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Day: August 30, 2013
August 302013
Pound Ends Month with Biggest Gains vs. Euro in a Year
The Great Britain ended the month with the biggest gain against the euro in a year as the sterling continued to rise on improving consumer sentiment and increasing house prices. The UK currency ended Friday flat versus the US dollar and closed with a small loss against the Japanese yen. The GfK UK Consumer Confidence Index increased by three points to -13 in August. The report said: As more and more official figures show that we are all […]
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August 302013
US Dollar Gains on Commodity Drop, Economic Gains
US dollar is heading higher today, gaining as better than expected economic data supports the greenback. Commodities are lower today, and a gold price below $1,400 an ounce is also helping the dollar in Forex trading. Greenback is gaining today, thanks in large part to the unexpectedly good economic data just released. US GDP increased by 2.5 per cent in the second quarter of 2013, up from the initial estimate […]
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August 302013
Latest Unemployment Report Can’t Help Euro
Pessimism is strong today, and the euro is heading lower as a result. Even a drop in the number of people claiming unemployment in July isn’t helping the euro. The 17-nation currency remains lower as uncertainty prevails, and as signs of growth in the US economy continue to support the greenback. Eurostat reports that the number of unemployed in the eurozone declined by 15,000 in the month of July. The decline, though encouraging, didn’t budge the unemployment rate, which is stuck at 12.1 per cent […]
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August 302013
NZ Dollar Stays Flat, Shrugs Off Negative Fundamentals
The New Zealand dollar was able to stay flat today even as domestic fundamentals were detrimental to the currency. The general market sentiment was not helpful either. Seasonally adjusted building permits fell 0.8 percent in July from June, compared to the consensus forecast of a 1.3 percent rise. The ANZ Business Confidence eased from 52.8 in July to 48.1 in August, though the report said that “business confidence and the various components remain […]
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August 302013
Data from Statistics Norway Makes Krone Weaker
The Norwegian krone fell today as a set of negative reports was released today by Statistics Norway, making the nation’s currency less attractive to traders who prefer to avoid risky assets due to the poor market sentiment. Norwegian retail sales dropped as much as 1.3 percent in July from June, when the decrease was by just 0.2 percent. Household consumption of goods slumped 2 percent last month from a month ago. The employment […]
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August 302013
EUR/USD Drops with Slower Pace as Fears Ease
EUR/USD continued to fall today, albeit with slower pace. Fears of war in Syria eased after both the Great Britain and France rejected to participate in an attack on the Middle Eastern country until the UN survey confirms that Syria indeed used chemical weapons. Today’s US data was moderately positive, but not too shiny. Both personal income and spending rose 0.1% in July, missing the forecast of 0.3%. In June, expenditures […]
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August 302013
Loonie Remains Soft vs. Greenback Ahead of GDP Report
The Canadian dollar remained soft today against its US counterpart after yesterday’s losses on concerns that today’s report will show that the nation’s economy shrank last quarter. Analysts estimated ahead of the official data that Canadian gross domestic product shrank 0.4 percent in the second quarter of this year. Meanwhile, US GDP expanded faster than was expected, showing that the US economy fares better […]
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August 302013
Signs of US Growth Propel Dollar Higher
The US dollar jumped as signs of economic growth in the United States fueled speculations about possible quantitative easing tampering by the Federal Reserve in September. US economic growth accelerated from 1.1 percent in the first quarter of this year to 2.7 percent in the second quarter, according to the preliminary estimate. It was above the advance estimate of 1.7 percent and the median forecast of 2.2 percent. Unemployment claims decreased from 337,000 to 331,000 last week, […]
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