Eurozone consumer confidence came in below expectations for October, but it is still at its best since July 2011. Risk appetite is a little shaky today, and there are still questions about the sustainability of the eurozone’s economic recovery. The European Commission is reporting that consumer confidence has improved recently. In October, the reading improved to -14.5 from -14.9. The reading wasn’t in line with the expectations for a rise to -14.4, but … “Euro Looks for Direction After Consumer Confidence Report”
Month: October 2013
Does the Bank of England want a higher GBP?
The meeting minutes of the British Monetary Policy included a line which could imply satisfaction with the higher exchange rate of the pound. These comments helped the pound recover. It was hurt against the dollar by fear of trouble in Chinese banks, and it also underperformed against the euro that kept surging higher. Is the … “Does the Bank of England want a higher GBP?”
GWAZY – Windsor Brokers’ simplified trading platform
Cyprus based provider Windsor Brokers releases a new platform for trading: GWAZY. The new platform is intended for all levels and offers various levels of returns. For more, here is the official press release: Cyprus, October 22nd, 2013: Windsor Brokers Ltd. recently announced the launch of a new trading method and innovative trading platform, GWAZY. … “GWAZY – Windsor Brokers’ simplified trading platform”
BoE Minutes Do Not Help Sterling
The Bank of England released the minutes of this month’s policy meeting, showing that policy makers voted unanimously for keeping policy the same. The Great Britain pound fell nevertheless as traders were concerned by news from China. BoE released minutes of its October 8–9 meeting today. The minutes were rather hawkish, saying: The news on the month had continued to suggest a robust recovery in activity in the United Kingdom. Monetary stimulus remained considerable … “BoE Minutes Do Not Help Sterling”
Yen Jumps as China Squeezes Liquidity
The Japanese yen jumped today on speculations that Chinese policy makers are going to perform monetary tightening. Such talks made traders nervous and drove them to seek safety. China boosted the benchmark seven-day repurchase rate, reducing funds available to the banking system. The liquidity squeeze caused investors to flee from riskier assets. The MSCI Asia Pacific Index of shares fell 0.8 percent and the Stoxx Europe 600 Index went … “Yen Jumps as China Squeezes Liquidity”
USD/JPY: Trading the US New Home Sales Oct 2013
US New Home Sales indicator is released monthly, and provides analysts with important data the health and direction of the housing sector. A higher reading than the market prediction is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Thursday at 14:00 GMT. Indicator Background US New … “USD/JPY: Trading the US New Home Sales Oct 2013”
Aussie Climbs as CPI Beats Expectations
The Australian dollar advanced today after data showed that consumer prices were rising last month much faster than was expected. It suggests that the nation’s central bank has less incentive to ease its monetary policy further. The Consumer Prices Index rose 1.2 percent in September, above the forecast of 0.8 percent growth. The increase followed the advance by 0.4 percent in August. The trimmed mean CPI was … “Aussie Climbs as CPI Beats Expectations”
Dollar Drops as Non-Farm Payrolls Disappoint
The US dollar dropped sharply against most major currencies today after non-farm payrolls frustrated market participants, showing employment growth that was slower than investors have hoped for. Non-farm payrolls have been delayed because of the government shutdown and were released only today. Traders hoped for solid growth, but were frustrated as US employers added just 148,000 jobs in September. The value was far … “Dollar Drops as Non-Farm Payrolls Disappoint”
Economic Data Supports UK Pound
Economic data is providing support for the UK pound. Not only is the budget deficit in the United Kingdom narrowing, but the news out of the United States has been helping a bit. With all of the improved information, the UK pound is getting a bit of a boost today. The United Kingdom’s government statistics office said that the budget deficit shrank in September. The budget deficit narrowed from 12.5 billion pounds a year earlier … “Economic Data Supports UK Pound”
Euro Surges with Risk Appetite
Euro is surging today as risk appetite returns to the markets with the release of US payroll data. With the data for September showing modest improvement, and with the numbers for August revised higher, a surge of interest in risk assets is helping high beta currencies like the euro. Thanks to the government shutdown, payrolls data was delayed for October. The numbers were released earlier today, showing that the United States saw an increase of jobs … “Euro Surges with Risk Appetite”