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Day: September 25, 2013
September 252013
Sterling Jumps with Retail Sales
The Great Britain pound climbed today as retail sales unexpectedly jumped this month, extending the unending stream of positive macroeconomic data from the United Kingdom. The Confederation of British Industry high-street sales balance was at 34 percent in September, on an annual basis, up from 27 in August. Analysts have promised a drop to 24. Barry Williams, Asda Chief Merchandising Officer for Food, and Chair of the CBI Distributive Trades Survey Panel, said: […]
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September 252013
EUR/USD Gains on German Consumer Climate & US Budget Talks
The euro gained against the US dollar today as the German consumer climate remained positive and as the budget talks in the United States were hurting the greenback. The shared 17-nation currency was flat versus the Japanese yen and weakened against the Great Britain pound. The GfK German Consumer Climate (the indicator which reflects economic expectations of consumers in Germany) rose a little from 7.0 for September to 7.1 for October. The report said: German consumers are expecting […]
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September 252013
South Korean Won Falls on Intervention Concerns
The South Korean won weakened today on concerns that the nation’s central bank will intervene to rein the currency’s rally that may hurt the South Korean economy. Bank of Korea Governor Kim Choong Soo signaled that the central bank may act in response to increasing volatility on financial markets. The won was rising after absence of quantitative easing tampering from the US Federal Reserve resulted in risk appetite and higher demand […]
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September 252013
NZ Dollar Drops as Trade Deficit Swells
The New Zealand dollar dropped today after the trade balance deficit unexpectedly swelled last month, decreasing chances for an interest rate hike from the central bank. The trade deficit widened to NZ$1.2 billion in August up from NZ$771 million in July. Analysts have expected it to stay near the previous value. Traders now bet on 75 basis points interest rate hikes over the next 12 months down from […]
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September 252013
EUR/USD Climbs on US Budget Talks
EUR/USD climbed today on concerns that US budget talks will result in an impasse and a shutdown of the US federal government. US data was mostly in line with expectation during today’s trading session. Durable goods orders rose 0.1% in August, in line with market expectations, following the 7.4% slump in July. (Event A on the chart.) New home sales were at the seasonally adjusted annual rate of 421k in August, matching forecasts, up […]
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September 252013
US Dollar Unfazed by Poor Domestic Fundamentals
Macroeconomic data from the United States was significantly worse than traders have counted on, but it did not bother the US dollar which was able to profit from the risk-negative sentiment on the Forex market. The Richmond Fed index of manufacturing activity sank from 14 in August to 0 in September. It was a complete (and frustrating) surprise to specialists who have anticipated an increase to 17. The Conference Board Consumer Confidence […]
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September 252013
Euro Retains Losses on Germany
Today, the euro retained losses that it made yesterday as macroeconomic data from Germany disappointed Forex market participants, while the political situation in the country remained uncertain. The currency continued to rise versus the Great Britain pound. The Ifo Business Climate Index for industry and trade in Germany was at 107.7 in September, virtually unchanged from the August reading of 107.6. Economists have expected an increase to at least 108.4. Still, the data was not […]
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