Market Outlook from Tradingforex.com
Mon, 08 Oct 2012 09:20:00 EDT
The dollar rose against most major currencies on early Monday after investors spent the weekend digesting a stronger-than-expected U.S. September jobs report, concluding the numbers did not indicate significant recovery was taking shape in the U.S. economy. The U.S. unemployment rate fell to 7.8% percent in September from 8.1% in August, the Bureau of Labour Statistics reported Friday. Employers added a net 114,000 jobs in September, while households reported that total employment rose by 873,000 in September following three months of little change. Meanwhile, the creation of just 114,000 new nonfarm payrolls reflected no major improvement from previous monthly jobs reports, investors concluded, which prompted many to take up long dollar positions early in Asian trading. Elsewhere, demand for safe-haven currencies like the dollar rose ahead of the release of output data out of Germany, Europe's largest economy. Germany will release month-on-month industrial output figures later in the day and until the numbers hit the wire, investors opted for safe-haven currencies such as the yen and the dollar. A group of eurozone finance ministers are due to meet on Monday in Brussels, and investors sold the euro to await any policy announcements that may come from the talks.
Euro under pressure due to uncertainty over Spain bailout
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The euro was on the back foot on Tuesday as uncertainty about Spain persisted after euro zone ministers said the country did not need a bailout yet, dashing investors' hopes they might inch closer to a resolution of the debt problems of the region's fourth largest economy. Caution on company earnings also kept risk assets, including the euro, in check, as investors weighed the impact of the global slowdown on corporate earnings due out this week.The euro bought $1.2971 in early Asian trade, s lightly higher than l ate U.S. levels but s till about a full cent be low a two-week high of $1.3072 hit on Friday
Market Outlook 31 Dec 2012
EUR/USD The dollar rose 0.1 percent to 1.3201 dollars against the euro. The euro has risen 1.8 percent versus the dollar, a rise for the first time in two years, after the European Central Bank presented a program in September to aid the currency’s fall.
USD/JPY The yen declined 0.2 percent to 86.13 per dollar as of 1:32 p.m Singapore time, the continuous decline has brought heat on the country from other nations , Finance Minister Taro Aso responded that no one has the right to lecture the country, and added that the US should have a stronger dollar. Since 2011 the currency has dropped more than 10 percent against the dollar.
AUD/USD The Australian dollar climbed higher than most of the other currencies, and that was due to the manufacturing growth in China, which is its biggest trading partner. It gained 0.1 percent to 1.0381 dollars and is expected to have an overall 1.7 increase this year.
GBP/USD After a couple of changes throughout the past week, where the British pound rose against the dollar, after the pair hit 1.6065 on Thursday which was its lowest since December 10, the pair has climbed today and added 38 pips at 1.6138.
Market outlook 2 January 2013
Currencies USD/JPY The Yen has dropped even further against the dollar, and has gone down to 87.33 per dollar, its lowest since July 29, 2010. As of 6:38 am London time it traded at 87.27. These changes took place after the legislation to avert the fiscal cliff was passed. Currency strategist in Sydney Australia& New Zealand Banking Group Ltd. Andrew Salter stated that the Yen will probably remain weak for the time being, adding “if you look out a month or two, it really depends upon what the government is able to achieve as far as the central bank is concerned”
EUR/USD The dollar lost 0.5 percent and fell to 1.3272 dollars against the euro. Its weakening has taken affect as the legislation for averting the fiscal cliff was passed by the U.S. today.
AUD/USD The U.S. dollar slightly gains while the Aussie loses, dropping 0.7 percent from its lowest level in over four weeks. As of 11:08 am Sydney time it traded at 1.0399 dollars. It is predicted that the Australian dollar will rise to 1.07 dollars throughout the next six months, and to 1.01 by the
Market outlook 2 January 2013
Currencies EUR/USD After a high ride of 1.33 a dollar, the euro fell 0.1 percent to 1.3186 dollars. The dollar has rose 0.3 percent reaching 1.3148 per euro. Over the past year, 2012, the euro has had an overall decline of 1.1 percent, while the dollar fell 3.3 percent.
USD/JPY Then yen continues to weaken, falling 0.7 percent to 87.34 per dollar, and has reached its lowest level since 29 July 2010 at 87.35. Today however the dollar has also weakened against other major currencies. The Yen’s 14 day relative strength index is at 17 versus the dollar.
AUD/USD After being one of the strongest currencies, since the passing of the legislation in the US to increase taxes and cut budgets on Wednesday the Australian dollar has suffered some losses and has fallen lower than the USD. The pair fell 0.18 percent to 1.0486 dollars.
GBP/USD The British pound has been gaining over the last month of last year, and has now risen to its highest level against the dollar in 16 months at 1.6381 dollars, before going down to 1.6252 dollars.
Market News 4 Jan 2013
CurrencyEUR/USD For the second day the dollar stayed higher than the euro, with a 0.1 percent gain and traded at 1.3040 per euro at 5 pm New York time, making it its strongest level in three weeks. The dollar is expected to advance 1.19 dollars per euro by the end of the year.
USD/JPY The yen fell against most other major currencies including the U.S. dollar, and that marks its longest weekly loss since 24 whole years, with a 2.1 percent loss against the U.S. dollar. It fell to 87.83 per dollar, and at 7 am London time it fell further to 87.74 per dollar. The yen’s 14 day relative strength index fell to 16.6 against the dollar.
AUD/USD China’s decline has had a big impact on the Australian dollar as the country is Australia’s biggest trade partner. The Aussie fell to 1.0441 at 4:25 pm Sydney time, losing 0.2 percent from yesterday. Expectations are that the currency will not have a noticeable improvement until china starts to improve pulling it along.
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Euro Firm ahead ofECB Meeting
Main focustoday will be on ECB meeting. The ECB would very likely leave its policy rateunchanged at the October meeting. In fact, after the announcement of the OMT inSeptember and release of the meeting statement, we expect policymakers wouldleave interest rates unchanged for the rest of the year unless economic datasuggests that more downside risks would be seen on economic growth andinflation.