AUDUSD: Having failed to hold on to its intraday gains and turning lower on Wednesday, further downside is envisaged. On the downside, support lies at the 0.8700 level. A cut through here will turn attention to the 0.8650 level and then the 0.8600 level where a violation will set the stage for a retarget of … “AUDUSD: Declines, Targets Further Downside.”
Month: October 2014
Data Helps Euro Pare Some of Its Losses
Euro is falling against its major counterparts today, but some of the losses are being pared, thanks to the latest data releases. Some of the regions of the eurozone are reporting progress, and that is reducing some of the difficulty with the euro. The latest data out of the eurozone, while not spectacular, at least shows some progress. Germany saw a drop in the number of people unemployed this month, even though the unemployment rate remains … “Data Helps Euro Pare Some of Its Losses”
Canadian Dollar Trades Mixed Against Major Counterparts
Canadian dollar is trading mixed today, thanks to the latest comments from central bankers. Information from the Federal Reserve, as well as testimony from the Bank of Canada’s Stephen Poloz, are contributing to the loonie’s losses to the US dollar. The Canadian dollar is moving lower today against the US dollar, but still has the upper hand against the euro. Loonie is heading lower against the greenback after the release of a statement from … “Canadian Dollar Trades Mixed Against Major Counterparts”
Did US Treasury Secretary Lew hint of a strong GDP
Top officials receive economic data before everybody else does. That’s no secret. And when it’s good news, they cannot always keep it secret. This happened in the US as recently as just before the last Non-Farm Payrolls report, as both FOMC member James Bullard and US President Barack Obama gave us strong hints about the unemployment … “Did US Treasury Secretary Lew hint of a strong GDP”
EUR/USD: Trading the Eurozone CPI Oct 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 Friday at 10:00 GMT. Indicator Background … “EUR/USD: Trading the Eurozone CPI Oct 2014”
Are US wage hikes around the corner? March hike on
The Fed surprised with a hawkish view on employment, acknowledging the “solid gains”. We all know that, and it’s nice that the Fed finally sees it as well. But the one important thing missing from jobs reports was a gain in wages: people are getting back to work but wages remain depressed, weighing on the overall … “Are US wage hikes around the corner? March hike on”
EUR/USD Post-FOMC: The Signal & The Strategy – Nomura
The Fed was hawkish and the effect is felt many hours after the big announcement. For EUR/USD it meant a big breakdown. Can it continue lower? The team at Nomura lays out the strategy: Here is their view, courtesy of eFXnews: Nomura is out with a note discussing some thoughts on the signal from the October FOMC … “EUR/USD Post-FOMC: The Signal & The Strategy – Nomura”
NZD Sinks After Fed & RBNZ Policy Announcements
The New Zealand dollar, as well as other currencies, dropped against its US counterpart yesterday after the Federal Reserve ended the third round of quantitative easing. The outlook for a period of stable interest rates in New Zealand itself was not helping the currency either, resulting in further drop at the current trading session. As was expected, the Reserve Bank of New Zealand kept its main interest rate at 3.5 percent. The central bank mentioned … “NZD Sinks After Fed & RBNZ Policy Announcements”
FOMC Announces End to QE3, Dollar on the Rise
The US dollar jumped against other most-traded currencies today after the Federal Open Market Committee ended the third round of quantitative easing and issued rather hawkish statement after the decision. As was widely expected, the FOMC decided to wrap up its asset-purchase program at this month’s meeting, not waiting for the next month. The major driver for such decision was signs of strength in the US labor market. The Committee explained: Information received … “FOMC Announces End to QE3, Dollar on the Rise”
NZ Dollar Rallies Ahead of Policy Decisions
Positive consumer confidence data allowed the New Zealand dollar to rally ahead of policy decisions from the Federal Reserve and the Reserve Bank of New Zealand. The ANZ Business Confidence index climbed from 13.4 in September to 26.5 in October. While the figure was well below this year’s highs, it was still a very good reading, suggesting that the economy experiences robust growth. The Fed will announce its policy decision … “NZ Dollar Rallies Ahead of Policy Decisions”