The Japanese yen was rising today ahead of this week’s policy meeting as traders believed that the central bank will keep monetary policy unchanged. The currency lost gains after leading indicators fell more than was expected. The Bank of Japan will announce its policy decision on August 8 and most economists think that no changes to monetary policy will be made. The TOPIX index of stocks fell … “Yen Erases Gains on Leading Indicators”
Month: August 2013
Positive UK Economic Data Makes Pound Stronger
The Great Britain pound rose against the US dollar and the euro yesterday and kept most of its gains today as macroeconomic reports were very good. The currency lost to the Japanese yen despite the good fundamentals. The Markit/CIPS UK Services Purchasing Managers’ Index demonstrated a huge jump from 56.9 to 60.2 in July. It was the highest reading since December 2006. British Retail Consortium reported that UK retail sales values … “Positive UK Economic Data Makes Pound Stronger”
Another Week of Weakness for Aussie?
The Australian dollar fell sharply last week, touching the lowest level in 3 years against its US counterpart. Will the slide continue or the currency has found its bottom? Tomorrow’s meeting of Australian policy makers may give an answer to this question. The Aussie (as the Australian currency is nicknamed) started this week poorly. There will be several important events over the week and some of them promise even more … “Another Week of Weakness for Aussie?”
US Dollar Trims Declines on Better Economic News
US dollar is paring some of its earlier losses against some of its counterparts on the latest economic news to be released. Many Forex traders are looking for direction, and taking this opportunity to mull the latest news from around the world. Greenback was lower earlier, but it is trimming its recent declines right now. Indeed, the US dollar is higher against the euro and the loonie, even as it … “US Dollar Trims Declines on Better Economic News”
Euro Falls on Retail Sales Data
Euro is lower today, in spite of recent indications of stability, on the latest of retail sales data. Even though there are hopes that the economic contraction is over for the eurozone, there are still concerns about a slow recovery. The latest retail sales data is sending the euro down against its major counter parts today. Eurostat is reporting that June retail sales were down 0.5 per … “Euro Falls on Retail Sales Data”
MahiFX Launches MetaTrader 4 Platform Offering
The popular MetaTrader 4 platform is coming to MahiFX. The New Zealand based forex broker now offers MT4 alongside its proprietary platform. The same execution and spreads will be available on both platforms. MahiFX recently presented new, simple trade view features. Here are more details about the MT4 launch: LONDON, 05 August 2013 – MahiFX, the … “MahiFX Launches MetaTrader 4 Platform Offering”
OANDA Adopts the “Apple Model” with Partners
OANDA recently partnered with Autochartist and enables automatic technical analysis and more partnerships are underway. OANDA’s approach to these partnerships are more similar to Apple’s iStore than Google’s Android: a careful, calculated and well verified approach. I had the chance to speak with Trevor Young, Vice President, Product Management at OANDA for a chat about technology, new directions … “OANDA Adopts the “Apple Model” with Partners”
Sell EUR rallies against USD and GBP
UK services PMI came in much better than expected and rose above 60 for the first time in over 6 years. The UK economy is certainly performing much better than expected and data out today will enhance future UK GDP growth. As soon as the data was announced Sterling rose sharply and has continued to … “Sell EUR rallies against USD and GBP”
Aussie Soft Ahead of RBA Meeting as Retail Sales Trail Forecast
The Australian dollar was soft today ahead of tomorrow’s Reserve Bank of Australia policy meeting as retail sales trailed forecasts, adding to speculations that the central bank will cut interest rates. Most analysts believe that the RBA will maintain borrowing costs stable, but some market participants bet that the central bank will perform a rate cut. Retail sales were unchanged in June on a seasonally adjusted basis, … “Aussie Soft Ahead of RBA Meeting as Retail Sales Trail Forecast”
NZ Dollar Opens Sharply Lower as China Bans Imports from Fonterra
The New Zealand dollar was rising today, but this should not deceive traders as the currency opened sharply lower after China and Russia banned imports of milk powder from Fonterra Cooperative Group Ltd. Fonterra reported on the weekend that a rare bacteria that may cause botulism was found in a whey protein made at a New Zealand plant last year. This announcement caused bans of Fonterra products in China … “NZ Dollar Opens Sharply Lower as China Bans Imports from Fonterra”