Morning Guys! Stocks and commodities are trading higher across the board after the Federal Reserve said it will spend $600 billion in a new bond-buying program to support the economy. So it’s not a surprise that US dollar is showing a very weak picture against the other major currencies, especially against the Euro which is the … “EUR/USD Elliott Wave – Unfinished Uptrend”
Author: admin_mm
Finally Job Gains? Non-Farm Payrolls Preview
Non-Farm Payrolls for October are expected to be positive and could provide support for the dollar after the QE2 deci. As the effect of the decennial census is finally gone, the unemployment rate will attract more attention. Here are the things to watch for in the NFP release on November 5th. As of mid-December, only … “Finally Job Gains? Non-Farm Payrolls Preview”
Better Outlook for US Economy Pushes Loonie Up
The Canadian dollar gained today after the Federal Reserve announced its bonds-buying plans, improving the outlook for the economy of the US, the biggest Canada’s trading partner. The Federal Reserve it’s going to spend $600 to purchase the Treasuries. While the size of purchases is lower than some analysts expected, it’s quite significant. The improving economy of Canada’s neighbor can support the economy of Canada itself. Crude oil, the key Canada’s export, reached $85.12 … “Better Outlook for US Economy Pushes Loonie Up”
Fed Performs Quantitative Easing, Debasing Dollar
The US dollar fell after the US Federal Reserve announced its Treasuries-purchase program, causing the greenback to drop against 15 of 16 most-traded currencies. The Federal Reserve announced that it’s going to “purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month” and left the interest rates near zero. The plans of the Fed to print more money debase the US currency. … “Fed Performs Quantitative Easing, Debasing Dollar”
Britain’s Services PMI Report Supports Pound
The report today showed the unexpected growth of Britain’s services PMI, helping the Great Britain pound to gain and causing the speculation that the central bank would keep its policy unchanged tomorrow. Britain’s Services Purchasing Managers’ Index grew to 53.2 in October from 52.8 in September, while the analysts predicted the decline to 52.4. The good economic data caused the speculation that the Bank of England wouldn’t follow the US Federal Reserve into the quantitative … “Britain’s Services PMI Report Supports Pound”
New Zealand Dollar Strengthens Before Fed Meeting
The New Zealand dollar rose against its US counterpart on the speculation that the US Federal Reserve would announce today the next round of the quantitative easing. The greenback weakened against the higher-yielding currencies, including the New Zealand one, as the market participants anticipate the Fed to announce its asset-purchase plans today. There’s the risk, of course, that the Fed would surprise everybody and wouldn’t perform the easing or the stimulus wouldn’t be that big. Such … “New Zealand Dollar Strengthens Before Fed Meeting”
QE2 Update – Expectations Narrowing Down
The QE2 decision is getting closer – at 18:15, the FOMC will release its long awaited decision about a second dollar printing program. Here are the latest estimations. The narrow estimations leave more room for a surprise and high volatility. Out of the 5 scenarios for the quantitative easing decision, scenario no.2 is now popular … “QE2 Update – Expectations Narrowing Down”
Pound Weakens on Slower Construction Growth
The Great pound dropped against the euro, erasing the two-day gains, after the report showed the slower construction growth, reinforcing the concerns for Britain’s economy and the outlook for the quantitative easing by the Bank of England. The Construction Purchasing Managers’ Index dropped from 53.8 in September to 51.6 in October. The much smaller decline to 53.1 was expected. The report somewhat muted the impact of the positive economic data last week on the outlook for the UK economy. The Bank of England should set … “Pound Weakens on Slower Construction Growth”
Is Iraqi Dinar New Opportunity or Tool for Scam?
The new Iraqi dinar, introduced in 2003 after the fall of the Hussein’s rule, became popular among some investors, who hope it would become much more valuable soon and would bring a big profit. Are such hopes justified or buying the dinar is buying the worthless paper? The example of the Kuwait dinar fuels hopes of the investors, who put faith in the Iraqi currency. The Iraqi dinar already jumped from 4000 per … “Is Iraqi Dinar New Opportunity or Tool for Scam?”
Fundamental Overview – Market Movers Last Week – 11/01/2010
The U.S. Dollar had a mixed week against the major currencies, falling against most of them, but gaining slightly against the Australian Dollar and the Euro. The set of economic data out from the United States had a net negative effect on the Greenback. The U.S. Dollar Index declined by -0.21 last week from 77.47 … “Fundamental Overview – Market Movers Last Week – 11/01/2010”