The Canadian Ivey PMI (Purchasing Managers’ Index) is an important leading indicator which focuses on the services sector. As the PMI comes out at the beginning of each month, analysts and traders look closely at the index readings for any hint of a market trend. A reading which is higher than the market forecast is … “USD/CAD: Trading the Canadian Ivey PMI Index Dec 2011”
Month: December 2011
Forex Crunch Key Metrics – November 2011
November saw more drama in the European debt crisis that gripped the world, but the actual currency movements were lower than October and definitely lower than September. This was reflected in lower traffic during this month. On the bright side, the number of subscribers to the mailing list doubled. While unique visitors and page views … “Forex Crunch Key Metrics – November 2011”
European Sentix Investor Confidence Falls
The highly regarded Sentix Investor Confidence fell deeper into negative territory, hitting -24 points. This is a survey of around 2800 investors A small slide from -21.2 to -21.4 points was expected. This reflects pessimism for the fourth consecutive month. . Earlier in Europe, the final version of services PMI for November slid from 47.8 to … “European Sentix Investor Confidence Falls”
Surprisingly Good Sentiment Hurts Dollar, Leading to Weekly Losses
The US dollar was down this week against most major currencies as the unexpectedly positive mood among Forex traders damped demand for the safety of the US currency. The greenback rose against the yen, but even the franc (which is still often behaves as a safe currency) outperformed the dollar. At first, it looked like the negative sentiment from the previous week would continue affect markets. But then the announcement of the joint effort … “Surprisingly Good Sentiment Hurts Dollar, Leading to Weekly Losses”
Canadian Dollar Erases Daily Gains
The Canadian dollar retreated, losing its initial gains, after the report showed that the Canadian employment declined instead of rising as was predicted and the unemployment rate unexpectedly increased. The Canadian employment was expected to rise by 18,100 jobs, but instead it decline by almost the same amount (18,600 on the seasonally adjusted basis) in November. The unemployment rate edged up from 7.3 percent to 7.4 percent, while market participants hoped it … “Canadian Dollar Erases Daily Gains”
Swiss Franc Drops on Talks About Another Intervention
The Swiss franc declined as Switzerland signaled that it may take steps to further weaken then nation’s currency, which is already subdued by its peg to the euro. The Swiss National Bank set the ceiling for the franc at 1.20 francs per euro on September 6. The SNB was trying to weaken the Swiss currency for several years, but it was the first time when the central bank was able to contain Swissie’s gains … “Swiss Franc Drops on Talks About Another Intervention”
Canadian Dollar Gains Slightly on Good US News
Canadian dollar is advancing on good economic news out of the US. According to the Bureau of Labor Statistics in the US, 120,000 jobs were added. This news is good for Canada, and the loonie advanced accordingly. Because the US is Canada’s largest export market, the news that the employment picture is improving in America is positive for the loonie. It’s also helpful that US consumers seem ready to open their wallets this … “Canadian Dollar Gains Slightly on Good US News”
Euro Rally in Forex Trading
Euro is rallying after some earlier weakness as positive sentiment returns to the Forex market. Hopes for ECB/IMF money, as well as good news out of the US, are helping the 17-nation currency. Earlier, the euro weakened as sentiment turned a little negative. US dollar made some gains, but those are being erased as the euro rallies on the latest round of news. There are rumors that the ECB will lend money to embattled … “Euro Rally in Forex Trading”
Dollar Advances, Positive Sentiment Over?
The US dollar gained today as concerns and uncertainty slowly return to the Forex market and demand for the protection by the safe currencies may again emerge. It’s early to say with certainty that the greenback will rally again as the positive mood hasn’t yen gone completely from markets. The optimism about the future of Europe hasn’t quite waned and still puts a downward pressure on the dollar. The United States showed a positive set of fundamental data and that … “Dollar Advances, Positive Sentiment Over?”
AUD Declines, Still Can End Week with Gains
The Australian dollar fell today on the speculation that the European leaders will struggle to find an accord regarding measures for dealing with the region’s crisis. Still, the currency is likely to end this week with impressive gains. The joint effort of the major central banks to bring the costs of dollar swaps down set the tone for the whole week and that tone was positive. The Aussie profited from the good market sentiment and isn’t likely to give … “AUD Declines, Still Can End Week with Gains”