There is a lot for Forex traders to consider today, and the result is a so-far mixed performance fort he US dollar. Greenback is down against the euro and the Canadian dollar right now, but higher against the UK pound and the Japanese yen. Economic data in the United States is taking a slightly positive turn, but there are still worries about the eurozone. US jobless claims dropped fort he first … “US Dollar Mixed as Traders Consider Information”
Month: May 2012
International Traders Conference – Special Offer for Forex Crunch
Ed Ponsi, Richard Olsen, Ron William, Dr. Walter Peters, Steve Ward and David Pegler are the key speakers in the 5th Edition of the International Traders Conference, held in June 2012. The event consists of live trading sessions with the experts, in small groups, providing a personal touch. FXStreet, which organizes the 3 day event, … “International Traders Conference – Special Offer for Forex Crunch”
Unexpected Growth of Unemployment Drives Kiwi Down
The New Zealand dollar slid today to the lowest level in more than two months as the nation’s unemployment rate rose, even though analysts said that it would decline, and employment growth was below expectations. The New Zealand unemployment rate climbed from 6.4 percent in the fourth quarter of 2011 to 6.7 percent in the first quarter of 2012. The reading was worse than even pessimists expected, while most specialists anticipated … “Unexpected Growth of Unemployment Drives Kiwi Down”
EUR/USD: Trading the Non-Farm Employment Change
The Non-Farm Employment Change indicator, released by the US Government, measures the change in the number of employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday … “EUR/USD: Trading the Non-Farm Employment Change”
European Spring – Tables are Turning in the Old
Finally, the tables are beginning to turn in Europe. The paradigm so far was that in order to fight the debt crisis and to lower the debt-to-GDP ratio, governments must make an effort to balance their budgets by cutting their spending. This in turn led to a deterioration in the economic situation, meaning lower GDP. … “European Spring – Tables are Turning in the Old”
Loonie Gains vs. Euro, Holds Ground vs. Greenback & Yen
The Canadian dollar climbed against the euro today as declining manufacturing of the eurozone weakened the shared 17-nation currency. Canada’s currency erased losses versus the US dollar and was flat against the Japanese yen. It is not surprising that the Canadian currency gained against the euro, considering the shrinking eurozone manufacturing and the unexpected growth of German unemployment. Yet it is surprising to see the growth-related loonie to hold ground versus the safe currencies … “Loonie Gains vs. Euro, Holds Ground vs. Greenback & Yen”
EUR/GBP Goes Lower as UK Construction PMI Beats Estimates
The Great Britain pound climbed to the highest level in almost two years against the euro today as better-than-expected macroeconomic data from the United Kingdom was a stark contrast to negative fundamentals in Europe. The currency was flat against the Japanese yen and fell against the US dollar. The UK construction Purchasing Managers’ Index slipped from 56.7 in March to 55.8 in April. Analysts predicted a drop to 54.1. The index is still close to the March 21-month … “EUR/GBP Goes Lower as UK Construction PMI Beats Estimates”
Shift in Safe Havens
Since the financial crisis erupted in 2008, the trading themes of “risk aversion” versus “risk appetite” have been dominant for quite some time. Things are slowly starting to get back to normal, yet the flows towards safe havens still happens, and sometimes violently. The safe haven currencies are also undergoing a shift. Here’s an overview … “Shift in Safe Havens”
Euro Loses Ground on Recession Fears
Euro is losing ground today as recession fears once again come into focus. Disappointing economic data in the eurozone, as well as a growing gap between Germany and the peripherals, are weighing on the euro. Additionally, it’s not helping risk appetite that the data coming out of the United States has turned out to be disappointing as well. In the eurozone, the news continues to worsen. The unemployment rate in the 17-nation currency region is up to 10.9%. … “Euro Loses Ground on Recession Fears”
Won Climbs on Improving Outlook for South Korean Exports
South Korean won climbed today, along with other Asian currencies, as signs of the economic growth in China and the United States improved outlook for exports of the Asian nation. The signs of economic growth caused speculation that demand for exports from South Korea would grow. The nation’s economy definitely needs help as inflation slowed below the median forecast of 2.8 percent to 2.1 percent in April. That was the lowest level in 21 months. … “Won Climbs on Improving Outlook for South Korean Exports”