Join a webinar taking place between the two major events of the week, at 15:00 GMT. Sign up for free here. We will take a look at EUR/USD from both sides of the most important events for the pair. Moments after ECB president will end his highly anticipated press conference, we will break down the decision and … “Webinar: ECB run-down, NFP run-up, March 6, 15:00 GMT”
Month: March 2014
Dollar Shows Resilience in Face of Poor Reports
Today, US macroeconomic data was disappointing yet again following the set of positive reports released on Monday. It did not affect the US dollar in a strong manner as the greenback fell against the Great Britain pound, but managed to keep gains versus the euro and the Japanese yen. The employment estimate released by Automatic Data Processing showed growth by 139,000 in February, while investors hoped for growth by at least 159,000. Moreover, the January reading … “Dollar Shows Resilience in Face of Poor Reports”
Australian Economic Growth Accelerates, AUD Moves Higher
The Australian dollar advanced today as nation’s economic growth accelerated, exceeding analysts’ expectations. It supported the outlook that the Australian economy will be able to grow without additional stimulus. Australia’s gross domestic product expanded 0.8 percent in the fourth quarter from the previous three months. The actual value exceeded the forecast of 0.7 percent and the third quarter’s growth of 0.6 percent. The services index of Australian Industry Group jumped by 5.8 … “Australian Economic Growth Accelerates, AUD Moves Higher”
Canadian Dollar Gets Boost as World Calms Down
Loonie is getting a boost today, thanks in large part to the fact that the world appears to be calming down and risk appetite is returning. Thanks to expected improvements to the Canadian economy, and to an improving situation around the world, the Canadian dollar is heading mostly higher today. Even though the Bank of Canada is expected to keep its rate relatively low, at 1 per cent, until next year, there is still … “Canadian Dollar Gets Boost as World Calms Down”
Euro Struggles Even After Positive Economic Data
Euro’s latest economic data was better than expected, but that doesn’t seem to be solving the 18-nation currency’s problems right now. Euro is still struggling in Forex trading, with many thinking that issues in Ukraine represent a risk to the eurozone economy. The latest PMI data and retail sales information paint a somewhat promising picture of improvement for the eurozone. However, even with this new data, there are … “Euro Struggles Even After Positive Economic Data”
USD/JPY: Trading the ISM Services PMI Mar 2014
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers, excluding the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 … “USD/JPY: Trading the ISM Services PMI Mar 2014”
Swissie Loses Shine as Fears Recede
The Swiss franc tumbled today as the improving geopolitical situation made traders to lighten up some of their positions in safe assets, including the Swissie. The Japanese yen, another currency that is perceived to be safe, was even weaker, falling against its Swiss counterpart. The situation in Eastern Europe improved, allowing investors to take a breath and shed some of their positions in safe currencies. The franc fell because of this, but the yen … “Swissie Loses Shine as Fears Recede”
Yen Experiences Massive Sell-Off
The Japanese yen experienced a massive sell-off today as tensions in Eastern Europe eased, improving the sentiment among Forex traders and reducing need for safer currencies, which has supported the yen yesterday. Previously, the Japanese currency was rising as the conflict between Russia and Ukraine was escalating. Today, Russia pulled off troops from its western border with Ukraine and Russian President Vladimir Putin said he has no intention … “Yen Experiences Massive Sell-Off”
US Dollar Index Drops as Risk Appetite Returns
Risk appetite is returning to the markets after risk aversion was the story yesterday. As risk appetite returns, the US dollar index is heading lower. Demand for higher yielding assets is on the rise, and the greenback isn’t keeping up as a result. It’s been an interesting few days on the world stage, and the issues in Ukraine are far from solved, although the receding prospect of war is adding to risk appetite. US dollar index … “US Dollar Index Drops as Risk Appetite Returns”
UK Pound Recovers After Earlier Drop
UK pound is regaining lost ground against the US dollar today. Earlier, sterling fell against the greenback after the release of the latest PMI data. Now, though, the UK pound is gaining against its low beta counterparts as risk appetite soars. The latest economic news out of the United Kingdom was somewhat disappointing, with the Construction PMI at 62.6. Estimates for February had put the PMI at 63.2, so the lower … “UK Pound Recovers After Earlier Drop”