Australia’s job market gained jobs for a third straight month, beating expectations once again. These results pushed AUD/USD higher, after being blown by the American Non-Farm Payrolls on Friday. The Australian and American fundamentals continue to remain very different. Image credit: Martin Kingsley on Flickr Australian employment change came out far better than expected: a … “US employment can envy Australia’s – it’s felt in forex”
Category: Opinions
Not the Pound’s Darling (2)
Alistair Darling’s pounded the Pound once again. The “supertax” on bank bonuses distracted the markets for a short time, until the pre-budget was fully digested. The gloomy picture drawn in the report sent the Pound down across the board, a day before the rate decision. The Distraction Alistair Darling, the Chancellor of the Exchequer in … “Not the Pound’s Darling (2)”
Pound to climb up the mound?
Some good news for the Pound today – growth has returned to the UK according to the unofficial NIESR GDP estimate. This news was unnoticed. Looking at the near past, this institute was very accurate. Here is how you can use this info in the future. The National Institute for Economic and Social Research (NIESR) … “Pound to climb up the mound?”
Exit Strategies Expose Pound Weakness
Both the Federal Reserve and the ECB began moves to soften the stimulus actions – the start of an exit strategy out of the crisis. This doesn’t happen in Britain. Britain still suffers from a bad data – and this leaves the Pound behind – again. In the monthly rate decision there was no surprise … “Exit Strategies Expose Pound Weakness”
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on a luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can … “7 Ways to Avoid Forex Scams”
Parity Party for the Swissy
The Swiss Franc has reached parity with the US dollar. Apart from the general weakness of the greenback across the board, also the Swiss National Bank has a role in bringing USD/CHF to 1. USD/CHF reached a year-to-date low of 0.9960 and trades now at a perfect 1.0000. The pair last reached this rate in … “Parity Party for the Swissy”
Euro gets good figures but fails to break – Is
Good figures sent the Euro higher today, but failed to take it out of the range. How long will this last? Are the dollar bulls ready to rage? Preliminary GDP proved correct in Germany. The 0.7% growth that was reported for Q3 was confirmed today with the final GDP release. German Ifo Business Climate exceeded … “Euro gets good figures but fails to break – Is”
Aussie and Kiwi out of range
While most currencies are stuck in the same range in the past two weeks, the AUD/USD and NZD/USD are out of these ranges – to the downside. The sun currently doesn’t shine on the high yielding currencies of the south pacific. AUD/USD out of range – click to enlarge. Yesterday I described how the EUR/USD … “Aussie and Kiwi out of range”
Range Trading – Frustration and Opportunities
This week’s forex trading is quite boring – most currency pairs trade in specific range. While this trade pattern isn’t exciting, it offers opportunities to run up and down the range. Could this range signal that the long-term fall of the dollar is about to change? EUR/USD, the world’s favorite pair, is trading between 1.48 … “Range Trading – Frustration and Opportunities”
Aussie takes a break on rises after gold and stocks fall
AUD/USD reached new highs on a rise in jobs, but this was stopped by a fall in the price of gold, and renewed dollar strength that comes from drops in the stock markets. The strength of the Australian economy should make this break temporary. This renewed dollar weakness, although it’s felt strongly in EUR/USD, isn’t … “Aussie takes a break on rises after gold and stocks fall”