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Day: November 4, 2013
November 42013
Factory Data Helps Euro
Factory data is helping the euro today, boosting confidence in the 17-nation currency region. However, there are still questions about the euro, and concerns about what could be next. As a result, it appears that the euro’s rally is somewhat limited. Eurozone PMI accelerated in October, and did so in line with expectations. However, other data reveals that eurozone inflation is still well below the 2 per […]
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November 42013
Dollar Pulls Back Against Majors
The US dollar is pulling back against its major currency counterparts today, thanks in a large part to Federal Reserve expectations. Greenback is down pretty much across the board, and the dollar index has retreated from its earlier level above 81.00. One of the biggest drivers of US dollar performance continues to be the Federal Reserve, and speculation over when tapering will begin. Even though the economic data in the United […]
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November 42013
Pound as Construction Sector Expands
The Great Britain rose today, recovering from the last week’s slump a bit, as the construction sectors expanded more than was anticipated, adding to mounting evidences of economic recovery in the United Kingdom. The Markit/CIPS UK Construction Purchasing Managers’ Index rose from 58.9 in September to 59.4 in October. It was a surprise to market participants as they have expected the gauge to stay unchanged. The rise of index, which is above the neutral 50.0 level, […]
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November 42013
Aussie Advances with Retails Sales & China’s Services
The Australian dollar advanced today as domestic retail sales exceeded forecasts, giving hopes that the Reserve Bank of Australia will refrain from an interest rate cut. Positive data from China supported the currency too. Australian retail sales advanced 0.8 percent in September from August, more than was forecast (0.5 percent). China’s services Purchasing Managers’ Index went up from 55.4 in September 56.3 in October, […]
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November 42013
Using Commitment of Traders Report to Trade Forex
It is a widely know fact that CFTC (Commodity Futures Trading Commission) is a regulatory institution for the Forex market in the United States. It is a less known fact among spot FX market participants that this institution releases Commitment of Traders report every Friday (normally). Commitment of Traders (CoT) is a series of simple reports for all types of futures contracts regulated by CFTC (except holidays or special cases, […]
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November 42013
EUR/USD Rebounds as European Manufacturing Expands
EUR/USD rebounded today, recovering from the lowest level since September 18, as the eurozone manufacturing continued to expand in October. (Event A on the chart.) Data from the United States was good too, but the currency pair had little room to fall further after the last week’s huge slump. Factory orders rose 1.7% in September, a bit below the forecast of 1.9%. The August data was postponed for a month because of the government shutdown and demonstrated […]
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