The New Zealand dollar climbed today after positive market sentiment, caused by hopes for the eurozone and anticipation of positive macroeconomic data from the United States, boosted global stocks. Traders were optimistic about the eurozone and the United States. The optimism about the US economy was well founded as US retail sales rose 1.1 percent in February, exactly as analysts predicted, while the January increase was revised from 0.4 percent to 0.6 … “NZ Dollar Gains with Stocks on Positive Market Sentiment”
Month: March 2012
UK Pound Gains on Economic Data
UK pound is gaining today, thanks in part to better than expected economic data out of Great Britain. Good news is helping the pound against the US dollar and against the euro. While there are still some hurdles for sterling, right now the outlook is pretty good. UK trade deficit data came in under the estimate, showing a narrower than expected gap. Instead of 1.9 billion pounds of deficit, … “UK Pound Gains on Economic Data”
Will Oil Prices Go Down an Elevator?
Oil prices are steadily climbing “up the stairs”. One of the drivers of this ascent is the tension around Iran. If a full scale conflict really breaks out, there certainly is room for rises. Nevertheless, history suggests that they will fall down “an elevator” afterwards and will dig deeper into the basement for a long … “Will Oil Prices Go Down an Elevator?”
Japan’s Yen Goes Down as Market Sentiment Improves
The Japanese yen fell today versus the US dollar and the euro after European finance ministers agreed to provide a bailout for Greece and on speculations that US retail sales grew with faster pace last month. Greece will receive as much as ⬠130 billion from the European Financial Stability Facility during the next three years and the first portion of the rescue will be provided this month. Analysts predict that today’s … “Japan’s Yen Goes Down as Market Sentiment Improves”
GDP/USD: Trading the British Claimant Count Change
The British Claimant Count Change measures the change in the number of people claiming unemployment benefits. Along with the Unemployment Rate indicator, which is released at the same time, it provides a snapshot of the employment situation and can be a market-mover for GDP/USD. Here are the details and 5 possible outcomes for GBP/USD. Published on … “GDP/USD: Trading the British Claimant Count Change”
CAD Drops vs. Safe Currencies as Traders Shun Risk
The Canadian dollar fell against safer currencies today, but advanced against riskier ones, after negative news from China and uncertainty of the eurozone’s future made Forex speculators to shun risk. China reported that its trade deficit widened more than expected, reaching the highest level in two decades. As can be expected, markets didn’t like the news. Commodities slid, dragging down commodity currencies. Crude oil … “CAD Drops vs. Safe Currencies as Traders Shun Risk”
4 Scenarios for the Fed Decision
The FOMC is not expected to make any significant policy changes. While Bernanke is certainly unimpressed from the situation of the economy, he did acknowledge that employment is improving, and the scenario of QE3 has little chances. What can the Fed do? Here are 4 scenarios and the potential reaction for the US dollar. First, … “4 Scenarios for the Fed Decision”
US Dollar Mixed, But Mostly Higher
US dollar is mostly higher today, gaining on mixed news from around the world. While greenback is higher against the UK pound and the Australian dollar today, though, it is down against the euro and the Japanese yen. However, the dollar index remains higher, and is above 80, so there is some relative strength to be seen by the US dollar. Mixed data from around the world is creating … “US Dollar Mixed, But Mostly Higher”
Euro Higher on Greece, But Could Sink on Spain
Euro is higher today, gaining as questions about Greece are resolved. Eurozone finance ministers are expected to approve a bailout package for Greece, and that is helpin the 17-nation currency. However, euro could be headed for more trouble in the future, since Spain is the next point of focus for eurozone leaders. Spain has been showing signs of trouble for almost as long as Greece, but the trouble has been less severe. … “Euro Higher on Greece, But Could Sink on Spain”
EUR/USD: Trading the German ZEW Mar 2012
The German ZEW Economic Sentiment Index is based on a monthly survey of institutional investors and analysts and their views of the German economy. A reading that 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 10:00 GMT. … “EUR/USD: Trading the German ZEW Mar 2012”