US dollar is heading higher against the euro today, surging ahead as expectations about the eurozone and expectations about the US economy solidify ahead of an ECB meeting and US payrolls data on Friday. Greenback is higher, putting pressure on commodities as well. The US dollar is stronger against the euro right now as concerns about the eurozone continue, and as many look for the Federal Reserve to begin tapering its asset purchase program sometime … “US Dollar Gains Against Euro on Latest Expectations”
Month: November 2013
Housing Market, Economic Forecast Boost UK Pound
UK pound is heading higher today, gaining as better news comes in from a number of quarters. The housing market seems to picking up, with home prices rising. Additionally, a new economic forecast indicates that the UK economy is likely to grow more than expected in coming months. UK pound is finding support today, jumping against many of its major counterparts as better economic news comes into … “Housing Market, Economic Forecast Boost UK Pound”
UK economic figures demonstrate attraction of GBP
Economic data out today in the UK shows that the little island is recovering much stronger than expected and is now forecast to be among the fastest growing economies in the western world in 2014. Data due out earlier today showed that Britain’s services sector increased in October at the fastest rate since 1997. Purchasing … “UK economic figures demonstrate attraction of GBP”
Reacting to news in Forex trading
The Forex market is the fastest moving on the planet. In contrast to stock trading, where the biggest winners focus on long-term goals, Forex offers ample opportunity for amassing large profits through short-term trades. But those trades can depend on fluctuations lasting only a few minutes. It’s important to pay attention. But what do you … “Reacting to news in Forex trading”
GBP/USD – Trading the British Manufacturing Production
The 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 9:30 GMT. Indicator Background … “GBP/USD – Trading the British Manufacturing Production”
Yen Discards Concerns About Slow Inflation Growth
Economists were speculating that the measures implemented by the Bank of Japan will not be enough to reach the target inflation of 2 percent, but such talks did not deter the Japanese yen from extending yesterday’s advance today. Analysts pointed out that economic growth does not look robust enough despite all the monetary easing of the BoJ. Indeed, today’s report showed that the monetary base was shrinking … “Yen Discards Concerns About Slow Inflation Growth”
Falling Crude Oil Drags Down Canadian Dollar
The Canadian dollar was soft at the start of this trading week as crude oil slid, endangering the export-oriented economy of Canada. The currency attempted to recover against its US peer, but failed and remained weak against other major counterparts too. Futures for delivery of crude oil in December slid below the $95 level, touching $94.06 per barrel — the lowest price since June. Crude oil is the major export commodity of Canada … “Falling Crude Oil Drags Down Canadian Dollar”
Factory Data Helps Euro
Factory data is helping the euro today, boosting confidence in the 17-nation currency region. However, there are still questions about the euro, and concerns about what could be next. As a result, it appears that the euro’s rally is somewhat limited. Eurozone PMI accelerated in October, and did so in line with expectations. However, other data reveals that eurozone inflation is still well below the 2 per … “Factory Data Helps Euro”
Dollar Pulls Back Against Majors
The US dollar is pulling back against its major currency counterparts today, thanks in a large part to Federal Reserve expectations. Greenback is down pretty much across the board, and the dollar index has retreated from its earlier level above 81.00. One of the biggest drivers of US dollar performance continues to be the Federal Reserve, and speculation over when tapering will begin. Even though the economic data in the United … “Dollar Pulls Back Against Majors”
Pound as Construction Sector Expands
The Great Britain rose today, recovering from the last week’s slump a bit, as the construction sectors expanded more than was anticipated, adding to mounting evidences of economic recovery in the United Kingdom. The Markit/CIPS UK Construction Purchasing Managers’ Index rose from 58.9 in September to 59.4 in October. It was a surprise to market participants as they have expected the gauge to stay unchanged. The rise of index, which is above the neutral 50.0 level, … “Pound as Construction Sector Expands”