The Australian dollar advanced today as domestic retail sales exceeded forecasts, giving hopes that the Reserve Bank of Australia will refrain from an interest rate cut. Positive data from China supported the currency too. Australian retail sales advanced 0.8 percent in September from August, more than was forecast (0.5 percent). China’s services Purchasing Managers’ Index went up from 55.4 in September 56.3 in October, … “Aussie Advances with Retails Sales & China’s Services”
Month: November 2013
Dollar stops its free fall; What to expect this week?
Forex: The US dollar stopped its negative series from the last few weeks against other major currencies. The greenback erased some of its losses, with the dollar index (DX1213) reporting one of its strongest weeks in the last two years, rising by 2% to 80.80 points on Friday. The most traded currency pair, EUR/USD, lost the … “Dollar stops its free fall; What to expect this week?”
USD/JPY: Trading the ISM Services PMI Nov 2013
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers, excluding the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 … “USD/JPY: Trading the ISM Services PMI Nov 2013”
Webinar today: A week to remember in November
The first week of November brings together top tier economic indicators: 3 rate decisions, 4 employment reports (including the NFP) and the first US GDP report for Q3 are all set to rock currency markets. In a webinar held today, November 4th at 15:00 GMT (free registration here) we will walk though the key events of … “Webinar today: A week to remember in November”
Euro’s Rally Ends Abruptly This Week
The long euro’s rally has ended abruptly this week as the currency posted a sharp drop, demonstrating the biggest loss since July 2012 against the US dollar. Moreover, the future of the currency looks bleak as the European Central Bank may cut interest rates. The euro started the week poorly from the very beginning as it was struggling to stay above the important psychological level of 1.3800 against the dollar. But the major collapse of the shared … “Euro’s Rally Ends Abruptly This Week”
Tough week for the euro, but hard to be USD
Euro declines sharply on rate cut speculation Markets eye ECB & BoE policy announcements on Thursday Cable closes in on monthly lows as BoE is firm that stimulus remains Delayed NFP slated for Friday, markets eager for first post shutdown result It was a tough 5 days for the Euro, which has slid versus the … “Tough week for the euro, but hard to be USD”
Canadian Dollar Remains Elevated
The Canadian dollar remained elevated on Friday after Tuesday’s report, which showed that the nation’s economy continued to grow. The currency ended the session flat versus its US peer. The loonie (as the Canadian currency is nicknamed) remained strong after a report that showed an increase of gross domestic product by 0.3 percent. The currency was a bit soft in the first half of the week, but the second half allowed to reverse losses. The loonie was … “Canadian Dollar Remains Elevated”
Pound Weak After Manufacturing Report
The Great Britain pound dropped today as UK manufacturing expanded last month less that was expected, while speculations about Dectaper continued to plague the Forex market. The currency also erased today’s gains versus the euro. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index fell a bit from 56.3 in September (revised from 56.7) to 56.0 in October. The index remained at an elevated level, but economists have expected it to stay … “Pound Weak After Manufacturing Report”
US Dollar Heads Higher
Greenback is heading higher today as economic data from around the world prompts interest in the US dollar, and as many re-think what’s happening in eurozone. US dollar index is higher, and the greenback is gaining pretty much across the board. The Federal Reserve is keeping its tapering options open, providing little guidance in terms of when a taper is likely to start. Indeed, there wasn’t even a direct reference to the recent … “US Dollar Heads Higher”
Euro Continues to Slide on Rate Cut Possibilities
Euro continues to slide today, following a rather dramatic drop earlier. Expectations that the European Central Bank will have to take action regarding the slow-moving eurozone economy are rising, and a rate cut or another round of special financing are possibilities. Recently, the data out of the eurozone has been discouraging. The ECB has a target inflation rate of 2 per cent, but the latest report shows that eurozone inflation is … “Euro Continues to Slide on Rate Cut Possibilities”