US dollar is lower today as a touch of risk appetite returns to the markets. The prospect of a fiscal cliff deal is helping to support high beta currencies, and there are also concerns about more easing for the US dollar in the first quarter of 2013. Right now, there is a bit of optimism floating around regarding a resolution to the fiscal cliff issues. With President Barack Obama heading back from his Christmas holidays … “What’s Next for the US Dollar?”
Month: December 2012
Indonesiaâs Fundamentals Endanger Rupiah
The Indonesian rupiah was flat today, but remains in danger as the rising trade balance deficit may lead to growth of current account deficit. Such prospects drove investors away from the nation’s assets. The trade shortfall widened to $1.5 billion in October, reaching the highest level since at least 2008. The central bank predicted that the current-account gap will increase to the record 2.3 percent of gross domestic product. According the exchange data, … “Indonesiaâs Fundamentals Endanger Rupiah”
Japanese Yen Drops on BOJ Easing Expectations
The Japanese yen is dropping today, heading lower against its major counterparts as easing expectations dominate the news. With Shinzo Abe set to be the new prime minister in Japan, aggressive easing is expected for the Bank of Japan. That is leading to a lower yen today. Shinzo Abe, who served as prime minister for less than a year before resigning in 2007, is back in as the Liberal Democratic Party won in the recent … “Japanese Yen Drops on BOJ Easing Expectations”
IFXEXPO Asia 2013 – PFSOFT Will Attend
The upcoming and highly anticipated iFXExpo event in Macao will be also attended by PFSoft. The company recently published its Protrader 2 product. Here are more details, from the press release: PFSOFT is going to take part in iFXEXPO Asia 2013 that will take place on the 23rd and 24th of January, in Macao. We would … “IFXEXPO Asia 2013 – PFSOFT Will Attend”
EUR/USD: Trading the US Unemployment Claims Dec 2012
US Unemployment Claims is released weekly, and measures the number of people filing for unemployment for the first time. It is considered an important measure of the health and direction of the economy. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible outcomes … “EUR/USD: Trading the US Unemployment Claims Dec 2012”
AUD/USD, USD/CAD and Gold Elliott Wave Video Analysis
2012 was a very interesting year for the markets with a lot of important swings and trend changes. Our forecasts were mostly right, and we will do our best to repeat this in 2013. For the year end we decided to give you a free access to our latest video analysis on AUDUSD, USDCAD and … “AUD/USD, USD/CAD and Gold Elliott Wave Video Analysis”
Pound Struggles on Home Prices Data
UK pound is struggling today, especially against the euro. Concerns about the economy continue to weigh on the British currency as austerity measures slow economic growth. George Osborne‘s austerity plan has been backfiring quite a bit recently, and that has been weighing on the UK pound against its European counterparts. Austerity measures were meant to reduce the deficit, but it has grown. On top of that austerity is hindering … “Pound Struggles on Home Prices Data”
Euro Higher as Concerns about Debt Crisis Fade
Concerns that the debt crisis will destroy the euro are fading, and that is helping the euro against other majors today. The 17-nation currency is getting quite a lot of help as news out of other economies helps the euro look good by comparison. Once again, in the United States, the fiscal cliff is the focus of all the worry. This is in contrast to the fact that, in the eurozone, worries about the debt crisis are fading. … “Euro Higher as Concerns about Debt Crisis Fade”
Ringgit Retreats as US Fiscal Cliff Spooks Investors
The Malaysian ringgit fell today as fears of the fiscal cliff in the United States and its impact on the US and global economies deterred investors from buying riskier assets. Forex market participants did not like how the negotiations among US politicians were proceeding and preferred not to risk amid the atmosphere of uncertainty. Domestic fundamentals were not supportive for the ringgit either as exports declined for the third month in October. As a bit of positive news, the government … “Ringgit Retreats as US Fiscal Cliff Spooks Investors”
Yuan Falls as PBoC Lowers Fixing
The Chinese yuan fell against the US dollar today as the nation’s central bank lowered its reference rate and on the general risk aversion sentiment among Forex traders. The People’s Bank of China set the daily fixing by 0.05 percent to 6.2913 per dollar today, the lowest level since December 14. The Forex market turned to the risk-off mode after the Republican House canceled vote on Speaker John Boehnerâs “plan B” last week. … “Yuan Falls as PBoC Lowers Fixing”