The Australian dollar declined today, falling for the fourth straight trading session against its most-traded peers, as today’s economic data showed that the nation’s economy is still struggling. The Westpac Melbourne Institute Index of Consumer Sentiment declined by 0.7 percent in March. The report said: The initial declines in December-January looked to be mainly the unwinding of the election-related sentiment boost. More recent falls though have had a very clear theme centring … “Aussies Drops for Fourth Session”
Month: March 2014
AUD/USD: Trading the Australian jobs Mar 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 Mar 2014”
US Economic Optimism Helps Dollar
There’s a bit of economic optimism in the United States right now, and that is helping the US dollar against its high beta counterparts in Europe. Greenback is heading higher as the latest remarks from an ECB official hammer home the fact that the eurozone isn’t out of the woods yet. Right now, the US dollar is getting help as analysts look at the somewhat encouraging jobs report from last Friday, and decide that … “US Economic Optimism Helps Dollar”
Euro Pulls Back After Remarks From ECB’s Constancio
The euro is pulling back today, dropping after remarks from Vitor Constancio, the Vice President of the European Central Bank. Constancio’s remarks are renewing concerns about the eurozone economy, and reviving speculation that the ECB could take steps to ease monetary policy. After seeing some gains in recent sessions, the euro is pulling back a bit today. Concerns are on the rise as ECB Vice President Vitor Constancio remarked … “Euro Pulls Back After Remarks From ECB’s Constancio”
Sterling Extends Decline, Fundamental Data Does Not Help
The Great Britain pound retreated today, falling for the second consecutive session against the Japanese yen and for the third versus the US dollar, as economic indicators were not particularly supportive for the currency. UK retail sales were down 1.0 percent on a like-for-like basis in February from a year ago, according to British Retail Consortium. The reading was not too bad, considering that the comparison was made to the very strong period of sales. Industrial … “Sterling Extends Decline, Fundamental Data Does Not Help”
Aussie Ticks Up as Business Confidence Remains Elevated
The Australian dollar gained today as nation’s business confidence remained at the elevated level in February even though it retreated a bit compared to the previous month. The business confidence index of National Australia Bank ticked down from 9 in January to 7 in February. The report said: Business confidence eased slightly in the month, but remains marginally above trend levels, suggesting firms remain hopeful of a recovery despite mixed signals on business activity. … “Aussie Ticks Up as Business Confidence Remains Elevated”
Yen Retains Weakness Even as BoJ Avoids Adding Stimulus
The Japanese yen remained weak today even as the Bank of Japan refrained from expanding already substantial monetary accommodation. At the same time, policy makers signaled that they are going to keep existing monetary stimulus for the time being. The BoJ kept the size of asset purchases at ¥60–70 trillion on today’s meeting. The central bank was unexpectedly positive regarding the current state of Japan’s economy, saying: Japan’s economy continued to recover moderately, … “Yen Retains Weakness Even as BoJ Avoids Adding Stimulus”
Yen Ahead of BoJ, More Weakness Expected
The Japanese yen was extremely weak last week. The market sentiment was favorable to the currency initially, but it sharply turned negative for the yen after the European Central Bank refrained from additional stimulus and was relatively optimistic about the future of the European economy. The better-than expected US non-farm payrolls did not help the Japanese currency either. But what about this week? Domestically, things do not look … “Yen Ahead of BoJ, More Weakness Expected”
NZD Overcomes Negative Fundamentals, Waits for RBNZ Meeting
The New Zealand dollar fell initially today, together with other high-beta currencies, because of poor trade data released from China over the weekend. Most currencies recovered later and the kiwi was among them as speculations about an interest rate hike allowed it to overcome the negative impact of the news from China. Rebuilding after the earthquake in Christchurch spurred construction boom that translated in rising prices. Inflation pressure has … “NZD Overcomes Negative Fundamentals, Waits for RBNZ Meeting”
Japan’s Growth Revised Lower, Yen Suffers
The Japanese yen declined, even though China’s trade data hurt the traders’ sentiment, as Japan’s economic growth was revised down in today’s report, spurring talks that the economy will not be able to sustain its expansion without additional measures, like monetary stimulus and weakening the currency. Japan’s gross domestic product grew 0.2 percent in the fourth quarter of 2013 from the previous three months, compared to the previous estimate. … “Japan’s Growth Revised Lower, Yen Suffers”