Commodity currencies are on the retreat, which is usually the case when stocks and commodities are under pressure. RBA also left rates unchanged at 4.25%, which was reason for weak Aussie against the USD. We expect a stronger USD during this week, but not just yet, it look like we will see more consolidation and … “Video Technical Analysis: EUR/USD, USD Index, AUD/USD, Gold and”
Month: March 2012
USD/JPY: Trading the ADP Non-Farm Employment Change
The ADP Non-Farm Employment Change measures the change in the number of employed people, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for USD/JPY. Published on Wednesday at 1:15 GMT. Indicator Background Job creation is one of … “USD/JPY: Trading the ADP Non-Farm Employment Change”
5 Reasons Why Portugal Isn’t Getting Back to Markets
The IMF expects Portugal to return to bond markets in 2013. Sure, Portugal isn’t Greece and an outright default isn’t on the cards. Not yet. But there are enough reasons why Portugal will find it hard to return to the markets, and might need a second bailout. Austerity: The most obvious reason is lack of … “5 Reasons Why Portugal Isn’t Getting Back to Markets”
Euro Remains Weak Ahead of GDP Report
The euro remained weaker against the Japanese yen and the Swiss franc today, though retained its gains against the US dollar, as today’s report is expected to confirm that the eurozone economy shrank last quarter. The preliminary data showed that the eurozone gross domestic product contracted 0.3 percent in the fourth quarter of 2011. Analysts expect that the report today will confirm the preliminary figure. All in all, it looks like … “Euro Remains Weak Ahead of GDP Report”
Canada’s Dollar Falls as China Hurts Market Sentiment
The Canadian dollar retreated yesterday after the Forex market was shaken by the announcement that China’s economic growth may slow this year. The currency started today’s session with a little rally, but generally remained weak. China reduced its growth target to 7.5 percent from 8 percent, spurring risk aversion among FX market participants. Commodity currencies were among the biggest losers as the Asian country is … “Canada’s Dollar Falls as China Hurts Market Sentiment”
USD/CAD: Trading the Canadian Ivey PMI Index Mar 2012
The Canadian PMI (Purchasing Managers’ Index) is an important leading indicator which focuses on the services sector. 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 which is higher than the market forecast is bullish … “USD/CAD: Trading the Canadian Ivey PMI Index Mar 2012”
Super Tuesday – Win Win for the Dollar
10 US states will vote in the primaries in “Super Tuesday”. So far, it’s still unclear who will win the nomination of the Republican party. These contests can either pave the road for Romney’s nomination, or pave the road for Obama’s reelection. In both cases, it is likely to help the greenback. As discussed in the … “Super Tuesday – Win Win for the Dollar”
NZ Dollar Sinks as China’s Growth Slows & Stocks Drops
The New Zealand dollar slumped today as stocks retreated. The decline of global equities was caused by the announcement that China decreased its growth target for this year. China was viewed for some time as the main driver of the global economic recovery, therefore the signs of slowdown in the nation’s economy had a very negative impact on market sentiment. The MSCI Asia Pacific Index of stocks declined 0.8 percent, while the Standard & Poorâs 500 … “NZ Dollar Sinks as China’s Growth Slows & Stocks Drops”
Rand Goes Down as China Cut Growth Forecast
The South African rand slipped today after China cut its growth forecast, hurting currencies that are dependent on commodity prices, including South Africa’s one. Uncertainty about the future of Europe added to the negativity on the Forex market. China’s Premier Wen Jiabao decreased the target for the nation’s economic growth to 7.5 percent, while it has been 8 percent since 2005. This news had a knock out effect … “Rand Goes Down as China Cut Growth Forecast”
Japanese Yen Gains Against Majors
Japanese yen is gaining against its major counterparts today, rising as Forex traders seek some sort of safe haven and stability in the wake of the latest news out of China. Concerns about global growth are very real, and yen is also getting a boost as concerns about the economic growth in other regions are in doubt. The main driver behind a higher yen is the latest news out of China. Wen Jiabao, … “Japanese Yen Gains Against Majors”