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Day: October 22, 2013
October 222013
Dollar Drops as Non-Farm Payrolls Disappoint
The US dollar dropped sharply against most major currencies today after non-farm payrolls frustrated market participants, showing employment growth that was slower than investors have hoped for. Non-farm payrolls have been delayed because of the government shutdown and were released only today. Traders hoped for solid growth, but were frustrated as US employers added just 148,000 jobs in September. The value was far […]
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October 222013
Economic Data Supports UK Pound
Economic data is providing support for the UK pound. Not only is the budget deficit in the United Kingdom narrowing, but the news out of the United States has been helping a bit. With all of the improved information, the UK pound is getting a bit of a boost today. The United Kingdom’s government statistics office said that the budget deficit shrank in September. The budget deficit narrowed from 12.5 billion pounds a year earlier […]
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October 222013
Euro Surges with Risk Appetite
Euro is surging today as risk appetite returns to the markets with the release of US payroll data. With the data for September showing modest improvement, and with the numbers for August revised higher, a surge of interest in risk assets is helping high beta currencies like the euro. Thanks to the government shutdown, payrolls data was delayed for October. The numbers were released earlier today, showing that the United States saw an increase of jobs […]
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October 222013
Won Erases Loss as Investors Buy South Korean Stocks
The South Korean won rose today, paring its previous decline, as investors continue to buy the nation’s assets, pumping capital into the South Korean economy. Speculators continued to buy more South Korean stocks more than they were selling. It looks like risk appetite surged after the debt crisis in the United States was resolved and the Federal Reserve postponed quantitative easing trimming. There are concerns that […]
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October 222013
Lira Steady as Turkish Bonds Attract Carry Traders
The Turkish lira held steady today, rebounding from the intraday drop, as nation’s bonds were offering big return, attracting carry traders and making the currency more appealing. Turkish debt was offering one of the highest yields among emerging markets, spurring traders to borrow in countries with low interest rates (like the United States) and invest into Turkey’s assets. Prospects for low borrowing costs in the USA in the near futures suggest […]
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October 222013
NFP Disappoint, EUR/USD at Highest Since November 2011
US nonfarm payrolls, which were delayed because of the US government shutdown, were expected to show robust growth of employment. Instead, they significantly disappointed Forex traders, leading to a surge of EUR/USD to the highest since November 2011. Other reports were mixed, but not particularly supportive for the dollar either. Nonfarm payrolls sank from 193k (upwardly revised from 169k) in August to 148k in September, frustrating analysts who have […]
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October 222013
Aussie Near Record Since June
Today, the Australian dollar traded near the highest level since June as Forex market participants speculated that the central banks of Australia and the United States will not make changes to their monetary policies in the near future. Economists think that chances for an interest rate cut from the Reserve Bank of Australia are not that big. At the same time, it is hard to believe that the Federal Reserve will dare to raise […]
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