The National Bank of Poland cut interest rates earlier this week, surprising Forex market participants. The Polish zloty remained strong even after the unfavorable policy decision. The NBP slashed its main interest rate by 0.25 percentage point to 3 percent on May 8. The central bank noted that economic activity was weak both in Poland and across the world, expressing concern that recession in the eurozone continued. The statement, which … “Polish Zloty Remains Firm After Interest Rate Cut”
Month: May 2013
Pound Weak vs. Dollar Even as BoE Maintains Monetary Policy Stable
The Great Britain pound fell against the US dollar today even as the Bank of England maintained the monetary policy the same, refraining from additional easing. The currency rose against the euro and the Japanese yen though. The BoE kept its benchmark Bank Rate at 0.5 percent and the asset purchase program at £375 billion at today’s meeting. Such decision was anticipated by market participants. The behavior of the pound against the dollar was less predictable though. … “Pound Weak vs. Dollar Even as BoE Maintains Monetary Policy Stable”
US Dollar Strengthens on Unexpected Jobless Claims Data
US dollar is showing strength today, heading higher as Forex traders look to the improving economic situation. When compared to other economies, the US economy is looking pretty good, and that is helping the greenback against its major counterparts today. The latest initial unemployment claims data in the United States indicates that 4,000 fewer people are applying for aid. Even with the budget sequester on, the economy appears … “US Dollar Strengthens on Unexpected Jobless Claims Data”
Japanese Yen Mostly Weaker
Japanese yen is mostly weaker today, dropping as the prospects of long-term weakness weigh on the Asian currency. With a plan in place to boost the monetary base, and with no one in the G-20 trying to rein in Japan, it looks as there is a clear field for yen weakness. Once again, there is talk that the US dollar will hit the 100-yen level. However, that is unlikely today. Even though the US dollar … “Japanese Yen Mostly Weaker”
iFXEXPO: FXstreet.com to be a media sponsor
FXstreet, one of the largest forex portals, will be a media partner of the iFXEXPO International in Cyprus at the end of May. This is not the first time that FXstreet is collaborating with these events. Alba Bringues, Key Accounts Manager, and Colm Mullan, Sales Manager, will be there at booth 57. For more details, … “iFXEXPO: FXstreet.com to be a media sponsor”
Australia Adds Jobs, Aussie Surges
New Zealand was not the only country to add jobs as Australia also pleasantly surprised Forex traders with improving employment and an unexpected drop of the unemployment rate. Australian employment grew by 50,100 in April on a seasonally adjusted basis, compared to the forecast of 11,500. Employment contracted by 31,100 in March. The unemployment rate unexpectedly ticked down by 0.1 percentage point to 5.5 percent. Investors trimmed their bets on an interest rate cut from the Reserve … “Australia Adds Jobs, Aussie Surges”
NZ Dollar Jumps as Employers Add Jobs & Unemployment Falls
The New Zealand dollar climbed today after country’s employers added more jobs than was expected. Moreover, the unemployment rate demonstrated huge (and unexpected) drop. New Zealand employment grew 1.7 percent in the first quarter of 2013 from the previous three months, when it fell 0.9 percent. The median forecast was at 1.1 percent. Unemployment fell from 6.8 percent to 6.2 percent even as analysts have expected … “NZ Dollar Jumps as Employers Add Jobs & Unemployment Falls”
USD/CAD: Trading the Canadian May 2013
Canadian Employment Change is a leading indicator which provides important data about the employment market. A reading which is higher than the market forecast is bullish for the loonie. Here are the details and 5 possible outcomes for USD/CAD. Published on Friday at 12:30 GMT. Indicator Background Employment Change is one of the most important economic indicators, and this … “USD/CAD: Trading the Canadian May 2013”
CAD Gains on USD, Weakens vs. EUR
The Canadian dollar advanced against its US peer today as metal prices surged, increasing the appeal of the currency related to commodities. At the same time, the loonie went down against the euro on slowing housing in Canada. Metals gained today, increasing the attractiveness of commodity currencies. Gold futures jumped as much as 1.69 percent to $1,473.30 per troy ounce on COMEX today. Copper advanced 1.95 percent to 3.3670 per pound. Domestic fundamentals were … “CAD Gains on USD, Weakens vs. EUR”
Pound Gains Ahead of BoE Meeting
The Great Britain pound advanced today on speculations that the recent string of positive reports will encourage the Bank of England to refrain from adding to monetary stimulus on tomorrow’s meeting. The currency went down against the euro. The BoE will conduct its policy meeting on May 9. Analysts expect no changes to the policy. The recent data suggested that the economic situation in the United Kingdom is changing, making it prudent for the central bank … “Pound Gains Ahead of BoE Meeting”