The Great Britain pound ended Friday weaker against the US dollar and the euro, but managed to rise against the Japanese yen. The currency was able to keep its weekly gains against other most-traded currencies, including the greenback. US employment surged by 204,000 jobs in October. This easily explains the weakness of the sterling against the US currency. The drop against the euro is harder to explain. Domestically, the UK currency is supported by mostly … “Pound Weakened by Friday, Maintains Weekly Gains”
Month: November 2013
CAD Loses to USD, Gains vs. Other Major on Employment Data
The Canadian dollar ended Friday lower against its US peer because of unexpectedly good non-farm payrolls, but rose against most other major currencies thanks to Canadian employment data that was positive too. Canadian employers added 13,200 jobs in October, while in September employment grew by 11,900. The unemployment rate remained steady at 6.9 percent, frustrating analysts who have expected a small increase. Housing starts … “CAD Loses to USD, Gains vs. Other Major on Employment Data”
France Downgrade, ECB Rate Cut Weigh on Euro
Euro is struggling against the US dollar today, heading lower as the economic situation in the eurozone raises questions. Euro is also barely holding its own against the UK pound, struggling as it moves between gains and losses today. Between the ECB rate cut yesterday and the downgrade to France’s credit rating, there is a lot weighing on the 17-nation currency right now. Yesterday, the European Central Bank surprised nearly everyone … “France Downgrade, ECB Rate Cut Weigh on Euro”
US Dollar Surges With “Dectaper” on the Table
Today’s surprising payrolls report out of the United States is fueling speculation that the Federal Reserve could begin its taper as early as December. The latest report shows a surge in jobs, and that is leading some to believe that the easing policy will be lifted, which is very dollar positive. While the eurozone and the United Kingdom are both showing improvements in their economies, both are still firmly in need … “US Dollar Surges With “Dectaper” on the Table”
Norwegian Krone Falls on Talks About Budget Reduction
The Norwegian krone dropped today as nation’s officials suggested that a stronger currency may be harmful to the economy, affecting local exports in a negative way. Some drastic measures, like budget reduction, might be taken in case of appreciation. Norwayâs Prime Minister Erna Solberg was talking about budget cuts that might be necessary to help Norwegian exports remain competitive: If the Norwegian krone starts to appreciate more, … “Norwegian Krone Falls on Talks About Budget Reduction”
Swiss Rises Despite Slowing Growth of Retail Sales
The Swiss franc rose today even though this week’s macroeconomic data, including today’s report on retail sales, was not particularly supportive for the currency. Retail sales rose 1 percent in September from a year ago, while analysts have expected the rate of growth to stay at the previous month’s value of 2.5 percent. The Consumer Price Index fell 0.1 percent in October. The consumer confidence index improved from -9 in July … “Swiss Rises Despite Slowing Growth of Retail Sales”
Dectaper getting more real after the strong NFP
Yes, the strong gain of 204K jobs may have been distorted by the government shutdown. And indeed, there will be a cleaner NFP report for November before the next Fed decision on December 18th. We will also get revisions of the strong but suspicious GDP report for Q3. Nevertheless, there are a few positive points … “Dectaper getting more real after the strong NFP”
5 Reasons To Trade Gold With A Forex Broker
Gold has often been considered a safe haven investment by many traders. One of the reasons why investing in gold is so popular is because there are many ways you can invest in this commodity. You can buy physical gold in one of its most popular forms – gold bullion, gold biscuits or gold bullion … “5 Reasons To Trade Gold With A Forex Broker”
CLM launches Professional Platform CorePro FX
Australian based provider Core Liquidity Markets announces its new platform for professionals called CorePro FX. CLM recently integrated Neteller payments. For more about the new platform, here is the official press release: Core Liquidity Markets Pty Ltd, an Australia-based Forex, Metals, CFDs and Binary Options Financial Services Firm, has announced the launch of their Professional Platform CorePro … “CLM launches Professional Platform CorePro FX”
Czech National Bank Intervenes to Weaken Koruna
The Czech koruna was soft today after yesterday’s announcement of the central bank about an intervention aiming at weakening the currency. The bank left its interest rates unchanged. The Czech National Bank left interest rates unchanged at yesterday’s meeting, including the two-week repo rate and the discount rate, which stayed at 0.05 percent. With not room to cut rates further, the central bank referred to an intervention on the Forex market as a way to stimulate the economy, … “Czech National Bank Intervenes to Weaken Koruna”