The US dollar weakened versus the Japanese yen today after the reports showed that the US GDP and the existing home sales grew less than was predicted by the analysts. The dollar managed to erase losses against the euro. The US gross domestic product grew 2.6 percent in the third quarter, while the forecasts promised the growth by 2.8 percent. The existing home sales expanded by from 4.43 million in October to 4.68 million in November. The Forex … “Dollar Drops vs. Yen, Rises vs. Euro on US GDP & Home Sales”
Author: admin_mm
Slower Growth of British GDP Makes Pound Weaker
The Great Britain pound extended its losses today after the final revision of the GDP report showed that the economic growth was slower that the experts previously estimated. The growth of the UK gross domestic product has been revised down to 0.7 percent in the third quarter from the previously published estimates of 0.8 percent. The GDP in the third quarter of this year is 2.7 percent higher compared to the third quarter of 2009. GBP/USD … “Slower Growth of British GDP Makes Pound Weaker”
Euro Gains on German Import Prices & Italian Retail Sales
The euro gained today as the reports showed that the import prices in Germany rose and the retail sales in Italy increased. The currency struggles to maintain gains as the concerns about the debt crisis undermine the confidence in the European economy despite the good reports. The index of the German import prices increased by 1.2 percent from October to November, compared to the expected value of 0.5 percent. The Italian retail trade index increased by 0.3 percent in October, following the 0.3 percent … “Euro Gains on German Import Prices & Italian Retail Sales”
S&P500 And The US Dollar – Elliott Wave Analysis
S&P500 is trading higher and higher reaching new high almost in every trading session. However, from an Elliott wave perspective uptrend may slow down in the near future, since price are already trading in a fifth wave, final leg of an impulse structure shown from 1173 lows. Guest post by Gregor Horvat We know that at … “S&P500 And The US Dollar – Elliott Wave Analysis”
Pound Declines as UK Budget Deficit Grows
The Great Britain pound dropped today as the report showed that the budget deficit climbed to the record, surpassing the analysts’ forecast and causing concerns about the future of the UK economy. The net borrowing in November was £23.3 billion, compared with the borrowing of £17.4 billion a year ago. The forecast value was a deficit of £16.8 billion. The current budget showed the deficit of £19.9 billion in November 2010, while it was £14.0 billion in November 2009. … “Pound Declines as UK Budget Deficit Grows”
Canadian Dollar Weakens on Slowing Inflation & Rates Outlook
The Canadian dollar continued to decline today, falling for the forth straight day in the longest stretch of losses since October, as the slowing inflation caused the speculation that Canada’s central bank would keep the interest rates unchanged. The consumer prices in Canada rose 2.0 percent in the 12 months to November, following the 2.4 percent increase in October. The median forecast promised the increase by 2.2 percent. The retail sales increased for the fifth consecutive month, rising 0.8 … “Canadian Dollar Weakens on Slowing Inflation & Rates Outlook”
Euro Rises as China May Help EU to Battle Crisis
The euro declined, though remained above the opening price, following its previous advance on the speculation that the European Union would receive the investment from China, which may help it to deal with the debt crisis. China’s Vice Premier Wang Qishan said that his nation has performed “concrete action” to help the EU to battle its crisis. He also said at the forum in Beijing today: EU members have … “Euro Rises as China May Help EU to Battle Crisis”
Swiss Franc Rises on Concerns About European Banks
The Swiss franc extended its gains today as concerns that the European banks would struggle to raise funds after their ratings were downgraded by the rating agencies increased the demand for the Swiss currency as the safe haven. The Moodyâs Investors Service downgraded Ireland’s debt rating last week and yesterday reduced the ratings of Anglo Irish Bank Corp. and Irish Nationwide Building Society, both of which are controlled by the state, to literally “a junk”. The outlook … “Swiss Franc Rises on Concerns About European Banks”
20 Forex Sites to Thank and Recommend
In this season of giving, it’s time to thank and recommend forex sites / blogs that are very useful for forex traders. Here are my 20 picks. With some of these forex sites, I have different kinds of collaboration which I’m happy with, and it’s also an opportunity to thank them. I’ll start with sites … “20 Forex Sites to Thank and Recommend”
Britain’s Interest Rates May Go Up, Helping Pound Gain vs. Euro
The Great Britain pound rose today against the euro as the speculation that European banks would have problems in raising funds and the forecast that Britain’s central bank would increase the interest rates spurred demand for the sterling. The currency was little changed versus the US dollar. The Confederation of British Industry predicted in its report that the Bank of England would raise its benchmark rate by a quarter-point every three months from the second … “Britain’s Interest Rates May Go Up, Helping Pound Gain vs. Euro”