March 26, 2013 – The Plot

March 26
2013

NZ Dollar Lifted by Bigger-Than-Expected Trade Surplus

The New Zealand dollar jumped today after the nation’s trade balance posted a surplus that was much bigger than expected. The general positive market sentiment also helped the currency. The New Zealand trade balance demonstrated a surplus of NZ$414 million in February after posting a deficit of NZ$287 million in January. The expected surplus was just NZ$2 million. The positive data does not eliminate the possibility of an interest rate cut by the Reserve […]

March 26
2013

Euro Recovers After Losses, Attempts to Rally

The euro was falling today, but currently has recovered losses and it looks like the currency may yet even rally. Forex traders are digesting news regarding Cyprus and are trying to guess where the euro will go next. As was predicted, it is hard for traders to follow moves of the shared European currency. The euro looked weak at the beginning of the trading session and it seemed the currency will extend its […]

March 26
2013

Japanese Yen Mostly Weaker on Expected Stimulus Measures

Japanese yen is mostly lower today, dropping on expectations that aggressive easing will keep the Asian currency lower against its major counterparts. The Bank of Japan, with its new head Haruhiko Kuroda, is setting a bold target to beat deflation, no matter the cost. Kuroda’s sentiments are just what recently-elected Prime Minister Shinzo Abe wants to hear. The assumption is that more stimulus, thanks […]

March 26
2013

US Durable Goods Orders Help Mexican Peso, Currency Loses Gains Later

The Mexican peso advanced today as US durable goods orders grew in February faster than was expected, improving prospects for Mexican exports. The currency lost its gains as of now as the Forex market remains in the risk-off mode still. Durable goods orders expanded 5.7 percent in February. The actual increase beat the consensus forecast of 3.9 percent. The data was very favorable to the peso as about 80 percent of Mexican exports go to the United […]

March 26
2013

US Dollar Index Slightly Lower in Choppy Trading

US dollar index is slightly lower today as choppy trading is the norm. Many currencies are trading mixed right now, and that includes the greenback. With concerns about the eurozone, and with speculation about continued currency wars some countries attempt to stimulate their economies, there is some thought that the dollar will show relative strength overall. Right now, there is enough risk appetite […]

March 26
2013

CBI Retail Sales Weaken Pound, Glimmer of Hope Remains

The Great Britain pound dipped today after the CBI retail sales report showed that trading volumes were flat in March, while traders have hoped for growing sales. The currency was able to hold ground against the Japanese yen as the report was not completely negative. Confederation of British Industry released its Distributive Trades Survey, which showed that the index stood at 0 in March, meaning that trading volumes […]

March 26
2013

EUR/USD Extends Losses on Cyprus’ Bailout Deal

EUR/USD extended its losses for the second session today after Cyprus reached an agreement with the European Union to receive a bailout. The Forex market shifted to a risk positive mode initially after the deal was announced yesterday. Traders quickly lost their optimism after they realized that the terms of the agreement involved losses for private sector. There were even rumors that some EU officials proposed the deal as a model for saving […]

March 26
2013

Aussie Keeps Gains Ahead of Stevens’ Speech

The Australian dollar was little changed today after yesterday’s gains as traders wait for the scheduled speech of Reserve Bank of Australia Governor Glen Stevens. Market participants hope that Stevens’ comments will hint on future monetary policy of the central bank. Investors reduced their bets that the RBA will cut interest rates in the near future. The recent macroeconomic data, especially surprisingly good employment figures, does not push […]

Day: March 26, 2013