The New Zealand dollar reached a lowest level in a year against its US peer today as nation’s economic growth slowed last quarter more than was expected. The currency managed to rise against the Japanese yen though. New Zealand’s gross domestic product expanded 0.3 percent in the first quarter of 2013, with much slower rate of growth than the previous quarter’s 1.5 percent. Analysts have hoped for an increase by at least … “NZD/USD Sinks as New Zealand GDP Trails Forecast”
Month: June 2013
EUR/USD, Gold Lower After Bernanke – Elliott Wave Analysis
The European stock market is sharply lower today following yesterday sell-off on US equities after Ben Bernanke said that if the economy continues to improve, it could start to wind down its $85 billion a month asset-purchasing program towards the end of 2013 and end it in 2014. Metals are moving sharply lower, with gold … “EUR/USD, Gold Lower After Bernanke – Elliott Wave Analysis”
Swedish Krona Falls Despite Good Macroeconomic Indicators
The Swedish krone fell today even though macroeconomic indicators showed that the nation’s economy is improving, reducing chances for an interest rate cut by the Riksbank. Statistics Sweden reported that the unemployment rate fell from 8.7 in April to 8.2 percent in May. According to the National Institute of Economic Research, the consumer confidence index rose from 97.7 last month to 98.2 in June. Confidence in most other sectors, including manufacturing, also … “Swedish Krona Falls Despite Good Macroeconomic Indicators”
EUR Loses to USD After Fed Meeting, Firm Against Other Majors
The euro slumped against the US dollar as Federal Reserve Chairman Ben Bernanke said that the central bank will likely reduce stimulus by the end of the year. The currency was firm against some other majors, including the Great Britain pound and the Japanese yen. The Federal Open Market Committee left its monetary policy unchanged today, but said: The committee sees downside the risks to the outlook for the economy and the labor market as having diminished … “EUR Loses to USD After Fed Meeting, Firm Against Other Majors”
Hawkish FOMC Statement Leads to Market Sell-Off
The FOMC monetary policy announcement and subsequent press conference from Chairman Bernanke took place earlier this afternoon, and has led to a sharp turnaround in risk appetite, as investors shed exposure to high-yielding asset classes. The statement from the FOMC was a little more positive on the US economy back in May, with the committee … “Hawkish FOMC Statement Leads to Market Sell-Off “
US Dollar Lower on Speculation that QE Will Continue
Greenback is lower today, struggling as Forex traders await the outcome of the two-day Federal Reserve policy meeting underway right now. Right now, there is speculation that quantitative easing will continue, and that is undermining the US dollar. One of the questions that many investors, Forex traders, and even “regular” folks want answered is this: When does the Federal Reserve plan to taper off its asset … “US Dollar Lower on Speculation that QE Will Continue”
UK Pound Gets Boost on Prospect to Reduce Easing
Votes to avoid an increase in the Bank of England’s asset buying program are providing support for the pound today. Pound is modestly higher against the US dollar, and the currency has broken a recent losing streak against the euro. As more members of the MPC decide against quantitative easing, the sterling is likely to gain some strength. UK pound broke a two-day loss to the euro today as Forex traders anticipate an end to quantitative easing. Once … “UK Pound Gets Boost on Prospect to Reduce Easing”
Aussie Rises with Leading Indicators
The Australian dollar rallied against its US peer as the nation’s leading indicators rose, reducing incentive for the Reserve Bank of Australia to cut interest rates further. The Conference Board Leading Index rose 0.3 percent in April after rising 0.1 percent in the previous month. The Aussie (as the Australian currency is nicknamed) advanced versus the greenback, but remained a bit soft against the yen, showing the same behavior as its New Zealand counterpart. … “Aussie Rises with Leading Indicators”
NZD Rises vs. USD as Current-Account Deficit Narrows
The New Zealand dollar rose against its US counterpart, but fell versus the Japanese yen today after data showed that the nation’s current-account deficit narrowed last quarter. The moves were not big as the market is quiet ahead of the Federal Reserve policy decision. The New Zealand current-account gap shrank NZ$0.3 billion to NZ$2.2 billion in the first quarter of 2013 from the previous three months. Still, prospects from … “NZD Rises vs. USD as Current-Account Deficit Narrows”
Forex Crunch mentioned in Top 100 Forex Blogs to Follow
Forex Crunch was mentioned in a list that ranked the top 100 forex blogs to follow in 2013. You can see the mention at No. 9. The infographic by the team at CouponAudit is no longer available. .