The Australian Employment Change is an important leading indicator which may have a significant impact on the direction of AUD/USD. Traders and analysts carefully examine employment figures, since strong employment numbers are critical for the growth of the economy. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:00 GMT. Indicator Background … “AUD/USD: Trading the Australian jobs Apr 2012”
Month: April 2012
US Dollar Heads Higher on Safe Haven Demand
US dollar is heading higher as uncertainty in the financial markets creates a demand for safe haven currencies. Greenback is heading higher against the euro and the UK pound. While the pound has been struggling most of today anyway, this development is new to the euro, a currency that had been seeing some strength earlier. Right now, the US dollar is gaining favor as stocks retreat and uncertainty rises. Concerns about … “US Dollar Heads Higher on Safe Haven Demand”
Crude Oil Prices Drag Ruble Down
The Russian ruble was down today, falling for the third day, as prices for crude oil, the main nation’s export, declined amid concerns about the global economic recovery. Futures on crude oil fell $0.16 to $102.30 per barrel in New York, following yesterdayâs decline by 0.8 percent. The ruble depends on the performance of crude as the commodity is the main export good of Russia. Oil was falling on concerns that the global economic slowdown will … “Crude Oil Prices Drag Ruble Down”
Swedish Krona Declines with Industrial Production
The Swedish krona fell today after a report showed that nation’s industrial production declined significantly more than expected and as risk aversion damped demand for European currencies. Industrial production fell 5.2 percent in February from January, compared to the median forecast of 0.3 percent. Annual decline was 7.1 percent, while an advance by 0.5 percent was predicted by analysts. The krona is also hurt by concerns about the crisis in Europe. … “Swedish Krona Declines with Industrial Production”
Risk Aversion Weighs on the UK Pound
Risk aversion remains intact today, and that is weighing on the UK pound. Concerns about global economic growth are still plaguing the markets, and that means that the UK pound is struggling. Right now, the pound is down against the US dollar and the euro. Since British and European markets were closed yesterday for Easter Monday, investors are just catching up with the sentiment that brought Asian and European … “Risk Aversion Weighs on the UK Pound”
AUD Rises as China’s CPI Grows, Can It Sustain Rally?
The Australian dollar gained today after China’s consumer price inflation accelerated last month more than was predicted by analysts. Experts remain skeptical about the ability of the Aussie to rise in the near term. China’s Consumer Price Index rose 3.6 percent in March from a year ago. That’s compared to the median forecast of 3.3 percent and the previous reading of 3.2 percent. The increase of consumer prices isn’t entirely good for the Australian currency, … “AUD Rises as China’s CPI Grows, Can It Sustain Rally?”
US Dollar Falls as Traders Still Expect QE
The US dollar fell today against most major currencies as the worse-than-expected payrolls fueled the speculation that the Federal Reserve will stimulate the US economy, weakening the currency at the same time. US non-farm payrolls showed an increase by 120,000 jobs, compared to the median estimate of 207,000. The data hurt outlook for the US economy and supported the opinion of those people (Fed Chairman Ben Bernanke among them) who believe that the economy is still … “US Dollar Falls as Traders Still Expect QE”
Canadian Dollar Heads Lower as Commodities Struggle
Canadian dollar is heading lower as commodities struggle today. Oil prices are having an especial effect on the loonie today, as they are very connected to the performance of the Canadian currency. Also weighing on the Canadian dollar is the disappointing employment news reported by the government. Canadian dollar is struggling against the US dollar as worries about the global economy, as well as specific concerns in Canada, weigh on the loonie. The loonie is sensitive to commodity prices, … “Canadian Dollar Heads Lower as Commodities Struggle”
US Non-Farm Payrolls Sap Demand for Risk, Rupee Suffers
The Indian rupee declined today as last week’s US non-farm payrolls disappointed Forex market participants, sapping demand for riskier currencies of emerging markets. US employers added 120,000 jobs last month, compared to market expectations of 207,000. The disappointing data reduced risk appetite of investors. The rumors about North Korean rocket launch weren’t helping Asian currencies either. The Bloomberg-JPMorgan Asia Dollar Index, tracking Asia’s 10 most-traded … “US Non-Farm Payrolls Sap Demand for Risk, Rupee Suffers”
Euro Pulls Back on Sovereign Debt and Risk Aversion
Euro is pulling back today as concerns about sovereign debt continue to dominate the conversation about the eurozone. Additionally, general risk aversion concerning the state of the global economy is weighing on the euro. One of the biggest factors affecting euro performance is still sovereign debt. Now, though, the concern is taking a new form. With special financing from the ECB, many banks in embattled countries have bought sovereign debt. … “Euro Pulls Back on Sovereign Debt and Risk Aversion”