US dollar is lower today, falling as warnings about the slow economic recovery in the United States remain intact. The US dollar doesn’t look as attractive as it did a couple of weeks ago, and disappointing economic data in the United States is only confirming that view. US economic data is showing that recovery continues at a rather slow pace. Last week, initial jobless claims rose to 380,000, once again … “US Dollar Remains Lower in Currency Trading”
Month: April 2012
Rand Gains on Fed & ECB Stimulus
The rand rose today, following two days of decline, on signs that the US Federal Reserve and the European Central Bank plan to stimulate their economies, supporting inflow of higher-yielding assets. Janet Yellen, a member of the Federal Open Market Committee, said that the US economy needs stimulus despite signs of recovery: I consider a highly accommodative policy stance to be appropriate in present circumstances. But considerable uncertainty surrounds the outlook, and I remain prepared … “Rand Gains on Fed & ECB Stimulus”
EUR/USD:Trading the University of Michigan Consumer Sentiment
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy, as consumer spending is critical for economic growth. Thus, a reading that is higher than predicted by the markets will be bullish for the … “EUR/USD:Trading the University of Michigan Consumer Sentiment”
NZD Climbs as Business Confidence Improves, Manufacturing Expands
The New Zealand dollar advanced today, rising for the second trading session, as macroeconomic reports showed that business confidence improved and manufacturing continued to expand, confirming positive developments in the New Zealand economy. New Zealand Institute of Economic Research reported that business confidence index rose from 0 to 13 in the first quarter of 2012. Business NZ manufacturing index was down from 57.7 in February to 54.5 in March, but is … “NZD Climbs as Business Confidence Improves, Manufacturing Expands”
Pound Advances with Retail Sales
The Great Britain pound climbed today after a report showed that UK retail sales grew last month, following a decline in the previous month. The report made Britain’s assets more attractive to investors, who were worried about the economic slowdown in the United Kingdom. British Retail Consortium reported that retail sales were up 1.3 percent on a like-for-like basis in March from a year ago. The increase followed the drop by 0.3 … “Pound Advances with Retail Sales”
Canadian Dollar Gets a Boost from Optimism
Canadian dollar is gaining against the US dollar right now, receiving a boost on general optimism today. Loonie is getting help as investors find optimism after Alcoa earnings, and on the fact that oil prices are heading higher. Yesterday, there was a lot of gloom on the market as concerns about the eurozone overshadowed just about everything. High beta currencies retreated; commodity currencies couldn’t find support. Today, though, … “Canadian Dollar Gets a Boost from Optimism”
Euro Heads Higher — For Now
Euro is higher today, gaining as stocks see some improvement, and as risk appetite overall improves. However, even with relief allowing the euro to push through resistance, the 17-nation currency still remains vulnerable, and there are still questions about how well the eurozone can weather more problems. Right now, the euro is getting a boost as the stock markets show some signs of relief. Alcoa earnings in the United States … “Euro Heads Higher — For Now”
Currensee Trade Leaders Now Available at Over 100 Institutional
Currensee, the first social network that offers a unique “follow thy trader” program, has reached a significant milestone with institutional partners: over 100 such partners already offer this program to their clients. The Boston based company also mentions that during the last year, the cumulative performance was better than the benchmark S&P and also gold. Looking … “Currensee Trade Leaders Now Available at Over 100 Institutional”
Forex Trading Reaches $5 Trillion Thanks to Greece
CLS has released transaction figures for March 2012, showing yet another record in trading: 5.07 trillion dollars exchanged hands during this busy month, up from $4.68 trillion in February and $4.24 in January. The peak of the recent round in the Greek crisis was the main reason for this surge. The drama around the grand … “Forex Trading Reaches $5 Trillion Thanks to Greece”
Yen Climbs Ahead of Italy’s Debt Auction
The Japanese yen climbed to the highest level in more than a month today before retreating a little as Forex market participants feel uncertain as borrowing costs in European nations rise. The yield for ten-year Italian notes climbed 23 basis points to 5.69 percent yesterday, the highest level since February 17. The yield of Spainâs securities maturing in 10 years reached 5.99 percent yesterday, the highest since December 12. It looks like … “Yen Climbs Ahead of Italy’s Debt Auction”