The New Zealand dollar remained relatively strong during September. It enjoyed various factors and became very interesting for technical traders. Will this strength continue? It could remain stronger than the Aussie, but isn’t likely to print outstanding performance. What pushes the kiwi? QE3: The move by Big Ben hurt the dollar at first, but then … “New Zealand Dollar – Becomes Very Technical Friendly”
Month: October 2012
Mixed Week for Dollar Starts with Fear, Ends with Hope
The US dollar had a mixed week as initial risk aversion was weakened by the weekend. The first half of this week was good for the currency, but the market mood changed in the second half, reducing both gains and losses of the greenback. The major cause for worries this week was Spain as the country did not request a bailout still. The nation’s credit rating was downgraded by Standard & Poor’s. At first, that event caused risk … “Mixed Week for Dollar Starts with Fear, Ends with Hope”
Euro Gets Boost from Peace Prize, IMF Comments
Euro is getting a boost today, thanks to the return of risk appetite, as well as news regarding interesting developments in the eurozone. The 17-nation currency is up pretty much across the board against its major counterparts today. Risk appetite has put in an appearance today, and that is helping high beta currencies like the euro. Even though gold prices are lower, euro is still finding some support on the currency … “Euro Gets Boost from Peace Prize, IMF Comments”
Singapore Says It Will Allow Appreciation of Currency
The Singapore dollar advanced today as the government surprised traders, saying that it will allow the currency to gain. The currency also gained on the general risk-positive sentiment of Forex traders. The Monetary Authority of Singapore stated that it will allow a modest and gradual appreciation of its currency to rein inflation. Previously, traders were worried that policy makers will attempt to curb gains of the SGD. Additionally, Asian currencies were stronger today … “Singapore Says It Will Allow Appreciation of Currency”
UK Pound Attempts Recovery Against US Dollar
UK pound is attempting a recovery against the US dollar, heading higher as risk appetite makes an appearance today. There are no major economic announcements due for the United Kingdom today, but the news of inflation the in United States, plus corporate earnings, are helping risk appetite. UK pound is improving its recovery attempts against the US dollar today. With producer prices rising 1.1 per cent … “UK Pound Attempts Recovery Against US Dollar”
Ruble Follows Gains of Crude Oil
The Russian ruble gained today as crude oil, the major Russia’s export, headed to a weekly gain amid increasing willingness of traders to buy riskier assets. Crude advanced 0.6 percent to $92.60 per barrel in New York today. The gains of oil followed yesterday’s positive macroeconomic data from the United States, including falling unemployment claims. Crude oil and gas makes up about 50 percent of Russia’s export revenue. USD/RUB … “Ruble Follows Gains of Crude Oil”
USD/JPY: Trading the Consumer Sentiment October 2012
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and can help strengthen the US dollar. Thus, a reading that is higher than predicted by the markets will be bullish for the dollar. … “USD/JPY: Trading the Consumer Sentiment October 2012”
The dollar in the QE-Infinity Era
Ben Bernanke finally announced QE3. Given the new style of the program, an open ended one, some call it QE-infinity. The Fed will create money to buy Mortgage Based Securities for as long as needed. While it is hard to make the connection between unemployment and dollar printing, the markets expected this move. The result … “The dollar in the QE-Infinity Era”
Yen Depressed as FX Market Casts Off Negative Sentiment
The Japanese yen weakened today as the positive mood of Forex traders damped demand for safety provided by the currency. Even the downgrade of Spain’s credit rating was not able to bolster the yen. The FX market was in risk-on mode by the end of today’s trading session and that put pressure on the yen. The currency is considered to be safe and demand for the yen tends to weaken as mood of traders’ improve. The Japanese currency was stronger at the beginning of the session as Standard … “Yen Depressed as FX Market Casts Off Negative Sentiment”
Canadian Dollar Climbs After Trade Deficit Narrows
The Canadian dollar rose against safer currencies today, though fell against some riskier ones, as the risk sentiment on the Forex market was positive for the loonie. Canada’s trade balance deficit shrank more than was expected, adding to the appeal of the currency. Canada’s trade balance deficit narrowed from C$2.5 billion in July to $1.3 billion in August. The projected deficit was C$1.8 billion. The United States, Canada’s neighbor and the biggest trading … “Canadian Dollar Climbs After Trade Deficit Narrows”