Posts Tagged ‘ recovery ’
A recovery is not much of a recovery when there is no job growth and consumer spending. Friday’s labor market report is not expected to provide any encouragement for supporters of the U.S. recovery because job losses could accelerate. The improvements in the labor market have been uneven and we expect this trend [ 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 ]
A probative night of trade in the currency market during the first session of the week as risk FX tested key levels in late Asia on the weaker than expected Chinese PMI data only to recover some ground after EZ results beat forecasts. Chinese PMI Manufacturing which printed at 52.2 versus 55.4 the moth prior [ READ MORE ]
The dollar allowed the euro to retreat slightly after the Eurozone currency reached the lowest level in 2010 versus the greenback, as unemployment figures and durable goods data published today cooled down the optimism towards the U.S. economic recovery. Even with negative reports in North America, the euro had only a timid rise considering the extremely unfavorable market sentiment towards its region. EUR/USD is currently at 1.3528. Initial jobless claims rose again [ READ MORE ]
It has been another interesting trading day in the financial markets with equities and currencies staging a sharp end of day reversal. The EUR/USD traded within a hair of its 9 month low on an intraday basis a few times before moving into positive territory. Economic data in the U.S. was very weak [ READ MORE ]
EUR/USD continued to trade cautiously on either side of 1.3550 after setting yet another fresh eight month low at 1.3440 in early European trade, while cable was pressured by negative comments from BOE’s Barker who suggested that another quarter of negative growth was a distinct possibility for the beleaguered UK economy. In an [ READ MORE ]
The sharp recovery in the EUR/USD has traders across the globe confused about why the dollar gave up its gains against the euro if normalization of U.S. monetary policy should be positive for the dollar. Given that the euro was not the only currency to strengthen against the greenback, the price action in the [ READ MORE ]
Risk currencies continued their recovery rally in Asia and early European trade but ran into wall of selling after UK unemployment data shocked to the downside indicating that economic growth in Great Britain remains extremely weak. UK claimant count rose to 23.5K rather than contracting by -14.6K as markets forecast. The unemployment [ READ MORE ]
As expected the Bank of England left its overnight funding rate at 0.5% and decided against expanding its quantitative easing program beyond the current 200 billion pound limit. In their prepared statement the MPC members acknowledged that the UK recovery has been tepid so far as the “economy recorded sluggish growth in the final [ READ MORE ]
In 2009, so-called commodity currencies – both individually and as a group – registered record-breaking gains. The Brazilian Real and the South African Rand finished up more than 30%, while the Australian and New Zealand Dollars finished up about 25% each, and the Canadian Dollar not far behind. While the outlook for 2010 is slightly [ READ MORE ]
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