US dollar is finding support against some of its counterparts today as Forex traders enter “wait and see” mode with regard to what’s next for the global economy and US monetary policy. Greenback is higher against high beta currencies, and lower against the yen. The dollar index is higher today. The US dollar index is higher today, reflecting the gains the greenback is making against its European counterparts, … “US Dollar Finds Support as Traders “Wait and See””
Month: March 2014
Euro Struggles After Trade Data
Euro is struggling a bit today following the release of January’s trade data. The disappointing data is leading to a slightly lower euro, even with the German Constitutional Court upholding the country’s participation in the eurozone bailout fund. The eurozone’s trade surplus for January was much smaller than expected, leading to disappointment about the nature of the region’s economic recovery. Expectations for January’s trade surplus were for 12 billion euros, but the actual result … “Euro Struggles After Trade Data”
Thai Baht Gains as Geopolitical Risks Decline
The Thai baht climbed today as political tensions in Thailand were easing, making the country attractive for overseas investors yet again. The general risk-positive sentiment on the Forex market also played in favor of the currency. Deputy Prime Minister Yukol Limlamthong announced that the emergency decree, which was imposed on January 22, will be lifted before the planned expiration date of March 23. At the same time, the government will continue to use the Internal … “Thai Baht Gains as Geopolitical Risks Decline”
Aussies Slides After RBA Minutes
The Australian dollar declined today after the Reserve Bank of Australia released minutes of its latest monetary policy meeting. The central bank plans to keep interest rates stable for some time, yet at the same time thinks that the currency is too strong and should depreciate to help economic growth. The Australian central bank was optimistic about the economic developments: Domestically, timely indicators were consistent with some improvement in economic … “Aussies Slides After RBA Minutes”
Nicole Elliot and Laith Marmarchi named Persons of the
The people behind ForexTrading.TV won the “Person of the Year 2013” award by FXStreet. Marmarchi and Elliott started their service just one year ago but have already made a significant impact in the world of forex. FXStreet recently awarded various individuals and companies for their forex activities. For more about the achievement of the Forex … “Nicole Elliot and Laith Marmarchi named Persons of the”
UK House Prices Surge to Record, Sterling Remains Without Direction
The Great Britain pound was without clear direction yesterday and is still unsure where to go today even though domestic fundamentals were very supportive to the currency. The sterling rose against the Japanese yen, fell versus the euro and traded sideways against the US dollar. The Rightmove House Price Index climbed 1.6 percent in March. The average asking price for property reached the new record high of £255,962. The report eased worries … “UK House Prices Surge to Record, Sterling Remains Without Direction”
Dollar Mixed Despite Supportive Data
The US dollar fell against the euro today even though macroeconomic reports from the United States were relatively good. The greenback was able to rise against the Japanese yen as the market sentiment was not in favor of the Japanese currency. The New York manufacturing index rose from 4.5 in February to 5.6 in March. The report indicated that “business conditions continued to improve for New York manufacturers, though activity grew slowly”. Industrial … “Dollar Mixed Despite Supportive Data”
Can Dollar Turn Bearish Trend into Bullish?
The US dollar did not fare well last week as Forex traders demonstrated appetite for risky currencies despite worrisome news from China and Ukraine. Can the greenback turn the bearish trend into bullish this week? Possibly. The most important event that should drive the FX market and the US currency in particular this week is the monetary policy meeting of the Federal Reserve on March 19. Economists speculate whether the Fed … “Can Dollar Turn Bearish Trend into Bullish?”
Yuan Drops as PBoC Widens Trading Band
The Chinese yuan slipped today after the nation’s central bank allowed greater exchange rate flexibility, widening the trading band for the currency. The drop may help to bolster the weakening Chinese economy, increasing profits from overseas trade. The People’s Bank of China extended the trading range to 2 percent on either side of a daily reference rate, while previously it was at 1 percent. It was the first move to increase exchange rate … “Yuan Drops as PBoC Widens Trading Band”
Aussie Jumps as Westpac Drops Interest Rate Cut Forecast
The Australian dollar jumped today as Westpac Banking Corp. said that it no longer expects an interest rate cut from the Reserve Bank of Australia. Such comments boosted the currency even though there are analysts who still expect lower borrowing costs in the South Pacific country. Bill Evans, Westpac chief economist, said: Previously we expected that rates would be reduced by 25 basis points … “Aussie Jumps as Westpac Drops Interest Rate Cut Forecast”