Dollar Fell Across the Board Towards the Fix – Partially Fixed



EUR/USD is approaching the 1.32 line, GBP/USD is the highest in a month, USD/CAD is close to parity and other currencies are also celebrating against the dollar.

The US posted more positive than negative figures today. CB Consumer confidence exceeded expectations by jumping to 68.1 points, significantly better than 61.4 that was expected. On the other hand, the Chicago PMI dropped to contraction territory, 49 points instead of 52.5 expected.

The Employment Cost Index rose by 0.3%, below expectations of 0.5% that was expected. The S&P / Case Shiller HPI showed a rise of 9.3% (year over year) in prices of homes, more than 9.1% that was expected. In Canada, GDP growth was better than expected in February: 0.3% instead of 0.2%, and this explains the descend of USD/CAD towards parity.

Update: EUR/USD is now retreating after reaching 1.3180, exactly at 15:00 GMT, the time of the fix. Expectations for a rate cut in the euro-zone have risen after inflation fell to a level of 1.2%. Also the unemployment rate continued rising, reaching a level of 12.1%. Spain’s unemployment rate stands at 27.2%.

Here are 4 scenarios for the ECB decision.

Christopher Vecchio says that a rate cut is good for the euro-zone, thus good for the euro. Follow Christopher on Twitter.




Is it end of month flows? Jamie Coleman says these aren’t.




About

Yohay Elam – Founder, Writer and Editor

I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me.

Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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