The Australian dollar strengthened today as retail sale beat analysts’ forecasts and trade balance deficit was smaller than expected. Still, most market participants believe that the Australian central bank will cut its interest rates tomorrow. Australia’s retail sales grew 0.5 percent on a seasonally adjusted basis in September from August. The rate of growth was above the expectations of 0.4 percent and the August rate of 0.3 percent. The trade … “Aussie Gains as Retail Sales Beat Estimates & Trade Deficit Shrinks”
Month: November 2012
GBP/USD: Trading the British Manufacturing Nov 2012
British Manufacturing Production, a key economic indicator, provides analysts and traders with a snapshot of the health of the UK manufacturing sector. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Tuesday at 9:30 GMT. Indicator Background … “GBP/USD: Trading the British Manufacturing Nov 2012”
Recommended Book:Sensible Guide to Forex by Cliff Wachtel
Esteemed analyst Cliff Wachtel has authored a very interesting book: “Sensible Guide to Forex”. This forex book is aimed at conservative mainstream investors who might never otherwise consider forex, but should, because we all need currency diversification. Even those who never plan to trade will find a wealth of information that will make them better … “Recommended Book:Sensible Guide to Forex by Cliff Wachtel”
Is an Obama Victory Already Priced In?
The US Presidential Elections are just around the corner, and perhaps the markets do not see it as a “tight race”, “too close to call” or “tossup” anymore, but rather assume that Barack Obama will be re-elected. Update: Obama is re-elected – EUR/USD jumps towards resistance – will the dollar continue weakening, or could this turn around? … “Is an Obama Victory Already Priced In?”
EUR/USD: Trading the US ISM Non-Manufacturing PMI
The US ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers, excluding those in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Traders should also note that this … “EUR/USD: Trading the US ISM Non-Manufacturing PMI”
Weekly Recap: Dollar Gains amid Positive US Fundamentals
The US dollar gained this week as positive macroeconomic data from the United States increased the attractiveness of the currency, even as the risk sentiment turned positive. Hurricane Sandy sent markets in turmoil at the beginning of the week, but trading rather quickly returned to normality. There were quite a few positive reports from the USA, though many were postponed because of the cyclone. Among positive data were reports about housing, employment and others … “Weekly Recap: Dollar Gains amid Positive US Fundamentals”
FXCM Expo 2012 Live Stream
FXCM is holding its Expo in Las Vegas. You can watch the event live in the player right here. There are live trading session, workshops about forex, interviews about forex moving the markets, trading the news, Elliott Wave analysis, Fibonacci for beginners, using trendlines to time entries and lots more interesting topics. The full schedule … “FXCM Expo 2012 Live Stream”
US Dollar Retains Gains After Release of October Jobs Data
US dollar is moving higher today, thanks to better than expected economic data, and concerns about what’s happening in the Europe. Greenback is hanging on to some of its earlier gains against the euro and the pound, and moving higher against the yen. US economic data has been showing something of improvement, even though the pace is somewhat slow. However, the trend for better data is there, and it is showing with … “US Dollar Retains Gains After Release of October Jobs Data”
Rand Declines Amid Signs of Slowdown in South Africa
The South African rand slumped today, following three sessions of gains, as signs of slowing economic growth of South Africa diminished the attractiveness of the currency even in the current risk-positive environment. The manufacturing Purchasing Managers’ Index declined for the third straight month in October, indicating contraction of the sector. Mining strikes led to rise of unemployment. The poor fundamentals made South African officials believe that nation’s growth will slow from 3.1 percent last … “Rand Declines Amid Signs of Slowdown in South Africa”
UK Data Pushes Pound Higher Against Euro
UK economic data is showing improvement, and that is helping push the pound higher against the euro. UK data is being contrasted with eurozone data, and the result is helping the pound. PMI data for construction in the United Kingdom rose to 50.9, beating expectations. Last week, third quarter GDP data indicated that the United Kingdom had moved out of recession. All of this is contrasted with eurozone … “UK Data Pushes Pound Higher Against Euro”