Last week ended with a spectacular rally by risky assets. This week, though, appears to be reversing course, at lease a little bit. Risk assets are pulling back in light of some developments regarding the US economy. Manufacturing activity is weighing on risk currencies, and providing something of a boost for the US dollar. US dollar is heading higher today, gaining as concerns about the economy rise, and some forex traders engage … “US Dollar Rises as Uncertainty Shows Through”
Month: July 2012
Forex Crunch Key Metrics June 2012
After the big rise seen in May, June saw a correction: traffic was higher than the months before May, but lower than the month of May. The figures were also better than in June 2011. The Greek elections and the Spanish bailout certainly attracted attention during this month. So, here are the numbers: Page Views: … “Forex Crunch Key Metrics June 2012”
More USD Weakness In This Week? – Elliott Wave Analysis
We have seen a very strong risk-on reaction at the end of the past week, following the EU Summit, when the US dollar moved lower across the board as commodities and stocks found buyers. When analyzing the markets, it is important to respect this kind of a reaction which usually shows a clear direction for … “More USD Weakness In This Week? – Elliott Wave Analysis”
Yuan Gains on Better-Than-Expected Manufacturing PMI
The Chinese yuan advanced today after a report showed that China’s manufacturing sector slowed less than was predicted by analysts. Yet there was another, less optimistic, report. China Federation of Logistics and Purchasing reported that the Purchasing Managers’ Index decreased from 50.4 in May to 50.2 in June. The value was above analysts’ expectations and still indicated expansion, albeit with slower pace. The report from HSBC Holdings … “Yuan Gains on Better-Than-Expected Manufacturing PMI”
Mexican Peso Gains, Pulls Back
The Mexican peso gained today as Enrique Pena Nieto was leading in the presidential elections according to a poll. The peso pulled back, like many other currencies today, as Friday’s gains were to big too sustain. Pena Nieto was leading in the elections, according the survey of the Federal Electoral Institute. He promised to bolster economic growth and boost private sector, sparking hopes that reforms would improve the nation’s economy. The peso rallied … “Mexican Peso Gains, Pulls Back”
GBP/USD: Trading the British Construction PMI July 2012
The British Construction PMI Index is based on a survey of purchasing managers in the construction industry. Respondents are surveyed for their view on a wide range of business conditions, including employment, new orders, prices and inventories. A reading which is higher than the market forecast is bullish for the pound. Here are all the … “GBP/USD: Trading the British Construction PMI July 2012”
USD/JPY: Trading the US Manufacturing PMI
The US Manufacturing PMI is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economic and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for … “USD/JPY: Trading the US Manufacturing PMI”