Posts Tagged ‘ December ’
The EUR/USD currency had a change on its positive trend today despite a fall in the U.S. number of pending home sales, as factory orders rose in North America and mainly thanks to an ECB statement affirming that stimulus will last as long as they are necessary to help the region’s economy to increase its pace of recovery. EUR/USD is falling and currently trades at 1.3565. Pending Home Sales, a forward-looking indicator based on contracts signed in January, fell [ READ MORE ]
Thanks to the better than expected U.S. non-farm payrolls report, the sun is shining brightly on the financial markets. Equities rose to their highest levels in more than a month while the dollar saw its strongest performance against the Japanese Yen since early December. The improvement in risk appetite helped to drive currency traders [ READ MORE ]
It’s still anyone’s guess as to if and when China will allow the Yuan (RMB) to continue appreciating. You can see from the chart below – which shows the trading history for the RMB/USD December 2010 futures contract – that expectations of revaluation have eroded steadily since December 2009. At that time, it was projected [ READ MORE ]
The dollar pared much of the euro’s advance from last week as several reports in the U.S. indicated that economic improvements in the country are far more positive than the situation in most Eurozone member countries, as manufacturing increased for another month and personal spending rose beyond forecasts. The EUR/USD currency pair trades currently at 1.3505. Personal income rose by 0.1% in January from a previous revised increase of 0.3% in December and below forecasts that suggested [ READ MORE ]
Weaker than expected Chinese PMI Data reversed a small short covering rally in risk FX as European markets opened for trade at the start of the week. Chinese CFLP Manufacturing PMI slowed to 52.0 from 55.8 the month prior which the HSBC gauge dipped to 55.8 from 57.4 in January. Both measures remained firmly in [ READ MORE ]
The dollar outperformed virtually all of the 16 main traded currencies as domestic reports ranging from manufacturing to housing showed better than expected numbers for the U.S. economy, boosting attractiveness for assets in the country as the economic growth accelerates. The euro erased yesterday’s gains as the EU is unlikely to fund a bailout for Greece to solve its budget deficit issues. EUR/USD is near the lowest level in 2010 and trades at 1.3608. Building permits were at seasonally adjusted [ READ MORE ]
The dollar erased yesterday’s advanced versus the euro as better than expected corporate earnings brought risk appetite back to trading markets as speculations suggested that euro losses would be too significant compared to the size and the relevance of the Greek economy in the EU. The dollar fell despite positive domestic data and the EUR/USD currency pair currently trades at 1.3668. N.Y. Empire State Manufacturing index increased to 24.9 in February from a previous reading of 15.9 [ READ MORE ]
The EUR/USD currency pair is ending this week posting a decline as economic data published in Europe was again less optimistic than in the U.S., after retail sales and business inventories improved in the North American country in reports published today, as well as employment conditions, which could be verified in a jobless claims report published yesterday. In Europe, quarterly gross domestic product released today brought more pessimism to the region as actual data [ READ MORE ]
The U.S. dollar pared losses versus the euro today despite the negative numbers brought by a trade balance report published today, since the Greek crisis is still the factor defining market sentiment. The dollar fell yesterday on speculations that an EU summit to be held tomorrow would include a proposal to rescue Greece, but today, as these expectation faded out, the dollar returned to its bullish pattern. EUR/USD currently trades at 1.3734. U.S. [ READ MORE ]
In December, I posted about Ben Bernanke (Bernanke’s Background and Near-Term US Monetary Policy), specifically about how a basic understanding of Bernanke’s academic background and philosophical approach to monetary policy could be useful for predicting the general direction of interest rates, irrespective of prevailing economic conditions. This post, is somewhere between a follow-up and a [ READ MORE ]
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