Archive for the ‘News’
Weekly Gains of Pound on Favorable Economic Data & EU Problems
The Great Britain pound surged this week against the euro as the debt problems in the Eurozone attracted the investors to the perceived safety of Britain’s currency. The sterling also gained versus other currencies, including the US dollar and the Japanese yen. The favorable macroeconomic reports, including the reports about the retail sales, the manufacturing production and the leading indicators, supported the sterling versus other currencies. Still, some negative reports were also released, including the reports about [...]
Aussie Rises on Employment Growth & Interest Rates Outlook
The Australian dollar rose today as the good reports this week signaled about the increasing pace of the economic recovery and on the outlook for the interest rates increases. The attractiveness of the Australian currency was boosted by the good employment reports. The Australia and New Zealand Banking Group reported that the job advertisements on the internet and in newspapers increased by 2.9% in November, signaling about the rising employment. This was confirmed by the report of the Australian Bureau of Statistics, which showed the growth of the employment [...]
USD/JPY attempting recovery from 82.50 low
FXstreet.com (Barcelona) – Dollar retreat from 8440 high on Thursday has extended to a fresh 3-week low at 82.50 on the back of disappointing US employment data, and the pair is trying to pick up on early US session, reaching 83.00 area so far. The pair is struggling at 83.00 at the moment, with next [...]
BULLION MORNING – Gold rangy ahead of key US non-farms data, solid euro supports
London 03/12/2010 – Gold traded in a tight range in Friday morning business, buoyed by a weaker dollar and continued rumblings around the issue of eurozone debt, but corralled by a wait-and-see attitude from markets to US employment data due later today. Spot gold was last at $1,390/1,390.70, a $3.20 rise, but the yellow metal [...]
LME OPEN – Metals flat ahead of monthly payrolls report
London 03/12/2010 – Base metals drifted sideways on early Friday morning as the focus shifted from the euro zone debt turmoil to the US payrolls data later this afternoon. “A positive surprise from US non-farm payrolls today could help metals to close the week on a strong footing,” analysts from Commerzbank said on Friday. The [...]
US GOLD – Comex gold wobbles sideways ahead of US jobs data
New York 02/12/2010 – Gold on the Comex division of the New York Mercantile Exchange approached $1,400 an ounce Thursday but then hit some technical headwinds and ultimately eased from morning highs as traders moved liquidity into riskier assets like equities. Gold futures for February delivery were recently trading up $2.60 at $1,390.90 an ounce. [...]
Dollar Falls This Week as Concerns for US Economy Return
The gains of the US dollar at the beginning of this week were outweighed by the losses in the second half as the poor employment data raised the concerns for the US economy and damped the demand for the US currency. At the start of the week the dollar was still supported by the demand for the safe haven, caused by the troubles in Europe and the Korean conflict. Later the greenback was weakened as the demand for the safety was diminished by the hopes that the meeting of the European Central Bank’s policy makers would provide some [...]
Canadian Dollar Weakened By Poor US & Canadian Employment
The Canadian dollar fell today as the employment reports from Canada and the US, the largest Canada’s trading partner, were worse than predicted, decreasing demand for the Canadian currency. The Canadian employment grew by 15,000 in November, following the 3,000 growth in the month before. The market participants expected the increase by 20,200 jobs. The unemployment rate decreased, though, from 7.9 percent to 7.6 percent. The Canadian currency was more influenced, perhaps, by the US nonfarm payrolls, [...]
Dollar Falls on Poor Employment Reports
The US dollar dropped today after the report showed that the unemployment rate in the US was at the highest level in 26 years as the US employers added only about one-third as many jobs as was expected, driving the investors away from the dollar to other currencies. The US nonfarm payrolls grew by 39,000 work places in November. That’s significantly less than the growth by 172,000 in the October and the forecast reading of 143,000. The unemployment rate grew to 9.8 [...]
Euro Rises on German Grow. Can Rally Be Sustained?
The euro extended its rally against greenback for the third day today as the Bundesbank raised its forecast for Germany’s economic growth. The rally may be short-lived, though, as other countries of the European Union aren’t likely to repeat the German economic growth. Most analysts aren’t convinced that the European troubles would be solved in the near future as the European official just saying that everything will be okay instead providing the real [...]