I recall back in the late 1990’s when we experienced a phenomenon called the “Asian Flu”. This was because the Russian Financial System collapsed and the ruble was devalued. This effect had ramifications not only on Russia but Asia and then the United States. However it didn’t affect the US dramatically as the United States … “Asian Contagion?”
Month: June 2013
Positive Data Helps the US Dollar
Positive economic data is helping the US dollar today. Forex traders can compare the situation in the eurozone with that in the United States, and see a contrast. As a result, the greenback is getting a little help today. After a few days of thin economic data, two key bits of data were released today, helping the greenback on the Forex market. The data points to an improving economy, and that is providing a boost for the US dollar. First … “Positive Data Helps the US Dollar”
Euro Struggles as German Arguments, Bank Plans Gain Prominence
Euro is struggling today with everything that is happening in the eurozone right now. There’s a great deal of uncertainty, and a lot happening related to bailout efforts and plans to keep the euro solvent. German arguments before the Federal Constitutional Court pit Angela Merkel‘s government in opposition to the Bundesbank head Jens Weidmann. Merkel is on the side of the ECB’s European Stability Mechanism, and willing to use German taxpayer dollars to bailout other countries … “Euro Struggles as German Arguments, Bank Plans Gain Prominence”
NZ Dollar Weaker After RBNZ Meeting
The New Zealand dollar dropped today after the Reserve Bank of New Zealand maintained interest rates unchanged and suggested that it may intervene to weaken the currency. The currency erased the drop against the US dollar, but remained soft versus the Japanese yen. The RBNZ left its main interest rate at 2.5 percent today. Governor Graeme Wheeler said in the accompanying statement: Despite having fallen over the past few weeks, … “NZ Dollar Weaker After RBNZ Meeting”
Yuan Falls as World Bank Lowers Growth Projection
The Chinese yuan fell today as the World Bank reduced its projections for global growth. The previous data from China did not help the currency either. The World Bank lowered its estimate for this year’s growth of the global economy to 2.2 percent from the previous figure of 2.4 percent. In China, a “weak 7.7 percent growth” is expected, which should accelerate to 8 percent next year. Morgan Stanley reduced its … “Yuan Falls as World Bank Lowers Growth Projection”
Leverate steps into the big Japanese forex market
Leverate, the software provider for forex brokers, is expanding and taking a big step diving into the Japanese forex market. Kazuo Anzai will run the Japanese operation. He has previously been with Alpari Japan. This is Leverate’s 4th global office. Leverate recently launched its FXPN network for binary options. For more on the move into Japan, … “Leverate steps into the big Japanese forex market”
EUR/USD:Trading the UOM – June 2013
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. Consumer confidence leads to more spending, which is an critical component in economic growth. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 13:55 GMT. Indicator Background The University of Michigan Consumer Sentiment Index, … “EUR/USD:Trading the UOM – June 2013”
EUR/USD At Temporary Resistance; Be Aware Of Reversal
USD extended its losses since yesterday when the US stock market turned sharply lower with the Dow Jones Industrial Average down three days in a row for the first time this year. Correlation between the markets remains unchanged; USDJPY and other yen crosses are tracking the stock market, while EURUSD and other XXX/USD pairs are … “EUR/USD At Temporary Resistance; Be Aware Of Reversal”
Positive Fundamentals Do Not Support Loonie
The Canadian dollar dropped today against other most-traded currencies even though fundamentals were supportive for the loonie. Earlier, the Canadian currency advanced against the US dollar and the euro, but erased its gains later. One of the reasons for the drop of CAD could be concerns that central banks across the world will stop introducing stimulating measures. USD dropped despite speculations about an end to quantitative easing, but still managed … “Positive Fundamentals Do Not Support Loonie”
Dollar Falls as Traders Still Anticipate End of QE
The US dollar fell today as Forex market participants continued to anticipate that the Federal Reserve will tamper its stimulus program amid signs of recovery. The Dollar Index dropped 0.4 percent to 80.827. It was the lowest level on a closing basis since February 19. Some analysts point out that employment growth is not stable enough to consider the recovery to be possible even without stimulus. Yet most … “Dollar Falls as Traders Still Anticipate End of QE”