UK jobs data surprises markets; GBP/USD bounces back from low
The UK sprung a surprise at world labor markets with solid jobs data, which has set off a 20-pip rally following an early recovery from today’s low (1.5932) before the release. As of writing, the GBP/USD is trading at around 1.5985. According to the report by the Office for National Statistics, the number of citizens registered for unemployment benefits fell by 13,700 in April to 1.59 million, against expectations of an increase of 4,500. The report also revised the March data indicating a … [Read More...]
UK jobs data surprises markets; GBP/USD bounces back from low
The UK sprung a surprise at world labor markets with solid jobs data, which has set off a 20-pip rally following an early recovery from today’s low (1.5932) before the release. As of writing, the GBP/USD is trading at around 1.5985. According to the report by the Office for National Statistics, the number of citizens registered for unemployment benefits fell by 13,700 in April to 1.59 million, against expectations of an increase of 4,500. The report also revised the March data indicating a … [Read More...]
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Trade forex with the MT4 app for iPhone from FX Solutions
FX Solutions LLC, a reputable retail Forex dealer, has released this month, an app for mobile trading on the iPhone- MetaTrader 4 (MT4). The MT4 app is very popular thanks to its powerful UI, enabling customers of FX Solutions to be able to trade Forex anytime, anywhere. Opportunities in Mobile Trading FX Solutions is providing another tool in the MT4 app, providing an array of several trade functions and trade analytics, said Michael Cairns, CEO of FX Solutions. Built in the form of … [Read More...]
How Forex Brokers Work
Just like any other business, the main aim of the forex broker is to make as big profit as possible. The best possible way that most of the brokers use is to follow the practices which are considered as fair by their clients. Most of the brokers tend to work within the certain boundaries, working outside which could render them with broken reputation. There are generally two types of brokers - Electronic Communication Network (ECN) and market makers. ECNs are more exclusive and provide direct … [Read More...]
More Forex Stories
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Euro recovers on back of better-than-expected German GDP
The euro stayed above a four-month low on Tuesday after Germany’s GDP figures surpassed expectations. However, the gains may be short-lived as the political stalemate in Greece continues to ignite fears that Greece may forgo its bailout pledges and exit the Euro. The German economy expanded during the first quarter by 0.5 percent, dispelling any concerns of a possible recession. However, a recent survey indicated that German analyst and … [Read More...]
Australian Dollar Falls After Poor Fundamental Data from China
The Australian dollar posted some losses, falling to its lowest level for this year, versus the US dollar. The slip was mainly attributed to poor macroeconomic data from China, which hurt the export prospects for Australia, and also the largely pessimistic market sentiment which reduced the appeal of growth-oriented currencies. China’s National Bureau of Statistics reported that the country’s consumer price index decreased from 3.6 percent … [Read More...]
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INR down 18 paise versus USD in late morning trade
Despite the RBI implementing various measures to stop the decline of the rupee versus the dollar, the INR slipped 18 paise to 53.60 against the USD in late morning trade. Fresh demand for dollars from importers and banks considering the strong dollar in international markets was the main reason for the rupee’s decline against the US currency. The rupee resumed lower at 53.49/50 per dollar at the Interbank Foreign Exchange (Forex) market, … [Read More...]
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Aussie Falls Across The Board; Poor economic fundamentals expected
The Australian dollar fell today, reaching its lowest level against the US dollar for this year, as market players expect poor fundamental economic data from Australia today. Australian employment levels are to see a dip of 4,800 in April, after a rise of 44,000 in March. Many analysts expect the unemployment rate to rise from 5.2 percent to 5.3 percent. According to estimates before the official figures, the trade balance deficit increased … [Read More...]
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Euro falls close to 3-month low due to political uncertainty in France and Greece
The euro dropped to a near 3-month low on Wednesday, due to concerns that the political uncertainty prevalent in Greece and a change in the French leadership might have a negative effect on the countries’ commitment to austerity plans vital to gain a foothold over the euro zone’s debt crisis The euro continued to reel under pressure following the declaration of the leader of Greece's Left Coalition party on Tuesday that the Greece’s … [Read More...]
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Euro May Record More Losses Due To Political Uncertainty
The euro posted losses today and is likely to remain vulnerable to more losses thanks to widespread concerns regarding the political uncertainty prevailing in Greece and the change in the French leadership, which could potentially destabilize the austerity measures that have been put in place to tackle the euro zone debt crisis. The two main parties in Greece, which were in favor of the international bailout programme, failed to secure a … [Read More...]
Anti-austerity attitude of new European politicians cause euro to post heavy losses
The euro plummeted across the board today following the results of the French and Greek elections about whether politicians are prepared to uphold their commitment to the austerity measures implemented to tackle the euro zone debt crisis. The euro hit a 3-month low against the USD, a 3-1/2 year low versus the pound sterling and a 2-1/2 month trough against the yen, with more losses forecasted in the near future. Greece's two main parties … [Read More...]
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Dollar and Euro Fall Against Safe Haven Yen Following Disappointing US payroll data
The euro and dollar fell against the safe-haven yen after a disappointing U.S. job report and jitters regarding the Sunday elections in Greece and France. The US economy job figures were less than expected for the second consecutive month in April, sparking concerns about the pace of recovery in the US and boosting the possibility of QE3 by the Federal Reserve in order to bring down interest rates and stimulate the economy. After cutting … [Read More...]
