Join me for a webinar towards the all-important ECB decision on Tuesday, June 3rd, at 14:00 GMT, courtesy of FXStreet. After Mario Draghi released his thick hint in May, the euro suffered and everybody is now expecting the ECB to act. But what exactly will they do? Is a rate cut already priced in? What scenarios … “Webinar invitation: Preparing for the big ECB decision with”
Month: June 2014
Australian Dollar Firmer as RBA Does Not Act
The Australian dollar advanced today after the Reserve Bank of Australia refrained from action and reiterated that monetary policy will likely remain the same for a prolonged period of time. As was expected, the RBA left its main interest rate at 2.5 percent at today’s policy meeting. The central bank maintained the same outlook for monetary policy as before: On present indications, the most prudent course is likely to be a period of stability in interest rates. … “Australian Dollar Firmer as RBA Does Not Act”
EUR/USD: Trading the Eurozone CPI Jun 2014
Eurozone CPI Flash Estimate 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 euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 9:00 GMT. Update: Euro-zone inflation … “EUR/USD: Trading the Eurozone CPI Jun 2014”
Aussie Drops as Domestic Data Outweighs China’s Report
The Australian dollar fell yesterday and remained soft today, even though the Aussie trimmed its losses against some currencies. The good manufacturing report from China was not able to help the Australian currency as domestic data was not particularly supportive. The government report showed that the number of building permits fell 5.6 percent in April from March in Australia instead of rising 2.1 percent as was predicted by analysts. Other … “Aussie Drops as Domestic Data Outweighs China’s Report”
Dollar Gains as Manufacturing Sector Grows with Faster Pace
The US dollar rallied today as the manufacturing index showed that growth of the sector accelerated last month. The data confirmed that the US economy is recovering, giving incentive for the central bank to reduce monetary accommodation and start tightening earlier. The manufacturing index of Institute for Supply Management rose from 54.9 percent in April to 55.4 percent in May. The reading was slightly below the forecast of 55.7 but it was still above the neutral … “Dollar Gains as Manufacturing Sector Grows with Faster Pace”
USD/JPY and Markit emerge as winners from ISM mess up
The Institute for Supply Management (ISM) apparently used the wrong seasonal adjustment numbers for the calculation of the ISM Manufacturing PMI and initially reported a significantly weaker than expected figures: only 53.2 points. An initial correction sent the number shooting up to 56 points and a second correction to 55.4 points, quite close to 55.7 expected. This incident … “USD/JPY and Markit emerge as winners from ISM mess up”
GBP Falls vs. USD, Rises vs. JPY After Manufacturing Report
Today’s data about Britain’s manufacturing sector left mixed feeling in Forex traders, resulting in a drop of the Great Britain pound against the US dollar but an advance versus the Japanese yen. The Markit/CIPS Purchasing Managersâ Index fell from 57.3 to 57.0 in May, slightly below the forecast of 57.1. At the same time, the report said that the index “again registered one of its highest readings in the survey history”. The pound is especially vulnerable … “GBP Falls vs. USD, Rises vs. JPY After Manufacturing Report”
Real Drops as Outlook for Brazilian Economy Worsens
The Brazilian real fell today as analysts surveyed by Brazil’s central bank downgraded their growth forecast for this year as well as the outlook for the exchange rate and for the key interest rate. The Central Bank of Brazil showed in its report that the median forecast for growth of gross domestic product was scaled down to 1.50 this week from 1.63 last week. Additionally, it is expected that the main rate will remain at 11.00, … “Real Drops as Outlook for Brazilian Economy Worsens”
GBPJPY: Strengthens, Threatens Further Upside
GBPJPY – The cross followed through higher on the back of its Friday strength during Monday trading session today. This leaves the risk of further upside towards the 171.50 level where a violation will pave the way for a move higher towards the 172.00 level. A decisive break and hold above here will open the … “GBPJPY: Strengthens, Threatens Further Upside”
Forex Crunch Key Metrics May 2014
The month of May, which usually sees above average traffic, did not shine this time. While there was an advance from April, page views fall short of May 2013. The lack of market volatility, despite the fall of the euro early in the month is certainly to blame. Perhaps Draghi will create a bigger stir … “Forex Crunch Key Metrics May 2014”