Today, the euro retained losses that it made yesterday as macroeconomic data from Germany disappointed Forex market participants, while the political situation in the country remained uncertain. The currency continued to rise versus the Great Britain pound. The Ifo Business Climate Index for industry and trade in Germany was at 107.7 in September, virtually unchanged from the August reading of 107.6. Economists have expected an increase to at least 108.4. Still, the data was not … “Euro Retains Losses on Germany”
Month: September 2013
New Zealand Dollar Retreats, Traders Near Pre-Fed Level
The New Zealand dollar slid sharply today as the market sentiment worsened, sending the currency to the level at which it has traded before the no-tampering decision of the Federal Reserve. The worsening risk sentiment hurt global stocks. The Standard and Poorâs 500 Index dropped 0.5 percent and the MSCI Asia Pacific Index of stocks went 0.6 percent yesterday. Some analysts say that the drop of the New Zealand currency will be short-lived, but … “New Zealand Dollar Retreats, Traders Near Pre-Fed Level”
Canadian Dollar Gets Boost from Retail Sales Data
Canadian dollar is getting a bit of a boost today from the latest retail sales data. While the loonie is struggling against some its major counterparts, overall, the Canadian dollar is seeing improvement today. Gains are somewhat limited, though, as commodity currencies face the reality of falling gold and oil prices. Loonie saw a small boost earlier today as retail sales data helped the currency against many if … “Canadian Dollar Gets Boost from Retail Sales Data”
Japanese Yen Retains Strength; More Stimulus Expected Later
Japanese yen is higher today, strengthening as Asian stocks weaken, and as Forex traders await more signs of stimulus from the Bank of Japan. While yen weakness is likely for the future, right now the currency is showing strength against its major counterparts. Japanese yen is showing strength today, weighing on Japanese stocks, whose shares are dropping. Over all, Japanese stocks are turning in a relatively strong … “Japanese Yen Retains Strength; More Stimulus Expected Later”
Franc Weakens as Jordan Reiterates Necessity of Currency Cap
The Swiss franc fell today after Swiss National Bank President Thomas Jordan yet again reminded about necessity to keep the currency ceiling as a measure to protect the economy. Jordan said yesterday: The cap was set at a level at which the franc was still highly valued. Today the franc is still a highly valued currency. The cap remains an indispensable tool of our monetary policy to limit downside risks. He also explained … “Franc Weakens as Jordan Reiterates Necessity of Currency Cap”
NZD/USD: Trading the New Zealand Trade Sep 2013
New Zealand Trade Balance is released every month, and provides an important snapshot at the health of the economy, in particular the export sector. A reading which is higher than the market forecast is bullish for the New Zealand dollar. Here are all the details, and 5 possible outcomes forNZD/USD. Published on Wednesday at 22:45 GMT. … “NZD/USD: Trading the New Zealand Trade Sep 2013”
EUR/USD: Trading the German IFO Sep 2013
The German Ifo Business Climate is a monthly composite index of about 7,000 businesses, which are surveyed about current business conditions and their expectations concerning economic performance over the next six months. A reading which his higher than the forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD.. … “EUR/USD: Trading the German IFO Sep 2013”
7 Things You Need to Master on Your Forex Demo Account
The Forex market is undoubtedly the most exciting market in the world, with high profit potential. However, if you are just beginning to trade currencies or planning to do so, it is an absolute must to learn how to trade using the best tool – a Forex Demo account. Most Forex brokers offer a free … “7 Things You Need to Master on Your Forex Demo Account”
US Dollar Index Looks for Direction
US dollar is mixed today, and the dollar index performance serves as an indication that there are some uncertainties surrounding the greenback in the wake of last week’s surprising FOMC decision. Right now, a number of currency pairs are rangebound, looking for direction and wondering what is likely to be next. A bit of uncertainty has crept into the markets today. China’s recent data is lackluster, and the US economic recovery doesn’t seem … “US Dollar Index Looks for Direction”
Latest Good News Doesn’t Help Euro
The latest good news out of the eurozone isn’t helping the 17-nation currency much against its counterparts today. Even though business activity has improved, and Angela Merkel easily won another term as Chancellor, the euro is struggling today. Business activity is on the rise in the eurozone. According to a report from Markit Economics, business activity, led by Germany, accelerated in the second quarter of 2013. This news brings business activity to a high … “Latest Good News Doesn’t Help Euro”