US dollar is mixed against major currencies today, but its gains against the yen and the pound aren’t helping the dollar index move higher. Instead, the dollar index is slipping on the greenback’s weakness against the euro and the Swiss franc. Greenback is mixed today, heading lower against the euro, but gaining against the UK pound. There is a lot to process right now, but the US dollar index is … “Dollar Index Slips as Greenback Turns in Mixed Performance”
Month: November 2012
Euro Gains Ground on End of Month Flows
Even though there is plenty of disappointing economic news in the eurozone, the euro is managing to head higher today. The main driver is end of the month flows, but there is also a little bit of support from the recently approved Greek debt deal. The latest economic data out of the eurozone has been somewhat disappointing. German retail sales dropped, consumer spending in France fell, and the unemployment rate continues to rise … “Euro Gains Ground on End of Month Flows”
Positive Traders’ Outlook Causes Gains of EUR/GBP
The Great Britain pound weakened against the euro today as Forex traders were hoping that the European crisis can be resolved and such hopes diminished appeal of the sterling as a haven against Europe’s troubles. The UK currency also fell versus the US dollar, erasing its previous gains. Market participants were looking more favorably at the euro after Greece has received another portion of the bailout package. Yields on bonds of European … “Positive Traders’ Outlook Causes Gains of EUR/GBP”
Rupee’s Appeal for Investors Increases
The Indian rupee strengthened today amid foreign inflows into the nation’s economy and the positive outlook of investors that increased attractiveness of Indian assets. Global funds purchased $247 million more Indian stocks than they sold in the first two days of this week, showing that investors demand for Indian assets remains. Goldman Sachs noted that India’s economy is improving. Moody’s Investor Service said that India’s … “Rupee’s Appeal for Investors Increases”
EUR/USD May Extend Rally To 1.3100 (Elliott Wave Analysis)
EURUSD reversed lower from the 1.3000 psychological at the start of the week and then perfectly reversed higher again from base channel that became a support. That was the ideal scenario for a current push higher into a wave (v) which may still rise towards 1.3090 while 1.2945 holds. EUR USD Elliott Wave Analysis – … “EUR/USD May Extend Rally To 1.3100 (Elliott Wave Analysis)”
4 Reasons to be Worried About US GDP Growth
The GDP growth figure for the US in Q3 2012 was revised from 2% to 2.7% (annualized). This is a significantly healthier level of growth, yet it was a bit lower than 2.8% that was expected. The more worrying part isn’t in the minor headline disappointment, but in the details. Here are 4 reasons to … “4 Reasons to be Worried About US GDP Growth”
Yen Weakens as Stalling Inflation Spurs Intervention Talks
The Japanese yen weakened today as a report showed that nation’s inflation stalled this month, fueling speculations that Japan’s central bank will intervene to support the struggling economy. Japan’s Consumer Price Index was unchanged (zero growth) in November from a month ago, according to the preliminary data. The annual change was -0.4 percent. The report added to speculations that the Bank of Japan will implement additional stimulating measures, weakening … “Yen Weakens as Stalling Inflation Spurs Intervention Talks”
Dollar Weak, Attempts to Rebound
The US dollar was weak today amid risk appetite of Forex traders, caused by hopes that the US fiscal cliff can be avoided and Europe will be able to resolve its problems. The currency shows tendency to regain strength as House Speaker John Boehner hurt the market sentiment. Boehner said that there is “no substantive progress” in the talks about avoiding the fiscal cliff. Previously, the US politicians were … “Dollar Weak, Attempts to Rebound”
FX Solutions Partners with Trading Central on Technical Analysis
US based Forex Broker FX Solutions introduces new capabilities to its clients. By teaming up with Trading Central, clients of FX Solutions clients access to chartist and mathematical analytics. The announcement follows a recent one about Capped Variable Spreads from 0.8 pips that FX Solutions offers. For more on this partnership, here is the official press release: … “FX Solutions Partners with Trading Central on Technical Analysis”
Jobless claims are less “Sandy” – 393K is (almost)
US weekly jobless claims dropped from 416K to 393K, within expectations of a drop to 392K. This improvement was overshadowed by the release of the first revision of Q3 GDP. This big change should still be taken with a grain of salt to due to “Sandy” – the super-storm that struck the east coast of … “Jobless claims are less “Sandy” – 393K is (almost)”