The Australian dollar dipped today as negative report about Australian retails sales added to overall negative sentiment among Forex market participants. The data reinforced opinion that the nation’s central bank may continue interest rate cuts. Retail sales fell 0.2 percent in April from March on a seasonally adjusted basis, following the 1.1 percent increase in March. The median estimate was a 0.2 percent rise. Negative domestic fundamentals … “Aussie Slumps as Retail Sales Decline”
Month: May 2012
US Dollar Rallies as Risk Aversion Takes Hold of the Markets
US dollar is rallying as risk aversion takes hold of the markets. Financial markets are falling everywhere, from high beta currencies to stock markets. Concerns about the eurozone are mainly driving today’s risk averse atmosphere. With so many concerns, it’s little surprise that the US dollar is heading higher. One of the biggest concerns right now is the Spanish banking system. Spanish banks are … “US Dollar Rallies as Risk Aversion Takes Hold of the Markets”
Swedish Krona Advances vs. Euro on Rising GDP
The Swedish krona advanced versus the euro today as the nation’s economy expanded last quarter. The currency was down against the US dollar as overall market sentiment remained depressed. Statistics Sweden reported that Sweden’s gross domestic product expanded 0.8 percent in the first quarter of 2012, quarter-on-quarter, following the decline by 1 percent in the preceding quarter. Economists expected just 0.2 percent growth. The positive data improved prospects for krona and diminished … “Swedish Krona Advances vs. Euro on Rising GDP”
Spain’s Troubles Send Euro Lower
Today, Spain’s woes are in focus, and that is sending the euro lower. EUR/USD is below the 1.2500 mark, and possibly heading even lower, thanks to concerns about Spain, as well as uncertainty about Greece and uncertainty about how the Irish will vote tomorrow when it comes to the European Union’s fiscal treaty. With Spanish bond yields pushing higher, and concerns that Bankia won’t be the last of the Spanish banks … “Spain’s Troubles Send Euro Lower”
Tradeo Introduces Cloud Trader – Trade Following Social Platform
Trade following is gaining traction with yet another launch of a social initiative: Tradeo. The new Cloud Trader platform allows forex traders to automatically follow and execute trades of their fellows in the Tradeo community. Copying includes not only the positions but also the strategies of the followed traders. Tradeo promises low latency to avoid … “Tradeo Introduces Cloud Trader – Trade Following Social Platform”
AUD/USD Key Resistance, in Temporary Recovery (Elliott Wave)
The Aussie is trying to recover from the low of 0.968, but for now a substructure of that bounce looks corrective. The pair is also approaching a key resistance area around 0.9937-a former wave 4. Guest post by Gregor Horvat If the bearish trend will continue then this the current price is an ideal zone … “AUD/USD Key Resistance, in Temporary Recovery (Elliott Wave)”
Yen Gains on Woes of Europe, Flat vs. Dollar
The Japanese yen gained against most major currencies today as endless woes of European countries spurred demand for safer currencies. The yen was flat versus the US dollar, though, as the greenback is also considered to be a safe haven. Europe’s debt story has plagued markets for several years already and it has done a great damage to traders’ willingness to risk. Previously, gold was a favorable asset among investors, who … “Yen Gains on Woes of Europe, Flat vs. Dollar”
Europe Drives Loonie to Monthly Loss
The Canadian dollar fell today, heading to a monthly loss against the US dollar and a second straight monthly drop versus the Japanese yen, as the crisis in Europe eroded demand for currencies related to growth. Unsurprisingly, Canada’s currency managed to outperform the euro. The European sovereign-debt problems is spreading and it does not look like European leaders have a solid plan to contain the crisis. Signs that the fast-growing Chinese economy is slowing also … “Europe Drives Loonie to Monthly Loss”
Australian Dollar a Little Higher Today
Australian dollar is maintaining gains today, heading a little bit higher as some risk appetite returns to the markets. Also helping the Aussie is the fact that gold prices are gaining again. With a little optimism, and help from commodities, Aussie is gaining ground against the major currencies. Risk appetite has been improved by hopes that Greece will put in a pro-bailout government next month. Even though … “Australian Dollar a Little Higher Today”
US Dollar Looks to End May on a Strong Note
US dollar looks to end May with relative strength, thanks in large part to safe haven demand. Even though the euro is inching higher right now, on the month the US dollar is likely to log gains. Greenback is still higher against the yen and the pound, and the euro’s gains are by no means certain today. Euro is managing to eke out small gains right now, overcoming earlier losses. … “US Dollar Looks to End May on a Strong Note”