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Day: June 30, 2014
June 302014
Euro Climbs Even as Eurozone Inflation Doesn’t Accelerate
The euro jumped today even though an inflation report from the eurozone was not as good as economists have hoped for. Over a longer term, the currency moves sideways versus the euro and demonstrates bullish bias versus the US dollar. The eurozone Consumer Price Index rose 0.5 percent in June on an annual basis, at the same rate as in May. Analysts have expected inflation to accelerate to 0.6 percent. The European Central Bank conducts a monetary […]
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June 302014
Outlook for USD During Week of NFP & Independence Day
The US dollar experienced a very poor trading month in June due to unexpected dovishness of US policy makers and terrible GDP report. Can the greenback change the bearish trend in the first trading week of the new month? Unlike the last week, this weekâs fundamentals are expected to be mostly supportive for the US currency. The major event will be release of non-farm payrolls, which will be issued earlier than usual (on Thursday […]
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June 302014
CAD Drops on GDP Report, Pares Losses
Canada’s gross domestic product grew in April less than was expected by analysts, triggering a drop of the Canadian dollar. The currency is currently recovering, trimming losses versus the Japanese yen and trading close to the opening level against its US peer. GDP expanded 0.1 percent in April, at the same rate as in March. The growth was below the median forecast of 0.2 percent. The loonie (as the Canadian currency is nicknamed) dropped due to the report […]
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June 302014
Yen Loses Support of Fundamentals, Halts Rally
The Japanese yen halted its rally today and actually fell against some of its major peers as economic reports were not favorable to the currency. Today’s drop followed Friday’s big rally, meaning that part of today’s losses may be attributed to profit-taking. Japan’s industrial production rose 0.5 percent in May on a seasonally adjusted basis, while analysts predicted a 0.9 percent increase. Housing starts slumped 15.0 percent […]
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June 302014
NZ Dollar Slumps, Undermined by Poor Fundamental Data
The New Zealand dollar tumbled today, pushed down by very poor macroeconomic indicators. Not everything in today’s report was bad, but the data was negative enough to cause a massive slump of the currency. Building consents dropped 4.6 percent in May following the 1.9 percent increase in the previous month. Yet the seasonally adjusted number of new dwellings, excluding apartments (apartment number tends to strongly fluctuate from month to month), rose […]
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June 302014
VPS Service with 6 Years of Experience
A new VPS was added to the list of providers on EarnForex.com today. It is W2 Cloud — a hosting company founded in 2008 and based in New York. They work closely with their Forex customers to provide all the necessary technical part for a successful trading VPS setup. Their main features are the following: Rapid connection to major New York datacenters. Staff will install MetaTrader platform of a specified broker. Basic package […]
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June 302014
EUR/USD Heads to Monthly Gain
EUR/USD jumped today for the second trading session, heading to a small monthly gain even though it was falling in the first half of the month following the big drop in May. Today’s data from the United States was not bad, while European indicators, including the inflation report (event A on the chart), were weaker than market participants have expected, yet this did not prevent the rally of the currency pair. Chicago PMI […]
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