The US dollar appreciated today as traders continued speculate that positive fundamentals will encourage the Federal Reserve to reduce pace of asset purchases despite poor non-farm payrolls. The currency weakened against the Japanese yen. Institute for Supply Management reported that non-manufacturing Purchasing Managers’ Index jumped from 52.2 percent in June to 56.0 percent in July, while the median forecast was at 53.2 percent. The US trade balance deficit shrank … “Dollar Gains as QE Reduction Speculations Do Not Recede”
Month: August 2013
EUR/USD: Trading the US Unemployment Claims Aug 2013
US Unemployment Claims is released weekly, and measures the number of people filing for unemployment for the first time. It is considered an important measure of the health and direction of the US economy. A reading which is higher than the market forecast is bullish for the euro. Here are all the details, and 5 … “EUR/USD: Trading the US Unemployment Claims Aug 2013”
AUD/USD: Trading the Australian jobs Aug 2013
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian jobs Aug 2013”
Economic Data Boosts Euro
Economic data is boosting the euro right now, providing the 17-nation currency with a little help against many of its counterparts. With better economic news pointing to eurozone recovery, the euro is getting a little help on the Forex market today. The eurozone’s 18-month recession might be coming to an end, and that is providing the euro with a bit of help today in Forex trading. The latest factory output data out of Germany … “Economic Data Boosts Euro”
Canadian Dollar Drops on Expectations for Employment Data
Canadian dollar is lower today, dropping against its major counterparts, as Forex traders look ahead to July’s employment data, which many expect to be somewhat disappointing. Following the US jobs report, which was weaker than expected, some believe that Canada’s jobs report for July, which will be released on August 9, will also be weaker than originally thought. The news that the Canadian … “Canadian Dollar Drops on Expectations for Employment Data”
Brazilian Real Drops to 4-Year Low, Fueling Inflation Concerns
The Brazilian real dropped today, touching the lowest level in four years. The drop caused concerns that weakening currency will boost inflation, which is already at the elevated level. The currency rebounded as of now. Analysts raised their 12-month inflation forecast from 5.83 percent to 5.93 percent as the real has dropped 13 percent last quarter. The central bank lifted the main interest rate last month to rein growth of consumer … “Brazilian Real Drops to 4-Year Low, Fueling Inflation Concerns”
Aussie Bounces Even as RBA Cuts Rates
The Australian dollar climbed today even though the central bank cut interest rates. The statement was less dovish than usual, allowing the currency to bounce, while positive economic data added to the strength of the Aussie. The Reserve Bank of Australia cut its main interest rate by 25 basis points to 2.5 percent as was widely expected. Yet the Aussie rose as the bank dropped the wording “the inflation outlook could provide some scope … “Aussie Bounces Even as RBA Cuts Rates”
GBPUSD: Sets Up To Recapture The 1.5434 Level
GBPUSD: With a two-day rally seeing the pair turning further higher, more upside offensive is likely. This development leaves GBP targeting the 1.5434 level where a breach will resume its short term uptrend. Further out, resistance stands at the 1.5500 level where a violation will aim at the 1.5550 level. Its daily RSI is bullish … “GBPUSD: Sets Up To Recapture The 1.5434 Level”
Weakening Aussie Dollar Offers Silver Lining Amidst Ashes Humbling
As Australia faces the ignominy of failing to win an Ashes series for the third time in a row their currency is going a similar way to their cricket team as Australian Dollar (AUD) fell to a fresh three-year low on Monday. The English weather put a final dampener on Australian hopes of regaining the … “Weakening Aussie Dollar Offers Silver Lining Amidst Ashes Humbling”
Has the Australian dollar bottomed after this year’s sharp
Australia’s central bank cut its benchmark interest rate to a new record low earlier today, in an attempt to spur economic growth and boost the Australian economy which has been severely hit by the slump in commodity price and reliance on China. The Reserve Bank of Australia (RBA) cut its key rate to 2.5% from … “Has the Australian dollar bottomed after this year’s sharp”