The US housing sector may have bottomed out, but the big question is: will it rise? Support for the US dollar from this sector will take time, say John Kicklighter of DailyFX. In the interview below, Kicklighter also discusses the achievements and hurdles of the EU Summit, the impact of the London Olympics and more. … “Housing Sector Recovery Critical for US Growth”
Month: July 2012
US Dollar Softens as Factory Orders Rise
US dollar is softening today, thanks to better than expected economic news. Factory orders rose more than expected, and that is providing a bit of a boost for markets after yesterday’s disappointing manufacturing index data. Greenback has turned lower, thanks to the better news, and to a bit of risk appetite, as shown by modestly higher equity markets. The factory orders report for may has a lot to do with it. New orders … “US Dollar Softens as Factory Orders Rise”
Canadian Dollar Gets Boost in Forex Trading
Canadian dollar is getting a boost in Forex trading today, heading higher as oil prices rise, and at the prospect of more quantitative easing in Europe, as well as stimulus in China. With other currencies on the verge of weakening in the name of economic stimulus, the loonie is well placed to make some gains. Higher oil prices are one of the biggest helps to the Canadian dollar today. Loonie is a commodity currency tied to oil prices. Oil is … “Canadian Dollar Gets Boost in Forex Trading”
Yen Drops as Stocks Rallies on Hopes for Interest Rate Cuts
The Japanese yen weakened today as global stocks rallied on speculations that central banks of developed nations would cut interest rates to bolster slowing growth of their economies. Most analysts agree that the European Central Bank would decrease its borrowing costs. The US Federal Reserve disappointed traders on its last policy meeting, refraining from a third round of quantitative easing, but the US economy continues to show signs … “Yen Drops as Stocks Rallies on Hopes for Interest Rate Cuts”
Won Gains as ECB Expected to Cut Interest Rates
The South Korean won advanced today on speculations that the European Central Bank would decrease its main interest rate, bolstering the eurozone economy and improving prospects for exports of emerging economies. Optimism, caused by the European summit last week, faded and higher-yielding currencies need a news bullish story to keep their gains. The won has found such support in the form of the ECB monetary policy meeting later this week. The central bank … “Won Gains as ECB Expected to Cut Interest Rates”
Dow Jones News Integrated on FX Solutions’ GTS Platform
US based Forex Broker FX Solutions adds a significant addition to its proprietary GTS trading platform: Dow Jones market news. The rapid response of DJ journalists to events will help traders be on top of the news. Dow Jones and its sister publication The Wall Street Journal are definitely in the top tier of financial news … “Dow Jones News Integrated on FX Solutions’ GTS Platform”
Aussie Retreats as Market Mood Worsens
Friday’s euphoria has gone from the Forex market and riskier commodity currencies retreated, following the sharp rally in the last trading day of the previous week. The Australian dollar was among losers. Not surprisingly, the Aussie managed to outperform the euro. Good mood, caused by the last week’s European summit, was gone from the FX market and traders looked at the eurozone in less positive light. Finland’s government stated that it considers bond … “Aussie Retreats as Market Mood Worsens”
Euro Retreats on ECB Rates Speculations & Rising Unemployment
The euro retreated today, following the huge gains on Friday, as the eurozone unemployment rate rose and investors speculated that the central bank may decrease its interest rates. Eurostat reported that the eurozone unemployment rate rose to 11.1 percent in May from 11.0 in April. The increase was small and expected by market participants. Still, it reminded traders that problems of the region are not solved and it is too early too … “Euro Retreats on ECB Rates Speculations & Rising Unemployment”
AUD/USD: Trading the Australian Retail Sales July 2012
Australian Retail Sales is considered one of the most important consumer indicators. The indicator’s release in the first week of each month provides analysts and traders with an early look at consumer spending. 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: Trading the Australian Retail Sales July 2012”
UK Pound Down Against Dollar, But Higher Against Euro
UK pound is mixed today, due to the situation in the markets. Pound is down against the US dollar as the risk rally from last week loses steam, but higher against the euro as traders wonder if the deals made at the European Union summit last week will actually last. Risk appetite has been fading as concerns about the US economy and the global economy rise. Additionally, there is some profit … “UK Pound Down Against Dollar, But Higher Against Euro”