The US dollar erased its earlier losses versus the euro today as the fundamental data from the United States was not very encouraging. The greenback was weaker against other most-traded currencies as Japan’s quantitative easing sparked hope for global economic growth. The Richmond Manufacturing Index slumped from 5 in December to -12 in January, while analysts have promised the index would stay little changed. Last week, the preliminary report … “Dollar Erases Losses vs. Euro, Remains Soft vs. Other Majors”
Month: January 2013
This yen depreciation move is likely not over yet
The fresh rate decision by the BOJ is probably not the last one, as political pressure continues, says Michael Derks of FxPro. In the interview below, Derks also discusses the opportunities that the opportunities for the SNB, the dire situation in Britain, he fate of the debt ceiling, and more. Michael joined FxPro in May 2010 having … “This yen depreciation move is likely not over yet”
Euro Mixed in Forex Trading Today
Euro is mixed in forex trading today, following the latest Bank of Japan announcement, as well as the latest Spanish bond offering and the expectations that Germany and France will announce joint proposals for euro reform by May. Currencies seem to be looking for direction today, as a dearth of economic data forces traders to focus on other matters. Spain’s latest bond offering shows yields holding steady, which is an encouraging sign. Additionally, Forex … “Euro Mixed in Forex Trading Today”
Canadian Dollar Struggles after Latest Economic Data
Canadian dollar is struggling today, thanks to the latest economic data. November retail sales were disappointing. Additionally, it’s not helping that oil prices can’t seem to find some solid support. Risk appetite is in short supply today, as currency traders look to profit taking following the Bank of Japan announcement that it would put off open-ended asset purchases until 2014. This sentiment is … “Canadian Dollar Struggles after Latest Economic Data”
NZD/USD Goes Up, NZD/JPY Drops After BoJ Policy Meeting
The New Zealand rose against its US peer after the Bank of Japan expanded the monetary stimulus, improving prospects for global growth. The kiwi erased the earlier gains against the Japanese yen. Japan’s central bank concluded its two-day policy meeting today. The BoJ made the asset purchase program open-ended and increased its inflation target. The stimulating measures inspired hope that economic growth will pick up and that increased … “NZD/USD Goes Up, NZD/JPY Drops After BoJ Policy Meeting”
Yen Rallies Even as BoJ Introduces Open-Ended QE Program
The Japanese yen extended its rally today, rising for the third straight session against the euro and the Great Britain pound, even after the Bank of Japan introduced new measures to boost economic growth. The BoJ issued the joint statement together with the government, saying that the central bank will coordinate its efforts with lawmakers to achieve sustainable economic growth. As was expected, the BoJ set the inflation target to 2 percent. Moreover, … “Yen Rallies Even as BoJ Introduces Open-Ended QE Program”
Japanese Yen – Bears Remain Energetic
The once in a generation shift in the yen has really happened: the weakening of the Japanese yen worsened after the elections: not only did Shinzo Abe’s LDP party win an absolute majority, but he also commands a two thirds majority together with a coalition partner. In addition, the new government has not retreated on … “Japanese Yen – Bears Remain Energetic”
AUD/USD: Trading the Australian CPI Jan 2013
The Australian CPI (Consumer Price Index), which is released every quarter, measures the change in the price of goods and services charged to consumers. A reading which is higher than forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at 00:30 GMT. Indicator Background CPI, also … “AUD/USD: Trading the Australian CPI Jan 2013”
Mexican Peso Drops on Fears of Lower Interest Rates
The Mexican peso dropped today as Forex market participants were worried that the central bank will lower interest rates in the near future, supporting the economy, but weakening the currency at the same time. The Banco de Mexico left its main interest rate at 4.5 percent on January 18. Yet the bank said in the accompanying statement that lower interest rates may be prudent, indicating a “downward trend in general and core inflation” … “Mexican Peso Drops on Fears of Lower Interest Rates”
Forex Crunch is 4th Most Read Fundamental Report on
Forex Crunch’s report “How to trade events” is the 4th most read fundamental report on FXStreet. This site is proud to receive attention on the large forex portal. The section “How to trade events” focuses on one upcoming upcoming economic release, and provides information about how to trade a specific pair with this event. It … “Forex Crunch is 4th Most Read Fundamental Report on”