Japanese yen is heading higher today as concerns about Greece once again take center stage. While Greek Prime Minister Lucas Papademos insisted that some progress was made over the weekend, he also pointed out that there are still some conditions left. The unresolved situation is adding to the uncertainty that is prompting risk aversion today. As a result of the risk aversion in the markets, Japanese … “Japanese Yen Gets a Boost on Greece”
Month: February 2012
Euro Drops as Talks Between Greece & Creditors Near to Conclusion
The euro declined today before results of talks between Greece and its creditors will be revealed. Traders are nervous as the outcome of the discussions is uncertain and they thought that keeping the euro is too risky. The talks regarding a proposed debt “haircut” for Greece have become too long, indicating that an agreement is hard to achieve. It looks like the main problem remains the same — unwillingness (or inability) of Greece … “Euro Drops as Talks Between Greece & Creditors Near to Conclusion”
Elliott Wave Market Overview February 6 2012
Hello Traders! Hope you all had a great weekend! USD is trading higher after a gap lower on Euro and S&P Futures seen at the open. Commodity currencies are also looking weak after lower metals, with gold down more $40 from Friday highs. Looks like we could see more USD strenght in this week, but … “Elliott Wave Market Overview February 6 2012”
EUR/USD: Trading the German IP February 2012
The German Industrial Production indicator measures change in production in the important manufacturing, utilities and mining sectors. A reading which is higher than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 11:00 GMT. Indicator Background The German Industrial Production gives analysts a snapshot of economic conditions in … “EUR/USD: Trading the German IP February 2012”
USD/CAD: Trading the Canadian Ivey PMI Index Feb 2012
The Canadian Ivey PMI (Purchasing Managers’ Index) is an important leading indicator, based on a survey of purchasing managers from a range of sectors in the economy. 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 … “USD/CAD: Trading the Canadian Ivey PMI Index Feb 2012”
Good Employment Rescues Dollar After Week of Bad Data
The US dollar had a mixed week as there was plenty of negative data from the United States, yet there also were positive indicators, especially employment figures. The greenback rose against the euro and the yen, but declined against higher-yielding currencies. The US dollar started this week stronger against most of the currencies, but quickly turned to the downside as negative reports had begun to flow in. The Chicago Purchasing Managers’ Index … “Good Employment Rescues Dollar After Week of Bad Data”
NZ Dollar at Record vs. Euro as US Employers Add Jobs
The New Zealand dollar climbed today, reaching the all-time high versus the euro, after positive employment data from the United States bolstered risk appetite among Forex traders, making them prefer higher-yielding currencies. US employment data overshadowed the problems of Europe for a day and provided a major boost for currencies tied to growth. The United States has its share of problems, but traders prefer to look at a brighter side of things in the USA … “NZ Dollar at Record vs. Euro as US Employers Add Jobs”
Canada’s Dollar Jumps on Good US Payrolls
The Canadian dollar jumped today as positive employment data from the United State boosted risk appetite among Forex traders and overshadowed poor employment report from Canada itself. Reports ahead of US non-farm payrolls provided a mixed picture about the US employment market as ADP employment report showed less-than-expected growth, while unemployment claims dropped more than was forecast. The payrolls came out today, supporting positive … “Canada’s Dollar Jumps on Good US Payrolls”
US Dollar Pares Earlier Gains
US dollar is paring some of its earlier gains against the euro as risk appetite improves. However, greenback still has the upper hand against European currencies right now as the data coming out of the United States seems to indicate that the economic recovery could speed up. Right now, the big excitement is the non-farm payrolls for January. Analysts had expected some gains for jobs, but the figures released beat … “US Dollar Pares Earlier Gains”
Euro Falls on Disappointing News
Euro is lower today, thanks to disappointing news coming out of the eurozone. The 17-nation currency is pulling back on falling retail sales and a disappointing bond auction in Portugal. Even the general enthusiasm experienced by financial markets at the latest US jobs data isn’t helping the euro right now. Euro is down on the Forex market with the news that eurozone retail sales were down 0.4% in December. The drop in sales was … “Euro Falls on Disappointing News”