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Day: December 3, 2013
December 32013
GBP Rises vs. USD, Fails vs. EUR & JPY
Positive economic reports continued to drive the Great Britain pound higher against the US dollar, but did not help the currency versus the euro and the Japanese yen. UK retail sales grew 0.6 percent in November, according to British Retail Consortium. The Markit/CIPS UK Construction Purchasing Managersâ Index rose sharply from 59.4 in October to 62.6 in November, exceeding expectations by a wide margin. For some time traders were worried that […]
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December 32013
Eurozone Factory Prices Can’t Keep Euro Down
Euro is gaining ground against the US dollar and the UK pound today, even with the latest producer prices data. Even with the eurozone struggling, and stocks losing ground today, the 17-nation currency continues to forge ahead. The latest producer prices data out of the eurozone paint a disappointing picture. Instead of decreasing by only 0.2 per cent, as forecasted, prices dropped by 0.5 per cent in October. The year over year drop […]
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December 32013
Yen Strengthens as Traders Look for Safer Assets
With volatility on the rise, many Forex traders are looking for a little safety. As a result, it’s not really surprising that the yen is heading higher. Yen is on the rise as traders and investors look for a little safe haven as they await the next round of economic data and interest rate decisions. Japanese yen moved off a six-month low against the US dollar and is gaining ground against the euro and the pound as well right […]
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December 32013
Yuan Stable After Services PMI Slides
The Chinese yuan was little changed today after the gauge of the services industries slipped a little last month. The drop was very small and did not affect the currency strongly. China’s non-manufacturing Purchasing Managers’ Index fell from 56.3 in October to 56.0 in November. The data followed yesterday’s report that showed that the manufacturing PMI was stable. It was reported that the yuan became the second most-used currency in global […]
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December 32013
Aussie Manages to Rebound After RBA Meeting
The Australian dollar fell today after the Reserve Bank of Australia held its monetary policy meeting, but managed to rebound later and now trades near the opening level against the Japanese yen and above the opening versus the US dollar. The RBA kept its main interest rate at 2.5 percent today. The statement was almost unchanged from the previous one and central bank’s Governor Glenn Stevens was again complaining that […]
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