EURUSD: The pair may have closed marginally lower the past week but continues to hold on to its medium term uptrend. This suggests further upside is likely on ending its past week bear threats. Risk of a return to the 1.3645/1.3700 levels remains. Further out, resistance resides at the 1.3800 level followed by the 1.3850 … “EUR/USD: Outlook Higher Despite Pull Back Attempts”
Month: October 2013
Is the GOP the Party of Bipolar?
During this latest calamity that the United States is facing with the debt ceiling, I’ve noticed some very interesting comments coming out of the right wing. Now they are convinced that the debt ceiling is no big deal. I’ve heard comments like “the debt ceiling, it’s no big deal; we’ve got the money to pay … “Is the GOP the Party of Bipolar?”
Second Weekly Loss of Sterling on Poor Fundamentals
The Great Britain pound extended its decline this week as macroeconomic data became significantly less positive than it was before. Poor fundamentals led to the second weekly decline of the currency against the US dollar and the euro. The Japanese yen was even weaker than the sterling and fell versus Britain’s currency. The stream of positive reports from the United Kingdom ended, removing support for the sterling. Manufacturing productions was especially bad, … “Second Weekly Loss of Sterling on Poor Fundamentals”
Dollar Ends Friday Mixed
The US dollar ended the last trading session of this week mixed as uncertainty about the outcome of the US budget stalemate led to unpredictable behavior of currencies. US politician were discussing a temporary increase of a debt ceiling to have more time for reaching consensus over the budget. The deal was not yet made, but may be introduced during the weekend. An end to the budget impasse may create huge volatility on the Forex market as official … “Dollar Ends Friday Mixed”
Canadian Dollar Closes Higher as Unemployment Rate Drops
The Canadian dollar closed higher on Friday as the unemployment rate unexpectedly fell. Employment growth trailed forecasts, but it did not prevent the currency from rallying. Canadian employment grew by 11,900 jobs in September from August when it surged 59,200. Analysts have hoped for growth by 15,300. The unemployment rate unexpectedly dropped from 7.1 percent to 6.9 percent. The data coupled with the signs of improvement in the US fiscal situation … “Canadian Dollar Closes Higher as Unemployment Rate Drops”
Indian Rupee Higher on Hopes for Inflows & Smaller Current-Account Gap
The Indian rupee rose today on hopes that policy maker will be able to reduce the nation’s current-account deficit and attract additional inflows into the country’s economy. Chakravarthy Rangarajan, chairman of the Prime Ministerâs Economic Advisory Council, said earlier this week that the current-account deficit may be 14 percent below the Finance Ministry’s target by March 2014. The trade balance deficit shrank to the lowest level since March 2011 … “Indian Rupee Higher on Hopes for Inflows & Smaller Current-Account Gap”
US Dollar Index could turn lower – Elliott Wave Analysis
A few days back we published an article where we highlighted that we anticipate a rally on the USD index in a minimum of three waves back to 80.73. In the next video we will look at some evidence and reasons why we turned bullish on the USD, and where prices could go from here. More … “US Dollar Index could turn lower – Elliott Wave Analysis”
UK Pound Drops on More Disappointing Economic Data
UK pound is heading lower today, dropping as additional disappointing economic data comes in. This time, it’s construction declines weighing on the British currency. Concerns about the economic recovery in the United Kingdom are sending the pound lower today, even though sterling saw some progress earlier. Good news coming out of the United Kingdom was mostly priced in, so the latest construction data was particularly … “UK Pound Drops on More Disappointing Economic Data”
Euro Heads Higher Against Major Counterparts US Agreement Nears
Euro is heading higher today, thanks in part to expectations of a debt deal in the United States, and in spite of continued questions about the eurozone economic recovery. Euro is gaining against its major counterparts as a bit of risk aversion makes an appearance on the markets. Many markets are in a bit of a wait and see mode as traders await news of a government shutdown deal, and possibly a rise to the debt ceiling in the United States. Euro is heading higher … “Euro Heads Higher Against Major Counterparts US Agreement Nears”
Taiwan Dollar Suffers from Intervention Speculations
The Taiwan dollar slipped today on concerns that the rally of the currency will spur policy maker to intervene, weakening the currency to protect domestic exporters. According to the government data, Taiwan exports dropped 7 percent in September from a year ago. The International Monetary Fund cut the forecast for the nation’s growth to 2.2 percent from 3 percent this year. The data led to speculations that the central bank may intervene to reduce the negative impact … “Taiwan Dollar Suffers from Intervention Speculations”