The British Manufacturing Production, a key indicator, provides analysts and traders with a snapshot of the health of the UK manufacturing sector. A reading which 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. Indicator Background … “GBP/USD: Trading the British Manufacturing Mar 2014”
Month: March 2014
Aussie Opens Lower on China’s Trade Data
The Australian dollar opened sharply lower today compared to the Friday’s close as China’s trade data, which was released over the weekend, showed an unexpected trade deficit, reinvigorating fears about slowdown of China’s economic growth. As of now, the currency trades flat against the US dollar and bounced versus the Japanese yen. China’s trade balance demonstrated a deficit of $23.0 billion in February, while analysts anticipated a surplus of $13.2 billion. It was … “Aussie Opens Lower on China’s Trade Data”
Dollar Ends Week with Losses Despite Ukraine & NFP
The US dollar was unable to rally today against most other major currencies even though the geopolitical situation looked favorably to the greenback at the start of the week. The domestic employment report added some strength to the currency by the end of the week, but did not prevent losses against most majors. The greenback profited from the situation in Eastern Europe as the conflict between Russia and Ukraine intensified. The currency was losing its appeal as tensions eased, … “Dollar Ends Week with Losses Despite Ukraine & NFP”
Chinese Default Makes Chilean Peso Worst Performer on FX Market
The Chilean peso sank yesterday, being the worst performer on the Forex market, as copper prices slumped after the news about a company default in China. It spurred fears and drove investors away from raw materials and commodity-related currencies. Shanghai Chaori Solar Energy Science & Technology was unable to repay interest on its bonds. It was the first default of a Chinese company in history, and it sparked concerns that more defaults … “Chinese Default Makes Chilean Peso Worst Performer on FX Market”
CAD Suffers from Poor Canadian Employment Data
The Canadian dollar ended Friday with big losses after the domestic employment report disappointed Forex traders, while the US employment data added to the woes, driving most major currencies down against the US dollar. Canadian employment fell by 7,000 in February, being nowhere near the analysts’ estimate of 16,900 growth. The unemployment rate was steady at 7.0 percent. As a bit of good news, the trade balance deficit narrowed from $922 … “CAD Suffers from Poor Canadian Employment Data”
5 positive jobs numbers that clear the skies for March
The better than expected gain of 175K jobs in February, despite bad weather, leaves clearer skies regarding the first decision of Fed Chair Janet Yellen: another tapering of bond buys from $65 to $55 billion on March 19th. Here are 5 reasons supporting another taper: Jobs gained despite cold weather: this is the most obvious … “5 positive jobs numbers that clear the skies for March”
Euro Gathers Itself and Heads Higher
After a bit of choppiness earlier, in which the euro slipped a bit, the 18-nation currency is now gathering itself and heading higher. The idea that the ECB might not ease monetary policy any more is providing a great deal of support to the euro, and the currency is striving for highs not seen in more than two years. Euro saw a bit of a dip earlier today in Forex trading, but now the currency is moving … “Euro Gathers Itself and Heads Higher”
Dollar Index Slightly Higher on Jobs Data
The latest jobs data is in for the United States, and the good news is helping the dollar index. However, even though the greenback is finding a little bit of support, it is still rangebound in trading. The Labor Department released its jobs data for February, reporting that 175,000 jobs were added to the US economy during that month. Even though the greenback is largely rangebound right now, it is moving … “Dollar Index Slightly Higher on Jobs Data”
Zloty Falls as Poland Considers Entering Eurozone
Poland is again considering shifting from the zloty to the euro as the crisis in Ukraine makes Polish politicians and people nervous. The zloty declined today. The country was delaying its entrance to the eurozone, but the current conflict between Russia and Ukraine may change this stance, at least according to the opinion of National Bank of Poland Governor Marek Belka. Prime Minister Donald Tusk downplayed such speculations, calling the talks “prematureâ. The zloty still … “Zloty Falls as Poland Considers Entering Eurozone”
EUR/USD: Trading the US NFP Mar 2014
US Non-Farm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 13:30 GMT. The News: Non-Farm … “EUR/USD: Trading the US NFP Mar 2014”