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 … “EUR/USD: Trading the Philadelphia Fed Index January 15 2014”
Month: January 2014
Yen Tumbles as Current-Account Deficit Widens to Record
The Japanese yen sank today as the nation’s current-account deficit widened, reaching the historic high level, leading to concerns that policy makers will be forced to take additional steps to spur economic revival in Japan. Japan’s current account gap increased to ¥5.93 billion in November from ¥1.28 in December. Forecasters have promised that it would not change much. The data does not bode well for Japan’s economy and the Bank … “Yen Tumbles as Current-Account Deficit Widens to Record”
AUD/USD: Trading the Australian jobs Jan 2014
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian jobs Jan 2014”
UK Inflation Reaches BoE Target, Pound Up
The Great Britain pound advanced today against its major peers as inflation slowed, hitting the target set by the central bank for the first time in more than four years and fueling optimism for economic recovery in the country. Annual growth of the Consumer Price Index fell from 2.1 percent in November to 2.0 percent in December. This was not expected by analysts, who have thought that the gauge would stay the same. Usually, falling … “UK Inflation Reaches BoE Target, Pound Up”
Turkish Lira Falls amid Current Account Deficit & Corruption Scandal
The Turkish lira fell today as the nation’s current account deficit widened, while the corruption scandal continues to deter investors from bringing capital into the country. The shortfall of the Turkish current account widened from $2.9 billion in October to $3.9 billion in November. It was above the $4.3 billion median estimate of economists. The police probe into some politicians’ activities hurt Turkey’s attractiveness as an economy into which to bring money. USD/TRY … “Turkish Lira Falls amid Current Account Deficit & Corruption Scandal”
Real Rises as Central Bank Starts Policy Meeting, Sheds Gains
The Brazilian real weakened today on concerns that the US Federal Reserve will continue reducing the size of its asset purchases. Earlier, the currency advanced as the Brazilian central bank started a two-day policy meeting. The last week’s report showed that annual inflation accelerated to 5.91 percent from previous year’s 5.84 percent even though Alexandre Tombini, the Governor of the Central Bank of Brazil, promised that would not increase further. … “Real Rises as Central Bank Starts Policy Meeting, Sheds Gains”
Factory Output Doesn’t Do Much for the Euro
Euro is a little lower today, even after the latest factory output data that indicated that industrial production is on the rise. Even with the better than expected news, the euro is still struggling today. Risk aversion is evidence today, and that might be holding the euro back a bit in Forex trading, even with the better economic data that has just been reported. Industrial production … “Factory Output Doesn’t Do Much for the Euro”
Cautious Optimism Not Enough to Sustain Loonie
The Canadian dollar got a little bump on Monday, following the release of the Bank of Canada’s business outlook survey. However, the small gains were short-lived as economic realities and monetary policy divergence send the loonie lower against most majors today. Loonie has be struggling quite a bit recently, and today is no exception. Yesterday, after a business outlook survey from the Bank of Canada that showed cautious optimism, the Canadian dollar … “Cautious Optimism Not Enough to Sustain Loonie”
Sirix now fully features Trading Central
Forex software provider Leverate announced that brokers that use the social platform Sirix will now have the ability to add embedded technical analysis by Trading Central. Leverate recently reported that Sirix trading volumes have quadrupled. For more details, here is the press release: January 14, 2013 – Leverate announces that brokers using the Sirix platform … “Sirix now fully features Trading Central”
Greenback Mixed Against Other Majors
US dollar is mixed today, thanks in large part to confused signals about what’s next for the currency. The latest jobs data was soft, and that has some rethinking the idea that the Federal Reserve will boost its tapering efforts. The Fed might have started the taper, but it’s not likely to step back stimulus further if data remains soft. Even though the US dollar is down … “Greenback Mixed Against Other Majors”