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Day: June 13, 2013
June 132013
Positive US Indicators Bring CAD Higher
The Canadian dollar rallied today as positive macroeconomic data from the United States improved prospects for Canadian exports, increasing the appeal of the nation’s assets. The currency remained below the opening level against the Japanese yen and dropped versus the Australian dollar. Usually, good reports from the USA are positive for CAD as the country is the biggest trading partner of Canada. Yet nowadays any good news makes traders worry that the Federal Reserve […]
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June 132013
Positive Australian Employment Data Boosts Aussie
The Australian dollar jumped today after employment data turned out to be much more positive than was expected by Forex market participants. The report allowed the currency to gain against the US dollar and the euro, while against the Japanese yen the Aussie managed to erase losses. Australian employment grew by 1,100 in May from April. It was much better reading than a drop by 9,800 anticipated by traders. Moreover, the unemployment rate […]
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June 132013
Positive Data Helps the US Dollar
Positive economic data is helping the US dollar today. Forex traders can compare the situation in the eurozone with that in the United States, and see a contrast. As a result, the greenback is getting a little help today. After a few days of thin economic data, two key bits of data were released today, helping the greenback on the Forex market. The data points to an improving economy, and that is providing a boost for the US dollar. First […]
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June 132013
Euro Struggles as German Arguments, Bank Plans Gain Prominence
Euro is struggling today with everything that is happening in the eurozone right now. There’s a great deal of uncertainty, and a lot happening related to bailout efforts and plans to keep the euro solvent. German arguments before the Federal Constitutional Court pit Angela Merkel‘s government in opposition to the Bundesbank head Jens Weidmann. Merkel is on the side of the ECB’s European Stability Mechanism, and willing to use German taxpayer dollars to bailout other countries […]
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June 132013
NZ Dollar Weaker After RBNZ Meeting
The New Zealand dollar dropped today after the Reserve Bank of New Zealand maintained interest rates unchanged and suggested that it may intervene to weaken the currency. The currency erased the drop against the US dollar, but remained soft versus the Japanese yen. The RBNZ left its main interest rate at 2.5 percent today. Governor Graeme Wheeler said in the accompanying statement: Despite having fallen over the past few weeks, […]
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June 132013
Yuan Falls as World Bank Lowers Growth Projection
The Chinese yuan fell today as the World Bank reduced its projections for global growth. The previous data from China did not help the currency either. The World Bank lowered its estimate for this year’s growth of the global economy to 2.2 percent from the previous figure of 2.4 percent. In China, a “weak 7.7 percent growth” is expected, which should accelerate to 8 percent next year. Morgan Stanley reduced its […]
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June 132013
EUR/USD Retreats After Reaching Highest Since February
EUR/USD climbed to the highest level since February today, but retreated later. The drop was caused by good reports from the United States that supported the outlook for an end to Federal Reserve’s quantitative easing. Retail sales rose 0.6% in May. Growth was faster than expected (0.4%) and above the April’s rate of 0.1%. (Event A on the chart.) Initial jobless claims fell from 346k to 334k last week. It was rather […]
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