The Canadian Building Permits indicator measures the change in the number of new building permits 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 Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on Tuesday at 12:30 … “USD/CAD: Trading the Canadian Building April 2013”
Month: April 2013
Financial Juice Launches – Curated Financial News and Analysis
After long months of development and tuning, Financial Juice launches today. The new site offers traders a platform for real time break news (including sound notifications) as well as a place for sharing educational articles and videos from a wide variety of sources, including webinars. The site is managed by a professional analyst team. Here is … “Financial Juice Launches – Curated Financial News and Analysis”
Cyprus – Small Island, Big Precedents
The small island nation in the Eastern Mediterranean was never considered a systemic risk for the euro, but the precedents set there could be critical. The country was weathering the global financial crisis quite well during the first years. A first blow came from an explosion that occurred in the summer of 2011 near a … “Cyprus – Small Island, Big Precedents”
Battle of the Budgets….dead ahead
There’s a battle going on and the battle is which version of the 2014 budget will be approved? The folks in DC are jockeying for position to determine which budget will be approved. Last month, two budgets were revealed: the Ryan budget, produced by GOP Congressman Paul Ryan and the Murray budget, produced by Democrat … “Battle of the Budgets….dead ahead”
BoJ Accommodation Leads to Huge Weekly Losses for Yen
The Japanese yen demonstrated huge losses this week, dropping to multi-year lows (it fell to the lowest since 2008 against some currencies), as the Bank of Japan pursued aggressive quantitative easing. Some analysts have thought that Haruhiko Kuroda would not take bold actions on his first policy meeting as the BoJ head. Nothing could be further from truth. Kuroda acted and acted boldly, as he had promised. … “BoJ Accommodation Leads to Huge Weekly Losses for Yen”
USD Loses Ground After Non-Farm Payrolls, Still Strong vs. JPY
The US dollar dropped today, falling for the third straight session against the euro and the Great Britain pound, after non-farm payrolls showed very small growth. At the same time, the US currency jumped to the highest level since June 2009 versus the Japanese yen. Non-farm employment grew 88,000 in March. It was nowhere near the median forecast of 198,000. Other macroeconomic data was a bit better. The unemployment rate ticked down … “USD Loses Ground After Non-Farm Payrolls, Still Strong vs. JPY”
CAD Slumps as Fundamentals Look Terrible, Rises vs. JPY
The Canadian dollar sank today as fundamental reports were very bad, even worse that forecasts, which were not optimistic. The currency managed to outperform the Japanese yen, which remained soft because of aggressive quantitative easing from the Bank of Japan. Analysts have expected a meager employment growth by 6,800 jobs in March, but the actual report frustrated even pessimists as it showed a drop by 54,500. What is more, the unemployment … “CAD Slumps as Fundamentals Look Terrible, Rises vs. JPY”
US jobs disappoint – where next for USD?
The rate of jobs creation in March slowed sharply in the US economy with 88,000 created against expectations of something closer to 190,000, according to a poll of analysts conducted by Bloomberg. USD quickly sold off, but could this actually mark a return to risk aversion? Selling of risk assets such as equities and commodities … “US jobs disappoint – where next for USD?”
NZD Near Highest Since 2008 vs. JPY, Drops vs. USD
The New Zealand dollar traded sideways near the highest level since 2008 against the Japanese yen today after yesterday’s huge surge. The currency fell against its US peer as worse-than-expected US non-farm payrolls hurt the market sentiment, reducing demand for higher-yielding assets. NZD jumped together with other currencies against the yen today after the Bank of Japan announced an aggressive quantitative easing. The kiwi weakened today after … “NZD Near Highest Since 2008 vs. JPY, Drops vs. USD”
Malaysian Ringgit Rallies on Hopes Elections Will Stop Capital Outflows
The Malaysian ringgit gained today as Prime Minister Najib Razak dissolved the parliament and announced the national elections. Investors think that outflows from the country will reverse after the vote. It is expected that voting will go in favor of the incumbent Prime Minister, allowing him to extend his term in the office. The ringgit has fallen to 3.1395, the lowest level in seven months, on March 18 on uncertainty about the exact timing of elections … “Malaysian Ringgit Rallies on Hopes Elections Will Stop Capital Outflows”