The last part of this week is a busy one for the euro. The latest ECB decision, which left rates unchanged, has given the 17-nation currency a boost. Another factor influencing the euro is the meeting of eurozone leaders in Berlin today. They are making an effort to secure a better banking union for the region. One of the concerns holding back the eurozone recovery, and that continues to arise during talk of euro stability, is that of the banking … “Euro Mostly Higher With Banking Union Meeting Under Way”
Month: December 2013
5 reasons for QE tapering in December – NFP Analysis
The Non-Farm Payrolls report in the US came out better than expected, not only in the headline numbers, but also in the details. It seems that the plan that Bernanke laid down back in June remains fully intact. This means the beginning of the end of QE by the end of 2013. If this NFP … “5 reasons for QE tapering in December – NFP Analysis”
Odds improve for December taper
By Alex Edwards at UKForex, an international money transfer service It was a positive start to the week for the pound last week. Manufacturing and Construction PMI both printed stronger than market expectations, the latter came in at 62.6 vs. expectations for 59.3, expanding at its fastest pace in more than six years. GBP/USD advanced to … “Odds improve for December taper”
Better than expected US non-farms should be the catalyst
US non-farm payroll figures released earlier today showed that the US is making decent progress on the employment front and demonstrating that the US economy is recovering better than expected. Non-farm payroll figures are probably the most important and closely watched economic figures watched by the financial markets. Figures released showed that the US economy … “Better than expected US non-farms should be the catalyst”
Loonie Gains After Good Employment Report
The Canadian dollar gained today after data showed that employment grew with decent pace last month, suggesting that economic recovery is proceeding in the North American country. Canadian employment added 21,600 jobs in November after expanding by 13,200 in October. The employment change was in line with forecasts. The unemployment rate remained steady at 6.9 percent. US employment data was also released today, creating huge … “Loonie Gains After Good Employment Report”
Nonfarm Payrolls Provide Pleasant Surprise to Dollar Bulls
Nonfarm payrolls pleasantly surprised dollar bulls as they demonstrated robust employment growth and added to speculations that the Federal Reserve will reduce monetary stimulus this month. Yet another surprise, this time not so pleasant, was the fact that the dollar did not manage to gain on the euro and the Great Britain pound, though it was able to jump versus the Japanese yen. Currently, though, it looks like … “Nonfarm Payrolls Provide Pleasant Surprise to Dollar Bulls”
EUR/USD: Trading the US NFP Dec 2013
US Non-Farm Employment Change is one of the most important economic indicators. It measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on … “EUR/USD: Trading the US NFP Dec 2013”
Vietnam Experiences Power Shortage, Dong Stable
Vietnam desperately needs inflows of overseas capital, but the attractiveness of the country for foreign investment is in danger because of energy shortage. The Vietnamese dong remained stable today. Retail electricity prices were too low in Vietnam to attract investors to the power industry. The government is trying to address the issue by raising prices, but it may not do so soon enough. Meanwhile, low retail power prices attracted investors to electricity-intensive … “Vietnam Experiences Power Shortage, Dong Stable”
CAD Gains on USD Ahead of Employment Data
The Canadian dollar rose against its US counterpart today on speculations that the recent drop was overdone. The currency remained weak versus the euro and the Japanese yen. Canadian employment data will be released tomorrow. The report is expected to show robust growth by 12,300, which should support optimistic outlook for the Canadian economy and boost the nation’s currency. US nonfarm payrolls will also be released during tomorrow’s session. … “CAD Gains on USD Ahead of Employment Data”
US Dollar Mixed Against Other Majors
US dollar is mixed against other majors today, looking for direction as economic data is released and policy decisions are made. There are a lot of questions about what’s next for the greenback, and many are waiting for further information. Today, a lot of the focus has been on the ECB and BOE policy decisions. There was also interest in yesterday’s BOC decision. Many Forex traders are looking over statements and decisions, … “US Dollar Mixed Against Other Majors”