The Canadian dollar fell amid concerns that global economic growth may not be enough to support demand for commodities and commodity-related currencies. The loonie attempted to rally before the end of the session, but did not manage to rebound, though was able to trim the losses. Traders were concerned as the data showed that China’s fixed-asset investment declined in December from the previous month. On top of that, US consumer sentiment unexpectedly worsened, … “Loonie Does Not Manage to Erase Losses Before Close”
Month: January 2013
Euro Gives Back Some of Its Gains
Euro is giving back some of its earlier gains today. Over the past few sessions, euro has seen some solid gains. However, as growth concerns about the eurozone assert themselves, there are worries about what might be next, and the euro is pulling back. Given the concerns about eurozone economy, it’s not much of a surprise that the euro is giving back some of its recent … “Euro Gives Back Some of Its Gains”
Risk Aversion Rises, Sending US Dollar Higher
US dollar is heading higher today, thanks to risk aversion in the markets. Disappointing economic news and continued worries about what’s next for the global economy continue to weigh on risk assets. Forex traders are looking for safe haven, and the US dollar is providing that. Once again, concerns about what’s next for the US economy and the world economy are weighing on risk appetite. Risk aversion is on the rise, and traders are … “Risk Aversion Rises, Sending US Dollar Higher”
Malaysian Ringgit Gets Boost from Global Growth
The Malaysian ringgit strengthened today as investors felt optimistic about the global economy amid signs that growth is picking up and the worse has already passed. Other Asian currency also gained. China’s gross domestic product grew 7.9 percent in the fourth quarter of 2012 following the 7.4 percent increase in the preceding quarter, according to the National Bureau of Statistics of China. The nation’s economic growth accelerated for the first time in two years. … “Malaysian Ringgit Gets Boost from Global Growth”
NZD/USD Falls with Lower CPI
The New Zealand dollar dropped against its US counterpart today as consumer prices unexpectedly fell last quarter in New Zealand, adding incentive for the central bank to keep borrowing costs low. New Zealand’s Consumer Price Index retreated 0.2 percent in the fourth quarter of 2012, following the increase by 0.3 percent in the previous three months. Analysts were unpleasantly surprised as they had expected an increase by 0.1 percent. The Reserve Bank … “NZD/USD Falls with Lower CPI”
New Delta Hedging Version Launched by MarketsPulse
Binary options provider launches a new tool that enables clients to reduce risk. The new version of the Delta Hedging is intended to make traders more profitable. MarketsPulse recently introduced Binary Options within MetaTrader 4. For more on the hedging tool, here are more details from the press release: LONDON – MarketsPulse, the leading binary options … “New Delta Hedging Version Launched by MarketsPulse”
AUDUSD: Despite Bad Employment Numbers, Uptrend Remains Intact
Despite weak employment data from Australia reported two sessions back, AUDUSD was able to turn bullish from the 1.0493 level after an initial 878 pip fall from daily open. On the chart below you can see that the pair bounced from the daily trend-line connected from December 27th low which holds very well for now, … “AUDUSD: Despite Bad Employment Numbers, Uptrend Remains Intact”
Canadian Dollar – Has a Potential to Leap
The Canadian dollar didn’t go anywhere fast in December, but managed to make some gains against the greenback. After support held nicely over and over again, USD/CAD has a potential to fall. * This article is part of the January 2013 monthly forex report. You can download the full report by joining the newsletter in … “Canadian Dollar – Has a Potential to Leap”
Anticipation of Intervention Continues to Drive Yen Down
The Japanese yen continued to weaken today on speculations about an intervention from the central bank and as the risk-on sentiment on the Forex market drove traders to currencies with higher yield. The Bank of Japan policy meeting next week makes investors uneasy as they anticipate further easing of the monetary policy. There were some doubts if that is going to happen, which were caused by comments of Economy Minister Akira Amari. Yet now … “Anticipation of Intervention Continues to Drive Yen Down”
Australian Employment Negatively Surprises, AUD Suffers
The Australian dollar dropped today after the employment data turned out to be even worse than pessimistic forecasts, adding to signs of economic weakness of Australia. The currency managed to climb versus the Japanese yen. reaching the strongest level since 2008. Australian employment unexpectedly decreased 5,500 in December after rising 17,100 in November. Analysts have promised an increase by 2,300. Moreover, the unemployment rate rose to 5.4 percent as was expected and the November … “Australian Employment Negatively Surprises, AUD Suffers”