The Canadian Core Retail Sales indicator measures retail sales, excluding automobile sales, which tend to be very volatile and distort underlying trends. A reading which is higher than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Tuesday at 13:30 GMT. Indicator Background The Core … “USD/CAD: Trading the Canadian Core Retail Sales”
Month: January 2012
Euro And Cable: Temporary Recovery
EUR/USD: A rally in this past week through falling trend line connected from 1.425 top suggests that an impulsive wave (1) is finished and that larger corrective pull-back is underway. This is a blue wave (2), which must be subdivided by three legs before we may look for a downtrend continuation again. Nice resistance/reversal area … “Euro And Cable: Temporary Recovery”
Australian Dollar Gains After Weeks of Losses
The Australian dollar gained against the US dollar and the Japanese yen this week after several weeks of losses. The Aussie ended flat against the euro after a long stretch of weekly gains. The Australian currency was rising for the most part of the week, supported by optimistic outlook for Europe and improving sentiment of Australian consumers. The Aussie (as the currency is often nicknamed) dropped by the end of the week as Australian employment unexpectedly dropped and fears of the European crisis returned … “Australian Dollar Gains After Weeks of Losses”
Pound Climbs on Retail Sales & Worries About Europe
The Great Britain pound jumped as UK retail sales rose last month, while concerns about the future of the European Union increased demand for the sterling as a haven from the sovereign-debt crisis in Europe. British retail sales rose 0.6 percent in December for a month ago, when sales were down 0.5 percent. Automotive fuel and textile, clothing and footwear stores were the biggest contributors to the increase. At the same time, sales in household goods stores … “Pound Climbs on Retail Sales & Worries About Europe”
Mexican Peso Highest Since October as Rates Remain Unchanged
The Mexican peso jumped today to the highest level since October as the nation’s central bank refrained from cutting interest rates as high consumer prices hurt country’s economic growth. The Bank of Mexico left its benchmark overnight interbank funding rate at the record low 4.50 percent as inflation exceeded expectations for three consecutive months. Inflation accelerated to 3.82 percent in the fourth quarter from 3.14 percent in the third quarter after the peso … “Mexican Peso Highest Since October as Rates Remain Unchanged”
Euro Drops as Greek Debt Talks Resume
Euro is dropping, falling from highs not seen for two weeks, as Greek debt talks resume. They’re still working out the details with private bondholders on how to proceed. The euro’s recent rally has been based on the idea of the Greek deal getting done — and continued talks have some Forex traders nervous. Back in October, private bondholders agreed to a steep haircut in order to help Greece, but many … “Euro Drops as Greek Debt Talks Resume”
Japanese Yen Mixed as Uncertainty Creeps In
Japanese yen is mixed today, heading higher against the euro, but lower against the US dollar and the UK pound. Uncertainty about Greece is creeping into the picture, weighing on the euro, but there is enough good news — so far — that other high beta currencies are maintaining their gains. Yen is gaining against the euro as worries about what happens to talks about … “Japanese Yen Mixed as Uncertainty Creeps In”
US Forex Traders More Profitable in Q4 2011, Yet Their
The last quarter of 2011 saw improved profitability for forex traders in the United States. On the other hand, the number of active traders dropped by 10% during the quarter. Did the losers give up on forex trading? Since October 2010, US forex brokers are obliged publish the profitability percentage among active traders, and the … “US Forex Traders More Profitable in Q4 2011, Yet Their”
South African Central Bank Keeps Rates Steady, Rand Maintains Gains
The South African rand kept its gains today after the South African Reserve Bank left its main interest rate unchanged at yesterday’s monetary policy meeting to support recovery of the nation’s economy. South Africa’s central bank maintained its key repurchase rate unchanged at 5.5 percent, a move expected by market analysts. The main lending rate is at 30-year low. Gill Marcus, Bank’s Governor, said that the current … “South African Central Bank Keeps Rates Steady, Rand Maintains Gains”
Canadian Dollar Goes Lower with Crude. May it Rebound?
The Canadian dollar went lower today as a drop of crude oil prices overshadowed gains of stocks. The currency was rallying yesterday and may yet resume its rally amid positive market sentiment. The Standard & Poorâs 500 Index gained 0.5 percent, while the MSCI World Index of stocks added 0.9 percent. Crude oil retreated, on the other hand, and futures were down 0.5 percent to $100.61 per barrel in New … “Canadian Dollar Goes Lower with Crude. May it Rebound?”