Post Tagged with: "EUR/USD"
EUR/USD Falls as Trichet Signals Further Pause and Warns About Exchange Rate
ECB President Jean-Claude Trichet didn’t use the code words “strong vigilance”, but used “monitor very closely” instead. So, we expect another pause in rate hikes next month. This comes as the interest rate was left unchanged at 1.25%. EUR/USD now drops and is dropping below support. The falls are accelerated after Trichet quotes in full
Risk Aversive Trading Triggered As US Services Sector Slows Down
American ISM Non-Manufacturing PMI fell to 52.8 points, well below expectations of 57.9 points. This significant slowdown in the economy extends the losses of the greenback against the “safe haven” currencies, but stops the falls against other currencies.. EUR/USD is now retreating to 1.4920 after already hitting 1.4940. Also GBP/USD and AUD/USD are retreating. The initial
Weak ADP Non-Farm Payrolls Send EUR/USD Higher
According to ADP, the number of jobs gained in the US private sector rose by only 179K. Early expectations stood on a gain of 200K. EUR/USD is moving higher, and is testing levels above the resistance line. The past few month saw job gains of around 200K each time, and this significantly lower. EUR/USD now
More Strong Vigilance? ECB Preview
The ECB is expected to leave the interest rate unchanged after the hike last month. The big question is which code words will Jean-Claude Trichet use at the press conference. Here are three factor pushing for a hawkish stance, and three factors pushing for a dovish one. ECB Preview. After two years, the European Central
Greenback Supported by Lower Equities
Global markets are down ahead of the US session, a decline that should be part of some larger, deeper pull-back. We know that pull-backs are structured by at least three waves; even if it’s only corrective move, which means that we should see more weakness on stocks after small near-term rally, suggested by the S&P
ISM Manufacturing PMI Surprises – Dollar Isn’t Cheered
The manufacturing sector in the US is undergoing a smaller slowdown than expected. The ISM Manufacturing PMI dropped to 60.4 points. A drop to 59.9 was expected. But the dollar doesn’t rise. EUR/USD traded at around 1.4845 before the release. USD/JPY fell to 81.30 and GBP/USD was under 1.67 before the publication. All pairs are
EU Already Preparing Greek Restructuring
ECB members can deny and warn against the consequences of a Greek default, but the wheels are already in motion. There are signs that the European Union is working quietly but rapidly on a restructuring plan for the debt hit country. Will this week be a turning point for the Euro? Lars Feld, the senior
US GDP Falls Below Low Expectations – Dollar Recovery Stalls
The initial release of GDP for the first quarter of 2011 shows very weak growth of 1.8% at an annual rate. Early expectations stood on 1.9%. In addition, the weekly jobless claims figure made a leap to 429K, back to the high range after a few good months. The recovery of the dollar after Bernanke’s
With Which Currency Should You Trade the Fed?
The answer to the question above depends on the outcome of the event: In case of a dollar-bullish outcome, vulnerable currencies should be traded against – this will result in stronger moves. In case of a dollar bearish result, the stronger currencies would be a better bet. And what about an outcome that is in
EUR/USD: Trading the US GDP Publication
The first release of the GDP for the first quarter holds very low expectations. Is the US economy slowing down? On this background, there’s room for a surprise and a lot of price action in currencies. Here are the details and 5 scenarios for the action in EUR/USD. On Thursday, April 28th, at 12:30 GMT,