US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bullish for the Japanese yen. Update: US jobless claims fall to 283K – better than expected Here are all … “USD/JPY: Trading the US jobless claims Feb 2015”
Month: February 2015
A strong dollar is unlikely to delay the Fed – SEB
The general notion is that the Federal Reserve is on track to hike in 2015, with June and September serving as the main time candidates. But can the strength of the greenback, weighing on inflation and exports delay the central bank from raising the interest rate? The team at SEB weighs in: Here is their view, … “A strong dollar is unlikely to delay the Fed – SEB”
GOLD: Weakens, Eyes The 1,216.00 Level
With GOLD seen selling off on Tuesday, further downside pressure is now envisaged. On the downside, support comes in at the 1,216.00 level where a break will aim at the 1,200.00 level. Below here if seen could trigger further downside towards the 1,180.00 level where a break will aim at the 1,160.00 level. Its weekly … “GOLD: Weakens, Eyes The 1,216.00 Level”
US Dollar Trades Mixed as Dollar Index Falls
US dollar is trading mixed today, heading higher against some currencies, but losing ground to others. The dollar index is lower today, thanks in large part to a surge in value by the euro. Dollar index is lower today as the greenback trades mixed against its counterparts. Some of the pullback in the dollar can be attributed to correction. US dollar has been stronger in the last year, and that is starting to put … “US Dollar Trades Mixed as Dollar Index Falls”
Euro Recovers Earlier Losses on Hopes for Greek Talks
After Greek talks broke down earlier, the euro plunged against most of its major counterparts. However, the 19-nation currency has recovered and moved higher as investors and Forex traders take a step back and re-evaluate the situation. Euro is mostly higher right now, after plunging dramatically earlier in the session. The drop to the euro was precipitated by a breakdown in talks over what to do about the Greek bailout. With talks breaking down, … “Euro Recovers Earlier Losses on Hopes for Greek Talks”
GBP/JPY Faces Downside Pressure
GBPJPY: The cross strengthened further the past week and followed through lower on Monday. On the downside, support comes in at the 181.00 level where a violation will aim at the 180.00 level. A break below here will target the 179.00 level followed by the 178.00 level. Further down, support lies at the 177.00 level. … “GBP/JPY Faces Downside Pressure”
EURUSD: Remains Weak And Targeting Further Decline
EURUSD: Having weakened on Monday, it now faces its broader downside pressure as long as it trades below the 1.1533 level. Support is seen at 1.1300 level with a cut through here opening the door for more downside towards the 1.1269 level. Further down, support lies at the 1.1200 level where a break will expose … “EURUSD: Remains Weak And Targeting Further Decline”
Australian Dollar Hurt by Lackluster Motor Vehicle Sales
The Australian dollar was neutral-to-lower today as nation’s macroeconomic data was lackluster, making the currency unable to profit from the strong performance of the commodity market. Performance of the Australian currency often tracks moves of prices for raw materials as Australia is an export-oriented economy, and commodities performed well today across the board. Yet the Aussie found no support from that fact as domestic fundamentals were detrimental to the currency. The Australian Bureau of Statistics reported … “Australian Dollar Hurt by Lackluster Motor Vehicle Sales”
NZ Dollar Gains on Positive Retail Sales Data
The New Zealand dollar started the week strong, rallying to the highest level in three weeks against its US counterpart and the Japanese yen. The currency got help from solid retail sales from New Zealand. New Zealand’s retail sales were up 1.7 percent in the fourth quarter of the last year from the previous three months, beating analysts’ projections. The core component of sales grew 1.5 percent, also beating expectations. … “NZ Dollar Gains on Positive Retail Sales Data”
Japanese Yen Gains After GDP Report
Even though the GDP report for Japan wasn’t as optimistic as hoped for, there is evidence of recovery, and that is helping the yen a little bit today in Forex trading. Yen is higher against its major counterparts. The latest GDP report from Japan indicates that the annualized growth rate for the economy was at 2.2 per cent in the three months through December. While this indicates that the Japanese economy continues … “Japanese Yen Gains After GDP Report”