Category: Forex News
French Auction Cannot Stop Drop – EUR/USD at 16 Month Low
France had an OK bond auction: it raised the amount of money it wanted, bid to cover ratios were OK and yields were very similar to ones seen in previous auctions. However, this didn’t stop EUR/USD extends its drops and is at levels last seen at the beginning of September 2010. France sold bonds maturing
British Services Sector Moves Up – Pound Unexcited
British Services PMI exceeded expectations and rose to 54 points, indicating stronger growth. Will Britain escape a recession? GBP/USD is still under the weight of European troubles and doesn’t really move up on this good figure. Earlier in the week, the British manufacturing sector managed to slow its contraction and rise nicely. Also Britain’s construction
ISM Manufacturing PMI Provides Hope for NFP
The US ISM Manufacturing PMI scored 53.9 points. The employment component rose from 51.8 to 55.1 points. This indicates faster growth and is a positive sign for the Non-Farm Payrolls. Early expectations stood on a rise to 53.3 points from 52.7 points initially reported for November. The New Orders component ticked up to 57.6 points,
British Manufacturing Recovers Nicely – Still in Contraction
The British manufacturing sector has improved nicely. The purchasing managers’ index jumped to 49.6 points, much better than a drop to 47.4 that was expected. This is still in contraction zone: under 50 points, for the third month in a row. GBP/USD shrugs it off and remains around 1.5570, where it traded before the publication.
EUR/USD at 15 Month Low Following Italian Auction
In the final days of 2011, EUR/USD dips into a new year to date low, reaching the lowest levels since September 2010. The move came after another worrying Italian bond auction. Italy managed to raise 7 billion euros, and some of the yields were better than the last time, but it’s clear that this isn’t
Italian Debt Is Unsustainable – EUR/USD Extends Drops
Italy’s bond auction is very worrying, that the ECB jumped in and bought Italian bonds immeidately after the auction. While there are some improvements from previous long term auctions, the bottom line is that the burden of debt continues growing, while the economy is heading in the other direction. This is unsustainable. EUR/USD drops and
EUR/USD Dives to Fresh 11 Month Low – 6 Possible Reasons
After very tight range trading, the hammer fell on EUR/USD: the pair made a sharp drop and eventually lost the 1.2945 line which was the previous trough seen in mid December. The pair is now again in levels last seen in mid January. Update: Now 6 reasons are cited for this fall. Rumors of a
Spain’s Muted Christmas Shopping
The downturn in the Spanish economy is evident in rising unemployment, that reached 22.8%. Some thought that the euro-zone’s fourth largest economy will enjoy some mercy during the festive Christmas shopping season. Yet there are many signs that point to the other direction. People celebrating on the streets, but not in shops: The streets of cities
EUR/USD Dec. 26 – Ticking Up on Extremely Low Volume
Euro dollar is ticking higher along the pivotal line in the day after Christmas. Most financial centers are closed, but movements are still seen on the charts. No events are expected today. Here’s an update on technicals, fundamentals and what’s going on in the markets. EUR/USD Technicals Asian session: The pair moved up and reached the
Canadian Economy Stalls, US Figures Mixed
The Canadian economy didn’t grow, falling short of expectations for a small monthly growth rate of 0.1%. This is the figure for October, the first month of Q4. The publication casts a shadow on US growth as well, as these economies are well connected. USD/CAD is ticking up after this release, bouncing off the lows