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Day: May 7, 2015
May 72015
Aussie Struggles After Rate Cut, Employment Data
After moving above the US80¢ earlier, the Australian dollar is struggling. Thanks to disappointing employment data and a rate cut earlier this week, the Aussie is feeling a little weak against some of its counterparts. Earlier this week, the Reserve Bank of Australia cut the cash rate to 2 per cent. There have been concerns about the Australian economy since gold prices have been low and since growth is slowing […]
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May 72015
Euro Continues Run in Forex Trading
Euro has been enjoying a run of relative strength in recent days, and today is no different. Evidence that maybe the ECB didn’t need to be quite so aggressive with quantitative easing, as well as better feelings about the Greece situation, have been supporting the 19-nation currency. Euro is higher almost across the board today as its performance continues to show strength. After almost falling to parity in April, the euro […]
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May 72015
EUR/USD Dominated by Euro Macro Reports
EUR/USD was moving mostly under the influence from the macroeconomic reports that came out of the eurozone during the early trading session today. The currency pair’s reaction was slow but soon gave in to poor German factory orders, construction PMI, and retail PMI reports (events A, B, and C on the chart). The weekly unemployment statistics from the United States produced only a temporary rate spike on the Forex market. US initial […]
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