Two major events for the US dollar will happen this week: the deadline for the US budget and non-farm payrolls. What outlook do analysts have for the greenback ahead of these events? Today is the last day for the US politicians to agree on the budget and it looks like the talks remained at a deadlock. The Congress still has a disagreement on President Barack Obamaâs healthcare law and it looks like the US government may face it first … “Dollar Ahead of US Government Shutdown”
Month: September 2013
Aussie Follows Kiwi in Gains
The Australian dollar followed its New Zealand counterpart to the upside even though economic data from China, the major Australia’s trading partner, was not particularly encouraging. The HSBC China Manufacturing Purchasing Managers’ Index was at 50.2 in September, according to the revised reading, broadly unchanged from 50.1 in August. The problem is that the final value was considerably lower than the preliminary estimate of 51.2. Yet the Aussie (as the Australian currency … “Aussie Follows Kiwi in Gains”
NZ Dollar Climbs, Supported by Domestic Fundamentals
The New Zealand dollar climbed today as domestic fundamentals were extremely good. The currency managed to post gains even as the market sentiment was rather pessimistic amid poor macroeconomic data from China and the budget standoff in the United States. Building permits advanced 1.4 percent in August on a seasonally adjusted basis, following the negatively revised July reading of -3.4 percent. The ANZ business confidence index climbed from 48.1 in August to 54.1 … “NZ Dollar Climbs, Supported by Domestic Fundamentals”
Japanese Yen Loses Ground After Earlier Jump
Japanese yen is losing ground today following an earlier jump. Yen saw gains earlier as risk aversion set in, but now the yen is losing ground to some of its major counterparts. Yen is even down against the US dollar. Yen got a boost earlier today, gaining ground as risk aversion due to the political situations in the United States and in the eurozone moved toward deterioration. Concerns about what’s … “Japanese Yen Loses Ground After Earlier Jump”
USDCHF: Looks To Weaken Further
USDCHF – With a follow through lower occurring the past week, further downside is likely in the new week. Immediate support lies at the 0.9000 level. Further down, support lies at the 0.8950 level with a turn below here leaving the pair targeting the 0.8900 level followed by the 0.8800 level. Its weekly RSI is … “USDCHF: Looks To Weaken Further”
Euro Struggles as Italian Politics Turn Ugly
Euro is struggling today as Italian politics turn ugly. The 17-nation currency is mostly lower today, dropping against most of its counterparts. The currency that isn’t gaining against the euro right now is the US dollar, which is facing political issues of its own right now. Political tensions ratcheted up another notch today with Silvio Berlusconi calling for new elections, and pulling his ministers … “Euro Struggles as Italian Politics Turn Ugly”
Don’t stay alone in forex – meet like minded people
Forex trading can certainly be a lonely trade. Yes, there are lots of resources online and also lots of forums and chat rooms. However, there is nothing like meeting someone who is also interested in forex face to face, and things become more fun when you have drinks with this person. This is now available … “Don’t stay alone in forex – meet like minded people”
EURUSD and German Dax and Could Turn Bullish Very Soon
The markets gaped on Sunday, particularly the EUR after five ministers in Berlusconi’s party have resigned from the government coalition. Stocks futures are also lower, but based on the German Dax wave structure and USD Index price action USD remains in downtrend while stocks could form a bullish reversal. Last week we posted a 4h … “EURUSD and German Dax and Could Turn Bullish Very Soon”
Debt-ceiling talks in the US, political crisis in Italy
Forex: Forex trading was sluggish during the past week, with the most popular EUR/USD pair reporting a modest one-pip change for the period – something quite rare. On the other hand, the GBP/USD chart movement was more significant, with the pair rising by 127 pips and closing at 1.6142 pips on Friday. Elsewhere, both the AUD/USD and USD/JPY registered declines by 95 and 110 … “Debt-ceiling talks in the US, political crisis in Italy”
GBP/USD: Trading the UK Manufacturing PMI September 2013
British Manufacturing PMI Index is based on a survey of Purchasing Managers in the manufacturing industry. The survey includes about 600 respondents, who are surveyed for their view of a wide range of business conditions, including employment, new orders, prices and inventories. A reading which is higher than the market forecast is bullish for the pound. Here are … “GBP/USD: Trading the UK Manufacturing PMI September 2013”