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Day: May 5, 2014
May 52014
Latest Eurozone Growth Figures Don’t Slow Euro
The latest forecast from the European Commission isn’t slowing the euro down too much in Forex trading today. Even though the latest numbers for the eurozone aren’t as good as expected, the euro is still doing reasonably well today. The European Commission just released its latest forecast for the eurozone. The 18-nation currency region isn’t expected to see the kind of growth previously planned for. Indeed, the eurozone’s inflation rate is expected to be […]
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May 52014
UK Pound Pulls Back After Friday’s Performance
Last Friday, the UK pound put on quite the show, reaching a level not seen in four years against the US dollar. Today, the pound is pulling back against its major counterparts as Forex traders consolidate and take profits. Friday’s performance was helped along by the jump in manufacturing output. Markit Economics reports that PMI increased to 57.3 in April, up from 55.8 in March. That indicates continued expansion, and indicates […]
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May 52014
India Rupee Fluctuates amid Conflicting Forces
The India rupee fluctuated today as the positive outlook for the US economy was helping riskier currencies, but bad news from China and Ukraine made Forex traders averse to risk. Positive US economic data had a surprising effect on the Forex market, providing almost no help for the dollar but allowing currencies of emerging economies to rally. This week traders were less willing to risk, putting pressure on currencies associated with […]
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May 52014
Yen Profits from Its Role as Safe Investment
The Japanese yen climbed today as poor macroeconomic data from China and escalating tensions in Ukraine put the Forex market in the risk-off mode, which supported the currency in its role of a safe haven. The HSBC manufacturing Purchasing Managersâ Index was at 48.1 in April, below the preliminary estimate and analysts’ expectations. The reading below 50.0 indicates contraction of the sector. Clashes in Ukraine left more than 100 people dead, reducing chances for a peaceful end […]
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