The Australian dollar sank today after the terrible employment report reignited speculations about possible interest rate cut by the Australian central bank. Australian employment shrank by 22,600 (seasonally adjusted) in December from a month ago. It was nowhere near the expected increase of 10,300. The unemployment rate stayed at 5.8 percent. Ahead of the report, there was a general consensus that the Reserve Bank of Australia will pause with interest rate … “Aussie Sinks as Employment Data Surprises Unpleasantly”
Month: January 2014
Now That Your Ready To Trade A Live Account Follow
Opening a live Forex account is a big step for beginner traders. Forex markets are a great way to invest, but there is a lot of risk involved, so you need to know you’re ready before you open a live account. Before opening, you should have chosen a platform and traded successfully with a demo … “Now That Your Ready To Trade A Live Account Follow”
Bitcoin Expert View: Long Term Play Or Doomed For
2013 was a huge year for Bitcoin headlines. The cryptocurrency on everybody’s lips experienced unprecedented growth of over $1000 ($1238 on Mt.Gox) only to plummet to just over $500 when Chinese authorities took a stance. When BTC China, the country’s number one Bitcoin trading site, announced they could no longer accept Chinese Yuan deposits, it … “Bitcoin Expert View: Long Term Play Or Doomed For”
UK Pound Lower After Housing Data
UK home prices declined in December, once again calling into question the situation surrounding the economic recovery. Pound is lower today as a result of this disappointing news. It appears that the situation in the United Kingdom is eroding a bit. The Royal Institution of Chartered Surveyors released its measure of UK home prices, and it appears that the index dropped to 56 in December from 58 in November. The news indicates that the housing … “UK Pound Lower After Housing Data”
Canadian Dollar Inches Higher Against Its Major Counterparts
Canadian dollar is inching higher against its major counterparts, gaining ground as Forex traders consider their positions, and as the situation changes for the currency. Loonie is finding a little support ahead of next week’s BoC meeting, but general weakness is likely to remain. Loonie is a little higher today, gaining ground as disappointing earnings reports weigh on the US dollar. Drops in the euro and the UK pound relative to the loonie are … “Canadian Dollar Inches Higher Against Its Major Counterparts”
GBP/USD: Trading the British Retail Sales Jan 2014
British Retail Sales is considered one of the most important indicators of consumer spending. The indicator’s release in the first week of each month provides analysts and traders with an early look at consumer spending. A reading that is higher than the market forecast is bullish for the British pound. Here are all the details, and 5 possible … “GBP/USD: Trading the British Retail Sales Jan 2014”
Export Data Doesn’t Help Euro in Forex Trading
Eurozone’s export data isn’t helping the euro much today, as the 18-nation currency is dropping against most of its major counterparts. Concerns about the eurozone recovery persist, even though exports have increased in the periphery. The export situation in the eurozone is an interesting one right now. According to Eurostat, exports from the eurozone fell by 2 per cent year over year in November. This coming after an increase in October. The news … “Export Data Doesn’t Help Euro in Forex Trading”
Upbeat Retail Data Helps US Dollar in Trading
Greenback is higher today, gaining ground as upbeat retail data from December helps promote the idea that the US economy is still headed for recovery. Many had expected disappointing retail sales figures for December, since the holiday season was a bit lackluster. However, when the numbers came in, they were better than expected. This made up for last week’s disappointing payrolls data. Now, the two-day … “Upbeat Retail Data Helps US Dollar in Trading”
Franc Drops Despite Positive Swiss Retail Sales
The Swiss franc was among losers today even though domestic macroeconomic data was very good and should have provided support for the currency, which trades very similar to the euro due to the Swiss National Bank effective peg of the franc to the eurozone currency. Swiss retail sales (seasonally adjusted) expanded 4.2 percent in November from a year ago after rising 1.6 percent in October. Experts counted on an increase by 2.3 percent. … “Franc Drops Despite Positive Swiss Retail Sales”
Malaysian Ringgit Falls as US Retail Sales Rise
The Malaysian ringgit fell today together with other Asian currencies after yesterday’s report showed that US retail sales exceeded analysts’ expectations, increasing chances for additional stimulus cuts by the Federal Reserve. Core retail sales advanced 0.7 percent in December from November, more than was forecast — 0.4 percent. Total sales increased 0.2 percent. The World Bank trimmed its forecast for growth of developing economies … “Malaysian Ringgit Falls as US Retail Sales Rise”