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Day: August 6, 2013
August 62013
Economic Data Boosts Euro
Economic data is boosting the euro right now, providing the 17-nation currency with a little help against many of its counterparts. With better economic news pointing to eurozone recovery, the euro is getting a little help on the Forex market today. The eurozone’s 18-month recession might be coming to an end, and that is providing the euro with a bit of help today in Forex trading. The latest factory output data out of Germany […]
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August 62013
Canadian Dollar Drops on Expectations for Employment Data
Canadian dollar is lower today, dropping against its major counterparts, as Forex traders look ahead to July’s employment data, which many expect to be somewhat disappointing. Following the US jobs report, which was weaker than expected, some believe that Canada’s jobs report for July, which will be released on August 9, will also be weaker than originally thought. The news that the Canadian […]
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August 62013
Brazilian Real Drops to 4-Year Low, Fueling Inflation Concerns
The Brazilian real dropped today, touching the lowest level in four years. The drop caused concerns that weakening currency will boost inflation, which is already at the elevated level. The currency rebounded as of now. Analysts raised their 12-month inflation forecast from 5.83 percent to 5.93 percent as the real has dropped 13 percent last quarter. The central bank lifted the main interest rate last month to rein growth of consumer […]
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August 62013
Aussie Bounces Even as RBA Cuts Rates
The Australian dollar climbed today even though the central bank cut interest rates. The statement was less dovish than usual, allowing the currency to bounce, while positive economic data added to the strength of the Aussie. The Reserve Bank of Australia cut its main interest rate by 25 basis points to 2.5 percent as was widely expected. Yet the Aussie rose as the bank dropped the wording “the inflation outlook could provide some scope […]
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August 62013
Specialized US-Based Forex VPS — Natcoweb Hosting
A new VPS company has been listed on EarnForex.com today. Natcoweb Hosting is based in Clifton, New Jersey. They offer a special VPS plan for currency traders with pre-installed MetaTrader platform. They also offer high-performanceall-purpose VPS and dedicated hosting, which is somewhat reflected in their rather robust Forex VPS configuration. Unfortunately, they do not offer much of interest to FX traders other than the platform. […]
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August 62013
Good Data from Europe Makes EUR/USD Stronger
EUR/USD climbed today as Italian economy contracted less than was predicted by analysts (event A on the chart) and German factory orders grew faster than was anticipated by market participants (event B on the chart). The currency pair dropped yesterday on positive report from the United States and may yet retreat as today’s data was not bad either. US trade balance shrank to $34.2 billion in June down from $44.1 billion […]
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August 62013
Yen Erases Gains on Leading Indicators
The Japanese yen was rising today ahead of this week’s policy meeting as traders believed that the central bank will keep monetary policy unchanged. The currency lost gains after leading indicators fell more than was expected. The Bank of Japan will announce its policy decision on August 8 and most economists think that no changes to monetary policy will be made. The TOPIX index of stocks fell […]
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August 62013
Positive UK Economic Data Makes Pound Stronger
The Great Britain pound rose against the US dollar and the euro yesterday and kept most of its gains today as macroeconomic reports were very good. The currency lost to the Japanese yen despite the good fundamentals. The Markit/CIPS UK Services Purchasing Managers’ Index demonstrated a huge jump from 56.9 to 60.2 in July. It was the highest reading since December 2006. British Retail Consortium reported that UK retail sales values […]
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