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Day: February 1, 2013
February 12013
Weakness of Canadian Dollar Does Not Hurt CAD/JPY
The Canadian dollar weakened today as crude oil declined and on concerns that nation’s unemployment rose last month. The currency continued to advance versus the Japanese yen as Canadian economic growth accelerated. Crude oil futures dropped as much as 1 percent to $96.51 per barrel in New York. Analysts fear that next week’s report will show an increase of unemployment from 7.1 percent to 7.2 percent. Losses were limited and the rally […]
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February 12013
US Dollar Falls on Enthusiasm over Global Economic Data
US dollar is falling today as better news from around the world boost risk appetite. As Forex traders become enthusiastic about risk assets, looking for yields rather than safe haven. A raft of economic data was released earlier, indicating that the global economy has been moving in a recovery direction, and that has many Forex traders excited about high beta currencies. As a result, the greenback is headed […]
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February 12013
Euro Continues to Gain as Better Data Comes In
Euro is getting a boost today, moving through the 1.3600 level against the US dollar as better economic data comes in. Signs of stabilization in the euro zone are supporting the 17-nation currency. The latest economic data out of the eurozone is quite encouraging, pointing to stabilization in the region. First of all, the decline in eurozone manufacturing activity eased for the month of January. On top of that, inflation and unemployment both appear to have stabilized. The news is […]
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February 12013
GBP/USD Drops as UK PMI Falls, GBP/JPY Highest Since 2010
The Great Britain pound tumbled against the US dollar today as the UK manufacturing fell more than was anticipated by analysts. The currency continued to rise against the Japanese yen, reaching the highest price since February 2010. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index fell from 51.2 in December (which was the highest in 15 months) to 50.8 in January. Experts have hoped for a reading of 51.0. The figure above 50.0 still indicated […]
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February 12013
NZ Dollar Rises, Gains Limited as China’s PMI Drops
The Zealand dollar rose today, but gains were limited as official data showed that China’s manufacturing growth slowed last month, damping prospects for New Zealand exports. The China Federation of Logistics & Purchasing reported that the Purchasing Managers’ Index fell from 50.6 in December to 50.4 in January. At the same time, the HSBC China Manufacturing PMI edged up from 51.5 to 52.3. It was the rare occurrence that […]
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February 12013
Positive US Data Propels EUR/USD to Highest Since 2011
EUR/USD jumped today, reaching the highest level since November 2011, as favorable data from the United States reinforced the positive market sentiment. Most reports today were better than expected, with the exception of the unemployment rate, which unexpectedly rose. Nonfarm payrolls rose 157k in January, in line with the forecast of 161k. The December growth was revised positively from 155k to 196k. The unemployment rate unexpectedly climbed by 0.1 percentage […]
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