The US dollar demonstrated somewhat mixed performance this week but retained its strength for the most part. Many market analysts consider this as a sign that traders are strongly convinced in inevitability of an interest rate hike from the Federal Reserve. While some analysts were not sure if the dollar would be able to maintain its rally, the currency continued to rise against most of its major peers. The notable … “Dollar Retains Strength Ahead of FOMC Week”
Month: September 2014
Aussie Experiences Terrible Week
The Australian dollar experienced a terrible week, falling for four days in a row against the Japanese yen and for every single day of the week against its US and New Zealand counterparts as well as the euro. Even Thursday’s positive employment data was not able to provide support for the currency. Australian employment demonstrated huge employment growth of 121,000 in August (seasonally adjusted), which was far bigger than the predicted 15,200. As a result, the unemployment rate … “Aussie Experiences Terrible Week”
USD Rises vs. JPY on Economic Data, Loses Ground to EUR & GBP
The US dollar rose against the Japanese yen today as positive economic reports from the United States continued to fuel expectations of tighter monetary policy from the Federal Reserve. At the same time, the greenback slipped versus the euro and the Great Britain pound. US retail sales grew 0.6 percent in August, exceeding analysts’ projection of 0.3 percent growth. The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose from 82.5 in August … “USD Rises vs. JPY on Economic Data, Loses Ground to EUR & GBP”
NZ Dollar Ends Week Very Soft
The New Zealand dollar was extremely soft this week, and the current trading session was not an exception. The currency fell against its major peers even though economic data from New Zealand was rather positive. Business NZ reported that the seasonally adjusted manufacturing Purchasing Managers’ Index rose from 53.5 in July to 56.5 in August. It was the strongest level in five months. The report noted that … “NZ Dollar Ends Week Very Soft”
EUR/USD: Trading the UoM September 2014
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and is bullish for the US dollar. Update: US Consumer Sentiment jumps to 84.6 in August Here are all the details, and 5 possible outcomes … “EUR/USD: Trading the UoM September 2014”
Is the Euro Still too Strong?
Euro has weakened quite a bit recently, but, even so, some European policymakers believe that the 18-nation currency is still too strong. A strong euro is likely to hinder the eurozone economic recovery, and that is just what some policymakers think is happening now. In spite of efforts from the ECB to stimulate the economy and weaken the euro, some think that the 18-nation currency remains too strong. Yesterday, … “Is the Euro Still too Strong?”
Markets Risk Aversion from Gold Triple Bottom?
Equities are clearly at or near their all time highs. Remember taking the roller coaster? The part where you slowly go higher and higher is the scariest isn’t it? Historically, Bullion is a hedge against inflation, as well as an indicator of risk aversion. Which is why in the chart below, Gold continued to stay … “Markets Risk Aversion from Gold Triple Bottom?”
UK Pound Sees Slight Gains
UK pound is seeing slight gains today, perhaps in correction for recent difficulties, which are the result of concerns over what’s next for Scotland. Even though the sterling is higher, the gains are precarious, as the Scottish independence vote injects uncertainty into the situation. There are serious concerns about the UK pound and how it might function if Scotland does vote to break free. Recently, Bank of England Governor … “UK Pound Sees Slight Gains”
Canadian Dollar Pulls Back a Bit After Housing Starts Data
The latest housing starts data was a bit disappointing, and the result offset some of the better news out of Canada about building permits. Concerns about the housing market continue to weigh, and the continued pressure on oil prices isn’t helping the loonie, either. Loonie is a little bit lower against many of its counterparts today, thanks to the latest housing data. While the losses are quite tiny, they are still there, and a lot … “Canadian Dollar Pulls Back a Bit After Housing Starts Data”
FX aggregator Quotix acquired by FxPro
FxPro acquires Quotix, enabling it better control on liquidity and improves its position in the institutional field. Here is the official press release: 11 September 2014, London. FxPro Group Ltd (FxPro) has acquired spot FX aggregator Quotix, in a move that gives the company full control over the provision of its FX liquidity and allows it … “FX aggregator Quotix acquired by FxPro”