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Day: March 5, 2014
March 52014
Pound Withstands Unfavorable Housing Data
The Great Britain pound was strong today in spite of economic data that was mixed at best. The housing data was very poor, while the service sector expanded with decent pace even though the growth was a little bit slower. The Shop Price Index of British Retail Consortium fell 1.4 percent in February, year-on-year, declining for the tenth straight month. It was the longest deflation period on the record. At the same time, […]
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March 52014
Dollar Shows Resilience in Face of Poor Reports
Today, US macroeconomic data was disappointing yet again following the set of positive reports released on Monday. It did not affect the US dollar in a strong manner as the greenback fell against the Great Britain pound, but managed to keep gains versus the euro and the Japanese yen. The employment estimate released by Automatic Data Processing showed growth by 139,000 in February, while investors hoped for growth by at least 159,000. Moreover, the January reading […]
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March 52014
Australian Economic Growth Accelerates, AUD Moves Higher
The Australian dollar advanced today as nation’s economic growth accelerated, exceeding analysts’ expectations. It supported the outlook that the Australian economy will be able to grow without additional stimulus. Australia’s gross domestic product expanded 0.8 percent in the fourth quarter from the previous three months. The actual value exceeded the forecast of 0.7 percent and the third quarter’s growth of 0.6 percent. The services index of Australian Industry Group jumped by 5.8 […]
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March 52014
Canadian Dollar Gets Boost as World Calms Down
Loonie is getting a boost today, thanks in large part to the fact that the world appears to be calming down and risk appetite is returning. Thanks to expected improvements to the Canadian economy, and to an improving situation around the world, the Canadian dollar is heading mostly higher today. Even though the Bank of Canada is expected to keep its rate relatively low, at 1 per cent, until next year, there is still […]
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March 52014
Euro Struggles Even After Positive Economic Data
Euro’s latest economic data was better than expected, but that doesn’t seem to be solving the 18-nation currency’s problems right now. Euro is still struggling in Forex trading, with many thinking that issues in Ukraine represent a risk to the eurozone economy. The latest PMI data and retail sales information paint a somewhat promising picture of improvement for the eurozone. However, even with this new data, there are […]
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March 52014
EUR/USD Volatile, Has Potential for Rally
EUR/USD was volatile during the last several hours and trades near the opening level as of now. The currency pair may yet rally as economic reports from Europe were good for the most part, while US data disappointed yet again, following the release of positive reports on Monday. ADP employment grew by 139k in February, missing the analysts’ estimate of 159k. Moreover, the January figure received a major downward revision from 175k to 127k. […]
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