The Australian dollar fluctuated today ahead of tomorrow’s policy meeting of the Reserve Bank of Australia. Today’s fundamental data was mixed, not giving the currency any particular direction to move. The RBA is expected to keep its monetary policy unchanged and that is supportive for the currency. Today’s reports were mixed. Inflation stayed almost unchanged at 0.3 percent and the ANZ Job Advertisements fell 0.9 percent in January. Meanwhile, building approvals … “Aussie Fluctuates Ahead of RBA Meeting”
Month: February 2013
Sterling Strong Even as UK Construction Declines
The Great Britain pound remained strong today even after a report showed that Britain’s construction stayed in decline last month. The sterling advanced against the US dollar as likely the Friday’s huge drop was overdone, while rally of pound against the yen can be explained by the weakness of the Japanese currency. The Markit/CIPS UK Construction Purchasing Managers’ Index remained at 48.7 in January, unchanged at from the December’s six-month low. The reading below … “Sterling Strong Even as UK Construction Declines”
GBP/USD: Trading the British Services PMI Feb 2014
The British Services PMI is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economic and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Tuesday … “GBP/USD: Trading the British Services PMI Feb 2014”
February 2013 Monthly Outlook Released
The Forex monthly outlook for February 2013 is available for subscribers of the Forex Crunch newsletter. The outlook is available both on the site and in PDF format.. To download it for free, just join the mailing list below. 2013 began with a storm – volatility has risen in a wide variety of currencies: not … “February 2013 Monthly Outlook Released”
Protected: Forex Monthly Outlook February 2013 – Web Version
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Dollar Mixed After Fed Meeting & Non-Farm Payrolls
The US dollar weakened against most currencies including the euro and the currencies of New Zealand and Canada this week. Yet the greenback managed to gain on some currencies, most notably the Great Britain pound and the Japanese yen. There were plenty of macroeconomic reports this week, some good, some bad, and overall they did not describe a clear picture of the US economy. Confusing fundamentals led to mixed performance of the US dollar. But … “Dollar Mixed After Fed Meeting & Non-Farm Payrolls”
JPY Extends Drop, Reaches Record Low Since 2010 vs. USD & EUR
The Japanese yen fell, reaching the lows not seen since 2010 against the US dollar and the euro, on talks that a new head of the Japanese central bank will increase stimulus as the nation’s economy remains weak. The term of current Bank of Japan Governor Masaaki Shirakawa ends in April. There are speculations that Prime Minister Shinzo Abe will choose a new BoJ leader that will be more aggressive with … “JPY Extends Drop, Reaches Record Low Since 2010 vs. USD & EUR”
Weakness of Canadian Dollar Does Not Hurt CAD/JPY
The Canadian dollar weakened today as crude oil declined and on concerns that nation’s unemployment rose last month. The currency continued to advance versus the Japanese yen as Canadian economic growth accelerated. Crude oil futures dropped as much as 1 percent to $96.51 per barrel in New York. Analysts fear that next week’s report will show an increase of unemployment from 7.1 percent to 7.2 percent. Losses were limited and the rally … “Weakness of Canadian Dollar Does Not Hurt CAD/JPY”
US Dollar Falls on Enthusiasm over Global Economic Data
US dollar is falling today as better news from around the world boost risk appetite. As Forex traders become enthusiastic about risk assets, looking for yields rather than safe haven. A raft of economic data was released earlier, indicating that the global economy has been moving in a recovery direction, and that has many Forex traders excited about high beta currencies. As a result, the greenback is headed … “US Dollar Falls on Enthusiasm over Global Economic Data”
Euro Continues to Gain as Better Data Comes In
Euro is getting a boost today, moving through the 1.3600 level against the US dollar as better economic data comes in. Signs of stabilization in the euro zone are supporting the 17-nation currency. The latest economic data out of the eurozone is quite encouraging, pointing to stabilization in the region. First of all, the decline in eurozone manufacturing activity eased for the month of January. On top of that, inflation and unemployment both appear to have stabilized. The news is … “Euro Continues to Gain as Better Data Comes In”