The Australian dollar rallied against all other most-traded currencies this week without any noticeable opposition as the economic recovery boosted commodity prices and caused Australia’s central bank to revise its growth forecast upwardly. The economic recovery was evident as the macroeconomic data from countries all around the world was generally positive. The economic reports from Australia itself were also good, including the reports about surging building … “Australian Dollar Beats Other Currencies This Week”
Author: admin_mm
High Canadian Employment Makes Loonie Strongest Since May 2008
The Canadian dollar reached the highest level against its US counterpart since May 2008 as the employment change in Canada was more than three times higher than the predicted value. Canadian employment rose for the second consecutive month in January, advancing by 69,000. The economists predicted that Canadian employers would add just 18,000 jobs. At the same time, the unemployment rate increased from 7.6 percent to 7.8 percent as more people … “High Canadian Employment Makes Loonie Strongest Since May 2008”
Lower Unemployment in US Boosts Dollar
The US dollar advanced today after the report showed that the unemployment rate in the US unexpectedly dropped last month even though the non-farm payrolls were far worse than the experts promised because of the winter storms. The forecasts promised the unemployment rate to rise slightly in January from 9.4 percent to 9.5 percent, but it surprised market participants falling to 9.0 percent. At the same time the non-farm payrolls also surprised traders, … “Lower Unemployment in US Boosts Dollar”
Mubarak in Montenegro?
Rumors from various sources say the Egyptian president Hosni Mubarak will leave to exile in Montenegro, Is Mubarak in Podgorica? Authorities in Montenegro were asked about this, but refused to answer, due to privacy limitations about asylum seekers. It will be interesting to hear something from the Prime Minister of Montenegro, Igor Lukšić. According to … “Mubarak in Montenegro?”
South African Rand Drops on Civil Unrest in Egypt
The South African rand dropped today as the tensions in Egypt threaten to fuel unrest in other countries of the region, causing uncertainty and risk aversion sentiment. The rand experienced the biggest drop among other emerging-market currencies after gunfire erupted as the supporters of the current president clashed with the protesters. The unrest spilled over to Yemen, where opposing groups, inspired by the example of Egypt and Tunisia, demand from President Ali Abdullah Saleh to resign office before … “South African Rand Drops on Civil Unrest in Egypt”
Asian Economic Growth Brings Malaysian Ringgit Higher
The Malaysian ringgit rose today as the economic growth in Asian region draws investors and causes the speculation that Asian nations will raise their interest rates to deal with the rapid growing inflation. The Asia Dollar Index, tracking 10 Asian major currencies excluding the yen, rose 0.6 percent this week to 116.49 by 16:21 in Hong Kong. The index advanced after the Philippines and Taiwan reported faster than expected economic growth. … “Asian Economic Growth Brings Malaysian Ringgit Higher”
Dollar Index outlook ahead the NFP – Elliott wave Video
US dollar reversed yesterday from 76.86 region, where a five wave decline from the 81.32 highs may have already found the bottom. The most important fact is that prices moved above the upper resistance line of a trading channel, which usually signals for a change in trend. Guest post by Gregor Horvat As such, further … “Dollar Index outlook ahead the NFP – Elliott wave Video”
Dollar Gains as Service Industries Expand
The US dollar gained today, reversing its downward trend that was in place for past several days, after the set of the good economic data from the US was released, including the report about the service industries. The economic activity in the non-manufacturing sector grew in January for the 14th consecutive month, causing Non-Manufacturing ISM index to climb from 57.1 to 59.4, while a gain to only 57.2 was expected by the specialists. The factory orders increased … “Dollar Gains as Service Industries Expand”
Euro Slumps as ECB Holds Interest Rates Unchanged
The euro tumbled today as the European Central Bank left the interest rates unchanged and the comments of bank’s President Jean-Claude Trichet caused the speculation that the rates will remain unchanged for the whole year. The Governing Council of the ECB decided at todayâs meeting that the interest rate on the main refinancing operations will remain unchanged at 1 percent. Such decision was generally expected by market participants. Trichet said in the introductory statement to the ECB press conference … “Euro Slumps as ECB Holds Interest Rates Unchanged”
Less Expectations, Stronger Impact? Non-Farm Payrolls Preview
Non-Farm Payrolls hold fewer expectations, after the past two disappointment. What’s expected, and how will the dollar react? Here’s a preview for the king of forex. This time, the indicators leading towards the Non-Farm Payrolls aren’t as great as last month, but the US economy is still improving. Weekly job claims have had some setbacks. … “Less Expectations, Stronger Impact? Non-Farm Payrolls Preview”