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Day: February 5, 2014
February 52014
Aussie Weak on Concerns About China, Does Not Fall Far
The Australian dollar was a bit soft today on concerns about slowing economic growth in China. The currency did not fall far after yesterday’s big jump, and it looks like the Aussie has bottomed out, ending the downtrend. Analysts estimated that the growth of China’s gross domestic product may slow from 7.7 percent in 2013 to 7.4 percent in 2014. It is still a robust value compared to many other […]
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February 52014
Economic Data Does Not Help Dollar Establish Trend
The US dollar was not able to establish a definite trend today as macroeconomic data was mixed and did not provide a clear picture of the US economic health. The greenback was down against the Japanese yen and a bit lower versus the euro, but rose a little against the Great Britain pound. The employment report from Automatic Data Processing demonstrated growth by 175,000 in January. It was noticeably below the expected value of 197,000 […]
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February 52014
Canadian Dollar Pulls Back After Gains
Canadian dollar is pulling back a little bit after gaining earlier. Loonie was higher earlier as economic optimism returned to Canada, and a lowered risk of interest rate cuts. However, after seeing some gains, the Canadian dollar is pulling back as risk aversion returns to markets and as traders take some profits. Against the US dollar, the Canadian dollar has been enjoying a bit of a run. Earlier today, the loonie looked […]
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February 52014
Eurozone Deflation Risk Weighs on Euro
Euro is struggling today, thanks in large part to the increased deflation risk for the 18 country currency region. Retail sales figures are the culprit today, indicating that the Christmas shopping season didn’t do much for the eurozone economy. The latest retail sales figures are down, show that the eurozone’s holiday shopping season didn’t go as well as expected. Retail sales in December were 1 per cent lower in 2013 […]
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February 52014
Surprisingly Bad Macroeconomic Indicators Push Sterling Down
The Great Britain pound dropped today due to surprisingly disappointing data from the United Kingdom. The services index unexpectedly fell and shop prices demonstrated deflation for the ninth month in a row. The Markit/CIPS UK Services Purchasing Managers’ Index was down from 58.8 in December to 58.3 in November. It was an unpleasant surprise to market participants who have expected an increase to 59.1. The Shop Price Index of British Retail Consortium demonstrated a 1.0 […]
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February 52014
NZ Dollar Unable to Keep Gains Despite Positive Employment Data
The New Zealand dollar was falling today despite very strong employment data released at the end of yesterday’s trading session. The currency demonstrated a huge jump on the previous session and it is likely that traders just considered such gains to be unsustainable. New Zealand employment grew by 1.1 percent in the fourth quarter of 2013 from the previous three months, almost twice the forecast value of 0.6 percent. The unemployment rate fell […]
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February 52014
EUR/USD Flat After Weak US Employment Report
Employment data from the United States was very weak, but surprisingly enough it drove EUR/USD down, not up as one might have expected. Better-than-expected data about the US services sector also had an unexpected impact as it drove the dollar down against the euro. In the end, the conflicting macroeconomic indicators left the currency pair almost flat. This week is very important as the European Central Bank will […]
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February 52014
MetaTrader 4 Build 600 Is MetaTrader 5 in Disguise!
After a long period of open beta-testing, MetaQuotes has finally released its MetaTrader 4 Build 600 this Monday. It is a significant step to bringing MT4 closer to MT5 without adding all those restrictions and limitations that infuriated traders when MetaTrader version 5 had been released back in 2009. According to one of my polls, at least a half of the MetaTrader users support this new major update: MQL4 […]
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February 52014
Aussie Strong as RBA Rules Out Interest Rate Cut
The Australian dollar surged yesterday and maintained its gains today as the nation’s central bank refrained from an interest rate cut and signaled that it is going to keep borrowing costs stable. Furthermore, the bank dropped the mention of a strong exchange rate, meaning that it is not going to take steps for weakening the currency. The Reserve Bank of Australia maintained its main interest rate at 2.5 percent at yesterday’s monetary policy […]
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