The Australian dollar dropped today, reaching the lowest level since 2010 against its US counterpart, as growth of housing loans slowed in April and trailed analysts’ forecasts. Australian dwelling finance commitments rose 0.8 percent in April from March, when growth was at 4.8 percent. The median forecast was at 2.1 percent. The Aussie, as the Australian currency is nicknamed, fell against other majors, including the yen, which was bolstered … “Aussie Drops as Growth of Home Loans Slow”
Month: June 2013
BoJ Leaves Monetary Policy Unchanged, Yen Jumps
The Japanese yen jumped today after the Bank of Japan left its monetary policy unchanged, refraining from additional stimulus and disappointing traders who have counted on more accommodative policy. The BoJ left both interest rates and the intended size of asset purchases unchanged at today’s meeting. Previously, policy makers were talking about stimulating economy and some market participants were frustrated by the lack of action from the central bank today. … “BoJ Leaves Monetary Policy Unchanged, Yen Jumps”
AUD/USD: Looking down at the next levels after the big
After AUD/USD lost critical support and reached a near 3 year low (see the 7 reasons for the Aussie crash), its next levels are those seen back in 2010. Here are the next levels to watch for. 0.9388 was not only the swing low of October 2011, but the pair also had trouble breaking above … “AUD/USD: Looking down at the next levels after the big”
CHF Strengthens vs. USD & JPY, Falls vs. EUR
The Swiss franc advanced versus the US dollar and the Japanese yen, but fell against the euro. Economic reports from Switzerland were mixed, not helping the currency to choose direction. Retail sales grew 3.3 percent in April, year-on-year. It was above the predicted increase of 2.5 percent and much better reading that the March’s drop by 0.8 percent. As for the bad news, the unemployment rate increase by 0.1 percentage point to 3.1 percent. … “CHF Strengthens vs. USD & JPY, Falls vs. EUR”
Canadian Housing Starts Beat Expectations, Loonie Rallies
The Canadian dollar rallied against its US peer and the Japanese yen today as housing starts outpaced investors’ expectations, adding to positive reports from Canada. The currency retreated against the euro. Canadian housing starts were at 200,178 units in May (seasonally adjusted), an increase from 175,922 in April. Analysts expected the starts to remain at the same rate as in April. The positive housing data followed the extremely good employment report, giving the loonie (as the Canadian … “Canadian Housing Starts Beat Expectations, Loonie Rallies”
QE tapering: June might be too early to adjust the
The Federal Reserve would not want to make a step forward with tapering only to be forced to step backwards by subsequent events, says Simon Smith of FxPro. He sees a better chance of a change in the statement only in July rather than in June. The question of QE tapering is one of the … “QE tapering: June might be too early to adjust the”
Japanese Yen Loses Ground as Nikkei Surges
Japanese yen is losing ground today, dropping against its major counterparts, as stimulus efforts boost the Nikkei, but weaken the currency. Earlier this year, the Bank of Japan announced an ambitious stimulus plan that involves doubling the monetary base. With the economy being flooded with yen, the currency has been weakening. Today all that weakness resulted in a surge for the Nikkei stock index. The Nikkei struggled a great deal … “Japanese Yen Loses Ground as Nikkei Surges”
US Dollar Index Higher to Start the Week
US dollar index is higher today. As the week begins, greenback is showing some strength, although it is lower against some individual currencies, like the euro. Dollar index is higher today, with the greenback mostly higher against its major counterparts, as Forex traders contemplate the possible end to quantitative easing. Nonfarm payrolls data showed a modest gain in jobs for May, and other signs that the US … “US Dollar Index Higher to Start the Week”
US Dollar Index Higher to Start the Week
US dollar index is higher today. As the week begins, greenback is showing some strength, although it is lower against some individual currencies, like the euro. Dollar index is higher today, with the greenback mostly higher against its major counterparts, as Forex traders contemplate the possible end to quantitative easing. Nonfarm payrolls data showed a modest gain in jobs for May, and other signs that the US … “US Dollar Index Higher to Start the Week”
FXTM Introduces Over-the-Weekend Forex Account
Cyprus based forex-broker Forex Time (FXTM) is launching a new service for those traders who cannot take a break from the markets during the weekend. Forex traders can enjoy swap-free trading from Monday to Friday until the end of August. FXTM launched back in February. For more details about this interesting offer, here is the official press release: Any … “FXTM Introduces Over-the-Weekend Forex Account”