Today, the US dollar was hurt by negative economic data yet again as the consumer confidence deteriorated unexpectedly this month. The greenback is attempting to hold against the Japanese yen but lost ground to other most-traded peers, including the euro and the Great Britain pound. Conference Board reported that the consumer confidence index fell to 95.2 in April from 101.4 in March while experts promised an increase to 102.6. Other macroeconomic indicators … “Dollar Loses Ground as Consumer Confidence Turns Sour”
Month: April 2015
Yuan Climbs vs. Dollar Despite Stimulus Speculations
The Chinese yuan rose against the US dollar today even though speculations about monetary stimulus from the central bank put pressure on the currency. There were reports that the People’s Bank of China is going to start buying the local government’s debt in an effort to reignite economic growth. It is unlikely that the central bank will resort to a full-fledged quantitative easing as monetary conditions remain relatively tight, giving policy … “Yuan Climbs vs. Dollar Despite Stimulus Speculations”
GBP/USD: Builds Up On Strength
GBPUSD: With GBP maintaining above its broken resistance turned support at the 1.5166 level, it faces further bullish offensive. However, watch out for any pullback risk of its recent strength. On the downside, support lies at the 1.5200 level where a break if seen will aim at the 1.5150 level. A break of here will … “GBP/USD: Builds Up On Strength”
Aussie Gains Ground After US Data Release
Aussie is gaining ground today, but it’s not as much about strength Down Under as it is about weakness in the United States. Australian dollar is higher today, gaining against the US dollar and its European counterparts. The US dollar is taking a hit because of recent data that indicates that the US economy might not be growing as quickly as expected. With this in mind, there are … “Aussie Gains Ground After US Data Release”
Euro Surges as Greece Hopes are Renewed
New hopes for a way for Greece to find the money it needs to keep going — and remain part of the eurozone — are boosting the euro today. The 19-nation currency is near a three-week high against the US dollar, and gaining ground against other major counterparts as well. Many Forex traders and others are finding hope in the news that Greek Prime Minister Alexis Tsipras has made changes to his negotiating team in an attempt to downplay … “Euro Surges as Greece Hopes are Renewed”
Yen Attempts to Rally vs. Dollar Despite Credit Rating Cut
Fitch Ratings downgraded Japan’s sovereign credit rating yesterday. Despite the negative news, the Japanese yen is trying to rally against the US dollar today. Against other major currencies, like the euro and the Great Britain pound, the yen is weak. Fitch slashed the nation’s credit grade by one notch from A+ to A. The agency cited among reasons for the decision following consideration: Fitch’s downgrade reflects the fact that the Japanese … “Yen Attempts to Rally vs. Dollar Despite Credit Rating Cut”
UK Economic Growth Drops Sharply, Sterling Under Pressure
Today’s data from Great Britain revealed that the nation’s economy grew two times less than was predicted by experts. The pound dropped sharply as a result on the news. The currency managed to bounce against the US dollar but remained below the opening level versus the euro (though the sterling is attempting to recover currently). Gross domestic product of the United Kingdom rose 0.3 percent in the first quarter of 2015 after increasing 0.6 … “UK Economic Growth Drops Sharply, Sterling Under Pressure”
EUR/USD: Trading the US GDP April 2015
US Advance GDP is a key release and is published each quarter. Advance GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 … “EUR/USD: Trading the US GDP April 2015”
Tradesq: managing and optimizing trading strategies
Tradesq is a newly launched software that enables traders to plan a trade and set the key parameters and then manage it, independent of the broker or brokers you are using. Here is an overview of what the software and a video that shows it in action. This includes the all important and sometimes elusive money management: the … “Tradesq: managing and optimizing trading strategies”
FOMC Preview – 5 keys to look out for
The Federal Reserve convenes for a meeting that does not consist of new forecasts nor a press conference. In addition, no policy change is expected, and these expectations are a result of the Fed’s explicit wording in the last meeting. Update: Fed decision boosts USD that sees through Q1 weakness So, does this imply an a boring event? … “FOMC Preview – 5 keys to look out for”