Chinese Flash Manufacturing PMI is based on a survey of purchasing managers in the Chinese manufacturing sector. Respondents are surveyed for their view of business conditions in the manufacturing industry. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for … “AUD/USD: Trading the Chinese Flash PMI Apr 2013”
Month: April 2013
Shakeup in Italian Politics – Two Options for Italy and
There has been a significant shakeup in the political scene in Italy over the weekend. Italian president Giorgio Napolitano was reelected for another 7 year term after already heading out. In addition, the leader of the center-left PD party Pier-Luigi Bersani resigned after losing support within his party. These significant changes leave Italy with two … “Shakeup in Italian Politics – Two Options for Italy and”
Dollar Posts Weekly Gains amid Worries About Global Growth
The US dollar gained this week as concerns about global economic growth resulted in a huge sell-off of riskier assets and the greenback retained its strength for the most of the week even as the market sentiment improved. Monday started with negative news from China, setting the mood for the rest of the week. The Chinese yuan managed to reach a record despite the news on speculations that the central bank may widen the trading range. The downward revision of the global growth … “Dollar Posts Weekly Gains amid Worries About Global Growth”
Yen Heads Back to Recent Lows After G-20 Meeting
The Japanese yen continue to fall, heading to its recent record lows, on anticipation of additional aggressive easing measures from the Bank of Japan after the Group of Twenty gave Japan the go-ahead to reflate its economy. The G-20 again voiced no objection on the past meeting to Japan’s policies. It is interesting to see how the Group tolerates the measures to weaken the yen, condemning currency wars at the same time. Politicians found an excuse, saying that … “Yen Heads Back to Recent Lows After G-20 Meeting”
CAD Closes Flat vs. USD & EUR, Stronger vs. JPY
The Canadian dollar closed flat versus its US peer yesterday, erasing its previous gains. The currency was also flat against the euro, paring losses. The loonie gained against the Japanese yen that was the weakest against most-traded currencies. Fundamentals were not particularly good in Canada. The Consumer Price Index rose 0.1 percent in March, slower growth than the February’s 0.7 percent. The annual growth of the CPI slowed … “CAD Closes Flat vs. USD & EUR, Stronger vs. JPY”
Euro Steadies against Dollar after Spike on Weidmann Comments
Euro is steadying against the US dollar after an earlier spike on comments made by an ECB official. Euro is moderating its gains, but it is still heading higher against its major counterparts. Earlier, Jens Weidmann, president of Germany’s Bundesbank, and member of the ECB governing council, said that interest rates are fine as they are, and that there is no reason for the ECB to cut rates anytime … “Euro Steadies against Dollar after Spike on Weidmann Comments”
UK Pound Struggles after Earlier Success
UK pound is struggling right now, following earlier strength against the US dollar. UK retail sales data helped, but it hasn’t been enough for the pound to retain its gains against the greenback. UK pound is falling today, dropping as concerns about continued quantitative easing keep Forex traders cautious about the pound. Earlier in the session, GBP/USD reached as high as 1.5369, but the pound has since … “UK Pound Struggles after Earlier Success”
MahiFX wins Best Trading System at the FStech Awards
The 13th annual FStech awards grants MahiFX the “Best Trading System” prize. The New Zealand based forex broker is recognized for its innovation. MahiFX recently added a forex trading desktop application. For more about this award, here is the official press release: LONDON, 19 April 2013 – MahiFX, the proprietary-built FX trading platform that provides … “MahiFX wins Best Trading System at the FStech Awards”
NZ Dollar Gains Despite Slowing Growth in China
The New Zealand dollar gained today even as macroeconomic reports suggested that economic growth in China is slowing, worsening prospects for New Zealand exports. The Conference Board’s leading indicators for China stalled in March after rising 1.2 percent in February. The kiwi did not bulk to the negative impact of the poor data from New Zealand’s biggest trading partner. Domestic fundamentals were more supportive for the currency as inflation accelerated to 0.4 … “NZ Dollar Gains Despite Slowing Growth in China”
Won Gains amid Easing Tensions Between North & South Koreas
The South Korean won gained today as South Korea, Japan and China planned to coordinate efforts for resolving the political tension between North and South Korea’s. Previously, tensions were escalating after North Korea performed a nuclear test and threatened to attack its Southern neighbor. Now, concerns are waning on prospects of peaceful negotiation. The hostility persists for now though and together with fear of global economic slowdown it may yet push … “Won Gains amid Easing Tensions Between North & South Koreas”