Silver, the precious metal that is overshadowed by gold, reached a record high. It closed at $29.39 per ounce, above the previous intra-day peak of $29.34 reached the beginning of November. It then made only a swing high and fell back down under $28. Now we have a decisive close, touching $30. Silver isn’t used only for… silverware, … “Silver at All-Time High – Almost $30”
Author: admin_mm
3000 Readers in Forex Crunch
The Feedburner counter passed the 3000 mark for the first time – 3000 regular regular readers, with slightly more than half of them using email. You’re welcome to follow regular updates via Email or RSS. A new design of the site is in the works and will hopefully be ready before the end of the … “3000 Readers in Forex Crunch”
Fundamental Overview – Market Movers 11/29/2010
The greenback continued to show a lot of strength, making nice gains against the vast majority of major currencies last week,Only the New Zealand Dollar made a nice +0.6 percent gain versus the green note. The past week’s talk of defaults from Irish banks continued to some extent last week as the Irish financial crisis … “Fundamental Overview – Market Movers 11/29/2010”
Canadian Dollar Weakened By Poor US & Canadian Employment
The Canadian dollar fell today as the employment reports from Canada and the US, the largest Canada’s trading partner, were worse than predicted, decreasing demand for the Canadian currency. The Canadian employment grew by 15,000 in November, following the 3,000 growth in the month before. The market participants expected the increase by 20,200 jobs. The unemployment rate decreased, though, from 7.9 percent to 7.6 percent. The Canadian currency was more influenced, perhaps, by the US nonfarm payrolls, … “Canadian Dollar Weakened By Poor US & Canadian Employment”
Dollar Falls on Poor Employment Reports
The US dollar dropped today after the report showed that the unemployment rate in the US was at the highest level in 26 years as the US employers added only about one-third as many jobs as was expected, driving the investors away from the dollar to other currencies. The US nonfarm payrolls grew by 39,000 work places in November. That’s significantly less than the growth by 172,000 in the October and the forecast reading of 143,000. The unemployment rate grew to 9.8 … “Dollar Falls on Poor Employment Reports”
AUD/USD Parity only 80 Pips Away
The Australian dollar exploded on the bad employment data from the US and made 200 today. Just before markets close, AUD/USD is at 0.9920, after already reaching 0.9940. 0.9915 is a minor line of resistance. Closing above this line will open the road for AUD/USD parity early next week. The Aussie suffered from weak GDP … “AUD/USD Parity only 80 Pips Away”
Euro Rises on German Grow. Can Rally Be Sustained?
The euro extended its rally against greenback for the third day today as the Bundesbank raised its forecast for Germany’s economic growth. The rally may be short-lived, though, as other countries of the European Union aren’t likely to repeat the German economic growth. Most analysts aren’t convinced that the European troubles would be solved in the near future as the European official just saying that everything will be okay instead providing the real … “Euro Rises on German Grow. Can Rally Be Sustained?”
NZ Dollar Gains for Third Day vs. Greenback
The New Zealand dollar rose today against its US counterpart, posting the third day of gains, on the speculation that the report about the US non-farm payrolls would show the increase, spurring the demand for the higher-yielding currencies. The report today may show, according to the analysts’ estimate, the gain of 143,000 jobs in November. In October the payrolls grew 151,000, the highest increase since May. The optimism for the economy bolstered the commodities and the commodity currencies. The Thomson Reuters/CRB Commodity … “NZ Dollar Gains for Third Day vs. Greenback”
Retail Forex Industry – $200 Billion / Day
According to recent research by LeapRate, online financial trading is growing very quickly. The report shows that $200 billion exchange hands in daily trade forex. Francesc Riverola emphasizes that this is a tremendous growth of 2000% over the past 10 years, when the retail market was only at $10 billion a day. Very impressive indeed!
GBP/USD Struggles With Resistance After Services PMI
The purchasing managers’ index for the services sector came out within expectations – 53 points. This helped cable move forward, but it’s still struggling with the mighty 1.5650 line, that capped it throughout the week. The British pound has been enjoying the improvement in Europe – the hopes of a real resolution to the debt … “GBP/USD Struggles With Resistance After Services PMI”