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Day: September 2, 2013
September 22013
Week of Central Banks, Is It Bullish for USD?
The US dollar ended both the last trading week of August and the month itself with solid gains. Should traders remain bullish on the currency? Analysts do not see reasons not to be. The first trading week of September started rather quietly as the United States were celebrating the Labor Day. Yet the rest of the week will be anything but quiet. As much as five major central banks will announce policy decisions: […]
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September 22013
NZ Dollar Jumps as China’s Manufacturing PMI Reaches 16-Month High
The New Zealand dollar jumped today as China’s manufacturing index climbed to the highest level in 16 month, suggesting that the economy of New Zealand’s biggest trading partner is still in a good shape. Chinaâs manufacturing Purchasing Managers’ Index climbed from 50.3 in July to 51.0 in August. Analysts have predicted ahead of the data a smaller increase to 50.6. The report said that the improvement was caused mainly by new orders and noted: In our […]
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September 22013
Japanese Yen Lower Across the Board
Japanese yen is lower across the board today, dropping as continued economic stimulus measures keep the currency lower against its major counterparts. With economic stimulus likely to continue in Japan, yen weakness is expected to be a regular part of the landscape. The economic stimulus efforts in place by the Bank of Japan are expected to be working, with expectations high for an upward revision to GDP for the second quarter of 2013. However, even with […]
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September 22013
Better Economic Data Doesn’t Help the Euro Much
The latest economic data isn’t doing much to help the euro today. The 17-nation currency is struggling against its major counterparts, despite the latest report on manufactured goods. There are still enough concerns about the eurozone and its recovery to give some Forex traders pause about the euro. Markit Economics reports today that the Purchasing Managers’ Index (PMI) moved up to 51.4 in August, showing an improvement over the July […]
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September 22013
Ringgit Advances on Hopes for Fiscal Measures
The Malaysian ringgit advanced today, paring earlier decline, on hopes that the government will announce measures that will help to improve the financial health of Malaysia. The Malaysian government is expected to announce measures that should reduce spending. Among them: a consumption tax, reduction of subsidies and delay of infrastructure projects. The ringgit rallied, paring the previous drop that was caused by concerns about possible quantitative easing tampering by the US Federal […]
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