The Chinese yuan fell today, snapping its two-day rally, on the speculation that the slowdown of China’s economy may cause the nation’s policy makers to slow appreciation of the currency. The average earnings of 505 companies tracked by the Shanghai Composite Index were 3.6 percent below the analystsâ forecast. The data followed the earlier speculation that China’s manufacturing is slowing, adding to evidences of economic slowdown in China. The signs of slowing economy cause market participants … “Yuan Falls, Ending Two-Day Rally, on Concerns About China’s Slowdown”
Month: March 2012
USD/CAD: Trading the Canadian GDP Mar 2012
The Gross Domestic Product (GDP) is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on … “USD/CAD: Trading the Canadian GDP Mar 2012”
Gold Now Back To Bullish Mode
We see a very clean bullish pattern on gold. Notice that from 2011 highs decline has unfolded in three waves, followed by bullish impulsive reversal through falling trend line. Well, once wave (1) found the peak, the price reversed lower as expected, into a corrective wave (2), which is now looking for a bottom around … “Gold Now Back To Bullish Mode”
Euro Struggles, Even on Possibility of Firewall Boost
Euro is struggling today after seeing some earlier gains. Some of the risk appetite from earlier has been erased, replaced by continued concerns about the eurozone. Even an Italian bond sale and a budget in Spain can’t completely stave off the worries about what’s next. Also unable to completely do away with Forex trader concerns about the eurozone is the discussion over how to boost the firewall. The emergency bailout … “Euro Struggles, Even on Possibility of Firewall Boost”
Japanese Yen Gains as Fiscal Year Comes to a Close
It’s the end of the fiscal year for Japanese companies, and exporters are buying more to close things out. The result is that the Japanese yen is gaining against its major counterparts, helped along by the introduction of a certain amount of risk aversion on lackluster economic data from the United States and continued concerns about the eurozone. Right now, as the fiscal year draws to a close, exporters are buying quite a bit. This means that … “Japanese Yen Gains as Fiscal Year Comes to a Close”
NZ Dollar Declines on Worries About China’s Slowdown
The New Zealand dollar declined today on the speculation that the Chinese economy is slowing, reducing attractiveness of riskier assets of emerging markets, and as Asian stocks fell. The report on March 22 showed that China’s manufacturing may has slowed this month, though forecasters say that the government report on April 1 may show an expansion, albeit a minor one. The New Zealand currency depends on the China’s economy as the Asian country is … “NZ Dollar Declines on Worries About China’s Slowdown”
Swedish Krona Advances with Consumer Sentiment
The Swedish krone advanced today as confidence of Swedish consumers improved more than were expected by market analysts and as fears of the economic crisis were almost gone. The National Institute of Economic Research reported today that consumer confidence rose from -3.2 in February to zero in March. The actual reading was better than the forecast figure of -2. Italian Prime Minister Mario Monti, who previously was warning about the threat of credit … “Swedish Krona Advances with Consumer Sentiment”
NZD/USD: Trading the NBNZ Business Confidence Index
The NBNZ Business Confidence Index is a diffusion index based on a broad survey of business sectors in the New Zealand economy. A reading which is higher than the market forecast is bullish for the New Zealand dollar. Here are all the details, and 5 possible outcomes for NZD/USD. Published on Thursday at 00:00 GMT. Indicator Background The NBNZ Business Confidence Index is based … “NZD/USD: Trading the NBNZ Business Confidence Index”
US Dollar Mixed as Forex Traders Consider Latest News
US dollar is mixed today, due in large part to the latest uncertainty coming from the eurozone. Earlier, risk appetite was all the rage, with the euro reaching new highs for the month of March, and a number of currencies gaining against the greenback. Now, though, the dollar index is higher, and the euro has faded against the greenback. In large part, this is due to the suggestion from the OECD that the eurozone’s firewall is insufficient … “US Dollar Mixed as Forex Traders Consider Latest News”
Euro Pulls Back as OECD Talks about Firewall Needs
Earlier today, euro got a boost from what many saw as a successful Italian bond sale, as well as yesterday’s speech from Ben Bernanke opening the door for QE3 in the United States. However, the euro is pulling back right now as the situation changes a little bit. The OECD said that the eurozone needed a much larger firewall in order to contain the debt crisis. The result of this latest piece of news is that the euro … “Euro Pulls Back as OECD Talks about Firewall Needs”