Euro is struggling against some of its major counterparts ahead of the next ECB meeting. While the euro is higher against the US dollar right now, the 17-nation currency is heading lower against the pound and the yen. With the latest economic data pointing to weakness, it’s not much of a surprise that the euro is struggling. Eurostat just released data indicating that annual price growth in the eurozone is at 1.7 … “Euro Struggles ahead of ECB Meeting”
Month: April 2013
US Dollar Heads Lower on ADP Report
The latest private payroll report, for March, is in, and it shows the slowest job growth in five months. As a result, the US dollar is heading a little bit lower, thanks to the concerns about economic growth. ADP released its private employment report earlier, and the report showed that only 158,000 private sector jobs were added in March, rather than the forecast of 200,000. After months of showing some progress, this … “US Dollar Heads Lower on ADP Report”
Ruble Retreats on Capital Outflows
The Russian ruble declined today as the problems in Europe made Forex traders less willing to risk and reduced their interest in assets of emerging economies, resulting in biggest outflow of capital from Russia in a year. Net capital outflow totaled $25.8 billion in the first quarter of 2013. On top of that, Anton Siluanov, the Minister of Finance, said that the government is going to increase its foreign-currency reserves, further hurting the ruble. The Russian currency has … “Ruble Retreats on Capital Outflows”
The BOJ can do quite a lot to weaken the yen
The first rate decision by Kuroda carries very high expectations. What can the Bank of Japan do? Quite a lot, says Simon Smith of FxPro. In the interview below, Smith lists the various measures that the BOJ can take. He also discusses which currencies would benefit from SNB diversification, the impact of the Cypriot crisis … “The BOJ can do quite a lot to weaken the yen”
FXTM Says Client Funds Are Safe
Cyprus based forex broker Forex Time (FXTM) says that funds of clients are safe as they are held in banks outside the island nation. This joins a statement by Windsor Brokers here. The full statement and a comment by FXTM founder Andrey Dashin regarding the situation in Cyprus are below: FXTM client funds are safe … “FXTM Says Client Funds Are Safe”
Loonie Gets Boost from US & China’s Data
The Canadian dollar continued to rise today as positive macroeconomic data from China and the United States invigorated performance of commodity currencies and made them more attractive to Forex traders. China’s non-manufacturing Purchasing Managers’ Index rose from 54.5 to 55.6 in March. US factory orders jumped 3 percent in February after falling 1 percent in January. The favorable reports added to the positive market sentiment, making investors seek higher yield. … “Loonie Gets Boost from US & China’s Data”
NZD Surges as Commodity Price Index Near Record
The New Zealand dollar jumped today after the commodity price index surged last month, increasing the attractiveness of nation’s assets. The currency touched the highest level since February 20 against its US counterpart. The ANZ Commodity Price Index climbed as much as 7.4 percent in March after rising 1.1 percent in the previous month. This was the third strongest monthly increase on the record. The index is only 6 percent below … “NZD Surges as Commodity Price Index Near Record”
Yen Pares Some of Its Earlier Gains Ahead of BOJ
Yen is paring some of its earlier gains against its major counterparts as Forex traders prepare for the first Bank of Japan meeting with Haruhiko Kuroda. A bit of risk appetite is also helping other currencies against the yen today. Earlier, yen saw some solid gains as Forex traders made safe haven bets. With eurozone unemployment reaching a record high, and with fears of a triple-dip recession in the United … “Yen Pares Some of Its Earlier Gains Ahead of BOJ”
April 2013 Monthly Outlook Released
The Forex monthly outlook for April 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. Welcome to April 2013 monthly report from Forex Crunch. The first quarter of 2013 extremely busy, … “April 2013 Monthly Outlook Released”
FXBriefs Launches Shiny, Fast, Forex News and Commentary Site
The new version of FXBriefs.com is now alive and it looks great. The site that came into life around two months ago received a totally new look&feel as well as new features. The site was founded by Jamie Coleman and Gerry Davies that were two of the prominent people behind Forex Live. They were joined … “FXBriefs Launches Shiny, Fast, Forex News and Commentary Site”