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Day: January 15, 2014
January 152014
Export Data Doesn’t Help Euro in Forex Trading
Eurozone’s export data isn’t helping the euro much today, as the 18-nation currency is dropping against most of its major counterparts. Concerns about the eurozone recovery persist, even though exports have increased in the periphery. The export situation in the eurozone is an interesting one right now. According to Eurostat, exports from the eurozone fell by 2 per cent year over year in November. This coming after an increase in October. The news […]
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January 152014
Upbeat Retail Data Helps US Dollar in Trading
Greenback is higher today, gaining ground as upbeat retail data from December helps promote the idea that the US economy is still headed for recovery. Many had expected disappointing retail sales figures for December, since the holiday season was a bit lackluster. However, when the numbers came in, they were better than expected. This made up for last week’s disappointing payrolls data. Now, the two-day […]
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January 152014
Franc Drops Despite Positive Swiss Retail Sales
The Swiss franc was among losers today even though domestic macroeconomic data was very good and should have provided support for the currency, which trades very similar to the euro due to the Swiss National Bank effective peg of the franc to the eurozone currency. Swiss retail sales (seasonally adjusted) expanded 4.2 percent in November from a year ago after rising 1.6 percent in October. Experts counted on an increase by 2.3 percent. […]
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January 152014
Malaysian Ringgit Falls as US Retail Sales Rise
The Malaysian ringgit fell today together with other Asian currencies after yesterday’s report showed that US retail sales exceeded analysts’ expectations, increasing chances for additional stimulus cuts by the Federal Reserve. Core retail sales advanced 0.7 percent in December from November, more than was forecast — 0.4 percent. Total sales increased 0.2 percent. The World Bank trimmed its forecast for growth of developing economies […]
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January 152014
Solid US Economic Data Brings EUR/USD Down
EUR/USD sank today as US macroeconomic reports were rather solid. Hawkish tone of US policy makers’ comments weakened the currency pair further. It looks like even the abysmal employment data was not able to deter the central bank from reducing its monthly asset purchases. PPI advanced 0.4% in December, seasonally adjusted. It is compared to the forecast of a 0.5% increase and the 0.1% drop in November. (Event A on the chart.) […]
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