British Services PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound. Update: UK services PMI only 55.6 – GBP/USD falls Here are all the details, … “GBP/USD: Trading the British Services PMI Sep. 2015”
Month: September 2015
Aussie Tries to Hold Ground After Touching Multi-Year Low
The Australian dollar was attempting to rally at the start of the Wednesday’s trading session but failed, dragged down by slower-than-expected growth of Australia’s economy. The currency is trying to hold ground as of now after dipping to a new multi-year low against the US dollar earlier. Australian gross domestic product grew 0.2 percent in the second quarter of this year. The expansion was slower than the first quarter’s 0.9 percent and the forecast 0.4%. The poor domestic … “Aussie Tries to Hold Ground After Touching Multi-Year Low”
EURGBP Closes In On Key Resistance At 0.7421 Level
EURGBP: With the cross extending its bullish offensive on Tuesday, it faces the risk of a move further higher towards its Aug 2015 high at the 0.7421 level. On the upside, resistance lies at the 0.7450 level where a violation if seen will turn risk towards the 0.7500 level. Further out, the 0.7550 level comes … “EURGBP Closes In On Key Resistance At 0.7421 Level”
USDJPY Slumps On Further Bear Pressure
USDJPY: With the pair experiencing a second day of weakness on Tuesday, risk of a move further lower is expected. On the downside, support comes in at the 119.00 level where a break will target the 118.50 level. Below here if seen will aim at the 118.00 level followed by the 117.50 level. Its daily … “USDJPY Slumps On Further Bear Pressure”
Lower Eurozone Unemployment Helps the Euro
Euro is getting some help today from the fact that the latest unemployment numbers are showing improvement. With lower unemployment levels and Forex traders still interested in the carry trade, euro is getting some help today. Looking across the eurozone, Eurostat reports that the average unemployment for July was 10.9 per cent. This is the lowest level for eurozone unemployment since early 2012. Coupled with … “Lower Eurozone Unemployment Helps the Euro”
Loonie Bounces as Canadian Economy Exits Recession
The Canadian dollar repeated yesterday’s performance today, falling at the first half of the trading session but bouncing later. The currency did not completely erase its losses against the euro and the Japanese yen but managed to rebound to the opening level versus the US dollar. Canada’s gross domestic product rose 0.5 percent in June after falling for several consecutive months. What is more, the growth was bigger than analysts had … “Loonie Bounces as Canadian Economy Exits Recession”
Aussie Falls on RBA, China Concerns
Australian dollar is struggling today, falling after the Reserve Bank of Australia voted to remain in a holding pattern on interest rates. Additionally, Aussie is finding it difficult to overcome the issues related to slowing Chinese growth. For the fourth month in a row, the Reserve Bank of Australia has kept rates at a low 2 per cent. While this move was expected, it still doesn’t do much to bolster the Aussie in Forex trading. … “Aussie Falls on RBA, China Concerns”
Will the Fed make good on their plans for a
With Fed rate hike back in focus, Senior market commentator, David Buik, joined Zak Mir in the Tip TV studio to discuss the current prospects of an Autumn interest rate hike from the Federal Reserve, and what direction China look to be heading in now. China clueless? Following failed attempts to prop up their equity … “Will the Fed make good on their plans for a”
Forex Crunch Key Metrics August 2015
The month of August usually sees a slowdown due to summer vacations, but this year it wasn’t too pronounced as the Chinese crisis rocked markets. In September, the busy calendar with the potential rate hike in the US could make things busier. Here are the numbers: Website: Page Views: 654,047. Visits: 268,183. Visitors: 166,568. Time on … “Forex Crunch Key Metrics August 2015”
CRUDE OIL Sees Further Bullishness Offensive
CRUDE OIL: Having the commodity extended its bullish offensive on Monday, further strength is envisaged. Resistance is located at the 49.00 level where a break will expose the 50.00 level. A break below here will aim at the 51.00 level and then the 52.00 level. Above here if seen will open the door for a … “CRUDE OIL Sees Further Bullishness Offensive”