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Day: April 1, 2011
April 12011
Pound Drops as Manufacturing Declines
The Great Britain pound fell today against the US dollar and the euro as the UK Purchasing Managers’ Index slid in March to the lowest level in five months. The seasonally adjusted Markit/CIPS UK Manufacturing PMI fell to 57.1 in March from 60.9 in February. Only marginal decline to 60.7 was predicted by analysts. The report said that the incoming new orders rose at the weakest pace since last October. GBP/USD opened at 1.6028, jumped to 1.6081, […]
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April 12011
US Dollar Rises vs. Euro on Non-Farm Payrolls
The US dollar gained against the euro today, ending the 4-day decline, as the US non-farm payrolls provided better-than-expected results. The forecast of a 191,000 increase of the payrolls was considered very optimistic, but reality turned out to be even better as the increase was 216,000. The unemployment rate also made a pleasant surprise, going down to 8.8 percent, while it was expected to stay at 8.9 percent. EUR/USD slipped from 1.4157 to 1.4099 […]
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April 12011
Government to Monopolize Forex Trading
US regulatory authorities — CFTC and NFA — proposed a new initiative today. The main idea of their proposal is to monopolize the retail Forex market by the government. All the existing registered US brokers should be nationalized and, as a result, a single Washington-controlled foreign exchange dealing body is to be created. The resulting Forex broker will be called Federal National Forex Broker and will have the largest customer base in the world, as all […]
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April 12011
EUR/USD Falls on Payrolls, Recovers on Construction Spending
The very good US nonfarm payrolls pushed EUR/USD down today. Yet currently the currency pair attempts to rebound after the construction spending report provided the reading that was much worse than predicted. EUR/USD trades now at 1.4093 after it dropped earlier to 1.4064. US nonfarm payrolls grew by 216k in March. That’s even more than the big growth by 194k in February and the optimistic forecast of 191k. Unemployment rate […]
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April 12011
Slump of Japanese Yen Continues Without Slowing
The Japanese yen fell today for the fifth day versus the euro and the Great Britain pound, for the seventh day against the US dollar and declined against all other most-traded currencies today as economic recovery is gaining momentum. Analysts expect that the US non-farm payrolls today will show that US employers added 191,000 jobs in March. Forecasts also promise that the report of Markit Economics will show that the manufacturing […]
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