US dollar is mostly lower today, especially against high beta currencies. Risk appetite is making an appearance, and Forex traders and others are looking for higher yields. There is some optimism about the US economic recovery, as well as hopes for an improved global economic situation. In the United States, the latest unemployment claims data has reported that jobless claims dropped by 50,000. The news is welcome to those looking … “US Mostly Lower as Risk Appetite Makes an Appearance”
Month: January 2012
Euro Breaks through 1.29 Level
Euro is breaking higher today, moving through the 1.29 level against the US dollar. Good news regarding debt auctions in Europe, plus good labor market news in the United States, has Forex traders looking for higher yields. Risk appetite is making an appearance as optimism returns to the markets. In Europe, French borrowing costs dropped, and Spain sold more bonds than expected. On top of that, jobless claims in the United … “Euro Breaks through 1.29 Level”
Malaysian Ringgit Goes Higher Ahead of European Debt Auctions
The Malaysian ringgit rose today as investment environment looked good for currencies of emerging markets amid growth of the US economy and hopes for Europe. Spain sold more than its maximum target at today’s debt auction as demand for government bonds was far higher than the amount offered. French borrowing costs dropped. China eased capital requirements for lenders in an attempt to stimulate its economy. A rally of stocks and commodities followed, adding to positive … “Malaysian Ringgit Goes Higher Ahead of European Debt Auctions”
Rand Weakens as No Change to Monetary Policy Expected, Rebounds
The South African rand was weaker today as analysts speculated that the nation’s central bank will keep interest rates unchanged at today’s monetary policy meeting. The rand rebounded currently. Most economists believe that the South African Reserve Bank will keep its main interest rate at 5.5 percent for a seventh consecutive meeting today. Bank’s Governor Gill Marcus was keeping rates steady last year as threat … “Rand Weakens as No Change to Monetary Policy Expected, Rebounds”
GBP/USD: Trading the British Retail Sales Jan 2012
The British Retail Sales is a key economic indicator, focusing on UK consumer spending. A reading that is higher than the market forcast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Friday at 9:30 GMT. Indicator Background Consumer spending is one of the most important components of … “GBP/USD: Trading the British Retail Sales Jan 2012”
Australian Employment Deteriorates, Aussie Down
The Australian dollar dropped today after the report showed an unexpected decline of employment, making traders speculate about a possible interest rate cut by the Australian central bank. Market participants expected an increase of Australian employment by 10,200. Alas, such hopes haven’t materialized. The Australian job market lost 29,300 in December, following the November decrease by 7,500 jobs. The unemployment rate in November was revised down by 0.1 percentage point to 5.2 percent … “Australian Employment Deteriorates, Aussie Down”
Negative Domestic Data Hurts New Zealand Dollar
The New Zealand dollar retreated today as virtually all macroeconomic reports from New Zealand were negative this week, making the currency less attractive for Forex traders. The New Zealand Institute of Economic Research Quarterly Survey of Business Opinion showed that economic activity slowed in the last three months of 2011. The Real Estate Institute of New Zealand House Price Index declined 0.1 percent in December from a month ago … “Negative Domestic Data Hurts New Zealand Dollar”
USD/JPY: Trading the Philadelphia Index January 2012
The Philadelphia Fed Index is a key manufacturing report closely monitored by analysts and traders. The manufacturing sector is an important component of the economy and the index provides a useful reading for determining whether the economy is in a growth or contraction phase. An index reading which exceeds the forecast is bullish for the US … “USD/JPY: Trading the Philadelphia Index January 2012”
FXCM Enjoys 19% Rise in Retail Customer Volume in 2011
US forex broker FXCM saw a rise in retail trading volume to 3.7 trillion. Institutional customer volume leaped by 56% to 1.2 trillion. The month of December saw lighter December than November in terms of trading volume, but a rise in tradeable accounts. It also enjoyed a year-over-year rise in this month in both trading … “FXCM Enjoys 19% Rise in Retail Customer Volume in 2011”
Spain & Greece Successfully Sell Debt, EUR/JPY Advances, USD/JPY Down
The Japanese yen rose against the dollar, but fell versus the euro today as sentiment about the situation in Europe improved after Spain and Greece successfully auctioned their debt, reducing demand for safer currencies. Greece sold â¬1.625 billion of 13-week bills with yield dropping to 4.64 percent at yesterday’s auction from 4.68 percent on December 20. Greek Prime Minister Lucas Papademos will talk to private bondholders today in an attempt … “Spain & Greece Successfully Sell Debt, EUR/JPY Advances, USD/JPY Down”