The Australian dollar fell from parity with its US counterpart today as the unemployment rate increased, even though it was supposed to fall. The Aussie extended its gains against the euro. The Australian employers added 29,700 jobs in October, following the 49,600 increase in September. That was better than the expected 20,200 employment change. The better-than-expected employment change hasn’t helped to decrease the added 29,700 jobs in October, though, which … “Aussie Drops from Parity vs. Greenback on Unemployment Rate”
Author: admin_mm
Eur/Usd Oversold – Looking For Recovery – Elliot Wave
Eur/Usd is down already more than 500 pips since past weeks high, established at 1.4278 region. The pair is extremely oversold, and a five wave structure from the most recent highs suggests that Euro should recover in the very near future. Elliott wave theory says that trend always change a direction after every five waves, … “Eur/Usd Oversold – Looking For Recovery – Elliot Wave”
Yen Rebounds After Previous Decline as China May Cool Economy
The Japanese yen rose today, before returning to the opening level, on the speculation that the accelerating inflation in China would prompt the government to take steps to cool the economy. The consumer prices in China grew 4 percent in October, the biggest advance since October 2008, following the 3.6 percent increase in September. The rapidly growing prices and the increasing trade surplus caused concerns among the Chinese policy makers about the possible asset bubble. The concerns caused … “Yen Rebounds After Previous Decline as China May Cool Economy”
Fed’s Easing Spurred Commodities and Bolstered Ruble
The Russian ruble posted gains today as the prices for crude oil rallied and the quantitative easing in the US spurred the demand for the riskier assets. The quantitative easing weakened the dollar and boosted commodities, including oil, the main source of Russia’s export revenue. Crude oil reached $87.63 per barrel yesterday, the highest price in more than two years. The ruble also strengthened as the Federal Reserve kept the interest rates near zero, prompting the investors to seek … “Fed’s Easing Spurred Commodities and Bolstered Ruble”
Britain’s Inflation Stay Above Target, Boosting Pound
The Great Britain pound advanced against the US dollar today after the Bank of England said that the inflation may stay above the 2 percent target, decreasing the probability of the quantitative easing by the bank and bolstering the pound. The Bank of England raised its near-term forecast for the inflation and expects it to stay above the target through the next year. The bank said that it “stood ready to respond in either direction as the balance of risks evolved”. GBP/USD … “Britain’s Inflation Stay Above Target, Boosting Pound”
Dollar Gains vs. Euro & Yen as Treasuries Yield Increases
The US dollar rose today against the euro and the Japanese yen as the increasing yield of the Treasuries raised the attractiveness of the dollar-priced assets. The dollar also strengthened as the reports showed that the US trade deficit narrowed and the unemployment claims decreased. The concerns that the European economy would struggle after the European Central Bank would remove stimulus drove the euro further down against the greenback. EUR/USD dropped from 1.3772 to 1.3692 as of 15:11 GMT today … “Dollar Gains vs. Euro & Yen as Treasuries Yield Increases”
Who Said Most Forex Traders Lose?
The second part of the wide traders survey shows that only 27% lose. This is the total opposite of what we’ve seen in US brokers’ reports. Here are a few speculations about this figure and more interesting numbers. See the first part of the forex traders survey, showing the reasons to trade, popular currencies and … “Who Said Most Forex Traders Lose?”
Swiss Franc Posts Gains vs. Euro, Losses vs. Dollar
The Swiss franc strengthened versus the euro on the renewed concerns for the European economy, threatened by the budget deficits of the peripheral economies. The franc fell against the US dollar after the reports showed the consumer confidence in Switzerland decreased. The yield on the Irish 10-year bond compared to the German bunds increased to the record 5.54 percentage points. The spread between the Portuguese and the German bonds rose 13 basis points to the record 4.52 percent. It looks like the European debt … “Swiss Franc Posts Gains vs. Euro, Losses vs. Dollar”
Canadian Dollar Falls vs. US Currency, Rises vs. Euro
The Canadian dollar dropped from parity with the US dollar after commodities, including crude oil, and the stocks fell, decreasing the appeal of the growth related currencies. The loonie gained versus the euro. The equities and the commodities fell after the US auctioned Treasuries. The yield on 10-year Treasuries increased 12 basis points to 2.67 percent. The Standard & Poorâs 500 Index slipped 0.8 percent after it rose earlier 0.3 percent. December … “Canadian Dollar Falls vs. US Currency, Rises vs. Euro”
Fundamental Overview – Market Movers Last Week – 11/08/2010
The U.S. Dollar lost considerable ground against all the major currencies last week, with the exception of the Japanese Yen which lost -1.2% against the Greenback. The U.S. Dollar’s decline was attributed primarily to the release of QE II, the new quantitative easing measures announced by the U.S. Federal Reserve Bank with the intention of … “Fundamental Overview – Market Movers Last Week – 11/08/2010”