US Non-Farm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bearish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 13:30 GMT. Indicator Background … “EUR/USD: Trading the US NFP Dec 2012”
Month: December 2012
Employment Data Pushes Aussie to Highest in Several Months
The Australian dollar advanced today, reaching the highest level since September against the US dollar and the highest since April versus the Japanese yen, as Australian employment data was much better than expected. Australian employers added as much as 13,900 jobs in November, while analysts have expected a meager growth by 200. The unemployment rate fell from 5.4 percent to 5.2 percent instead of rising to 5.5 percent as was predicted. The Australian … “Employment Data Pushes Aussie to Highest in Several Months”
Rand Goes Up as South Africa’s Current Account Deficit Remains Stable
The South African rand gained today, advancing for the fourth straight trading session, as the nation’s current account deficit remained unchanged last quarter, proving that analysts’ pessimistic predictions were wrong. South Africa’s current account shortage stayed at 6.4 percent of gross domestic product in the third quarter, the same as in the preceding quarter. Economists have expected it to widen to 6.7 percent. The South Africa’s central bank cited the gap as one … “Rand Goes Up as South Africa’s Current Account Deficit Remains Stable”
MarketsPulse to Attend the South Africa Forex Expo
MarketsPulse, a company specializing in binary options, will attend the first forex expo in Capetown, South Africa. Around 5000 people are expected to attend this big event: Here is more information about the African FX trading environment. And below you can find more information about MarketsPulse’s attendance, from the official press release: LONDON– As part … “MarketsPulse to Attend the South Africa Forex Expo”
Merkel not likely to accept a Greek haircut before the
German Chancellor Angela Merkel softened her stance regarding taking losses on Greek loans, accepting the arithmetic of the situation, but this new stance does not reflect her voters, says John Kicklighter of DailyFx. So, do not expect a change of policy anytime soon. In the interview below, Kicklighter also discusses the ECB’s rate decision, market action around … “Merkel not likely to accept a Greek haircut before the”
Pound Keeps Strength amid Negative Fundamentals
The Great Britain pound fell against the US dollar, yet managed to advance versus the euro and the Japanese yen today even as fundamentals were not at all supportive for the currency. The Office for Budget Responsibility revised the growth forecast to -0.1 percent for 2012 and to 1.2 percent in 2013 in its economic and fiscal outlook. The previous forecast was 0.8 percent for this year and 2.0 percent for the next. Chancellor of Exchequer George Osborne said that austerity … “Pound Keeps Strength amid Negative Fundamentals”
Zloty Remains Strong Even as Poland’s Central Bank Cuts Rates
The Polish zloty managed to appreciate today even after Poland’s central bank slashed its key reference rate amid the economic slowdown and hinted that further rate cuts are possible. The National Bank of Poland cut its main interest rate by 25 basis points to 4.25 percent today. The bank explained the decision by negative developments in both world and domestic economies. Regarding the global fundamentals the central bank said: Incoming … “Zloty Remains Strong Even as Poland’s Central Bank Cuts Rates”
US Dollar Inches Higher on Tendency Toward Risk Aversion
US dollar is inching higher today, eking out some gains after earlier softness. With the latest news out of the eurozone designed to weigh on high beta currencies, greenback is seeing some small demand right now. Earlier, the US dollar showed some softness as other currencies took center stage. However, the greenback is now making some headway as risk aversion comes creeping back. Weakness … “US Dollar Inches Higher on Tendency Toward Risk Aversion”
Australian Dollar Strong Even as Economic Growth Slows
The Australian dollar retained yesterday’s gains against its US peer and rose versus some other most-traded currencies, including the Japanese yen, today even as the data showed that Australia’s economic growth slowed in the last quarter. Australia’s gross domestic product rose 0.5 percent in the third quarter of 2012 from the previous quarter on a seasonally adjusted basis. Analysts have thought that growth would remain at the second quarter’s rate … “Australian Dollar Strong Even as Economic Growth Slows”
Euro Slips as Data Disappoints
Euro is heading a little bit lower, slipping as eurozone data disappoints, and as the Spanish bond auction doesn’t go as well as hoped. After hitting a seven-week high against the US dollar, the 17-nation currency is now pulling back. Once again, signs are evident that the eurozone economy is in contraction. Earlier, the euro gained ground on the expectation that the contraction was slowing a little bit, but disappointments have been … “Euro Slips as Data Disappoints”