The US dollar dipped today on speculations that the Federal Reserve will not reduce stimulus as the recent fundamental data was not good enough to warrant tighter policy. The Fed started its two-day meeting today. Analysts do not expect the US central bank to change its monetary policy, but wording of the decision may influence the Forex market strongly. US economic reports were not good enough to believe … “Dollar Drops as Fed Starts Policy Meeting”
Month: April 2013
AUD/USD: Trading the Australian Building Apr 2013
Australian Buildings Approvals measures the change in the number of new building approvals issued. It is one of the most important indicators of the construction sector. A reading that is higher than the market prediction is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Tuesday … “AUD/USD: Trading the Australian Building Apr 2013”
Euro Retains Lead on Major Counterparts
Euro is retaining its lead against major counterparts today, even though there are concerns about the eurozone economy. Economic news in other major economies has also been lackluster, so the euro has managed to retain some of its strength. Even though the euro is holding its ground, there are still plenty of concerns for the future. Recession is threatening the eurozone as economic data continues to disappoint. … “Euro Retains Lead on Major Counterparts”
ECB unlikely to introduce negative interest rates
The German Bundesbank and Mario Draghi have reservations regarding negative interest rates, that would punish strong banks, says Simon Smith of FxPro. In the interview below, Smith also discusses the lower yields in the euro-zone, how the sequester has yet to hit the US economy, and other topics. Simon has over seventeen years experience of … “ECB unlikely to introduce negative interest rates”
Japanese Yen Gains Ground
Japanese yen is gaining ground today, heading higher against the dollar and making some inroads against the euro. Economic data out of Japan is having an effect as well. The recent Bank of Japan decision not to adjust the current asset purchase program has provided a little respite for a weakening yen. However, the latest economic data, indicating lackluster performance, could prompt the BOJ to take the aggressive easing action it’s been … “Japanese Yen Gains Ground”
USD/JPY: Trading the ISM Manufacturing PMI Apr 2013
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 … “USD/JPY: Trading the ISM Manufacturing PMI Apr 2013”
Slowing GDP Growth Hurts Taiwan Dollar
The Taiwan dollar weakened today after data showed that the first quarter’s growth of the country’s economy was slower than analysts have anticipated. Taiwan gross domestic product expanded 1.54 percent in the first quarter of 2013. The increase trailed the forecast of 3.1 percent and the advance of 3.72 percent in the previous three months. The slowing growth led to concerns that the global economic slowdown will continue to harm emerging economies, reducing demand … “Slowing GDP Growth Hurts Taiwan Dollar”
Falling Consumer Confidence Does Not Affect Pound Much
The Great Britain pound was little changed today even after UK consumer confidence unexpectedly fell this month, suggesting that the Britain’s problems did not end yet. The GfK UK Consumer Confidence Index decreased by one point to -27 in April. Forecasters have predicted it to stay unchanged at -26. The report said that “the recovery in confidence has stalled, and real recovery looks a long way away”. GBP/USD … “Falling Consumer Confidence Does Not Affect Pound Much”
Share4You – an order auto copy forex service
A new trade copy service has been launched by E-Global Trade & Finance Group: Share4You. The company states that the average slippage is only 0.01 pips. For more information, here is the official press release: The new “Share4You” social trading platform marks the start of a new era in combining high performance of 0.01 pips of … “Share4You – an order auto copy forex service”
OANDA Europe Adds More CFDs
Forex broker OANDA responds to customer demand and adds more CFDs to its offering. European retail investors can now trade the Swiss 20, the Russell 2000 Index, 10 year bonds of Germany and the UK, and more instruments. OANDA recently launched a shiny version of its mobile application. For more on the CFD offering, here … “OANDA Europe Adds More CFDs”