The latest GDP reading for Japan has been released, and it shows an improvement for the first quarter of 2013. This news hasn’t served to strengthen the yen, however. Instead the Japanese currency is down against its major counterparts on expectations of continued easing. Japanese GDP increased 0.9 per cent for the first quarter of 2013, beating the forecast of an increase of 0.7 per cent. The gain is being attributed to the rise in exports and to an increase in consumer … “Japanese Yen Remains Weak after GDP Reading”
Month: May 2013
Abenomics showing early success – Where next for USD/JPY
The Japanese economy enjoyed firm growth in the first quarter of 2013: 0.9%. This is the first full quarter under the government of Shinzo Abe, and just before the BOJ joined the party with the ambitious QE program presented in April. Will Japan take a break after this early success and refrain from pushing forward … “Abenomics showing early success – Where next for USD/JPY”
Chilean Peso Retreats on Fears of Intervention
The Chilean peso fell as signs of economic slowdown in the South American country fueled speculations that the central bank may ease its monetary policy to stem the currency’s strength. Chilean economic activity growth slowed to 3.1 percent in March from a year ago, slowest since July 2011. Copper, the major Chilean export, fell today. Rodrigo Vergara, the Governor of the Central Bank of Chile, said that the peso should not appreciate … “Chilean Peso Retreats on Fears of Intervention”
USD/CAD: Trading the Canadian CPI May 2013
Canadian Core CPI, is considered on of the most important inflation indicators. Core CPI excludes the most volatile items which are included in CPI, hence it is considered a more reliable measurement of inflation. A reading that is higher than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published … “USD/CAD: Trading the Canadian CPI May 2013”
Polish Zloty Drops as Inflation Slows
The Polish zloty weakened today as negative fundamentals, including slowing inflation, spurred speculations that the central bank will cut interest rates yet again. The Consumer Price Index rose 0.8 percent in April from a year ago, the slowest rate of growth since June 2006. It was the seventh straight month of slowing inflation. The current-account deficit was at â¬200 million in March, more than double the analysts forecast. The National … “Polish Zloty Drops as Inflation Slows”
Swiss Franc Gains Despite Falling Economic Expectations
The Swiss franc gained yesterday and remained little-changed today against the US dollar and the euro even as economic expectations were worsening. The currency traded sideways versus the Japanese yen. The ZEW-CS Indicator of economic expectations for Switzerland sank as much as 17.8 points to 2.2 in May. The report said that “last monthâs significant gains are lost and the indicator falls back to the level of March 2013”. Meanwhile, the Swiss Producer Price Index ticked up … “Swiss Franc Gains Despite Falling Economic Expectations”
CAD Gains vs. USD & EUR on Economic Data, Flat vs. JPY
The Canadian dollar gained against the euro and the US dollar as macroeconomic data from the eurozone and the United States was bad. The currency was flat versus the Japanese yen. US industrial production fell 0.5 percent in April after rising 0.3 percent in March. The Producer Price Index edged down 0.7 percent last month. The negative reports led to talks that the Federal Reserve will maintain its monetary stimulus. The news … “CAD Gains vs. USD & EUR on Economic Data, Flat vs. JPY”
Trading Performance being Hit by Lack of Server Knowledge
“A 5 millisecond server delay could cost a firm as much as 4 million USD every millisecond” Technology has long played an important role in Forex trading but it’s an area that is not only evolving at an incredible pace but also one that many traders are failing to get to grip with. Recent stories … “Trading Performance being Hit by Lack of Server Knowledge”
Stronger US Dollar Pushes Gold Prices Lower
The US dollar index is higher today, gaining ground as the greenback shows improvement against the euro. Even though the dollar is lower against some currencies, the greenback is showing overall strength, and that is pushing commodities like gold lower. Greenback is showing solid strength today, thanks in large part to the relative recovery of the US economy. Against the euro, especially following the latest GDP data out of Germany … “Stronger US Dollar Pushes Gold Prices Lower”
UK Pound Gets Boost from BOE Outlook
UK pound is gaining ground today, heading higher as the latest BOE economic outlook provides some hope for growth. Sterling is on the rise against most of its major counterparts due to the enthusiasm and expectations for the rest of the year. The Bank of England released its quarterly inflation report, and forecast that growth may increase to 0.5 per cent this quarter. This represents an increase from the 0.3 per cent growth seen … “UK Pound Gets Boost from BOE Outlook”