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Day: August 2, 2013

August 2
2013

Pound Climbs with House Prices & Construction

The Great Britain pound climbed today as house prices grew with pace that was two times above the forecast and as construction expanded much faster than was expected. The Nationwide House Price Index rose 0.8 percent in July, twice the predicted rate of 0.4 percent. The annual growth of 3.9 percent was fastest since August 2010. The seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index climbed from […]

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August 2
2013

Dollar Drops on Worse-Than-Expected Non-Farm Payrolls

The US dollar slumped today against most major currencies as non-farm payrolls came out worse that was predicted by analysts, fueling speculations that the Federal Reserve will refrain from trimming of monetary stimulus. Non-farm payrolls rose 162,000 in July, trailing the forecast of 184,000. What is more, the June’s increase was revised negatively from 195,000 to 188,000. At the same time, the unemployment rate ticked down from 7.6 […]

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August 2
2013

India Rupee Lead Asian Currencies in Weekly Decline

The Indian rupee fell today, leading other Asian currencies in weekly decline, as comments of the US Federal Reserve did not alleviate fears of quantitative easing tampering, making traders unwilling to buy riskier currencies of emerging markets. Market participants remain worried about possible QE reduction, paying more attention to positive data from the United States than to the words of policy makers. Today’s non-farm payrolls are expected to show […]

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August 2
2013

Malaysian Ringgit Heads to Weekly Decline

The Malaysian ringgit fell today and headed to the biggest weekly decline in more than a month as Fitch Rating cut the nation’s credit rating, driving investors away from the country’s assets. Fitch lowered Malaysia’s credit grade on concerns about rising debt levels. Prime Minister Najib Razak promised yesterday that the government will address the issue. Analysts predicted that next week’s report will show a drop of exports by 7.3 […]

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August 2
2013

Minor Design Update

As you have probably noticed, this blog has got a minor redesign for the main page recently. You can now browse posts using three tabs: recent, featured and topics: Recent — shows the latest posts in the blog. Featured — shows the important posts on various trading topics. Topics — shows a selection of post tags; you may click on any of the listed tags and quickly see the latest posts in that category. I have also […]

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August 2
2013

Nonfarm Payrolls Smaller than Expected, EUR/USD Climbs

EUR/USD surged today as nonfarm payrolls came out noticeably smaller than was expected by Forex market participants. The report eased concerns about possible tampering of monetary stimulus by the Federal Reserve. Nonfarm payrolls increased by 162k in July, compared to the median forecast of 184k. Moreover, the June’s increase was revised negatively from 195k to 188k. At the same time, the unemployment rate edged down by 0.2 percentage point to 7.4%, below the analysts’ […]

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August 2
2013

AUD/USD Drops on Fed Concerns, AUD/JPY Rises on China’s PMI

The Australian dollar slumped against its US counterpart on concerns about quantitative easing tampering from the Federal Reserve. The currency advanced versus the Japanese yen as China’s manufacturing expanded last month. China manufacturing Purchasing Managers’ Index advanced from 51.1 in June to 51.3 in July, frustrating analysts who have predicted a drop to 49.8. China is the biggest trading partner of Australia. Institute for Supply Management reported that the US […]

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