The US dollar fluctuated today after lawmakers voted to remove the debt ceiling temporary. The debt ceiling issue was spoiling the traders’ mood and without it traders felt confident enough to part with the dollar. Yet not all news was good and that allowed the greenback to retain some of its strength. US politicians voted in Washington today to remove the cap on borrowing as they are seeking ways to trim spending. The measure … “Dollar Fluctuates as US Politicians Temporary Remove Debt Ceiling”
Month: January 2013
CAD Drops to Parity with USD on BoC Statement
The Canadian dollar slumped today, reaching parity with its US counterpart, after the Bank of Canada suggested that an interest rate cut is not necessary immediately and may be postponed. The BoC left its main interest rate at 1 percent. The bank said that “the global economic outlook is slightly weaker” that was projected in October. The BoC noted Europe’s recession that is likely to drag on this … “CAD Drops to Parity with USD on BoC Statement”
Tradable Cooperates with Dow Jones on an FX News
The relatively new start-up Tradable continues expanding: it has collaborated with Dow Jones to develop a news application that will be exclusive to the new platform. The Danish company recently announced a partnership with NetDania, a well established developer of charts. For more on the cooperation with Dow Jones, here is the official press release: … “Tradable Cooperates with Dow Jones on an FX News”
Improved Jobs Data Helps UK Pound
UK pound is heading higher today, thanks in large part to better than expected jobs data. Between signs of economic improvement, and good news out of the eurozone, the UK pound is finding some solid support today. The Office for National Statistics indicates that, in December, the United Kingdom saw a decline of 12,100 in terms of jobless claims. This news came as a surprise, since many economists and analysts had expected an increase … “Improved Jobs Data Helps UK Pound”
Euro Gains Following Successful Portuguese Bond Auction
Euro is gaining against the US dollar today, heading higher as risk appetite makes an appearance on the currency market. Helped along by successful bond auctions in the eurozone’s periphery, the euro is showing some strength. The gains, though, might be threatened by a debt ceiling vote in the United States. Portugal held a bond auction for the first time since it was bailed out in 2011, and the results were rather favorable. The Treasury aimed … “Euro Gains Following Successful Portuguese Bond Auction”
Won Drops as Government Ready to Intervene
The South Korean won depreciated today after Finance Minister Bahk Jae Wan warned that the lawmakers may curb the recent gains of the currency. Such comments reduced the attractiveness of the won. Bahk said that the government is “all ready” to reduce the exchange rate volatility. Fears of an intervention drove traders away from the won. The currency reached the highest level in more than a year last week. Last year, the currency has … “Won Drops as Government Ready to Intervene”
AUD/USD Pares Losses, AUD/JPY Maintains Weakness
The Australian dollar fell at the beginning of today’s trading session as Australia’s consumer prices rose last quarter slower than was predicted. The currency pared losses versus the US dollar, but remained weak against the Japanese yen. The Australian Consumer Price Index grew just 0.2 percent in the fourth quarter of 2012 after rising as much as 1.4 percent in the previous quarter. Analysts have hoped for 0.4 percent growth. The falling CPI … “AUD/USD Pares Losses, AUD/JPY Maintains Weakness”
USDJPY: Corrective Pull-back May Extend To 86.80 (Elliott Wave
USDJPY reversed lower in the past 48 hours from a new high printed above 90 figure. Notice that the pair extended slightly through the impulse channel support line (connected from blue wave three and four) and is now testing levels of 87.80 support. Typically, the former wave four will be an ideal zone for a … “USDJPY: Corrective Pull-back May Extend To 86.80 (Elliott Wave”
USD/JPY: Trading the US jobless claims Jan 2013
US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is lower than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at … “USD/JPY: Trading the US jobless claims Jan 2013”
Japan’s Monetary Policy Drives Rand Higher
The South African rand appreciated today after the Bank of Japan spurred risk appetite on the Forex market by boosting its stimulating measures in order to help the economy. The quantitative easing program of Japan’s central bank boosted stocks and commodities, increasing the appeal of South Africa’s currency. The Standard & Poorâs GSCI index climbed 0.6 percent today. The Johannesburg Stock Exchange reported that overseas investors bought 2.8 billion rand ($317 … “Japan’s Monetary Policy Drives Rand Higher”