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Day: July 1, 2013
July 12013
US Dollar a Little Weaker on Risk Appetite
US dollar is a little weaker today, heading mostly lower against its major counterparts as risk appetite sends Forex traders looking for higher yields. Greenback is a little lower today, dropping a bit as risk appetite takes over. Riskier assets, including stocks, are heading higher today as enthusiasm is the story of the day. Even though there was weakness and uncertainty last week, many investors and Forex […]
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July 12013
Eurozone Unemployment Rises, but Euro Heads Higher Anyway
The latest economic data out of the eurozone, showing that unemployment rose for yet another month, doesn’t seem to be slowing the euro down much in trading. The 17-nation currency is gaining against its major counterparts, thanks in large part to the risk appetite that seems to be showing as we kick off a new month, and the start of the second half of the year. Once again, the eurozone unemployment rate is on the rise. Eurostat reports […]
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July 12013
Yuan Advances as Chinese Manufacturing Expands
The Chinese yuan advanced today as the government report showed that manufacturing continued to expand last month and Chinese officials tried to soothe worries about the recent liquidity crunch. According to the official data, the China Manufacturing Purchasing Managers’ Index fell from 50.8 in May to 50.1 in June, but remained in the expansionary territory (staying above the 50.0 level of neutrality). At the same time, the HSBC China Manufacturing PMI fell from 49.2 to 48.2 […]
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July 12013
Yen Drops as Tankan Survey Reduces Risk Aversion
The Japanese yen dropped today as the Bank of Japan released its Tankan survey that showed an expansion of both manufacturing and non-manufacturing sectors last quarter. This data reduced risk aversion on the Forex market. The manufacturing index rose from -8 in the first quarter of 2013 to 4 in the second quarter. The non-manufacturing gauge increased from 6 in Q1 to 12 in Q2. The figures above zero indicate an advancement of the sectors. The yen fell against all […]
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July 12013
Which Forex Calendars to Use?
Forex calendar is a primary tool of fundamental analysis for many traders. Although there are many websites offering economic calendars to the currency traders, there are only 7 original websites (that I know of). The others are simply using the calendar widgets provided by the first companies. Forex Factory — offers simple interface combined with detailed reporting on all kind of events. It is probably a popular choice among […]
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July 12013
EUR/USD Picks Up as Traders Less Nervous
EUR/USD rose today as positive data from Japan made Forex traders less fearful and more willing to risk. Reports from Europe were not particularly good, but neither they were too bad. US data was mildly positive, yet it did not give an edge to the dollar today. ISM manufacturing PMI rose from 49.0 in May to 50.9 in June, being near the forecast of 50.6. Manufacturing […]
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