US Pending Home Sales is an important leading economic indicator, considered by analysts as a good measure of the health and direction of the housing sector. As a key indicator, this release can affect the movement of GBP/USD. A higher reading than forecast is bullish for the dollar. Here are all the details, and 5 … “GBP/USD: Trading the US Pending Home Sales”
Month: May 2012
Euro Declines as Fears Grow
The euro extended its decline today amid mounting concerns about the sovereign-debt crisis in Europe and the ability of the eurozone to keep its integrity, caused by uncertainty about the June elections in Greece and signs that the crisis is spreading. Spain is the second major worry, following Greece, for European investors, especially after its banks and regions lost access to capital markets. The government is continuously reassure that the country does not need … “Euro Declines as Fears Grow”
Franc Rebounds After Weber’s Comments
The Swiss franc advanced today, paring yesterday’s losses against the US dollar, as former Bundesbank President Axel Weber hinted that the currency may be appreciating amid the escalating crisis in Europe. Weber said about Thomas Jordan’s ability to maintain the cap of the franc against the euro: As solid and steady as he is as a central banker, so is the Swiss franc. I wake up in the morning and if somebody asks me where the Swiss … “Franc Rebounds After Weber’s Comments”
AUD/USD: Trading the Australian Retail Sales
Retail Sales is considered one of the most important indicators of consumer spending. In turn, consumer spending and confidence are critical components for economic growth. 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 AUD/USD. Published on Wednesday at … “AUD/USD: Trading the Australian Retail Sales”
Rupee Drops, Can Hurt India’s Economic Recovery
The Indian rupee dropped today, leading to concerns that the weak currency, which was the worst-performing Asian monetary unit last year, would spur inflation and hurt the economic recovery of India. The Reserve Bank of India cut its key repurchase rate by 50 basis points to 8 percent in April and that move was followed by unexpected increase of inflation to 7.23 percent. Now the central bank is in a difficult position as without rate … “Rupee Drops, Can Hurt India’s Economic Recovery”
Brazilian Real Climbs as Central Bank Sells Swaps
The Brazilian real advanced today as the central bank auctioned currency swaps in a attempt to keep the real, which was the worst performer among 16 most-traded currencies, from sliding down and hurting consumers. The Central Bank of Brazil sold 14,000 out of the 40,000 currency swap contracts on May 25. That was the fourth day of swap auction. Speculations that the central bank will slow the pace of borrowing cost cuts boosted yields … “Brazilian Real Climbs as Central Bank Sells Swaps”
Canadian Dollar Sees Small Gains
Canadian dollar is seeing small gains today as oil prices rise a little, and as a bit of optimism returns to the markets. There are hopes that Greece will remain in the eurozone, as well as some expectation of a eurozone solution to the sovereign debt problem. All of this is providing a boost for the loonie. Canadian dollar is seeing small gains today, improving as oil prices get a bit of a boost today. Oil prices are slightly … “Canadian Dollar Sees Small Gains”
US Dollar Mixed in Forex Trading
US dollar is mixed in Forex trading, with markets somewhat choppy today. Greenback is once again higher than an embattled euro, but the US dollar is lower against commodity currencies. It looks to be an interesting day on the Forex market, even though US markets are closed for the Memorial Day holiday. US dollar is turning in a mixed performance today, thanks to some of the unique situations at play … “US Dollar Mixed in Forex Trading”
USD/JPY: Trading the US CB Consumer Confidence Index
The Conference Board Consumer Confidence Index is based on a monthly survey of about 5,000 households regarding their opinion of the economy. An unexpected reading can affect the direction of JPY/USD, and a higher reading than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published … “USD/JPY: Trading the US CB Consumer Confidence Index”
Record Weekly Loss of Euro in 2012
This week, the euro had its biggest weekly loss against the dollar this year as the currency was rapidly losing attractiveness amid the escalating sovereign-debt crisis. Forex market participants were running away from the currency, making it touch the lowest level since 2010 versus the greenback. Greece remains on the forefront of talks among investors as the elections in June may determine whether the country remain in the eurozone. The chance of the Hellenic Republic leaving … “Record Weekly Loss of Euro in 2012”