The Australian dollar jumped today as Asian stocks advanced and nation’s manufacturing expanded, increasing attractiveness of Australia’s currency. The Manufacturing Index of Australian Industry Group rose from 47.8 to 50.2 in December. A value above 50.0 indicates expansion and Australia’s manufacturing expanded last month for the first time since June. The MSCI Asia Pacific Excluding Japan Index of stocks advanced as much as 1.7 percent. AUD/USD jumped from 1.0231 to 1.0346 (the highest … “Aussie Jumps with Asian Stocks & Manufacturing”
Month: January 2012
Dollar Drops as Manufacturing Expands in USA & China
The US dollar dropped today as expanding manufacturing in the United States and China damped demand for the greenback as a safe haven. The dollar reached the lowest level in more than a month against the yen. China’s Purchasing Managers’ Index increased from 49.0 to 50.3 in December, according to the report of the China Federation of Logistics and Purchasing on January 1. Analysts predict that the report of the Institute for Supply Management will show today an increase of PMI from 52.7 to 53.3 … “Dollar Drops as Manufacturing Expands in USA & China”
GBP/USD: Trading the British Construction PMI
The British Construction PMI Index, published in the first week of each month, is based on a survey of purchasing managers in the construction industry. Respondents are surveyed for their view of business conditions and sentiment on the economy. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 9:30 GMT. Indicator … “GBP/USD: Trading the British Construction PMI”
Aussie Rangebound Today in Thin Trading
Aussie is trading rangebound today, for the most part, with low volumes. Right now, Aussie is seeing some support from an improvement in gold prices, but other uncertainties have currencies floundering, looking for direction. Additionally, with equity markets in the United States and in Great Britain closed today, thin trading is providing little help in the way of direction for currencies. As a result, Aussie is fluctuating between gains and losses … “Aussie Rangebound Today in Thin Trading”
Japanese Yen Continues to Gain in Forex Trading
Japanese yen continues to gain in Forex trading. Indeed, yen closed out 2011 at highs not seen for years — and not seen for a decade in the case of the euro. Japanese yen is in demand as continued global uncertainty sends traders looking for safe haven. Indeed, even with the problems faced by Japan in 2011, including a massive earthquake and tsunami, the yen remained strong. Japanese financial leaders intervened in the Forex market multiple times, … “Japanese Yen Continues to Gain in Forex Trading”
USD/JPY: Trading the US ISM Manufacturing PMI January 2012
The Manufacturing PMI (Purchasing Managers’ Index) is an important leading indicator which focuses on the manufacturing sector. As this index is released at the beginning of each month, analysts and traders closely examine the index for any hint of a market trend. A reading which is higher than the market forecast is bullish for the dollar. Here … “USD/JPY: Trading the US ISM Manufacturing PMI January 2012”
Forex Crunch Key Metrics December 2011 and 2011 Roundup
The last month of 2011 was slower than previous months as markets slowed down towards the holiday season and despite the break lower of the euro. Looking at the whole of 2011, it was certainly a good year, with a total rise of 75% in page views from 2010. December 2011 numbers: Page Views: 276,680 Visits: … “Forex Crunch Key Metrics December 2011 and 2011 Roundup”