EUR/USD: Trading the German IFO Nov 2013

The German Ifo Business Climate is a monthly composite index of about 7,000 businesses, which are surveyed about current business conditions and their expectations concerning economic performance over the next six months. A reading which is higher than the estimate is bullish for the euro. Here are all the details, and 5 possible outcomes for … “EUR/USD: Trading the German IFO Nov 2013”

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Minutes Show BoE Not in Hurry to Raise Rates

The Great Britain pound rose against the Japanese yen and fell against the US dollar today after yesterday’s Bank of England monetary policy minutes. The currency also maintained its rally versus the euro. The BoE minutes showed that all nine board members voted unanimously to keep interest rates and the size of asset purchases unchanged. The minutes also revealed that a drop of unemployment to the bank’s target will not automatically trigger … “Minutes Show BoE Not in Hurry to Raise Rates”

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Japanese Yen Strengthens Against Other Majors

Japanese yen is heading higher today, gaining against its major counterparts as the latest trade news and industry activity data are released. It looks as though Japan’s economy is picking up steam, and that is providing some support to the yen. October’s trade deficit data showed a widening in October. Imports rose sharply, and exports rose more than expected. The trade gap in Japan grew to 1.09 trillion … “Japanese Yen Strengthens Against Other Majors”

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US Dollar Index Drops on Projected Weakness

US dollar is struggling today, with the dollar index falling on projected weakness. Remarks from the Federal Reserve, as well as the latest moves by China, are weighing on the greenback today. Concerns that easing might not be over for the US dollar are rising right now, thanks to the latest comments from the currency Chair of the Federal Reserve. Ben Bernanke indicated that, even if the jobless rate in the United States falls … “US Dollar Index Drops on Projected Weakness”

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Aussie Falls Ignoring Signs of Growth

The Australian dollar followed its New Zealand counterpart in decline today. Data from Australia was good, but it looks like the South Pacific currencies are determined to fall no matter what. The Westpac Leading Index showed signs of improvement. The report said: Recent above trend growth in the Index is pointing to a much better outcome over the next few quarters. Yet the Aussie fell, ignoring good fundamentals, … “Aussie Falls Ignoring Signs of Growth”

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Positive Fundamentals Do Not Help NZ Dollar

Positive fundamentals did not help the New Zealand dollar to rally. The currency dropped today following yesterday’s decline, leading to concerns that it may reverse the upward trend. The kiwi was rising last week but currently has troubles maintaining the rally. It stalled near the level that stopped the previous rally, suggesting that the currency reached strong resistance. The New Zealand Producer Price Index was much … “Positive Fundamentals Do Not Help NZ Dollar”

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USD/JPY: Trading the Philly Fed Manufacturing Index November 2013

The Philadelphia Fed Manufacturing Index is an important leading indicator, and is based on a survey of manufacturers in the Philadelphia area. It examines manufacturers’ opinions of business activity, and helps provides a snapshot of the health of the manufacturing sector. A reading which exceeds the forecast is bullish for the dollar. Here are all … “USD/JPY: Trading the Philly Fed Manufacturing Index November 2013”

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AUD/USD: Trading the Chinese Flash PMI Nov 2013

Chinese Flash Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible … “AUD/USD: Trading the Chinese Flash PMI Nov 2013”

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Canadian Dollar Falls Even as Crude Oil Rallies

The Canadian dollar fell today despite the rally of crude oil — the major export of Canada. The currency dropped as prospects for global growth worsened. Futures for West Texas Intermediate crude oil rose 0.38 percent to $93.8 per barrel in New York today, erasing previous decline. Many commodities and growth-related currencies were rising on speculations about delay of Federal Reserve quantitative easing tampering. At the same time, riskier assets were under … “Canadian Dollar Falls Even as Crude Oil Rallies”

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EUR/JPY at Record Since November 2009

The euro was higher today as European Central Bank members hinted that the bank has options to battle low inflation. The currency reached the highest level since November 2009 against the Japanese yen. ECB Executive Board member Joerg Asmussen explained that the central bank is ready to take actions against deflation. Regarding prospects for negative interest rates he said: While I’d be very careful with … “EUR/JPY at Record Since November 2009”

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