Eurozone unemployment levels are hitting new records whilst inflation is softening and with much of the continent mired in an economic depression hopes are running high that the European Central Bank will cut interest rates. Even if it did it would only be a symbolic gesture, but one that forex markets would pay close attention … “ECB disappointment could see EUR/USD move higher”
Month: May 2013
US Dollar Weakens on Fed, ADP Report
US dollar is weakening today, heading lower on the latest expectations for the US economy. The latest ADP report, along with expectations that the Fed will continue its asset purchase program, are contributing to dollar weakness. Worries about a soft patch for the US economy are weighing on the dollar today. The latest ADP report, highlighting jobs in the private sector, came in below expectations for April, with the economy only adding 119,000 … “US Dollar Weakens on Fed, ADP Report”
Euro Retains Strength against US Dollar
Euro is retaining its strength against the US dollar, even with concerns about Cyprus and rising unemployment. Worries about what’s next for the eurozone are being brushed off to some extent, while economic difficulties in the United States keep the dollar down. Speculations of a coming ECB rate cut are being brushed off by many Forex traders as they push EUR/USD up near the 1.3200 level. This level … “Euro Retains Strength against US Dollar”
US data could have been worse – dollar recovers
The ISM manufacturing PMI stands at 50.7 points, within expectations that stood on 50.9. Also the final figure from Markit didn’t disappoint and remained at growth territory, above 50. This helped the dollar recover: EURUSD fell below 1.32 after the break higher seen earlier in the day. The markets already got used to bigger disappointments. … “US data could have been worse – dollar recovers”
NZ Dollar Maintains Gains on Fed even as China’s Manufacturing PMI Falls
The New Zealand dollar gained today on hopes that the Federal Reserve will confirm that quantitative easing stays in place. The currency maintained gains even as China’s manufacturing growth slowed. China’s manufacturing Purchasing Managers’ Index fell from 50.9 in March to 50.6 in April, while analysts have predicted it to remain near the previous level. The index still points on expansion, unlike in some developed nations, making the data not … “NZ Dollar Maintains Gains on Fed even as China’s Manufacturing PMI Falls”
Sterling Rallies as Drop of Manufacturing Smaller Than Predicted
The Great Britain pound rallied today even as data showed that manufacturing shrank last month. The good part of the report was that the sector’s decline was smaller than anticipated by analysts. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose from 48.6 in March to 49.8 in April, while specialists have expected it to stay unchanged. The data was not good, strictly speaking, as the reading below 50.0 indicated contraction … “Sterling Rallies as Drop of Manufacturing Smaller Than Predicted”
Forex Crunch Key Metrics April 2013
After a record month in March, April saw traffic that was lower than the record, but still very high in comparison to all the previous months. Some pairs such as the popular EUR/USD saw lower volatility. The numbers: Page Views: 434,346. Visits: 183,338. Visitors: 68,183. Time on Site: 2:53. Average Pageviews/Visit: 2.37. Bounce Rate: 50.63% … “Forex Crunch Key Metrics April 2013”
CAD Gains on USD, Weak vs. JPY
The Canadian dollar rose against its US peer today, extending the rally for the fifth consecutive session, and gained on the euro. The currency dropped against the Japanese yen. Canada’s gross domestic product expanded 0.3 percent in February, with the same rate as in prior month. Analysts have expected somewhat slower growth by 0.2 percent. Other data was less favorable. The Raw Materials Price Index fell 1.7 percent in March, led … “CAD Gains on USD, Weak vs. JPY”