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In the weekly interview on Forex TV, I spoke with Julie Sinha about the possible turning point for the US dollar, the dillema that British policymakers face in the interesting rate decision, the busy week in Australia, and the Non-Farm Payrolls of course. Enjoy: Contrary to what many thought, a rate hike in Australia wasn’t … “[Video] No One Left to Short, British Dilemma, NFP and”
Author: admin_mm
Euro Erases Losses on Services PMI Reports
The euro rose today, erasing the previous losses, against all of its most-trading counterparts after the report showed that the European services industries expanded, suggesting that concerns for Europe’s economy is exaggerated and the recovery gains momentum. The good data overshadowed the concerns that the Moodyâs Investors Service may downgrade Ireland’s credit rating. The Eurozone services purchasing managersâ index advanced to 54.1 in September from the previous estimate of 53.6. The separate … “Euro Erases Losses on Services PMI Reports”
5 Most Unpredictable Currency Pairs II
Some currency pairs are truly annoying – they can criss-cross through clear levels of resistance and support,surprise when least expected and find the trader grabbing his head with anger. Here are my top 5 pairs that are the toughest with technical analysis: USD/JPY – Not only does it criss cross through clear lines, the BOJ … “5 Most Unpredictable Currency Pairs II”
Canadian Dollar Falls on Employment & Interest Rates Outlook
The Canadian dollar weakened today against its US counterpart as the stocks dropped and on the outlook for the slower growth of the employment in Canada. The currency rose against the euro. The analysts estimated that the Canadian employers added 11,300 jobs last month after the 35,800 increase in August. The Standard & Poor’s 500 index dropped as much as 1.3 percent. Crude oil, the biggest Canada’s export, was little changed today, rising 1 percent and falling … “Canadian Dollar Falls on Employment & Interest Rates Outlook”
New Zealand Dollar Falls as Economic Growth Slows
The New Zealand dollar weakened today after the Treasury Department said that the nation’s economy may grow slower in the second half of this year than was previously estimated on the stalling global recovery and the Canterbury earthquake. Alan Bollard, the governor of the Reserve Bank of New Zealand, lowered the growth forecast last month and left the cash rate unchanged after two successive increases. New Zealand’s gross domestic product grew 0.2 … “New Zealand Dollar Falls as Economic Growth Slows”
Positive Jobs, Positive Dollar? Non-Farm Payrolls Preview
Non-Farm Payrolls for September 2010 could be positive for a change. This is the last time that the decennial census will disrupt the numbers. Here are the things to look out for in the monthly circus. The number of employers that working on the huge decennial census project dropped from 83K to around 9K in … “Positive Jobs, Positive Dollar? Non-Farm Payrolls Preview”
Euro Falls After Week of Strong Rally
The euro slipped today against most of its most traded counterparts as the concerns, that the European nations would fail to reduce their budget deficit, erased the attractiveness of the shared 16-nation currency. The Financial Times said that Ireland’s budget deficit would be higher than previously estimated this year. The concerns for Ireland’s economy halted the rally of the euro, which was very strong last week but now the European currency … “Euro Falls After Week of Strong Rally”
Weekly Gains of Australian Dollar on Rapid Chinese Growth
The Australian dollar rose for the sixth consecutive week against its US counterpart as the rapid growth in the Asian region boosted the demand for the higher-yielding currencies and after the bets on the rates hike increased. The Chinese government reported that the purchasing managersâ index advanced to 53.8 this month from 51.7 in August. The value above 50 indicates growth. China is Australiaâs biggest export market. The strong growth in Asia, particularly China and India, should … “Weekly Gains of Australian Dollar on Rapid Chinese Growth”
Franc Falls vs. Euro on Slower Manufacturing & Retail Sales
Today was a bad day for the safe currencies, including the Swiss franc, which fell against the euro. The franc also weakened after the macroeconomic data showed that the manufacturing slowed and the retail sails decreased. The Swiss currency outperformed the US dollar. The Schweizerischer Verband fur Materialwirtschaft und Einkauf Purchasing Managers’ Index dropped to 59.7 this month, below the value of 61.4 in August and the market expectations of 60.8. The retail sales (not seasonally … “Franc Falls vs. Euro on Slower Manufacturing & Retail Sales”
Dollar Weakens as Manufacturing Slows
The US dollar dropped today against the euro to the lowest level since March, and also fell against all other major currencies, on the speculation that additional stimulus is required to support the US economy and after the report showed that the manufacturing growth slowed. The Institute for Supply Management Purchasing Managers’ Index declined to 54.4 in September from 56.3 in August. The report stated: While the headline number shows relative strength this month … “Dollar Weakens as Manufacturing Slows”