Posts Tagged ‘ March ’

USD: Big Moves Question Strength Of Us Recovery

The new quarter has started out with a bang as volatility ripped through the forex market on the first trading day in July. The euro staged its strongest rally against the U.S. dollar since March 18, 2009 while the dollar fell to its weakness against the Yen since November. Considering that equities have weakened across [ READ MORE ]

Decline in German Trade Suggests Exports May Not Rescue The Euro

German Trade Balance for April printed lower than expected coming in at 13.1 Billion euros versus 14.1 Billion projected. Exports were down a seasonally adjusted -5.9% in April while imports were also lower by -7.9%. The current account posted a surplus of 11.8 Billion euros down from 18.1 Billion in March but still registered the [ READ MORE ]

UK Trade Shows Mixed Results

UK Trade Balance missed its mark printing at -7.3 Billion pounds versus expectations of -6.8 Billion but the results were blamed on the disruption in air traffic due to the volcanic ash eruption during the month of April. On a positive note the data for the month of March was revised upward to -7.3 from [ READ MORE ]

Payrolls Fall Short of Expectations, Euro Aims for 1.20

Non-farm payrolls failed to live up to the market’s expectations, causing the U.S. dollar to plummet against the Japanese Yen. Although an addition of 431k jobs is the largest monthly gain since March 2000, it does not provide the sticker that a half million jobs would. [ READ MORE ]

Fresh Fears Threaten to Push Risk FX to New Lows

Another wave of risk aversion has swept global capital markets as tension between South and North Korea mounts. According to Bloomberg, The North Korea Intellectuals Solidarity group said on its web site that the country’s military was put on alert and the U.S. announced plans yesterday to conduct anti-submarine exercises with South Korea following the [ READ MORE ]

Euro Short Covering Ahead of Event Risk and on ECB Details

The price action in the financial markets overnight suggests that the weekend has brought no relief to investors who are still extremely nervous about the sovereign debt crisis in Europe. During the Asian trading session, the euro plunged to a 4 year low against the U.S. dollar while the British pound fell to its lowest [ READ MORE ]

Oil Affects US and Canadian Trade in Different Ways

Despite the improvement in the manufacturing sector, the March U.S. trade deficit climbed from -$40.4 billion to to -$39.4B, the highest level since December 2008. [ READ MORE ]

Euro Meltdown Accentuates Attractiveness of Dollar, Overshadows Data

Traders continue to dump euros this morning, pushing the currency to a low of 1.2804, its lowest since March 2009. [ READ MORE ]

China’s Forex Reserves Surge to New Record

There are no words to describe the size of China’s foreign exchange reserves. Massive, Mind-Boggling, and Eye-Popping come to mind, but don’t do the $2.447 Trillion justice. What’s more, this figure represents the end of March; the current total has almost certainly surpassed $2.5 Trillion. Interesting, the rate of reserve accumulation has slowed markedly from 2009. [ READ MORE ]

EUR/USD Rises After Reaching New Low in a Year

EUR/USD continued its fall today during the early Forex trading session but then managed to go up above the opening level as Greece adopted a bail-out plan offered by the European Union. Fundamental reports were mixed today, with a huge surprise from the U.S. real estate market. The currency pair is now trading near 1.3308 after going down to as low as 1.3201 — the lowest level since April 2009. Durable [ READ MORE ]

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