The Australian dollar dropped against other most traded counterparts as the average borrowing costs suggest that the central bank may slow the pace of the interest rates increase. The benchmark rate was increased for the sixth time from October and, while the policy maker are willing to slow the record pace of the rates increase, they yet may be urged to continue the interest rates increase to rein the inflation. The economy of China, the biggest trading … “Aussie Falls on Prospect for Slower Pace of Rates Increase”
Author: admin_mm
Rand Weakened by Unfavorable Jobs Data & Declining Gold
The South African rand fell today against the U.S. dollar on the outlook for the unfavorable jobless rate to remain without much improvement and as the commodity prices declined, causing the analysts to bet that the currency will remain weaker than $7.40 level. The unemployment rate in South Africa has reached as much as 24.3 percent by the end of 2009 and the jobs data, which is scheduled to release today, isn’t expected to show any substantial improvement. Gold, … “Rand Weakened by Unfavorable Jobs Data & Declining Gold”
Dollar Rises as U.S. Economy Improves
The U.S. dollar rose today as the reports about the increasing personal income, consumer spending and manufacturing signaled about the widening U.S. economic recovery; the greenback was also supported by the speculation that the Goldman Sachs Group Inc. won’t be sued for the fraud. The personal income rose $36.0 billion (0.3 percent), while the consumer spending increased 0.6 percent. The manufacturing sector expanded in April, the growth continues for the ninth consecutive month and with … “Dollar Rises as U.S. Economy Improves”
EUR/USD Breakout Alert – Candle Breakout Technique
Guest post by Jason Madison, independent trader and founder of BeatWallStreetNow.com Hello Everyone, By now you all should be familiar with the inside candle breakout technique I showed you in my previous posts, and hopefully you have been making some pips with it. Today I am going to alert you to breakout that is going … “EUR/USD Breakout Alert – Candle Breakout Technique”
Canadian Dollar Goes Up on Commodity Prices, Rising Stocks
The Canadian dollar advanced today as the crude oil prices surged to the highest level since September 2008, U.S. stocks gained and gold climbed to the highest level since November 2009. The Canadian currency depends on the prices for the commodities, especially crude oil, being the key export commodity of the nation, therefore the price increase bodes well for the Loonie. The expectation for the central bank to increase the interest rates as soon as of June or by July also supported the currency’s performance. … “Canadian Dollar Goes Up on Commodity Prices, Rising Stocks”
Concern About Greece’s Bailout Hurts Euro
The euro dropped today as the doubts arouse that Greece won’t receive the â¬110 billion aid package, which are supposed to be provided by the European Union governments and the International Monetary Fund. The EU leaders are going to discuss at their meeting on May 7th the details of the bailout, which may require from Greece to cut its budget spendings. Such measures are considered too severe by the Greece’s citizens and are speculations about … “Concern About Greece’s Bailout Hurts Euro”
High Risk Appetite Boosts New Zealand Dollar
The New Zealand dollar rose today against other most-traded counterparts as the outlook for Greece to receive the rescue package valued as much as €110 billion ($146 billion) improved the investors’ risk sentiment and attracted them to the South Pacific nation’s higher-yielding assets. The investors are attracted to New Zealand because of its high interest rates, which is 2.5 percent, compared to 0.1 in Japan and about zero in the U.S., but as such trades carry … “High Risk Appetite Boosts New Zealand Dollar”
Support and Resistance (S&R) Analysis – May 3rd
Guest post by bforex EURUSD: The EUR has been under pressure lately, but is bouncing off lows after touching an intra day low just north of 1.31. The 50 day moving average will act as strong Resistance for the EUR. However, a close above the 50 day MA coupled with a close above the 23.6% … “Support and Resistance (S&R) Analysis – May 3rd”
Pound Dropped This Week as Consumer Confidence Declined
The Great Britain pound experienced some volatile moves this week and by the weekend the currency declined against most other majors as the Parliamentary election draws near without signs of clear winner and as the households had the pessimistic outlook for their financial situation, causing the consumer confidence to worsen. The data about improving situation in manufacturing and services industries, caused by the U.K. economy’s recovery, hadn’t brought enough confidence to the Britons. The outlook about the personal financial … “Pound Dropped This Week as Consumer Confidence Declined”
Loonie Goes Down on Falling Equities
The Canadian dollar declined against its U.S. counterpart and other major currencies after the equities dropped on the speculation that the federal prosecutors investigating whether to file the criminal fraud charge against the Goldman Sachs Group Inc. The decline of the stocks outweighed the expectations for Greece to receive the aid package soon and the report about the expanding nationâs economy, which previously spurred the Loonie, as the Canadian currency nicknamed for the image of the aquatic bird on the C$1 coin. The doubts … “Loonie Goes Down on Falling Equities”