Euro is weakening today against the US dollar and the UK pound as questions about the economic viability of the eurozone persist. Even though it’s clear that eurozone countries can still sell bonds, investors are asking for higher yields. The continued economic struggle in the eurozone is weighing on the euro. Economic forecasts for the eurozone have the region slowing this year, and some think that a recession could already be underway. With … “Euro Weakens as Questions Persist”
Month: April 2012
GBP/USD: Trading the British Retail Sales Apr 2012
British Retail Sales is considered one of the most important indicator of consumer spending. A reading that is higher than the market forecast is bearish for the US dollar. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Friday at 8:30 GMT. Indicator Background Consumer spending is one of the most important … “GBP/USD: Trading the British Retail Sales Apr 2012”
Without a Higher Participation Rate, US Job Growth Will
US jobs growth is mediocre at best, and the current job growth trend cannot last for too long, says Christopher Vecchio of DailyFX. The US economy may be on a better footing than in previous years, but it’s hard to be optimistic. In the interview below, Vecchio discusses the situation in the US, the impact … “Without a Higher Participation Rate, US Job Growth Will”
Japanese Yen Falls on Rumors of Further Economic Stimulus
Japanese yen is heading lower today, dropping against other majors as rumors swirl regarding the possibility of further economic stimulus. The idea that more easing for the yen could be coming is weakening the currency against the dollar and the euro. Kiyohiko Nishimura, a deputy governor at the Bank of Japan, spoke recently, insisting that the Japanese economy needs more help to recover. He also cited global economic uncertainties that should … “Japanese Yen Falls on Rumors of Further Economic Stimulus”
US Dollar Index Gains as Traders Consider Consolidation
Yesterday’s buoyant tone and risk appetite have receded, leaving the US dollar to log gains against some currencies right now. The dollar index is heading higher, as the greenback gains against some of its major counterparts, especially the euro and the yen. Yesterday, better news out of Europe, combined with an enthusiasm for stocks, led to a lower US dollar. The dollar index dropped below 80 as many traders looked for better yields. … “US Dollar Index Gains as Traders Consider Consolidation”
GFT Has Highest US Client Profitability in Q1 2012,
40.6% of the clients trading with US Forex broker GFT were profitable during Q1 2012, giving it the first place. Oanda’s figures were very close, 39.8%. Other brokers are a bit behind. The number of US forex traders hasn’t really changed during the quarter, but there have been some changes. Oanda remains the largest broker … “GFT Has Highest US Client Profitability in Q1 2012,”
USD/CAD Can Reach 7-Month Low (0.9800) Elliott Wave Analysis
The Canadian dollar was one of the strongest currencies yesterday, with USD/CAD falling sharply lower after a swing reversal from 1.0032 where we believe that wave (ii) reached a peak. Notice that decline is very sharp, which also broke and closed below corrective channel and base channel support as well. This is indication for a … “USD/CAD Can Reach 7-Month Low (0.9800) Elliott Wave Analysis”
EUR/USD: Trading the US Unemployment Claims Apr 2012
The US Unemployment Claims indicator is released weekly, and measures the number of people filing for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Thursday at 12:30 … “EUR/USD: Trading the US Unemployment Claims Apr 2012”
NZD/USD: Trading the New Zealand CPI
The New Zealand CPI (Consumer Price Index), which is released every quarter, is an inflation index which measures the change in the price of goods and services charged to consumers. 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: Trading the New Zealand CPI”
FXCM Sees Rise in Institutional Volume and Dip in Retail
US Forex Broker FXCM reported its key metrics for the month of March. A rise of 27% was seen in institutional volume from February, while a dip of 2% in retail trading volume was reported. The number of tradeable retail accounts rose quite marginally and fell by 12% in the institutional sector. The year over … “FXCM Sees Rise in Institutional Volume and Dip in Retail”