The New Zealand dollar fell yesterday after data showed that US unemployment claims rose more than expected. The kiwi rebounded today, though, but it is still unclear, whether it is a change of the trend or just a temporary bounce. US claims for unemployment benefits were up from 342,000 to 388,000 last week, beating analysts’ forecast of 367,000. Employment and unemployment data is usually a good indicator … “NZ Dollar Bounces Up After Decline on US Jobless Claims”
Month: October 2012
Canadian Dollar Hurt by Flaherty’s Comments
The rally of the Canadian dollar was cut short by comments of Finance Minister Jim Flaherty, who indicated that projections for Canada’s economic growth may be revised down. The comments added to general uncertainty on the Forex market that was hurting riskier currencies. Flaherty said: We may have to revise downward somewhat. So far weâre in the same ballpark as we anticipated in the budget. The comments followed the speech of central bank’s Governor … “Canadian Dollar Hurt by Flaherty’s Comments”
Are There Any Safe Havens Left? (Video)
Several central banks are eager to lower the value of their currencies, with those in Japan and Switzerland, the classic safe havens, standing out. So, are there new safe havens. Is anything safe? Simon Smith of FxPro hosted a discussion about this topic with Michael Derks (FxPro), Gonçalo Moreira (FXStreet) and myself. In search for … “Are There Any Safe Havens Left? (Video)”
AUD/JPY Advances, AUD/USD Snaps Gains
The Australian dollar gained against the Japanese yen today after macroeconomic data showed that China’s economy is stabilizing. The Aussie also advanced versus the US dollar, but later pared its gains. China’s industrial production rose 9.2 percent and retails sales grew 14.2 percent in September from a year ago. Market expectations were at 9.0 percent and 13.2 percent respectively. At the same time, nation’s economic growth … “AUD/JPY Advances, AUD/USD Snaps Gains”
Yen Weakens, Even as Risk Appetite Fades
Even though the risk rally is showing signs of slowing, the Japanese yen still remains weaker against other majors. Yen just doesn’t have the same excitement going for it. Plus, Japanese leaders recently promised to help keep the yen weak in order to stimulate the economy. It’s an interesting situation right now. The recent risk rally is fading as eurozone fears return, and as Morgan Stanley reports a huge quarterly loss … “Yen Weakens, Even as Risk Appetite Fades”
Krona Rises as Ingves Speaks About Dangers of Low Interest Rates
The Swedish krona rose today as Riksbank Governor Stefan Ingves talked about dangers of extremely low interest rates. Forex market participants interpreted the comments as a hint that the central bank will not lower borrowing costs in the near future. There were demands for the central bank to lower lending rates as a measure for battling rising unemployment. In a response, Ingves said that he cannot stick to short-term perspective and explained long-term dangers … “Krona Rises as Ingves Speaks About Dangers of Low Interest Rates”
US Dollar Gains as Earlier Risk Appetite Fades
US dollar is gaining ground right now, thanks to fading risk appetite. Earlier, risk appetite pushed Asian stocks higher, and helped high beta currencies. Now, though, risk appetite is fading and Forex traders are turning to the safety of the greenback. Earlier, with the help of a higher S&P 500, and thanks to optimism about Europe, high beta currencies had the upper hand. However, that risk appetite is … “US Dollar Gains as Earlier Risk Appetite Fades”
USD/JPY: Trading the US Existing Home Sales Oct 2012
The US Existing Home Sales indicator is released monthly, and provides analysts with a snapshot of the health and direction of the housing sector. A higher reading than the market prediction is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Friday at 14:00 GMT. Indicator Background The … “USD/JPY: Trading the US Existing Home Sales Oct 2012”
FXCM in September: Sees Higher Volumes than August, Lower
US based Forex Broker FXCM reports monthly metrics for September 2012. The rise in volatility seen in September after a slow summer month of August is reflected in a rise in volume. However, with multi-year lows in volatility, September 2012 is weaker than September 2011. This phenomenon is industry wide. Also Forex Crunch saw a … “FXCM in September: Sees Higher Volumes than August, Lower”
Forex Mirror Trading Platform announced by ACM Gold
ACM Gold uses the Tradency platform to introduce mirror trading for its MetaTrader trading platform. Traders can now follow others and copy their trades. The social forex space is seeing another expansion, joining many other similar announcements. More details are in the official press release below. JOHANNESBURG – Foreign exchange is the most actively traded … “Forex Mirror Trading Platform announced by ACM Gold”