The New Zealand dollar was moving down for the most part of Wednesday’s trading session but bounced sharply after the central bank maintained interest rates unchanged and promised a period of stable monetary policy. As was expected, the Reserve Bank of New Zealand kept its main interest rate (the Official Cash Rate) at 3.5 percent today. Governor Graeme Wheeler said in the accompanying statement: The domestic economy remains strong. At the same time, … “NZ Dollar Rebounds After RBNZ Stays Put”
Month: March 2015
How’s your broker’s spread in February? Detailed data for
TradeProofer is a forex trader community where members can benchmark their broker’s quote and trade execution against other members’ brokers. TradeProofer release monthly reports on broker spreads to summarize how the community saw brokers’ spreads. This time we focus on February. The charts show spread distribution of each broker for a selection of 10 currency pairs. … “How’s your broker’s spread in February? Detailed data for”
Australian Dollar Fails to Bounce, Plenty of Reasons to Extend Decline
The Australian dollar bounced after reaching the lowest level since May 2009 against its US counterpart earlier today. Still, analysts think that there are plenty of reasons for the Aussie to resume its decline, and the currency indeed is dropping right now. Today’s economic data from Australia and China was lackluster, giving the Australian currency no reason to rally. The strength of the US dollar is another detrimental factor … “Australian Dollar Fails to Bounce, Plenty of Reasons to Extend Decline”
UK Production Output Disappoints, Sterling Unfazed
The Great Britain was flat against the US dollar today after economic data from the United Kingdom did not match expectations, being weaker than it was forecast. At the same time, the sterling managed to rally against some other major currencies, including the euro. Both industrial and manufacturing production fell in January from the previous month even though economists predicted a 0.2 percent increase for both indicators. Meanwhile, … “UK Production Output Disappoints, Sterling Unfazed”
Loonie Gains Against European Currencies, Loses to Greenback
Canadian dollar is trading mixed today, gaining against the major European currencies, but heading lower against the US dollar. Loonie is in an interesting position today. The Canadian dollar is heading higher against the euro and the UK pound today. The Canadian economy is still considered relatively strong, while the eurozone continues to flounder and wrestle with Greece. Additionally, the Bank of Canada is likely to make a move to raise rates … “Loonie Gains Against European Currencies, Loses to Greenback”
US Dollar Continues to Surge
US dollar is ascendant today, thanks to almost every bit of news out there right now. Rumors of a Fed rate hike, the slide in oil, and the huge drop in US stocks yesterday are all contributing to a strong greenback today. Yesterday was a big day in the financial world, and almost everything contributed to a stronger US dollar. The US dollar is rallying almost across the board as Forex traders and analysts speculate that … “US Dollar Continues to Surge”
AUD/USD: Trading the Australian jobs Mar 2015
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian jobs Mar 2015”
EURJPY: Bear Risk Builds Up On The 130.14 Level
EURJPY- With the cross seen reversing its Monday losses on Tuesday, a retake of its key support standing at the 130.14 level is likely. On the downside, support comes in at the 130.14 level where a break will aim at the 129.00 level. A turn below here will target the 128.00 level with a breach … “EURJPY: Bear Risk Builds Up On The 130.14 Level”
NZ Dollar Lower Ahead of RBNZ Policy Statement
The New Zealand dollar was falling today as uncertainty ahead of tomorrow’s central bank’s policy statement and the strength of the US dollar made traders avoid the New Zealand currency. The Reserve Bank of New Zealand will conduct its policy meeting and will release the accompanying statement by the end of tomorrow’s trading session. While no change to policy is expected, traders are still worried about potential wording in the policy announcement as the previous … “NZ Dollar Lower Ahead of RBNZ Policy Statement”
Euro Continues to Lose Ground to Major Currencies
Euro continues to struggle as concerns about Greece overshadow the entire eurozone. Euro has hit 10-year lows against the US dollar and seven-year lows against the UK pound. Euro is heading lower today, losing ground against nearly all of its major counterparts. Concerns about the Greek situation continue to weigh on the 19-nation currency. Even though Greece has been given a lifeline, very little progress has been … “Euro Continues to Lose Ground to Major Currencies”