The Great Britain pound advanced today as macroeconomic reports from the United Kingdom were positive yet again. The employment data was especially good, adding to evidences that economic recovery is gaining momentum. The number of people claiming Jobseekerâs Allowance fell by 32,600 in August, outpacing the forecast of 21,200. The unemployment rate unexpectedly dipped by 0.1 percentage point to 7.7 percent in August. The Conference Board Leading Index rose by 0.7 percent … “Employment Data Adds to Strength of Sterling”
Month: September 2013
Why is the Euro above $1.32?
The Euro has had a tremendous run from early July rising from 1.28 to the current level of 1.33. The currency has been boosted by better recovery prospects. European equities have recovered as the region ended its 18 month recession in the second quarter posting growth of 0.3 per cent. There have been encouraging economic … “Why is the Euro above $1.32?”
FX Trading Rises to $5.3 Trillion per day in April 2013
Regular central bank surveys can often shed increased light on developing situations in the forex market. A recent study by the BIS in their Triennial Central Bank survey, has pointed out a few different items of interest. Forex trading has climbed to an average of $5.3 trillion in transactions per day in April 2013. The most … “FX Trading Rises to $5.3 Trillion per day in April 2013”
EUR/GBP outlook remains bearish as the Euro-zone’s recovery is
The pound is having a great run in the market. For the past month positive data has been coming out of the UK and it looks promising. Thursday proved to be a busy day for both the pound and the euro. The BoE had a base rate decision, the ECB had a press conference and … “EUR/GBP outlook remains bearish as the Euro-zone’s recovery is”
AUD/USD: Trading the Australian jobs Sep 2013
Australian Employment Change, released monthly, is an important leading indicator which often has a significant impact on the markets. Employment figures are important as they provide a snapshot of the health of the economy. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 … “AUD/USD: Trading the Australian jobs Sep 2013”
US Dollar Weakens, But Not as Much as Expected
Markets are clearly risk on today, but the US dollar isn’t weakening quite as much as expected. While the dollar is slightly lower against some of its major counterparts, the performance isn’t enough to sink the dollar index yet. Even with the risk appetite, there is still some dollar strength. The latest news out of China and Syria is helping to promote a bit of a risk on environment in the markets today. Stock markets … “US Dollar Weakens, But Not as Much as Expected”
Indonesian Rupiah Depreciates, Central Bank Does Not Intervene
The Indonesian rupiah declined today, demonstrating the biggest drop in almost six years, on speculations that the central bank does not do enough to prevent currency’s depreciation. Indonesian President Susilo Bambang Yudhoyono said today: We need to keep the rupiah exchange rate against the dollar from weakening further. For now, the Bank Indonesia did not act to stop further depreciation. The rupiah plunged as much as 3.2 percent to 11,515 per … “Indonesian Rupiah Depreciates, Central Bank Does Not Intervene”
UK Pound Remains Strong Against Its Major Counterparts
Sterling is higher against its major counterparts again today, getting a boost from the fact that it seems as though the UK economy is on the road to recovery. There is optimism about what will be said by policymakers about their forward guidance, and there are expectations that things will continue to improve. Economic news out of the United Kingdom has been reasonably positive lately. It has … “UK Pound Remains Strong Against Its Major Counterparts”
Yen Drops on BoJ Minutes & Easing Concerns for Syria
The Japanese yen fell today after the Bank of Japan released the minutes of its August policy meeting and as tensions about the situation in Syria eased, reducing demand for safe assets. The Bank of Japan released the minutes of the meeting that was held on August 7–8. The minutes said: Some members pointed out that there was a wider range of positive movements that made use of accommodative financial conditions, as evidenced, for example, by the recent developments … “Yen Drops on BoJ Minutes & Easing Concerns for Syria”
GBP/USD: Trading the UK Claimant Count September 2013
The UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. Along with the Unemployment Rate, which is released at the same time, it provides a snapshot of the UK employment sector. A reading which is better than the estimate is bullish for the pound. Here are the details and … “GBP/USD: Trading the UK Claimant Count September 2013”