The US Pending Home Sales Report is an important leading economic indicator, considered by analysts as a excellent measure of consumer demand in the housing sector. A higher reading than forecast points to stronger activity in the housing industry and is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/CHF. Published on … “USD/CHF: Trading The US Pending Home Sales”
Month: March 2012
Canada’s Dollar Falls for Third Week
The Canadian dollar posted a weekly loss, falling for the third week against its US counterpart, as signs of economic slowdown across the world damped investors’ demand for riskier assets tied to economic growth. This week wasn’t pretty for the Canadian currency (often nicknamed “loonie”). It’s no surprise, really, considering almost total absence of good news from Canada. Wholesale sales unexpectedly dropped, retail sales came out worse … “Canada’s Dollar Falls for Third Week”
Australian Dollar Gains as Fed Considers Dropping of Monetary Easing
The Australian dollar rose, erasing its previous losses, as stocks gained and prices for raw materials increased as market sentiment gradually turns to risk appetite and on the speculation that the Federal Reserve may reduce stimulus for the US economy. James Bullard, President of the Federal Reserve Bank of St. Louis, thought that it may be time to drop the monetary easing: With numerous monetary policy actions still on the table, and others still affecting … “Australian Dollar Gains as Fed Considers Dropping of Monetary Easing”
Canadian Dollar Rises as Core Inflation Quickens
The Canadian dollar erased its losses against its US counterpart as core inflation data was better than predicted and after prices for crude oil jumped. The currency was flat against the Japanese yen and fell versus the euro. Annual consumer price inflation was 2.6 percent in February, while core inflation was 2.5 percent. Inflation was below forecast, while core inflation was above the predicted value. … “Canadian Dollar Rises as Core Inflation Quickens”
UK Pound Higher Against Greenback, Aussie
UK pound is finding some strength today against the US dollar and the Australian dollar. Sterling is rising against the greenback as risk appetite makes an appearance, and gaining against the Aussie as the news about China continues to weigh on the Down Under currency. UK pound has been struggling recently, thanks in large part to an unpopular budget announced by George Osborne. Concerns about the fact that the budget cuts spending, as well as taxes, … “UK Pound Higher Against Greenback, Aussie”
US Dollar Weakens as Risk Appetite Makes a Cautious Appearance
US dollar is weakening today as risk appetite makes a cautious appearance in the markets. Yesterday, greenback was higher, and gold prices reached a low not seen for 10 weeks. Today equities are still struggling, but higher gold is helping the euro against the US dollar, and some Forex traders are looking for risk. Some of the fears surrounding economic growth in the eurozone and in China have eased somewhat, and that has … “US Dollar Weakens as Risk Appetite Makes a Cautious Appearance”
Thai Baht Falls as Finance Minister Concerned About Strong Currency
Thai baht fell today as nation’s Finance Minister Kittiratt Na-Ranong expressed concerns that the strong currency hurts Thailand’s economy and voiced his opinion that the central bank should ease the monetary policy. The Finance Minister stated that “the range of 32 to 34” bahts per dollar “would be very good”. Kittiratt also said: Thailand is similar to other countries suffering from cost-push inflation because of higher … “Thai Baht Falls as Finance Minister Concerned About Strong Currency”
NZ Dollar Rises as US Economy Demonstrates Recovery
The New Zealand dollar advanced today on hopes that demand from the United States would support prices for raw materials as the US economy shows signs of robust recovery. Yesterday, reports showed that US leading indicators advanced 0.7 percent in February from a month ago and unemployment claims fell from 353,000 to 348,000 last week. Today, a report is expected to show that new home sales grew from … “NZ Dollar Rises as US Economy Demonstrates Recovery”
Yen Gains as Traders Require Safety
The Japanese yen surged today as Forex market participants preferred to avoid risk and stick to safer assets, allowing the currency to continue its rally that followed more than a week of losses. China’s manufacturing was contracting with faster than expected pace. Eurozone manufacturing and services, including manufacturing and service industries in Germany and France, weren’t particularly good either. The reports ignited fear on the Forex market, spurring traders to go for the safety … “Yen Gains as Traders Require Safety”
Canadian Dollar Sinks as Retail Sales Come Out Worse than Expected
The Canadian dollar slid today as news from China and Europe wasn’t particularly favorable, reinforcing investors’ willingness to stick to safer assets and avoid riskier ones. Fundamentals in Canada itself also weren’t very good. Signs of economic slowdown in China and the eurozone hurt all currencies tied to economic growth, including Canada’s dollar. Reports from the United States were quite good and it might have helped the loonie. Unfortunately for the currency, … “Canadian Dollar Sinks as Retail Sales Come Out Worse than Expected”