in October, showing the slowest growth rate in almost two years. The data from HSBC Holdings Plc and Markit Economics signaled that the Chinese manufacturing may … “Record Drop of Yuan Since July 2010”
Rand Heads to Weekly Drop on European Problems
The South African rand dropped today, heading to the worst week in more than two months, as the European debt crisis continues to produce a downward pressure on the riskier currencies. The market sentiment worsened after German Chancellor Angela Merkel rejected the idea of joint euro-bonds. Germany’s leader reasoned that the idea was a too easy way for exiting the crisis that can hurt the fiscal discipline of the peripheral European economies and lead to even bigger … “Rand Heads to Weekly Drop on European Problems”