British Manufacturing Production, a key indicator, provides analysts and traders with a snapshot of the health of the UK manufacturing sector. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 8:30 GMT. Indicator Background British … “GBP/USD: Trading the British Manufacturing Oct 2013”
Month: October 2013
Canadian Dollar Retains Losses
The Canadian dollar retained its yesterday’s losses today that were caused by the abysmal building permits data. Worries about the US budget impasse did not help the currency either. Canadian building permits slumped 21.2 percent in August from July, when an increase by 21.4 percent was registered. Analysts’ forecasts were nowhere near the actual data, promising a decrease by just 2.4 percent. The problems in the United States, the biggest … “Canadian Dollar Retains Losses”
Yen Rallies as US Budget Standoff Persists
The Japanese yen rallied as fear of a potential default in the United States made Forex traders to flock to safer currencies. There were hopes that US politicians will reach a compromise soon, but now it looks like nobody is willing to give up first and the standoff continues. Republican House speaker John Boehner said that the House will not approve raising debt ceiling unless the Obamacare will be … “Yen Rallies as US Budget Standoff Persists”
Another Week of Weakness for Pound?
The Great Britain pound has shown signs of weakness last week even though at first it looked like the currency is going to rally to new highs. What important events are scheduled this week and what analysts expect from sterling? There are two major events in the United Kingdom this week: the release of manufacturing production data and the Bank of England policy meeting. Experts estimated ahead of the government report … “Another Week of Weakness for Pound?”
UK Pound Gets Boost From Financial Optimism
UK pound is mostly higher today, thanks in large part to financial optimism in the United Kingdom. It appears that the economy is picking up, and that is supporting the pound against many of its major counterparts in the currency market. The latest policy decision from the Bank of England keeps the interest rate at a low 0.5 per cent, and it also keeps the asset purchase program stable. However, it appears that … “UK Pound Gets Boost From Financial Optimism”
Euro Higher Against Dollar, Down Against Pound, Yen
Euro is higher against the US dollar today, thanks in large part to the concerns related to the government shutdown and its effect on the economy. However, the 17-nation currency isn’t having as much success against other major currencies, as it heads lower against the pound and the yen. Euro is gaining ground against the US dollar today, heading higher as the government shutdown continues. With the US government in a stalemate and with concerns rising that … “Euro Higher Against Dollar, Down Against Pound, Yen”
NZ Dollar Weakens as Finance Minister Thinks Currency Too Strong
The New Zealand dollar slipped today as Finance Minister Bill English said that the strength of the currency is excessive, leading to concerns that policy makers may take steps to the weaken the currency. The Minister said: The exchange rate, in our view, is still too high. It remains a headwind for the export sector. The kiwi also slid as traders preferred safer currencies due to concerns about a potential default in the United States. NZD/USD … “NZ Dollar Weakens as Finance Minister Thinks Currency Too Strong”
US administration shut down; What to expect this week?
Forex: Trading on the Forex market was relatively calm, with only the GBP/USD experiencing a more serious chart movement, as it fell by 124 pips to close at 1.6018 on Friday. On Wednesday, the European Central Bank left its interest rate unchanged at 0.5% in a decision that widely expected by market makers. However, the euro rose against … “US administration shut down; What to expect this week?”
Franc Resumes Rally on Threat of US Default
The Swiss franc resumed its rally today as demand for safety persisted on concerns that the disagreement among US politicians will result in the first default of the United States in history. The franc sank on the last trading day of the previous week, but trimmed the losses today as the fiscal situation in the USA remained unresolved. US Treasury Secretary Jack Lew talked about the danger of the default on CNNâs âState of the Unionâ yesterday: If the United States government, … “Franc Resumes Rally on Threat of US Default”
FXVM Launches Forex VPS Hosting Service
A new virtualized hosting for traders and financial applications has launched. With infrastructure located at Equinix in NYC and London, the startup is expected to compete with ultra low latency. Los Angeles, California – Trading infrastructure and virtual hosting provider FXVM (www.fxvm.net), an imprint of Gaiacom, L.C., today announced the immediate availability of its forex VPS hosting … “FXVM Launches Forex VPS Hosting Service”