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Day: January 3, 2012
January 32012
NZD Jumps as Positive PMI Figures Spark Optimism on FX Market
The New Zealand dollar surged today as the positive reports about China’s and US manufacturing made more attractive currencies related to growth, the New Zealand one among them. The US Purchasing Managers’ Index increased from 52.7 to 53.9 in December, showing a 29th straight month of manufacturing expansion. Both the Standard & Poorâs 500 Index of shares and the MSCI World Index climbed as much as 1.8 percent today. All in all, today’s […]
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January 32012
Canadian Dollar Rises as Commodities Jump
Canadian dollar is higher as commodities see a sharp jump in prices. The latest ISM data in the United States is helping matters, especially for the loonie, but the manufacturing expansion in China and Australia is also helping quite a bit. With economic data improving for the United States and for other countries, optimism is running high. That means that commodity prices are improving and commodity currencies, like the loonie, are getting a boost. […]
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January 32012
Euro Higher, Even as Bank Lending from ECB Continues
Euro is higher today, gaining even though banks are still making high demands on the ECB’s marginal lending facility. A total of 14.8 billion euros were borrowed on Monday night. This wasn’t as much as borrowed last Thursday night, but it indicates that banks are still demanding emergency money from the ECB. Even so, the euro is higher today against most other major currencies. […]
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January 32012
Aussie Jumps with Asian Stocks & Manufacturing
The Australian dollar jumped today as Asian stocks advanced and nation’s manufacturing expanded, increasing attractiveness of Australia’s currency. The Manufacturing Index of Australian Industry Group rose from 47.8 to 50.2 in December. A value above 50.0 indicates expansion and Australia’s manufacturing expanded last month for the first time since June. The MSCI Asia Pacific Excluding Japan Index of stocks advanced as much as 1.7 percent. AUD/USD jumped from 1.0231 to 1.0346 (the highest […]
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January 32012
Dollar Drops as Manufacturing Expands in USA & China
The US dollar dropped today as expanding manufacturing in the United States and China damped demand for the greenback as a safe haven. The dollar reached the lowest level in more than a month against the yen. China’s Purchasing Managers’ Index increased from 49.0 to 50.3 in December, according to the report of the China Federation of Logistics and Purchasing on January 1. Analysts predict that the report of the Institute for Supply Management will show today an increase of PMI from 52.7 to 53.3 […]
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January 32012
Dollar Down on PMI & FOMC Minutes
EUR/USD jumped today as China’s and US Purchasing Managers’ Index rose, while global stocks rallied, reducing demand for the dollar as a safe currency. The minutes of the FOMC meeting indicated that committee members believe that more stimulative monetary policy may be required in the future. ISM manufacturing PMI was at 53.9% in December, a bit higher than the forecast value of 53.3% and above the November reading of 52.7%. (Event A on the chart.) Construction spending […]
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