Dollar and euro steady ahead of U.S. jobs report and Elections in France and Greece
Although the dollar remained steady and held its ground against the euro and yen on Friday, it may be subject to downside risks if U.S. payroll data disappoints and gives rise to fresh concerns over additional monetary easing by the Federal Reserve. The euro remained more or less unchanged at $1.3150, after recovering from the previous day's 2-week low after ECB chief Mario Draghi did not hint on any further monetary stimulus for the … [Read More...]
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Euro drops after disappointing data; spotlight on ECB policy meeting
The euro continued to trade near a two-week trough against the U.S. dollar on Thursday, after plummeting overnight thanks to more disappointing economic news from Europe that has brought the focus on to the European Central Bank's policy meeting to be held later today. The common currency slipped 0.1% to $1.3144. It recorded a low of $1.3122 on Wednesday after economic data released in Europe showed continued weakness in the region’s … [Read More...]
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Aussie Falls Against Dollar and Yen after RBA Surprise
The Australian dollar plummeted on Tuesday after the Reserve Bank of Australia (RBA) cut rates by 50 basis points, more than what was initially expected. However, the U.S. dollar continued to hover around a 2-month low against a basket of currencies following disappointing economic data from various sources. Business activity in the U.S. Midwest fell sharply and Spain’s fresh recession negatively affected investors’ risk appetite and … [Read More...]
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Euro loses against dollar due to persistent euro zone concerns
The euro fell against the U.S. dollar on Monday, moving towards it worst monthly performance since December 2011. The currency is under pressure due to persisting euro zone concerns as German retail sales numbers fell short of expectations while Spain fell into recession. According to Boris Schlossberg, director of FX research at GFT in Jersey City, New Jersey, risk aversion is evident in the market, keeping in few the two causative factors of … [Read More...]
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Dollar ends week on a low note following weaker than expected U.S. GDP Data
The dollar performed poorly against the euro and the yen on Friday, recording multi-week lows, after US economic growth reportedly remained lukewarm in Q1 2012, increasing chances of more stimulus efforts from the Federal Reserve. The slow growth reflected companies cut back on investment and restock their shelves at a low rate while investors are worried that low rate of job creation will negatively impact consumer spending. Trading … [Read More...]
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Euro Takes Sharp Hit today After S&P Cuts Spain’s Investment-Grade Rating
The euro took a fall in early Asia trade today after Standard & Poor's Ratings Services lowered its investment-grade rating on Spain by two notches, giving rise to fresh concerns that the euro-zone crisis may have deepened. S&P brought down its long-term sovereign credit rating on Spain from A to triple-B-plus, three notches into investment grade. The overall outlook seems to be negative, thanks to the substantial domestic and external … [Read More...]
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Dollar records 3-wk low against various major currencies
The US dollar dropped to a three-week trough against various major currencies on Thursday in light of the Federal Reserve stating that it was prepared to start another round of bond buying in case there are more signs of the US economy weakening. Weakness on the part of the greenback helped boost the Canadian dollar and the British pound to a 7-month high against the greenback. This is because, unlike the Federal Reserve, the monetary … [Read More...]
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Euro rises after U.S. housing data release and successful Dutch debt sale
The USD fell against the euro on Tuesday as data indicating that U.S. home prices may finally be achieving stability made investors seek higher returns outside the US. The rise in the euro was also attributed to a successful debt auction in the Netherlands just one day after a budget dispute toppled the government. However, despite the positive news, the euro remained in the broad $1.30-$1.35 range that it has religiously stuck to throughout … [Read More...]
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Aussie at 2 week low as inflation data paves way for rate cuts
The Australian dollar dropped to a two-week low on Tuesday in light of soft inflation data boosting expectations of deep interest rate cuts to be carried out by the Reserve Bank of Australia. Meanwhile, the euro remained subdued ahead of a Dutch debt sale. Australian consumer prices rose by a lower than expected margin last quarter while key measures of underlying inflation showed the smallest gain in over 10 years, leading to a possible cut … [Read More...]
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Yen to remain under pressure ahead of BOJ; Aussie records minor losses
The Japanese yen is at its lowest levels in ten days against the greenback today and is likely to remain under pressure since additional easing is expected to be done by the Bank of Japan next week. The USD traded at 81.50 yen, after hitting a 1-1/2 week high at 81.74 yen the day before, highlighting its April 10 peak of 81.87. The euro rose to 107.13, recording a powerful comeback after Monday’s low of 104.63. Masaaki Shirakawa, governor … [Read More...]
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Euro drops following Sarkozy comments, Spain remains in focus
The euro fell against the USD today following French President Nicholas Sarkozy’s comments about a strong euro hurting exporters and that discussions regarding its exchange rate must be held with the ECB. Further, it seems that the euro will remain under pressure in light of investors continuing to be nervous about Spain’s fiscal troubles. Forex traders claimed that Swiss investors started selling immediately after Sarkozy’s … [Read More...]
China allows Yuan to have more space to float
For many years, a lot of countries have been asking China to let Yuan to float more easily in the world forex market. Now after a long time, China seems to be doing just that with a declaration that the Yuan will now be permitted to freely float against the US dollar. Now the currency can move either side of the currency peg of US dollar. Although Yuan won’t be a free floating currency per say because of the new policy, but it will still be … [Read More...]
