Day: September 23, 2013

September 23
2013

US Dollar Index Looks for Direction

US dollar is mixed today, and the dollar index performance serves as an indication that there are some uncertainties surrounding the greenback in the wake of last week’s surprising FOMC decision. Right now, a number of currency pairs are rangebound, looking for direction and wondering what is likely to be next. A bit of uncertainty has crept into the markets today. China’s recent data is lackluster, and the US economic recovery doesn’t seem […]

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September 23
2013

Latest Good News Doesn’t Help Euro

The latest good news out of the eurozone isn’t helping the 17-nation currency much against its counterparts today. Even though business activity has improved, and Angela Merkel easily won another term as Chancellor, the euro is struggling today. Business activity is on the rise in the eurozone. According to a report from Markit Economics, business activity, led by Germany, accelerated in the second quarter of 2013. This news brings business activity to a high […]

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September 23
2013

Taiwan Dollar Retreats, Still Near Four-Month High

The Taiwan dollar retreated today, but still traded near the highest level in four months after the US Federal Reserve shook the market by refraining from quantitative easing tampering. The Fed made no changes to its stimulus program last week, surprising Forex market participants who have expected some form of QE tampering. Most currencies, except safer ones, surged after the decision, though trimmed their gains […]

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September 23
2013

Aussie Rises as China’s Manufacturing Growth Beats Expectations

The Australian dollar rose today after a report of China’s manufacturing was released on the weekend, showing that the sector expanded this month with faster pace than was predicted by analysts. The HSBC Flash China Manufacturing Purchasing Managers’ Index rose from 50.1 in August to 51.2 in September. It was the highest reading in six months. Analysts have anticipated a smaller increase to 50.9. The report said: The firmer footing was supported […]

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