The Japanese yen joined the US dollar in the decline today as US politicians managed to avert the financial cliff in the United States and traders were selling safe assets amid the resulting risk appetite. Safe currencies, namely the dollar and the yen, were very weak today amid celebration of what looks like the end of the yearlong worries about the potential financial disaster in the United States. The Japanese currency was falling even versus the greenback as the probability … “Yen Joins Dollar in Rally to Downside”
Month: January 2013
Dollar Slumps as Fiscal Cliff Averted
The US dollar sank today after the breakthrough in the negotiations about avoiding the fiscal cliff in the United States, which will allow averting a disaster for the US economy. US politicians voted for the bill that will allow preventing the automatic tax increases and spending cuts. It is left for President Barack Obama to give a final approval for the deal and he is likely to do so as he has previously said that “while neither … “Dollar Slumps as Fiscal Cliff Averted”
GBP/USD: Trading the UK Construction PMI January 2 2013
The British Construction PMI Index is based on a survey of Purchasing Managers in the UK construction industry. The survey includes about 170 respondents, who are surveyed for their view of a wide range of business conditions, including employment, new orders, prices and inventories. A reading which is higher than the market forecast is bullish … “GBP/USD: Trading the UK Construction PMI January 2 2013”
Forex Crunch Key Metrics December 2012 and 2012 Roundup
The final month of 2012 was the weakest month of the year, as expected. Despite the holiday season, December 2012 was still better than December 2011. The overall numbers for 2012 were better than 2011 as well, with a rise of 17% in page views. December 2012: Page Views: 313,151. Visits: 136,143. Visitors: 51,292. Time … “Forex Crunch Key Metrics December 2012 and 2012 Roundup”
Gold Could Hit New All-Time Highs In 2013 – Elliott
Gold prices remain in an uptrend after breaking through the resistance line (in red) connected from the all-time highs. This break looks very similar to the one that occurred in 2009 when gold was trading around $900 per ounce. In fact, from an Elliott Wave perspective, recent sideways price action from August 2011 high was … “Gold Could Hit New All-Time Highs In 2013 – Elliott”
USD/JPY: Trading the ISM Manufacturing PMI Jan 2013
As we start 2013, the first key release will be the ISM Manufacturing PMI (Purchasing Managers’ Index) on Wednesday. This index is based on a survey of purchasing managers in the manufacturing sector, who are asked for their views of the economy and business conditions in the US. A reading which is higher than the market … “USD/JPY: Trading the ISM Manufacturing PMI Jan 2013”