Economic news is weighing on the UK pound today, bringing it down against major counterparts. Industrial and manufacturing production numbers are lower than expected, and that indicates that UK economy is slowing. The latest numbers out of the United Kingdom have been disappointing, with industrial production falling 0.7 per cent in November from the previous month. Manufacturing production fell by 0.4 per cent, when an expansion … “Economic News Weighs on UK Pound”
Month: January 2016
EUR/USD: Trading the UOM Sentiment Index Jan 2016
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy and is bullish for the US dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 15:00 GMT. Indicator … “EUR/USD: Trading the UOM Sentiment Index Jan 2016”
Japanese Yen Hurt by Domestic Economic Data
The Japanese yen declined against the US dollar and the euro today as economic data released from Japan over the current trading session was detrimental to the currency. The yen may yet bounce with the help of waning trader’s optimism. Core machinery orders tumbled 14.4 percent in November from the previous month, almost two times the forecast drop. The Producer Price Index dropped 3.4 percent in December from a year ago compared … “Japanese Yen Hurt by Domestic Economic Data”
Australian Dollar Fails to Rally on Employment Data
The Australian dollar has attempted to rally on the back of positive domestic employment data released today but failed as the market sentiment slipped back into the risk-off mode. Australian employment fell by 1,000 in December compared to the predicted drop by 11,000. The unemployment rate stayed at 5.8 percent while experts had predicted an increase to 5.9 percent. The Aussie has rallied after the report but backed off by now as the traders’ mood worsened, spoiled … “Australian Dollar Fails to Rally on Employment Data”
EUR/USD: Foreboding Resistance; USD/JPY: Cloud Cross – BofA Merrill
The safe haven yen and euro are not only moving by the fundamentals of gloom but also by technical levels. The team at Bank of America Merrill Lynch analyze: Here is their view, courtesy of eFXnews: USDJPY broke below major support by closing under 118.40, a level that supported the uptrend on a closing basis for … “EUR/USD: Foreboding Resistance; USD/JPY: Cloud Cross – BofA Merrill”
EUR and GBP to end the year higher; 2016 –
The second half of the year will be the time to reverse positions, urged Jeremy Stretch, Head of G10 FX for CIBC, when he joined Nick Batsford and Mike Ingram on the Tip TV Finance Show to discuss the Forex market in 2016, as well as views on Oil, the Eurozone and a Grexit. Topics … “EUR and GBP to end the year higher; 2016 –”
US Dollar Continues to Gain Ground as Uncertainty Remains
US dollar is heading higher today against many of its major counterparts, thanks in large part to some of the uncertainty still in the markets. With the concerns about China, the United States remains the economic safe haven. China has been shaking up markets this week. Even though stocks are looking to regain some of their recent losses, there is still uncertainty surrounding the world’s second-largest economy. As a result, … “US Dollar Continues to Gain Ground as Uncertainty Remains”
Swiss Franc Moves Down as Risk Sentiment Improves
The Swiss franc dropped today as the traders’ mood improved, giving market participants less incentive to buy the currency as protection against risks associated with stalling global economic growth. Positive news from China alleviated fears among investors, making them more bold and willing to buy riskier assets with prospects for higher returns. Consequently, this made safe currencies, like the franc, less attractive. Additionally, comments from … “Swiss Franc Moves Down as Risk Sentiment Improves”
European Bond Yields Remain in Check
Bond yields in the eurozone are still in check, thanks in large part to better news out of China and better stock performance. The euro is heading a little lower, and there are expectations for the 19-nation currency to struggle the rest of the year. Yields on European bonds are a little bit lower today, following auctions by Germany and Italy. Belgium and Spain are expected to sell some bonds soon as well. However, even with bond yields … “European Bond Yields Remain in Check”
Australian Dollar Firms with Market Sentiment
Today, the Australian dollar rose together with other currencies linked to growth and commodities as positive trade data from China helped to alleviate risk aversion on markets. China’s trade surplus widened to $60.09 billion in December from $54.10 billion in November while analysts had expected it to narrow to $53.00 billion. The news helped the market sentiment but does not necessarily bode well for the export-oriented Australian economy as China’s imports … “Australian Dollar Firms with Market Sentiment”