Today’s trade data from China helped many currencies of emerging markets, especially Asian ones. The South Korean won was among winners, rising against the US dollar, which continues to struggle after it has halted its rally. While the Chinese trade balance was somewhat disappointing to economists, the data was not entirely bad and was well-received by market participants, allowing riskier currencies to rally. China is … “South Korean Won Joins Rally After China’s Data”
Month: October 2014
Australian Dollar Rises on China’s Trade Data
The Australian dollar rose as today’s trade data from China was generally well-received by Forex market participants, leading to fairly positive outlook for Australia’s economy that depends on trading with its Asian partner strongly. The balance of China’s imports and exports resulted in the surplus of $31 billion in September. While the figure was below analysts’ expectations and the previous month’s reading, the excess more than doubled from the same period a year ago. … “Australian Dollar Rises on China’s Trade Data”
Are World Events Messing With Your Forex Trades?
If you are not keeping up with what is happening around the world on a daily basis, your Forex account will suffer. Natural disasters, wars, and even massive loss of crops overseas can affect the currency pairs you work with. To avoid losing your money because of an earthquake in Chile, you have to pay … “Are World Events Messing With Your Forex Trades?”
The impact on the UK economy if Scotland had voted Yes
European shares skidded on Friday, largely helped by a one-year low of Germany’s DAX that was impacted by German exports being at their lowest since January 2009 and wiped out the sterling’s two year high against the euro after Scotland voted no. But what would have happened if Scotland had said yes? Hantec Markets are … “The impact on the UK economy if Scotland had voted Yes”
EURUSD: Recovers Higher On Correction
EURUSD: Except EUR returns above the 1.2791 level, it faces a possible reversal of its corrective recovery triggered the past week. Support lies at the 1.2550 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2300 level. If this continues, expect further downside … “EURUSD: Recovers Higher On Correction”
EUR: On The Rocks Again; USD: A Jolt Coming For
The euro zone is suffering from weakness, but is it already priced into the value of the euro? And in the US, what does the JOLTS data tell us about a rate hike in the US? Here is what the team at CIBC sees for this week: Here is their view, courtesy of eFXnews: USD: … “EUR: On The Rocks Again; USD: A Jolt Coming For”
Dollar Logs Weekly Loss After Long Rally
The US dollar demonstrated a weekly loss for the first time in many weeks. Yet the drop was not as big as it might have been as the risk-negative market sentiment helped the US currency to regain part of its strength by the weekend. The dollar started the week soft following the big jumps after the positive non-farm payrolls report at the end of the previous week. The greenback was attempting to gain ground, but minutes of the September policy meeting of the Federal … “Dollar Logs Weekly Loss After Long Rally”
Brazilian Real Ends Session with Losses
The Brazilian real ended today’s session with losses due to concerns that a new president will not be able to form a strong enough government to tackle country’s economic problem. The general risk-negative market sentiment also did not play in favor of the currency. Incumbent President Dilma Rousseff contests for the seat with Minas Gerais Senator Aecio Neves in the second round of presidential elections. Current polls show that votes … “Brazilian Real Ends Session with Losses”
Canadian Dollar Loses Steam After Initial Gains
The Canadian dollar advanced today with the help of an impressive employment report that beat analysts’ projections by a wide margin. The currency retained its gains against the euro but was unable to maintain the rally versus the the US dollar and yen and will likely close below the opening level against these currencies. Canada’s employment data, unlike Australia’s one, was really good, helping the loonie to log gains. Canadian employers added … “Canadian Dollar Loses Steam After Initial Gains”
Second Session of Losses for Aussie due to Economic Data
Poor economic data from Australia led to the second session of losses for the Australian dollar today. The currency attempted to gain ground but was unsuccessful so far, though it trimmed its losses. The number of home loans fell 0.9 percent in August from July when it rose 0.3 percent. Analysts counted on a 0.2 percent increase. Yesterday’s employment data from Australia was also totally devastating for the Aussie. … “Second Session of Losses for Aussie due to Economic Data”