2014 began with bang: multi-year records for quite a few currency pairs, emerging markets’ worries that are felt in major currencies and the to taper or not to taper question that continues having a strong impact, even if it isn’t the first time. We will try to understand what is going on, what will happen next … “Webinar: Understanding recent market turmoil”
Month: February 2014
Eurozone Deflation Risk Weighs on Euro
Euro is struggling today, thanks in large part to the increased deflation risk for the 18 country currency region. Retail sales figures are the culprit today, indicating that the Christmas shopping season didn’t do much for the eurozone economy. The latest retail sales figures are down, show that the eurozone’s holiday shopping season didn’t go as well as expected. Retail sales in December were 1 per cent lower in 2013 … “Eurozone Deflation Risk Weighs on Euro”
Surprisingly Bad Macroeconomic Indicators Push Sterling Down
The Great Britain pound dropped today due to surprisingly disappointing data from the United Kingdom. The services index unexpectedly fell and shop prices demonstrated deflation for the ninth month in a row. The Markit/CIPS UK Services Purchasing Managers’ Index was down from 58.8 in December to 58.3 in November. It was an unpleasant surprise to market participants who have expected an increase to 59.1. The Shop Price Index of British Retail Consortium demonstrated a 1.0 … “Surprisingly Bad Macroeconomic Indicators Push Sterling Down”
NZ Dollar Unable to Keep Gains Despite Positive Employment Data
The New Zealand dollar was falling today despite very strong employment data released at the end of yesterday’s trading session. The currency demonstrated a huge jump on the previous session and it is likely that traders just considered such gains to be unsustainable. New Zealand employment grew by 1.1 percent in the fourth quarter of 2013 from the previous three months, almost twice the forecast value of 0.6 percent. The unemployment rate fell … “NZ Dollar Unable to Keep Gains Despite Positive Employment Data”
Aussie Strong as RBA Rules Out Interest Rate Cut
The Australian dollar surged yesterday and maintained its gains today as the nation’s central bank refrained from an interest rate cut and signaled that it is going to keep borrowing costs stable. Furthermore, the bank dropped the mention of a strong exchange rate, meaning that it is not going to take steps for weakening the currency. The Reserve Bank of Australia maintained its main interest rate at 2.5 percent at yesterday’s monetary policy … “Aussie Strong as RBA Rules Out Interest Rate Cut”
Yen Falls for the First Day in Five
The Japanese yen fell today as fears on the Forex market eased, damping demand for riskier currencies. It was the first day of losses after the four-day rally versus the euro and the Great Britain pound. The yen was down of speculations that the rally has been overdone. Previously, the Japanese currency was rising on signs of slower growth in the United States. The manufacturing Purchasing Managers’ Index of Institute for Supply Management dropped from 56.5 percent … “Yen Falls for the First Day in Five”
US Dollar Gains Ground Against Majors
US dollar is gaining ground against majors today, heading higher as risk aversion continues, but things improve for the US economic picture. Concerns about a slow down in growth for the US economy led to a lower dollar yesterday, and worries about emerging markets weighed on stocks. Today, things are a little different. Now, stock futures look to recover, and the US dollar is heading higher. There are still concerns … “US Dollar Gains Ground Against Majors”
USD/JPY: Trading the ISM Services PMI Feb 2014
The ISM Non-Manufacturing PMI (Purchasing Manager Index) is based on a survey of purchasing managers active in the services sector of the economy. Respondents are surveyed for their view of the economy and business conditions in the US. A reading that is higher than the estimate is bullish for the US dollar. Here are all the … “USD/JPY: Trading the ISM Services PMI Feb 2014”
OANDA and BeeksFX partner to offer lower latency
OANDA, a global forex broker, and BeeksFX to improve the and lower the latency time for retail traders. Through the fully managed VPS system of BeeksFX, traders can use either MT4 or OANDA’s proprietary fxTrade to enjoy better response times. OANDA recently earned Best Value for Money award in the 2013 U.K. Leveraged Trading Report. for … “OANDA and BeeksFX partner to offer lower latency”
NZD/USD: Trading The New Zealand Employment February 2014
New Zealand Employment Change is released on a quarterly basis. It is one of the most important indicators and an unexpected reading can affect the movement of NZD/USD. A reading which is higher than the market forecast is bullish for the New Zealand dollar. Here are the details and 5 possible outcomes for NZD/USD. Published on Tuesday at 21:45 GMT. Indicator Background … “NZD/USD: Trading The New Zealand Employment February 2014”