The Australian dollar dropped today as nation’s economic growth slowed last quarter, being below analysts’ estimates. This led to concerns about potential interest rate cut from the Australian central bank. Australian gross domestic product expanded 0.6 percent in the third quarter of 2013 on a seasonally adjusted basis. GDP rose 0.7 percent in the preceding quarter and economists have thought that the economy would maintain this rate of expansion. … “Aussie Drops as GDP Grows Slower”
Month: December 2013
OANDA launches “Markets in 3D” technical analysis by FinGraphs
Global forex broker OANDA partners with FinGraphs to launch a new tool for technical analysis that identifies trends in three time frequencies: short, medium and long term. The service is available for free for OANDA users for 7 days, after which they can opt to subscribe to it on a monthly basis. It is a … “OANDA launches “Markets in 3D” technical analysis by FinGraphs”
Canadian trade balance turns positive – CAD recovers
Canada reported a surplus of 0.1 billion in OCtober, significantly more than a deficit of 0.7 billion expected. A non-negative trade deficit was last seen in December 2011. USD/CAD is dropping a bit, after suffering from a long period of drops. The US trade deficit for October slid to 40.6 billion, within predictions. It was … “Canadian trade balance turns positive – CAD recovers”
Sirix copy trading volumes have quadrupled
Leverate, the software provider for brokers, reports that copy trading volumes in its social platform, Sirix, have quadrupled in the past 3 months. Copy trading was launched by the company around one year ago. For more details, here is the official press release: December 4, 2013 – Leverate announces that Sirix copy trading volumes have … “Sirix copy trading volumes have quadrupled”
GBP/USD: Two shooting stars in a row – sell opportunity?
The GBP/USD pair tried to rally during the session on Tuesday, but gave back quite a bit of the gains as the 1.64 level offered resistance yet again for the second session in a row. This is now two shooting stars in a row, which of course is a very bearish sign, and now it … “GBP/USD: Two shooting stars in a row – sell opportunity?”
GBP Rises vs. USD, Fails vs. EUR & JPY
Positive economic reports continued to drive the Great Britain pound higher against the US dollar, but did not help the currency versus the euro and the Japanese yen. UK retail sales grew 0.6 percent in November, according to British Retail Consortium. The Markit/CIPS UK Construction Purchasing Managersâ Index rose sharply from 59.4 in October to 62.6 in November, exceeding expectations by a wide margin. For some time traders were worried that … “GBP Rises vs. USD, Fails vs. EUR & JPY”
Eurozone Factory Prices Can’t Keep Euro Down
Euro is gaining ground against the US dollar and the UK pound today, even with the latest producer prices data. Even with the eurozone struggling, and stocks losing ground today, the 17-nation currency continues to forge ahead. The latest producer prices data out of the eurozone paint a disappointing picture. Instead of decreasing by only 0.2 per cent, as forecasted, prices dropped by 0.5 per cent in October. The year over year drop … “Eurozone Factory Prices Can’t Keep Euro Down”
Yen Strengthens as Traders Look for Safer Assets
With volatility on the rise, many Forex traders are looking for a little safety. As a result, it’s not really surprising that the yen is heading higher. Yen is on the rise as traders and investors look for a little safe haven as they await the next round of economic data and interest rate decisions. Japanese yen moved off a six-month low against the US dollar and is gaining ground against the euro and the pound as well right … “Yen Strengthens as Traders Look for Safer Assets”
USD/JPY: Trading the US ADP Non-Farm Payrolls Dec 2013
US ADP Non-Farm Employment Change 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 USD/JPY. Published on Wednesday at 13:15 GMT. Indicator … “USD/JPY: Trading the US ADP Non-Farm Payrolls Dec 2013”
Yuan Stable After Services PMI Slides
The Chinese yuan was little changed today after the gauge of the services industries slipped a little last month. The drop was very small and did not affect the currency strongly. China’s non-manufacturing Purchasing Managers’ Index fell from 56.3 in October to 56.0 in November. The data followed yesterday’s report that showed that the manufacturing PMI was stable. It was reported that the yuan became the second most-used currency in global … “Yuan Stable After Services PMI Slides”