A degree of risk aversion is afflicting financial markets today, and that is resulting in a higher Japanese yen. Yen is gaining against its high beta counterparts the euro and the UK pound, while falling against the US dollar. Concerns about the eurozone are, once again, taking precedence in global financial markets. Japanese yen is heading higher today against the euro and the UK pound, thanks to the latest round of data. … “Japanese Yen Gains Ground on Risk Aversion”
Month: May 2012
5 Reasons Why Greek Tourism is Sinking
The “Arab Spring” helped divert some tourists to southern Europe instead of North Africa during 2011. But now, Greece is expected to see a downfall in tourism in addition to other economic troubles. There are various explanations for these depressing expectations in one of the countries flourishing industries: Violent scenes: The protests in Greece included … “5 Reasons Why Greek Tourism is Sinking”
Forex Crunch Key Metrics April 2012
The month of April was very similar to March: the changes in the metrics were quite minimal. In comparison to April 2011, there was a big rise in page views. After some slower traffic around Easter, it picked The Fed decision certainly drew attention. May promises to be an exciting month, at least in Europe, … “Forex Crunch Key Metrics April 2012”
Ringgit Gains on Manufacturing Growth in US & China
The Malaysian ringgit gained today as yesterday’s data that showed an expansion of manufacturing in the United States and China increased attractiveness of higher yielding Asian currencies. Yesterday’s gains of China’s & US PMI made sentiment of Forex traders more optimistic and the market retained that optimism today. The MSCI Asia-Pacific Index of shares advanced 0.5 percent. Europe still remains a negative factor for the currency markets, but for now investors prefer to pay … “Ringgit Gains on Manufacturing Growth in US & China”
May Monthly Outlook Released – Includes Relative Strength Index
The first monthly forex outlook from Forex Crunch has been released and is available for free download. It includes a relative strength index in addition to features previously seen in these reports. A dramatic month awaits Europe, which receives a lot of attention here. As always, the No. 1 economy of the world, the USA … “May Monthly Outlook Released – Includes Relative Strength Index”
Hollande Could Sink EUR/USD Below 1.20 in the Long Term
The elections in France could have a significant impact on the euro in the medium to long term, says Christopher Vecchio of DailyFX. A political struggle within the euro-zone’s strongest powers could significantly damage confidence. In the interview below, Vecchio discusses the upcoming elections, the impact of the Non-Farm Payrolls on the dollar, why the pound … “Hollande Could Sink EUR/USD Below 1.20 in the Long Term”
NZD/USD: Trading the New Zealand Employment Change
The New Zealand Employment Change is an important leading indicator which often has a significant impact on the markets. Traders and analysts carefully examine the indicator, looking for any trends which could affect NZD/USD. A reading which is better than the market forecast is bullish for the New Zealand dollar. Here are the details and 5 possible outcomes for NZD/USD. Published on Thursday … “NZD/USD: Trading the New Zealand Employment Change”
Canadian Dollar Goes Higher as US Manufacturing Expands
The Canadian dollar climbed today after a report showed that the US manufacturing sectors was expanding last month with faster pace than was anticipated by analysts, bolstering positive market sentiment. Institute for Supply Management reported that the US manufacturing Purchasing Managers’ Index was up from 53.4 in March to 54.8 in April. China’s PMI rose a little from 53.1 to 53.3. The positive news from China and the United … “Canadian Dollar Goes Higher as US Manufacturing Expands”
US Dollar Turns Higher
US dollar is moving higher today, gaining now, even as it lost some ground earlier. It’s true that US dollar has been somewhat flat today against other majors, but it was falling against the euro at one point. Now, though, the greenback has the upper hand again as uncertainty takes center stage and Forex traders begin looking for a little safety. US dollar index … “US Dollar Turns Higher”
Pound Drops on Manufacturing PMI, Rebounds
The Great Britain pound edged down today after a report showed that nation’s manufacturing almost stalled in April. The currency rebounded later and trades near its opening level now. The Markit/CIPS UK Manufacturing Purchasing Managersâ Index fell from 51.9 in March to 50.5 in April. The value is going dangerously close to the neutral 50.0 level. A drop below that level would indicate a decline. The pound recovered from losses … “Pound Drops on Manufacturing PMI, Rebounds”