The Philadelphia Fed Index is an important leading indicator, based on a survey of manufacturers in the Philadelphia area regarding their opinion of the economy. As such, it provides a snapshot of the business climate and sentiment in the U.S. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Thursday at 15:00 … “USD/JPY: Trading the Philadelphia Fed Manufacturing Index”
Month: November 2011
New European Governments Provide No Remedy
New governments are put in place, but it is becoming clear that it this will not help. The foundations and the basic expectation of creating growth with austerity are the problem here. Christopher Vecchio, a currency analyst with DailyFx.com discusses the European debt crisis, the impact of a possible failure of the US “Super Committee” to reach … “New European Governments Provide No Remedy”
Canada’s Dollar Goes Down as Sentiment Prevails Over Fundamentals
The Canadian dollar extended its decline for the third consecutive session today as the negative market sentiment, caused by the difficult situation in the European Union, outweighed the fundamentals that weren’t all bad. Borrowing costs of French bonds surged to the record and yield on Spanish securities rose at an auction. Europe remains the main drive of the Forex market. And it drives the market to risk aversion, hurting currencies with higher yield and higher risk. The fundamentals don’t look … “Canada’s Dollar Goes Down as Sentiment Prevails Over Fundamentals”
AUD/USD Headed Lower While Below 1.0340
After a rise from the 1.0048 area seen at the end of the past week, we came out with an irregular formation in wave B)/2). As such, our bias remains clearly to the downside. In fact, wave B)/2) may have already found a pick around 1.0340 if we consider impulsive fall on the intra-day basis … “AUD/USD Headed Lower While Below 1.0340”
Aussie Extends Decline on Europe for Third Session
The Australian dollar declined today, falling for the third straight session, as the renewed concerns about Europe’s sovereign debt crisis sapped investors’ demand for higher-yield. Yield on the Italian 10-year bonds rose to 7.073 percent yesterday. The 7.0 percent was the level that forced Greece, Ireland and Portugal to seek aid. Spain plans to auction â¬4 billion in bonds tomorrow. The minutes of the Reserve Bank of Australia monetary policy meeting were released yesterday. … “Aussie Extends Decline on Europe for Third Session”
South African Rand Falls as Europe Hurts Market Sentiment
The South African rand declined today as worries about the European crisis and its impact on the global economy deepened, reducing demand for higher-yielding currencies among investors. The world still looks at Europe, trying to predict how the situation will progress. South Africa is particularly interested in the wellbeing of the European Union, which is the nation’s biggest trading partner. The subdued inflation expectations makes analysts to expect the South African Reserve Bank to keep … “South African Rand Falls as Europe Hurts Market Sentiment”
US Dollar in Demand as Eurozone Worries Mount
US dollar is in demand as a safe haven as concerns about the eurozone continue to grow. Even though the US has its own economic struggles, the dollar is considered one of the most stable currencies in the world, and Forex traders are looking for that safety. It doesn’t hurt, too, that, once again, there are whispers that the sovereign debt crisis could mean the end of the eurozone. Many Forex traders are … “US Dollar in Demand as Eurozone Worries Mount”
Euro Lower on Bond Yields, Economic Disappointment
Euro is lower today in Forex trading, thanks to higher bond yields in some countries, and to disappointing economic news. It looks increasingly as though EU leaders will be unable to contain the debt crisis, and markets are responding accordingly. One of the biggest issues right now is that bond yields are rising in the eurozone. Italian bond yields continue to rise — even after the ECB bought some bonds … “Euro Lower on Bond Yields, Economic Disappointment”
British Inflation at 5%
The Consumer Price Index in the UK slid from 5.2% to 5%, a bit under 5.2% that was expected. The Retail Price Index (RPI) dropped from 5.6% to 5.4%, also below a drop to 5.5% that was expected. On the other hand, Core CPI ticked up from 3.3% to 3.4%. GBP/USD is bouncing higher following … “British Inflation at 5%”
GBP/USD: Trading the British Jobs Nov 2011
The British Claimant Count Change measures the change in the number of people claiming unemployment benefits. Along with the Unemployment Rate indicator, which is released at the same time, it provides a snapshot of the employment situation and is a market-mover for GBP/USD. Here are the details and 5 possible outcomes for GBP/USD. Published on Wednesday … “GBP/USD: Trading the British Jobs Nov 2011”