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Day: September 12, 2013
September 122013
Unexpected Slump of Jobless Claims Boost US Dollar
The US dollar was able to halt its drop today as the unexpected slump of jobless claims reignited speculations about possible quantitative easing tampering from the Federal Reserve. The currency was not able to rise versus the Japanese yen. Claims for unemployment benefits decreased by as much as 31,000 to 292,000 last week, demonstrating the biggest drop since April 2006, instead of rising as was expected by economists. Many analysts were skeptical about […]
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September 122013
Output Data Doesn’t Hurt Euro Too Much
While the euro was lower earlier, it is recovering some of its equanimity now. Even though factory output data disappointed, and the euro dropped, things are changing a bit, and the 17-nation currency is struggling its way higher as risk aversion fades a little bit. Earlier today, Eurostat released data about the eurozone’s manufacturing data. Factory output dropped by 1.5 per cent between June and July, representing […]
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September 122013
Safe Haven Demand Helps Japanese Yen
Japanese yen is gaining ground today as risk aversion makes an appearance and low beta currencies are sought for their safe haven qualities. With concerns over the possibilities in Syria, and with equity losses, Forex traders are turning to safety. Japanese yen is higher almost across the board today as risk aversion sets in. Overnight losses in Japanese stocks are prompting gains for the yen as traders look for safe […]
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September 122013
China’s Growth Benefits Thai Baht
The Thai baht advanced today as signs of economic growth in China improved the investors’ risk sentiment, leading to increasing demand for assets of emerging economies. Recent macroeconomic data suggests that China’s growth remains robust, despite previous signs of weakness. It made traders more interested in higher-yielding currencies. The baht profited from this as capital inflows into Thailand increased. Overseas funds expanded their holding of Thai stocks by more […]
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September 122013
Australian Dollar Dips on Disappointing Employment Data
The Australian dollar dipped today after the employment report came out far worse than was expected, triggering speculations about possible interest rate cut. Australian employment decreased by 10,800 jobs in August, while analysts have anticipated an increase by roughly the same amount. This reading followed the July drop by 11,400. As a result, the unemployment rate increased from 5.7 percent to 5.8 percent (it was expected). The poor data […]
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September 122013
EUR/USD Halts Rally as Jobless Claims Unexpectedly Plunge
EUR/USD ended its rally, falling for the first day in five, after US unemployment claims surprised market participants, plunging by a huge amount. Such data reinforced expectation of quantitative easing tampering from the Federal Reserve next week. The currency pair attempted to rebound, but is falling again right now. Initial jobless claims decreased from 323k to 292k last week. It was a very surprising result, considering […]
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