The Indian rupee fell to the record low today as speculations about possible quantitative easing tampering by the US Federal Reserve were hurting riskier currency of emerging markets. The Fed will release minutes of its last policy meeting today. Traders are concerned that the US central bank will reduce monetary stimulus as soon as the next month and this may lead to slowdown of US and global economic growth. The minutes may confirm … “Indian Rupee Falls to Record Low Ahead of Fed Minutes”
Month: August 2013
US Consumer Sentiment and Reality
July saw consumer confidence in the US at an-all high level, not seen since 2008. Some believed that to be a telling sign that consumer sentiment had gotten its head around the recovery and it was actually going to happen. This month, analysts had predicted a rise to 85.5 and it seemed like the only … “US Consumer Sentiment and Reality”
Time to take a look at the Indian Rupee
When there is blood on the streets, that’s the time to invest or as Warren Buffett says “Buy fear, sell greed” well perhaps it is time to take a closer look at the Indian Rupee. The currency has been in free fall since the start of the year as concerns about their budget deficit and … “Time to take a look at the Indian Rupee”
USD/JPY Could Reach 99.00 While 95.75 Holds – Elliott
USDJPY has made three waves of a pull-back from latest high that could be near completion as the price tested and already reversed from the very important 61.8% Fibonacci support level. We expect to see a move higher from here, ideally in an impulsive fashion back to 98.64. The reason for the bullish outlook is … “USD/JPY Could Reach 99.00 While 95.75 Holds – Elliott”
UK Housing Bubble Bungle
We normally learn from mistakes although historically even that statement should be a no-brainer since we never learn from them in fact and just repeat them constantly like new-born babies. Today, the UK is experiencing a 3.9%-growth rate in housing prices. Great? No, not so great. It smacks of the subprime crisis and that’s without … “UK Housing Bubble Bungle”
Over-Valued NZD Prevents RBNZ from Raising Interest Rates
The New Zealand dollar fell yesterday and extended the decline today as the head of the central bank said that concerns about over-valued currency prevent the bank from raising interest rates. Graeme Wheeler, Reserve Bank of New Zealand Governor, said yesterday: Our exchange rate is over-valued relative to what would be sustainable long-term in the absence of sizeable increases in our terms of trade and productivity. Earlier, he was talking about … “Over-Valued NZD Prevents RBNZ from Raising Interest Rates”
Norwegian Krone Drops on Slowing Growth, Recovers
The Norwegian krone was flat today after falling earlier as slowing economic growth made an interest rate cut from the central bank more likely. Such prospects hurt the currency, but it managed to recover as of now. Norwegian gross domestic product grew 0.2 percent in the second quarter of 2013, down from 0.6 percent in the previous quarter. The report frustrated analysts who have hoped for 0.7 percent growth. Norges … “Norwegian Krone Drops on Slowing Growth, Recovers”
AUD/USD: Trading the Chinese Flash PMI Aug 2013
Chinese Flash Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible … “AUD/USD: Trading the Chinese Flash PMI Aug 2013”
Will Social Trading Face Greater Regulatory Scrutiny?
Social Trading has been a huge growth area in recent years and anyone who actively follows developments in the industry will have noticed an increasing number of social trading platforms opening up shop. While many of the big players are regulated in one or more jurisdictions, some of the industry’s smaller players aren’t regulated at … “Will Social Trading Face Greater Regulatory Scrutiny?”
Euro Gains Ground As Forex Traders Square Positions
Euro is heading higher today, thanks in large part to position squaring. Many believe that the euro is poised to move higher, thanks to uncertainty wracking the United States and thanks to recent Bundesbank comments. Uncertainty in the United States is leading to demand for the euro. While there is still talk of tapering soon, many are starting to think the US economic recovery is still too sluggish to warrant an end to the tapering. … “Euro Gains Ground As Forex Traders Square Positions”