Euro Declines as Interest Rates Can Hurt Indebted Nations

The euro pared its five-day gains versus the US dollar as the anticipated interest rates increase can cripple the most indebted nations of the Eurozone. Analysts predict that the European Central Bank will raise its benchmark rate by 25 basis points on April 7 from the record low of 1 percent. Such increase will be beneficial for the strong economies, like the German one, but can be disastrous for the peripheral nations, … “Euro Declines as Interest Rates Can Hurt Indebted Nations”

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USD/CHF Recovery Supported by Stock Market

Usd/Chf spiked higher on Friday and now we have five waves up from 0.8920 lows, which means that from an Elliott Wave perspective trend has changed from bearish to bullish, because impulsive structure always shows direction of a temporary trend. With this being said, we are expecting higher levels to be seen within larger three … “USD/CHF Recovery Supported by Stock Market”

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Aussie Ran Away to Upside, Doesn’t Want to Come Back

Analysts expected a correction of the Australian dollar after the impressive rally a week ago. Instead, the Aussie was climbing to new records against the US dollar almost every day. The reason for the strength of the Australian currency is the continuing global recovery. The macroeconomic data across the world, including the rising non-farm payrolls in the US and the increasing growing manufacturing in China, supported the growth story. The growth of the economy bolsters commodities and that’s good for the Aussie, as it’s a commodity … “Aussie Ran Away to Upside, Doesn’t Want to Come Back”

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GBPJPY – Bullishness To Extend Into The New Week

GBPJPY – A strong bullish momentum saw GBPJPY wiping out its two-week losses and breaking through the 132.905 level, its Mar 22’2011 high to close at 135.40 the past week. This rally is coming on the back of a loss of downside momentum at 122.40 and now leaves risk of further price extension towards the … “GBPJPY – Bullishness To Extend Into The New Week”

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Chinese Yuan Appreciates with Other Asian Currencies

The strong economic growth of the Asian countries spurred talks about future rate increases. These talks benefited the currencies of the region, including the Chinese yuan. China’s Manufacturing PMI rose from 52.2 to 53.4 in March, according to the China Federation of Logistics and Purchasing. The Bloomberg-JPMorgan Asia Dollar Index, tracking 10 most-traded Asian currencies, increased 0.6 percent this week to 117.61, the highest level since 1997. The MSCI Asia-Pacific Index added … “Chinese Yuan Appreciates with Other Asian Currencies”

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Loonie at 3-Year High Against Greenback

The Canadian dollar gained for the fifth consecutive session against its US peer, reaching the highest level in more than three years, as the employment in the US, the biggest trading partner of Canada, improved and crude oil, the main nation’s export, advanced. The contract for delivery of crude oil in May gained as much as 1.6 percent to $108.47 per barrel in New York, the highest since September 2008, on the forecast that the economy of China, the largest energy consumer … “Loonie at 3-Year High Against Greenback”

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CAD/JPY Big Winner of Non-Farm Payrolls

CAD/JPY is the big winner of the American Non-Farm Payrolls. The cross broke above the uptrend channel to levels last seen in June 2010. Update on this cross, which is often overlooked. CAD/JPY Technicals At 87.40, the pair is around 140 pips higher today, after already reaching 87.70 earlier in the day. It’s the fifth … “CAD/JPY Big Winner of Non-Farm Payrolls”

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Pound Drops as Manufacturing Declines

The Great Britain pound fell today against the US dollar and the euro as the UK Purchasing Managers’ Index slid in March to the lowest level in five months. The seasonally adjusted Markit/CIPS UK Manufacturing PMI fell to 57.1 in March from 60.9 in February. Only marginal decline to 60.7 was predicted by analysts. The report said that the incoming new orders rose at the weakest pace since last October. GBP/USD opened at 1.6028, jumped to 1.6081, … “Pound Drops as Manufacturing Declines”

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US Dollar Rises vs. Euro on Non-Farm Payrolls

The US dollar gained against the euro today, ending the 4-day decline, as the US non-farm payrolls provided better-than-expected results. The forecast of a 191,000 increase of the payrolls was considered very optimistic, but reality turned out to be even better as the increase was 216,000. The unemployment rate also made a pleasant surprise, going down to 8.8 percent, while it was expected to stay at 8.9 percent. EUR/USD slipped from 1.4157 to 1.4099 … “US Dollar Rises vs. Euro on Non-Farm Payrolls”

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