The Australian dollar fell today, reaching the lowest price in five years against its New Zealand counterpart, after the minutes of the latest Reserve Bank of Australia policy meeting confirmed that policy makers may consider lowering interest rates even more. The RBA left its main interest rate unchanged on the December 3 meeting, but signaled that it may perform an interest rate cut in the future: The Board’s judgement … “AUD at Five-Year Low vs. NZD”
Month: December 2013
EUR/USD: Trading the German IFO Dec 2013
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. … “EUR/USD: Trading the German IFO Dec 2013”
Canadian Dollar Falls as Traders Weigh Chances for Fed Tapering
The Canadian dollar fell today as Forex traders were weighing chances for the US Federal Reserve to taper its monetary stimulus at this week’s policy meeting. The losses were not particularly big as the market was somewhat quiet ahead of the gathering. The Fed meets on Wednesday and all attention is focused on the upcoming event. Signs of recovery in the United States allow economists to speculate that the US central bank may trim the size of the stimulus … “Canadian Dollar Falls as Traders Weigh Chances for Fed Tapering”
Tankan Survey Helps Yen to Gain
The very good Tankan survey, which was released today, helped the Japanese yen to rally, though gains were relatively small. Nervousness on the Forex market ahead of the Federal Reserve meeting was helping the currency too. The Tankan manufacturing index for large enterprises rose from 12 in September quarter to 16 in December quarter, exceeding expectations and reaching the highest level since 2008. The non-manufacturing index was up from 14 last … “Tankan Survey Helps Yen to Gain”
Yuan Flat After Manufacturing PMI Slips
The Chinese yuan was little changed against the US dollar today after data showed that Chinese manufacturing sector expanded with slower a pace than was predicted by analysts. The HSBC Flash China Manufacturing Purchasing Managersâ Index eased from 50.8 in November to 50.5 in December. Forecasters promised an increase to 51.0. The gauge remained above the neutral 50.0 level, still indicating expansion of the sector, but at slower rate. USD/CNY … “Yuan Flat After Manufacturing PMI Slips”
NZD Fluctuates vs. USD Even as Consumer Confidence Improves
The New Zealand dollar fluctuated against its US counterpart even as consumer confidence in the South Pacific nation improved. The currency also fell versus the Japanese yen. The Westpac Consumer Sentiment rose to 120.1 this quarter from 115.4 in September quarter, reaching the highest level since September 2009. The report said: Consumers have become much more optimistic about the economy, and more upbeat about their own finances. Traders … “NZD Fluctuates vs. USD Even as Consumer Confidence Improves”
Euro Heads Higher on Better Economic Data
Euro is gaining ground today, heading higher as better economic data helps the 17-nation currency. Factory output grew at a better rate than expected, and Germany is once again leading the economic recovery charge. Euro is gaining against most of its major counterparts as a result. The eurozone continues to recover from its recent double-dip recession. This time, the better than expected news comes in the form of the latest factory … “Euro Heads Higher on Better Economic Data”
US Dollar Drops, Even With Taper Speculation
The US dollar is heading lower today, dropping even though there is speculation that the Federal Reserve will announce the beginning of its taper this week. The thought of low interest rates and the fact that the US economy might not be quite ready for taper are weighing on the greenback right now. Members of the FOMC at the Federal Reserve plan to have their last two-day meeting of the year this week. Many … “US Dollar Drops, Even With Taper Speculation”
GBP/USD: Trading the British CPI Dec 2013
British CPI, also known as inflation, is a key consumer indicator. It measures the change in the price of goods and services charged to consumers. A reading that 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 Tuesday at 9:30 GMT. … “GBP/USD: Trading the British CPI Dec 2013”
GBP/USD 2014 Forecast
The Sterling rally into the second half of 2013 has been nothing short of remarkable, with the pound gaining over 10% against the big dollar on renewed optimism the British economy has turned a corner. A number of strategic government programs to help with the recovery in the housing market has succeeded in boosting dwelling … “GBP/USD 2014 Forecast”