Day: June 3, 2013

June 3
2013

Japanese Yen Higher Against Major Counterparts

Japanese yen is moving higher against its major counterparts today, gaining some ground as questions about the recent easing policies come to light. Some think that the recent (and dramatic) drop in the yen was too much, and now there is a bit of a correction, sending the yen higher against other currencies. A bit of risk appetite is weakening the US dollar in general, and the latest economic data out of the United States […]

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June 3
2013

Manufacturing Data Boosts Euro

The latest manufacturing data out of the eurozone is helping the 17-nation currency today. The good news is providing a boost for the euro against its major counterparts as expectations for an improving economy increase. Manufacturing in Italy, France, Spain, and Germany all showed improvement in the latest reports of PMI. Additionally, the purchasing managers index for the entire  eurozone also contracted less that previously. While the eurozone PMI reports still show contraction, the contraction is […]

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June 3
2013

Yuan Drops as Manufacturing Contracts

The Chinese yuan fell today as China’s manufacturing contracted last month, adding to concerns that the nation’s economy is going to experience slower growth. The HSBC China Manufacturing Purchasing Managers’ Index fell from 50.4 in April to 49.2 in May. The report said: The downward revision of the final HSBC China Manufacturing PMI suggests a marginal weakening of manufacturing activities towards the end of May, thanks to deteriorating domestic demand conditions. The decline was […]

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June 3
2013

Pound Advances as Manufacturing PMI Unexpectedly Expands

The Great Britain pound advanced today as UK manufacturing unexpectedly expanded last month, improving outlook for the nation’s economy and increasing attractiveness of the British currency. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose from 50.2 in April to 51.3 in May. It was the highest reading since March 2012. Analysts have expected that the gauge would stay unchanged. The expansion of manufacturing added to evidences that Britain’s economy is on track […]

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June 3
2013

Has Liberty Reserve Shutdown Influenced Your Trading?

Not all Forex scams are the same. Sometimes traders lose their money due to indirect scams. Shady business practices (or the lack of necessary transparency and AML compliance, however you call it) adopted by Liberty Reserve have resulted in a loss of funds for many traders. The payment system was quite popular in the online FX industry with more than a third of all brokers listed on our website supporting it. Those […]

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June 3
2013

European Reports Better than US Data, EUR/USD Jumps

EUR/USD climbed today as macroeconomic reports were worse than expected, sparking talks that the Federal Reserve may maintain its stimulus program for a prolonged time. Meanwhile, European data was better than expected. The euro gained on the dollar as a result. ISM manufacturing PMI fell from 50.7% in April to 49.0% (a reading below 50.0% indicated contraction of the sector). It was the first decline since November 2012. Analysts have […]

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