The first important economic report from Great Britain for this week, inflation data, was released and it turned out to be better than expected. As a surprising twist, the pound sank after the positive report, though it is attempting to recover as of now. The sterling gained on the dollar, was flat versus the Japanese yen and fell against the euro. The Consumer Price Index rose 1.8 percent in April, up from 1.6 percent … “GBP Surprises Forex Traders, Falling After Good CPI”
Month: May 2014
Aussie Experiences Weakness After RBA Minutes
The Australian dollar dropped today, touching the lowest level since March against the Japanese yen, after the Reserve Bank of Australian released minutes of its latest policy meeting. While the minutes mentioned some positive developments, there were enough dovish comments to drive traders away from the Australian currency. Among pessimistic statements, the minutes mentioned subdued employment growth: While a range of indicators suggested that conditions in the labour market … “Aussie Experiences Weakness After RBA Minutes”
Week That Should Be Important for British Currency
The Great Britain pound experienced weakness last week, faltering after an impressive rally versus the US dollar. This week is full of important events and may determine the performance of the sterling in the near future. The major reason for the currencyâs weakness was the Inflation Report released by the Bank of England, which damped hopes for an early interest rate hike. The BoE will release minutes of its last monetary policy meeting on May 21. While … “Week That Should Be Important for British Currency”
EURGBP- Recovers But With Warning
EURGBP- With the cross extending its decline the past week, the risk is for more downside to occur. Though seen recovering higher during early Monday trading today, its broader downside view remains intact. Immediate support lies at the 0.8126 level where a violation will aim at the 0.8100 level where a violation will turn attention … “EURGBP- Recovers But With Warning”
Euro Recovers with No Help from Fundamentals
The general market sentiment and domestic fundamentals were not supportive for the euro at all. And this makes it very surprising to see the shared 18-nation currency relatively strong today, rising against some of its major peers. The market sentiment was in a risk-off mode, favoring safer currencies as a result. This made the euro lose versus the yen, but did not prevent it to gain on such majors as the Great Britain pound and even … “Euro Recovers with No Help from Fundamentals”
Yen Starts Week Strong as Traders’ Sentiment Favors Safety
The Japanese yen started the week strong against other most-traded currencies as the market sentiment favored safer assets, making the yen a desirable currency to have. The currency trimmed its gains as of now but retained its strength. For whatever reason, traders were not particularly optimistic at the start of this week. This helped the yen to rally against various currencies, including the New Zealand dollar and the Great Britain pound. The stock market was … “Yen Starts Week Strong as Traders’ Sentiment Favors Safety”
US Dollar Falls Back After Chinese Data
US dollar is heading lower today, falling back after the latest Chinese data. Growth concerns in China are weighing on the markets, but that isn’t helping the greenback. Instead, the US dollar is lower almost across the board. The latest Chinese data has many investors and Forex traders concerned about what’s next. However, this isn’t prompting gains for the US dollar as a safe haven. Instead, the greenback is … “US Dollar Falls Back After Chinese Data”
Pound Starts Week Soft Despite Record House Prices
The Great Britain pound has started this week on a weak footing despite very good housing data that showed record growth of home prices. It looks like the traders’ sentiment was not in favor of currencies that are perceived to be relatively risky. The Rightmove House Price Index rose 3.6 percent in May instead of growing by 2.6 percent as was predicted. The report said that it was “the largest … “Pound Starts Week Soft Despite Record House Prices”
NZD Gains on USD with Help of Economic Data, Fails vs. JPY
Fundamental data from New Zealand was positive today, allowing the New Zealand dollar to rally against its US counterpart. The currency remained weak versus the Japanese yen. The output Producer Price Index rose 0.9 percent in the first quarter of 2014 from the previous three months, while the input PPI increased 1.0 percent. Both figures were about twice above the forecast values. The New Zealand dollar had … “NZD Gains on USD with Help of Economic Data, Fails vs. JPY”
GBP/USD: Trading the British CPI May 2014
British CPI, which is released each quarter, is an inflation index which measures the change in the price of goods and services charged to consumers. 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 8:30 GMT. Indicator … “GBP/USD: Trading the British CPI May 2014”