The British Pound had a marvelous performance this week. It broke upwards against the dollar and the Euro, and showed some positive economic news for a change. Will Britain emerge quickly from the crisis? GBP/USD is now trading at 1.4820, a price not seen in a long time. This is higher than last week’s peak, … “Comeback of the Pound”
Author: admin_mm
KRW Falls as Government Cools Optimism
The South Korean won declined today against the U.S. dollar after rising for the whole week after the countrys government said that the current investors outlook for the economy are too optimistic. The currency was in the uptrend this week as the markets have seen a serious decline in the risk-aversion. Despite the rising stock markets in the Asian region, the … “KRW Falls as Government Cools Optimism”
EUR/USD Rally – Very Problematic
The Euro has all the reasons to celebrate today: G20 resolution, Trichet’s defiance, and bad jobless claims. The Euro will soon meet resistance, since this rally is problematic. Very problematic. G20 leaks suggest that the leaders will succeed in reaching a joint agreement for stimulating the world. A $750 billion strong IMF can do much … “EUR/USD Rally – Very Problematic”
Pound Gains as House Prices Rise
The British pound rose today against the other major currencies as the house prices demonstrated growth for the first time since October 2007 in United Kingdom this March. The market participants expected that the March report on the nationwide house prices in Great Britain will show a continued decline on the recessing economy. They were wrong as the report showed 0.9 percent month-to-month growth … “Pound Gains as House Prices Rise”
Continued American Housing Doesn’t Help The Dollar
Housing data in the US continues to shine, with Pending Home Sales showing strength and surprising. But the markets have their heads in the next two days: G20 Summit and NFP. Tension is high… Pending Home Sales have been very positive: A rise of 2.1%, compared to early expectations of 0.2%. Comparing to last month, it … “Continued American Housing Doesn’t Help The Dollar”
Euro Declines on Unemployment Report
The single European currency declined today to the levels close to its 2-week low before and after the report on Eurozone February unemployment negatively surprised the traders. The Japanese yen, the U.S. dollar and the British pound all gained against the euro as the investors expected that the jobless rate will grow in the Eurozone at faster pace than the analysts … “Euro Declines on Unemployment Report”
Tankan Manufacturing Index could take USD/JPY Over 100
The Tankan Manufacturing Index is major economic indicator in Japan. USD/JPY is climbing slowly to the magical 100 mark. Will this release push it over the top? Update April 2011: for the latest on this important Japanese indicator, see the Tankan Manufacturing Index page on Forex Crunch. USD/JPY is trading sideways for a few weeks. On … “Tankan Manufacturing Index could take USD/JPY Over 100”
Canadian GDP Could Surprise
GDP is expected soon in Canada, and it’s expected to show a contraction of 0.6%. There are three reasons why it could surprise to the upside. Here’s why. Canada publishes its GDP on monthly basis. This is unique. While the consensus is for a contraction of 0.6%, some conditions have improved lately, and could indicate … “Canadian GDP Could Surprise”
Yen Heads for Biggest Quarterly Loss in Years
The Japanese yen declined today against the other major currencies as the stock markets corrected after the yesterdays fall and the yen became too overbought. The traders also expect a worst in 30 years business confidence index to be reported by the Bank of Japan tomorrow. The yen is currently losing largely against the euro as the market participant believe that the European Central Bank will … “Yen Heads for Biggest Quarterly Loss in Years”
Yen Dollar Correlation – Upside Story
The US dollar and the Yen continue to work in correlation, and today, the dollar made gains – the Yen extended them. I’ve written in the past about the Dollar Yen Correlation. In previous events, such as the FOMC Trillion dollar printing statement, the dollar weakened, and then the Yen weakened even more. Today, it … “Yen Dollar Correlation – Upside Story”