Category: Forex News
EUR/USD May 1 Euro Edges Up as Chicago PMI Sinks
Euro dollar edged higher, as the euro has quietly climbed 250 pips since the first week in April, with small but steady steps upwards. At the same time, the markets are very concerned about the fiscal situation in the Euro-zone, and these worries have grown on the news that the Spain’s economy was in recession in Q1. Across
EUR/USD April 30 Euro Moves Higher After Weak US GDP Release
Euro dollar took advantage of weak US data, as the pair climbed to the mid-1.32 level. United States GDP for Q1 posted an increase of 2.2%, disappointing the markets which had predicted a 2.5% increase. Last week’s bright spot for the US economy was the UoM Consumer Sentiment release, which posted a slight increase and posted its highest reading in over a year.
US Economy Grows Slowly, Only 2.2%, Dollar Retreats
The first release of US GDP for Q1 2012 shows a growth rate of 2.2%. Estimates stood on an annual growth rate of 2.6%, after a strong rise of 3% in Q4 2011. This is a big disappointment. Also the secondary figures were lower than expected: Employment Cost Index rose by 0.4% (exp. +0.5) and
EUR/USD Apr. 27 – Falls to Lower Range on Spanish Downgrade, Before US GDP
Euro dollar bounced off downtrend resistance and continued to lower ground. S&P downgraded Spain by two notches, just before unemployment jumped once again. Other European indicators don’t look good either. In the US, figures were mixed, but leaning lower. The focus is on the first release of GDP for Q1, which is expected to remind us
US Pending Home Sales Leap by 4.1%, Offsetting Rise in Jobless Claims
After quite a lot of soft data, US pending home ales provide a nice surprise with a leap of 4.1%. A rise of 1.2% was expected after a drop of 0.5% initially reported for last month. Last month’s figure was revised to a rise of 0.4%. This makes the fresh leap even more impressive. This
EUR/USD April 26 Fed Fails to Impress Markets
Euro dollar continued to push upwards yesterday (April 25th). This followed a disappointing release for US Core Durable Goods, and the statement by the Federal Reserve in which it reiterated its commitment to maintain low interest rates, likely until 2014. There are two key releases in the US today, Unemployment Claims and Pending Home Sales. If this data falls below the market expectations, we could see the euro
Will Bernanke Bury QE3? Live Blog
Chairman of the Federal Reserve Ben Bernanke speaks about monetary policy and future prospects. Hints about QE3 are awaited, but the markets may be disappointed. The dollar is strengthening before the press conference. Will Bernanke change its direction? Earlier, the FOMC made no policy changes. The statement included minor changes in wording: inflation is now
FOMC Mentions Inflation Picked Up, No Change in Policy, No Hint for QE3
The Federal Open Market Committee (FOMC) left policy unchanged, as expected, yet the tone about inflation is somewhat different. Instead of treating inflation as “subdued”, the wording is that inflation “picked up”. The dollar is a bit stronger following the publication. EUR/USD is sliding in range, while USD/JPY is moving upwards. The moves aren’t big. EUR/USD
EUR/USD Right in the Middle of the Narrowing Channel Ahead of FOMC
Euro/dollar continues to its limited range trading and is now positioned in the middle of the narrowing channel (see graph). Weak US figures and worries about Europe haven’t moved it so far. Will Bernanke spark a stronger move? At 1.3185, EUR/USD is in the middle between downtrend resistance, now at around 1.33, and uptrend support,
US Durable Goods Orders Fall Sharply
US Durable Goods Orders dropped by no less than 4.2% and core orders by 1.1% Expectations stood on a fall of 1.5% in orders and a rise of 0.6% in core orders. Currencies aren’t shaking too much on these news, as a bigger event is scheduled later on: the FOMC meeting. These figures came after