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Day: January 24, 2013
January 242013
AUD Gains on JPY, Retreats vs. USD & EUR
The Australian dollar rose against the Japanese yen for the first time after fourth straight sessions of decline as growth of China’s manufacturing increased the appeal of the Aussie. At the same time, the currency slumped against the US dollar and the euro. Growth of China’s manufacturing was positive for commodities and the Standard & Poorâs GSCI Index of raw materials advanced 0.3 percent. All commodity currencies profited from that, but especially the Australian one as China is […]
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January 242013
GBP Drops vs. USD & EUR Ahead of GDP Report
The Great Britain pound dropped against the US dollar to lowest level since August and to the low not seen since February against the euro on concerns that tomorrow’s report will show that contraction of the UK economy resumed. The currency gained on the Japanese yen. Analysts predicted that tomorrow’s data will show a 0.1 percent decline of Britain’s gross domestic product in the fourth quarter of 2012. The decline would follow the 0.9 percent […]
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January 242013
US Dollar Looks to Rebound
US dollar is looking to rebound today, and is staging a rather impressive recovery. While the greenback is still down against the euro, it is finding success against other major currencies. Greenback is gaining some ground today in Forex trading, with the dollar index staging an ambitious recovery. The news that first time unemployment claims dropped more than expected last week is helping the situation […]
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January 242013
Euro Rises on Optimism about Eurozone Liquidity
Euro is on the rise today as risk appetite appears and Forex traders show optimism about the liquidity situation in the eurozone. With concerns about the debt crisis fading, and expectations for an improved future rising, the euro is gaining against its major counterparts. A little more than a year ago, the European Central Bank offered cheap three-year loans to eurozone banks in an effort to boost liquidity and help ease the credit crisis in the 17-nation currency […]
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January 242013
Yen Resumes Decline
The Japanese yen ended its rally and dropped today after growth of China’s manufacturing and fears of an intervention from Japan’s policy makers reduced the appeal of the currency. Deputy Economy Minister Yasutoshi Nishimura said that a drop of the currency below the 100 per dollar level would not be a problem. Such comments made traders think that the downside pressure on the yen will not end anytime soon. Meanwhile, China’s Purchasing […]
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January 242013
NZD Gains on JPY & AUD as China’s PMI Grows
The New Zealand dollar gained against its the Japanese yen as China’s manufacturing expanded this month faster than was expected by analysts, according to the preliminary estimate. The currency also advanced versus its Australian peer. The HSBC Flash Manufacturing PMI advanced from the upwardly revised December’s level of 51.5 to 51.9 in January. The median forecast was 51.7. The positive data allowed the kiwi to advance against the Japanese currency. The Australian dollar […]
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January 242013
EUR/USD Jumps Even as Spanish Unemployment Reaches Record
EUR/USD jumped today as the economic data from the United States was better than market participants have expected. The reports from Europe also surprised traders in a good way for the most part. The major negative event was the increase of Spanish unemployment to the record high of 26% (event A on the chart), but that did not prevent the rally of the currency pair. Initial jobless claims were at the seasonally adjusted level of 330k last week, […]
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