Ten year yields on Italian and Spanish government bonds hit new lows this week as they slipped below 3% suggesting that all is going well in the Eurozone – but is it? Whether or not that’s true has profound implications for the Euro. The out-performance of peripheral Eurozone bond markets, with the convergence trade once … “Is the Eurozone Crisis Really Over?”
Month: May 2014
Polish Zloty Rises Following NBP Decision
The Polish zloty rose today even as the nation’s central bank left interest rates unchanged. Some analysts say that policy makers are reluctant to tighten monetary policy because they are afraid that geopolitical risks could derail Poland’s economic recovery. Still, the central bank’s outlook is relatively optimistic. The National Bank of Poland left its main interest rate at 2.5 percent, keeping other rates … “Polish Zloty Rises Following NBP Decision”
EURUSD: Bullish But Faces Strong Overhead Resistance
EUR rallied to close higher on Tuesday but faces key over head resistance. We are wary of the 1.3966/1.4000 levels. We think the pair might not sustain a break above those levels if seen. In case this occurs expect further upside to happen towards the 1.4050 level and then the 1.4100 level. Its daily RSI … “EURUSD: Bullish But Faces Strong Overhead Resistance”
Kiwi Struggles After Economic Data and RBNZ Comments
The New Zealand dollar is lower today, losing ground as the latest economic data disappoints, and with the latest comments from the Governor of the Reserve Bank of New Zealand. Many expect weakness to be the norm moving forward. Kiwi is falling almost across the board today, thanks in large part to the latest economic data release. The jobs data shows that the unemployment rate in New Zealand remains at 6.0 per cent — … “Kiwi Struggles After Economic Data and RBNZ Comments”
Dollar Ekes Out Gains Ahead of Yellen
US dollar is still near record lows against some of its major counterparts, but it is eking out some gains ahead of Fed Chair Janet Yellen’s testimony in Congress today. The greenback has been struggling recently, thanks to concerns about how the Federal Reserve is likely to move forward on tapering its asset purchase program, as well as when interest rates are likely to rise. Today, … “Dollar Ekes Out Gains Ahead of Yellen”
New Multi-Year Record for GBP/USD After Release of Services PMI
The Great Britain pound jumped today, reaching the new multi-year high versus the US dollar, after the gauge of the UK services industry rose, beating analysts’ expectations. The Markit/CIPS UK Services Purchasing Managers’ Index rose to 58.7 in April up from the March reading of 57.6. The consensus forecast has promised smaller increase to 57.9. This was just one more confirmation that economic recovery in the Unite Kingdom is gaining … “New Multi-Year Record for GBP/USD After Release of Services PMI”
EUR/USD Goes Higher with Help from Economic Data
The euro gained on the dollar today as the set of extremely positive macroeconomic reports for Europe reduced chances for the European Central Bank to add more stimulus at this week’s policy meeting. The currency fell a little versus the Japanese yen and retreated against the Great Britain pound. Data from Spain was especially good, showing a drop of unemployment by as much as 111,600, more than twice the forecast amount. The Markit Spain Services Purchasing Managers’ Index … “EUR/USD Goes Higher with Help from Economic Data”
AUD/USD: Trading the Australian jobs May 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 1:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian jobs May 2014”
Indian Rupee Rises as Elections Come Closer
The Indian rupee advanced today amid speculations that the upcoming elections will bring positive changes that will revive the nation’s economy and make it more attractive for investors. Opinion polls suggest that the main opposition Bharatiya Janata Party may win the elections, which will be held on May 16. There are hopes that such outcome will improve the political and economic climate in the country. The rupee rallied on this … “Indian Rupee Rises as Elections Come Closer”
Australian Dollar Finds Strength After RBA Policy Meeting
The Australian dollar jumped today after the Reserve Bank of Australia conducted its monetary policy meeting and released rather positive statement afterwards. The worse-than-expected trade balance did not hurt the performance of the Aussie to any noticeable degree. The RBA left its main interest rate at 2.5 percent and reiterated its outlook for a period of stable monetary policy: On present indications, the most prudent course is likely to be a period of stability in interest … “Australian Dollar Finds Strength After RBA Policy Meeting”