The Great Britain pound slumped today after the report showed that the manufacturing sector remained in contraction, albeit shrinking with slower pace. The Markit/CIPS UK Manufacturing PMI rose from 47.9 in February to 48.3 in March. Still, the reading below 50.0 indicates decline of the industry. Moreover, the actual figure was below the forecast of 48.9. The data reminded traders that Britain remains deep in troubles, driving investors away from the nation’s … “Pound Suffers from Manufacturing Contraction”
Month: April 2013
AUD Jumps Even as RBA Suggests Easing in the Future
The Australian dollar jumped today after the Reserve Bank of Australia kept interest rates unchanged, even though the central bank hinted that more accommodative measures should be expected in the future. The RBA kept its main interest rate at 3 percent. Governor Glenn Stevens expressed mildly positive view on the economic developments. He said regarding the global economy: Global growth is forecast to be a little below average … “AUD Jumps Even as RBA Suggests Easing in the Future”
Euro a Little Lower on Record Unemployment
Euro is a little lower today against the US dollar, thanks in part to record unemployment. However, the 17-nation currency isn’t down by as much as it could be, and it’s still holding its own against the UK pound. In a situation that makes it clear that the eurozone economy is still experiencing problems, the latest unemployment numbers from Eurostat show that unemployment is at a record high. The revised figure for January … “Euro a Little Lower on Record Unemployment”
5 Most Predictable Currency Pairs – Q2 2013
Not all currency pairs are born equal: some will make a convincing follow through when breaking clear lines of resistance or support, leaving only dust behind them. Or when they don’t have momentum, they will slow down and back off very close to these lines. These kind of pairs are the more predictable ones. However, … “5 Most Predictable Currency Pairs – Q2 2013”
USD/JPY: Trading the ISM Services PMI Apr 2013
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers, excluding 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 Services PMI Apr 2013”
Protected: Forex Monthly Outlook April 2013 – Web Version
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Dollar Falls, Rebound Still Possible
The US dollar fell against other major currencies yesterday and extended its losses today. There is still a change that this week’s employment data will allow the currency to recover. Non-farm payrolls will be released on April 5 and analysts expect them to show that the rate of growth stayed near 200,000 jobs. According to forecast, the unemployment rate will stay at 7.7 percent, nowhere near the Federal Reserve’s … “Dollar Falls, Rebound Still Possible”
CAD Mixed on Confusing Reports from USA
The Canadian dollar rose against its US counterpart, but fell versus the euro and the Japanese yen. Mixed economic reports from Canada’s major trading partner, the United States, led to confusion and lack of general direction for the currency. According to Institute for Supply Management, US manufacturing Purchasing Managers’ Index fell from 54.2 to 51.3 in March. It was expected to rise to 54.2. Meanwhile, construction spending rose 1.2 percent in February … “CAD Mixed on Confusing Reports from USA”
AUDUSD: Trading the AUD Trade Balance April 1 2013
Australian Trade Balance, released monthly, measures the difference in value between imported and exported goods. The indicator which provides important data about the health of the Australian export industry, a crucial sector of the economy. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes … “AUDUSD: Trading the AUD Trade Balance April 1 2013”
Yuan Falls as PMI Misses Projections
The Chinese yuan fell today even as the nation’s manufacturing expanded with faster pace last month. The data still missed projections and perhaps it is a reason for the currency’s weakness. According to the official data, China’s manufacturing Purchasing Managers’ Index rose from 50.1 in February to 50.9 in March. The projected growth was at 51.6. The separate report from Markit/HSBC showed that the PMI reached exactly this value (51.6), rising from … “Yuan Falls as PMI Misses Projections”