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Day: May 1, 2014
May 12014
NZ Dollar Gains on Optimistic Outlook for US Economy
The New Zealand dollar advanced today together with some other currencies of emerging markets as optimistic forecasts for tomorrow’s non-farm payrolls led to speculations that the US economy will lead global growth. Forecasters predict that tomorrow’s report will show growth of US employment by 216,000 jobs. Today’s unemployment claims data spoiled the optimistic outlook somewhat but did not erase it altogether. Signs of economic growth […]
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May 12014
Dollar Pauses Decline Ahead of Non-Farm Payrolls
The US dollar halted its decline that has occurred after yesterday’s monetary policy announcement of the Federal Reserve. Positive macroeconomic indicators helped the currency to resist the downward pressure, though the employment data was unexpectedly poor and made traders reluctant to buy the greenback ahead of tomorrow’s non-farm payrolls. Today’s data from the United States showed that personal income and expenditures grew in March, while the manufacturing index rose, surprising […]
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May 12014
Euro Looks for Direction After Data
The euro is in a kind of currency market limbo right now, looking for direction after the latest economic data for the eurozone. Eurozone leaders and ECB policymakers have expressed an interest in a weaker euro recently. The hope is that a weaker euro would help stimulate economic growth. Inflation and other measures of economic growth in the eurozone are lackluster, and a recovery depends on moves to goose the economy into growth. However, even with the desire to weaken […]
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May 12014
Positive Data Helps GBP Reach Multi-Year Record vs. USD
The Great Britain pound rose today, reaching new highs versus the US dollar, as economic reports from the United Kingdom were mostly good, confirming that recovery of the UK economy is gaining momentum. The Nationwide House Price Index grew 1.2 percent in April, two times the forecast growth by 0.6 percent. The seasonally adjusted manufacturing Markit/CIPS Purchasing Managersâ Index went up from 55.8 in March to 57.3 in April […]
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May 12014
Australian & Chinese Economic Data Negative for Aussie
The Australian dollar declined against the Japanese yen and erased the previous rally versus its US peer as economic data from Australia was not particularly good. The manufacturing report from China added to the bearish momentum. The manufacturing index of Australian Industry Group slipped by 3.1 to 44.8 in April. The Commodity Index fell by about 12.5 percent in April from a year ago. China’s Manufacturing Purchasing Managers’ Index rose a little from […]
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May 12014
EUR/USD Fails to Keep Gains
EUR/USD attempted to extend yesterday’s rally at the start of today’s trading session but was unable to keep gains, trading near the opening level right now. The euro was trying to gain on the dollar with help of speculations that the European Central Bank will delay an implementation of additional stimulus. The dollar was resilient due to some positive data from the United States, including the income and spending figures as well as the manufacturing index. At the same […]
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