There remains a strong case to own gold based on fundamentals. Central banks continue to flood markets with liquidity and uncertainty continues to prevail worldwide. Yet the technicals tell a different story, one that suggests the yellow metal’s best days are probably over in terms of prices. Geopolitical uncertainty remains acute across the world. The … “Is the gold rally over?”
Month: November 2013
Employment Growth Brings New Zealand Dollar Higher
The New Zealand dollar climbed today, rising against its US counterpart for the third consecutive trading session, after faster-than-expected employment growth added incentive for the central bank to raise interest rates. New Zealand employment grew by 1.2 percent in the third quarter of 2013, more than two times the forecast of 0.5 percent. As a result, the unemployment rate fell by 0.2 percentage point to 6.2 percent. It is very likely that … “Employment Growth Brings New Zealand Dollar Higher”
Risk Appetite Makes an Appearance, Sending Dollar Lower
Risk appetite is making an appearance today, and that is sending the US dollar a little bit lower today. News out of China is driving some risk appetite, and for now there is more focus on high yielders than there is on what the Federal Reserve is planning. US dollar is lower against its high beta counterparts today, dropping as risk appetite comes to the markets. China lowered … “Risk Appetite Makes an Appearance, Sending Dollar Lower”
Will EUR/ZAR break out of its trading range?
The EUR/ZAR tested the resistance level of 13.77 on Friday last week but failed to close above the level, retracing to a close of 13.74. Back in mid-June it reached a high of 13.75 after rallying the previous six weeks from the low of 11.60. Written by Tarik Chebib who works on IG’s dealing floor … “Will EUR/ZAR break out of its trading range?”
Aussie Little Changed After Trade Deficit Shrinks
The Australian dollar was little changed today after a report showed that the nation’s trade deficit shrank much more than was expected, supporting the opinion that an interest rate cut from the central bank is not required. The Australian trade balance posted a deficit of A$284 million in September, down from August’s A$693 million. The median analysts’ estimate promised a decrease to just A$510 million. The Reserve Bank of Australia … “Aussie Little Changed After Trade Deficit Shrinks”
Euro Soft, Damaged by Signs of Weaker Recovery
The euro dropped today as speculations persisted about potential implementation of additional monetary stimulus by the European Central Bank. The economic reports were not helping the matter and the forecasts for the next year were less optimistic. Spanish unemployment surged by 87,000 in October, exceeding the analysts’ estimate of 31,300 by a wide margin. The forecast for European Union economic growth in 2014 was less optimistic compared to the previous projection. The revision was small (from 1.2 percent … “Euro Soft, Damaged by Signs of Weaker Recovery”
AUD/USD: Trading the Australian jobs Nov 2013
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian jobs Nov 2013”
DailyForex launches FX Academy – a new forex training
FX Academy is a new site launched by the veteran forex portal DailyForex. The new site focuses on training for new and seasoned traders. There is a wide range of training materials on the new site. For all the details, here is the official press release: LONDON, 05 November 2013 – DailyForex.com, the online Forex … “DailyForex launches FX Academy – a new forex training”
Mexican Peso Suffers from QE Tampering Speculations
The Mexican peso fell today as talks about quantitative easing tampering from the Federal Reserve persisted, driving Forex traders away from riskier currencies to safer ones. Institute for Supply Management services index for the United States showed an increase from 54.4 percent to 55.4 percent in October instead of the expected drop to 54.2 percent. The report reinforced the outlook for QE tampering in the near future. Analysts explained that such data is … “Mexican Peso Suffers from QE Tampering Speculations”
AUD Weaker as Stevens Complains About Exchange Rate
The Australian dollar weakened today a bit after the central bank refrained from additional monetary easing, but complained that the currency is too strong and should depreciate in order to aid economic growth. The Reserve Bank of Australia maintained its key interest rate at 2.5 percent today. RBA Governor Glenn Stevens said in the statement: The Australian dollar, while below its level earlier in the year, is still uncomfortably high. … “AUD Weaker as Stevens Complains About Exchange Rate”