Canadian dollar is falling behind today, losing ground as the US economy begins to outpace Canada’s Economy. With data favoring the United States, Canada is falling behind, and that is reflected in the loonie’s performance in trading. The Canadian dollar hit a low not seen for 20 months ahead of the release of US manufacturing data. With manufacturing and construction data showing improvement in the United States, it offers a sharp contrast to Canadian … “Loonie Falls Behind as the US Economy Outpaces Canada’s Economy”
Month: July 2013
Softer Yen as US Data, Nikkei Improve
Japanese yen is softer today, losing ground against its major peers, thanks to the latest economic data from the United States and to a surging Nikkei index. Today, the Japanese yen is heading lower against its major counterparts as the need for safe haven diminishes, and as other forces take hold. The Nikkei is back above the 14,000 level for the first time in five weeks, and better economic data out of the United States … “Softer Yen as US Data, Nikkei Improve”
BOE could release a statement that will reveal Carney’s
While the case for more QE in the UK has weakened, we could get a statement from the BOE, such that will provide us with the new governor’s way of thinking, says Simon Smith of FxPro. Mark Carney cut the rates on his first meeting as the head of the Bank of Canada. In the interview … “BOE could release a statement that will reveal Carney’s”
EUR/USD Could Reach 1.2750 – Elliott Wave Analysis
EURUSD made three legs up from the 1.2750 low to 1.3420 which we believe represents a corrective, contra-trend price action within a larger downtrend. We are talking about a blue wave (2) which is showing signs of completion around 1.3420 level after sharp decline in the last two weeks which is an impulsive move. As … “EUR/USD Could Reach 1.2750 – Elliott Wave Analysis”
Aussie Retreats as Traders Wait for RBA Decision
The Australian dollar backed off today after rallying yesterday. The currency gained strength from the Chinese manufacturing data, but retreated as traders wait for the policy decision of the Australian central bank. China is the major trading partner of Australia, therefore good news from the Asian country usually helps the Aussie (as the Australian currency is nicknamed). The manufacturing data released on Monday was not completely positive strictly speaking, but helped … “Aussie Retreats as Traders Wait for RBA Decision”
GBP Firm vs. USD & JPY on Manufacturing
The Great Brian pound rose against the US dollar and the Japanese yen yesterday and kept the gains today as the manufacturing sector expanded last month with faster pace than was expected. The currency remained soft versus the euro. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose from 51.5 in May to 52.5 in June. The reading was well above the predicted 51.3 and it was the highest in 25 months. A value above 50.0 … “GBP Firm vs. USD & JPY on Manufacturing”
USD/JPY: Trading the ISM Services PMI Jul 2013
ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 possible … “USD/JPY: Trading the ISM Services PMI Jul 2013”
US Dollar a Little Weaker on Risk Appetite
US dollar is a little weaker today, heading mostly lower against its major counterparts as risk appetite sends Forex traders looking for higher yields. Greenback is a little lower today, dropping a bit as risk appetite takes over. Riskier assets, including stocks, are heading higher today as enthusiasm is the story of the day. Even though there was weakness and uncertainty last week, many investors and Forex … “US Dollar a Little Weaker on Risk Appetite”
IG adds MetaTrader 4 to its portfolio
Forex broker IG is announcing the addition of MetaTrader 4, one of the most popular trading platforms, to its portfolio of services. For more details, here is the official press release: IG, the UK’s largest retail forex provider*, is adding MetaTrader 4 (MT4), the popular electronic trading platform, to its wide portfolio of services Trading … “IG adds MetaTrader 4 to its portfolio”
Eurozone Unemployment Rises, but Euro Heads Higher Anyway
The latest economic data out of the eurozone, showing that unemployment rose for yet another month, doesn’t seem to be slowing the euro down much in trading. The 17-nation currency is gaining against its major counterparts, thanks in large part to the risk appetite that seems to be showing as we kick off a new month, and the start of the second half of the year. Once again, the eurozone unemployment rate is on the rise. Eurostat reports … “Eurozone Unemployment Rises, but Euro Heads Higher Anyway”