The Great Britain pound advanced today as UK manufacturing unexpectedly expanded last month, improving outlook for the nation’s economy and increasing attractiveness of the British currency. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose from 50.2 in April to 51.3 in May. It was the highest reading since March 2012. Analysts have expected that the gauge would stay unchanged. The expansion of manufacturing added to evidences that Britain’s economy is on track … “Pound Advances as Manufacturing PMI Unexpectedly Expands”
Month: June 2013
GBP/USD: Trading the British Construction PMI June 2013
The British Construction PMI Index is based on a survey of Purchasing Managers in the construction industry. The survey includes about 170 respondents, who are surveyed for their view of a wide range of business conditions, including employment, new orders, prices and inventories. A reading which is higher than the market forecast is bullish for … “GBP/USD: Trading the British Construction PMI June 2013”
Forex Crunch Key Metrics May 2013
The month of May saw a new record in page views for Forex Crunch: the site passed the half million mark for the first time. The volatility in USD/JPY and even more in AUD/USD certainly contributed to more interest. Will June see more volatility in EUR/USD as well? Here are the numbers: Page Views: 520,676. … “Forex Crunch Key Metrics May 2013”
Positive Fundamentals Did Not Help CAD This Week
The Canadian dollar fell against major currencies this week despite domestic fundamentals that were supportive for the currency. Mark Carney led his last meeting as Bank of Canada Governor, leaving the monetary policy unchanged and hinting that an interest rate cut is possible in the future. Such outlook boosted the loonie and fundamentals, including narrowing current account deficit, helped the currency too. Yet the Canadian dollar ended the week with … “Positive Fundamentals Did Not Help CAD This Week”
Personal Spending Deep Six’s Rally
On Friday a number of key economic reports came out that showed a very different picture of the US economy; that being Personal Spending and Personal Income. These are important in the United States as 70 % of this economy is driven by consumer spending. Businesses may do what they want and often do but … “Personal Spending Deep Six’s Rally”
Dollar Ends Week with Gains
The US dollar ended the week with gains as positive macroeconomic data supported expectations of an end to Federal Reserve’s quantitative easing. The gains were limited and the greenback fell versus the Japanese yen, though, as not all reports were good. The Michigan Sentiment Index rose from 76.4 in April to 84.5 in May, more than was expected. The Chicago Purchasing Managers’ Index jumped from 49.0 in April to 58.7 in May. Meanwhile, personal … “Dollar Ends Week with Gains”