US Non-Farm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming sector. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 12:30 GMT. Indicator Background … “EUR/USD: Trading the US NFP Sep 2012”
Month: September 2012
Admiral Markets: Thousands of Traders in ForexBall Competition
In September, the Admiral Markets Group will host the third annual ForexBall Competition. With more than 30,000 participants and a total prize pool of $80,000 the ForexBall is one of the largest Forex competitions worldwide. The third round is about to start and again will see thousands of traders compete in a highly competitive environment, … “Admiral Markets: Thousands of Traders in ForexBall Competition”
ICM Capital UK Will Take Part in Arab FX Championship
ICM Capital UK, an FSA regulated company, will be participating in the 3rd Arab FX Championship and Expo that will take place in Dubai on September 11-12th. The championship will provide traders with a $5000 demo account and a leverage of 100:1. More details below: ICM Capital UK a leading provider of online foreign exchange … “ICM Capital UK Will Take Part in Arab FX Championship”
Aussie Climbs on Unexpected Drop of Unemployment Rate
The Australian dollar rose today as the unemployment rate unexpectedly fell last month. The currency went higher even as Australian employment shrank, surprising market participants negatively as they were expecting a moderate increase. The unemployment rate fell from 5.2 percent to 5.1 percent in August, while analysts thought it would rise to 5.3 percent. The employment change posted the drop by 8,800 jobs last month from the month before, while … “Aussie Climbs on Unexpected Drop of Unemployment Rate”
Euro Climbs Ahead of ECB Policy Meeting
The euro jumped yesterday and retained its gains today as hopes for asset purchase plan of the European Central Bank continued to support the shared 17-nation currency and made market participants more willing to invest in European assets. Two ECB officials described the bond buying plan yesterday. The plan will focus on government bonds instead of broader range of assets. German Chancellor Angela Merkel said she can accept the program if it … “Euro Climbs Ahead of ECB Policy Meeting”
Why Isn’t EUR/USD Much Higher?
I’m Troubled, but not dazed and confused. Deep down, I’m a foreign exchange trader. I’ve been doing it most of my adult life. And I’d like to think that I’ve been pretty successful by not only following my “gut”, but also by being disciplined in my convictions. And that’s what bothers me. The news that … “Why Isn’t EUR/USD Much Higher?”
Minister Says No Need for Additional Measures to Weaken Swiss Franc
The Swiss franc rose against the US dollar and dropped versus the euro today. Swiss Economy Minister Johann Schneider-Ammann said that there is less pressure for policy makers to introduce additional measures to weaken the Swiss currency. Previously, the Swiss government was considering rather drastic measures to keep the franc week, including capital controls. Now, it looks like there are fewer chances for such measures to be implemented. … “Minister Says No Need for Additional Measures to Weaken Swiss Franc”
Bank of Canada Holds Rates, Loonie Slumps
The Canadian dollar sank today after the Bank of Canada refrained from raising its interest rates. The currency was weaker even as the statement after the monetary decision was rather hawkish and reiterated that an interest rate hike is possible in the future. The Canadian central bank kept its main interest rate at 1 percent today. Analysts said that the decision was expected and borrowing costs are not likely to rise … “Bank of Canada Holds Rates, Loonie Slumps”
Japanese Turns Mostly Lower on Risk Appetite
Japanese yen is turning mostly lower today, slipping as risk appetite makes an appearance and favors high beta currencies. Earlier, the yen saw some gains on concerns about the global economy, as well as uncertainty about Europe. Now, though, a bit of optimism has returned to the markets, and the yen is heading lower as high beta currencies see some demand. Eurozone PMI data continues to show a slump, indicating recession. The worries … “Japanese Turns Mostly Lower on Risk Appetite”
US Dollar Index Slips as ECB Rumors Fly
US dollar index is slipping a bit as ECB rumors about how more liquidity will find be injected into the eurozone with out increasing the money supply. Greenback is also a bit lower as that position is contrasted with the possibility of QE3 for the US economy. A lot is expected to happen this coming month. Tomorrow the ECB and BOE make economic policy announcements as they announce interest rate … “US Dollar Index Slips as ECB Rumors Fly”