The ISM Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Update: A big disappointment with 51.5 points. … “USD/JPY: Trading the US ISM Manufacturing April 2015 outlook”
Month: April 2015
GBP/USD could lose ground in May – ANZ
It’s not only the elections that could make a mess out of cable, but also seasonality. The US dollar has a tendency to rise in May while GBP has a tendency to slide during this month. The team at ANZ examines seasonality for various currencies: Here is their view, courtesy of eFXnews: “Our seasonality analysis … “GBP/USD could lose ground in May – ANZ”
The Currency of the Midnight Sun
Norway has an effectively managed and efficient export economy. Norway ranks third in natural gas exports and 7th in oil exports. Norway’s oil production company, Statoil, is 70% state owned and provides the country with 30% of total export revenues. Nearly 100% of Norway’s internal power consumption is satisfied by renewable resources: over 98% from … “The Currency of the Midnight Sun”
Dollar Stays Flat After Turbulent Trading
The US dollar was hurt yesterday by a report that showed the US economy almost grinding to a halt. The currency relieved some of its wounds after the Federal Reserve released its policy statement that was relatively optimistic. Today, the dollar stays flat as traders digest the news. The Fed statement admitted that economic data was poor lately but attributed this partly to temporary factors: Information received since the Federal … “Dollar Stays Flat After Turbulent Trading”
EUR/USD broke out of wide range – is it the real thing?
EUR/USD is hugging 1.11 at the time of writing. This is above the 1.1050 level that capped its wide range trading. It already reached 1.1186 earlier in the day. The move was certainly decisive and leaned not only on the obvious USD weakness but also on some euro strength. Nevertheless, the question must be asked: … “EUR/USD broke out of wide range – is it the real thing?”
Does the Fed see the US consumer going on a
The Fed statement was relatively upbeat and optimistic about the US economy, blaming the Q1 weakness on the weather and leaving the hands of the Fed fully free to act – there is no more forward guidance of any sort. Looking a bit closer into the statement, we can find a hint about why the Fed leans to … “Does the Fed see the US consumer going on a”
Great Britain Pound Logs Gains After Economic Data
The Great Britain pound rallied today, reaching the strongest level in a month versus the US dollar, as macroeconomic data from the United Kingdom was relatively positive. The softness of the US currency added to the upside momentum of the sterling. The Nationwide House Price Index rose 1 percent in April versus the meager increase by 0.1 percent during the previous month. At the same time, Confederation of British Industry reported that growth of retail sales slowed. Yet … “Great Britain Pound Logs Gains After Economic Data”
NZ Dollar Recovers After Earlier Losses
The New Zealand dollar logged gains against its US counterpart and the Japanese yen (update: the NZ dollar retreated back to the opening level versus the yen), carried higher by the greenback’s weakness. Earlier, the New Zealand currency declined due to the mixed macroeconomic data from the South Pacific country. New Zealand imports fell while exports rose in March, resulting in the trade surplus of NZ$631 million — bigger than was predicted by analysts. … “NZ Dollar Recovers After Earlier Losses”
Loonie Weakens After Yesterday’s Surge
Canadian dollar is weaker today, following yesterday’s somewhat surprising surge. There are some factors supporting the loonie in the short to medium term, so the currency might get another chance later. Yesterday, the loonie popped a bit against its major counterparts. Today, the currency appears to be weakening against those currencies. Oil is down again (although it remains in the mid-50s per barrel), and some Forex traders … “Loonie Weakens After Yesterday’s Surge”
Euro Struggles Against Its Major Counterparts as Traders Wait for News
Euro is struggling against its major counterparts today as Forex traders wait for news out of the United States. Many are waiting to see what the Federal Reserve will announce about policy going forward, as well as weighing recent events in the eurozone. After moving a bit higher against many of its counterparts, the euro is now struggling. Euro reached above 1.10 against the US dollar earlier in the session but … “Euro Struggles Against Its Major Counterparts as Traders Wait for News”