Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
Yesterday, there was very little to tell on the price action in the EUR/GBP cross rate with little eco data coming off of a holiday on Monday. The pair remained in a narrow range roughly between 0.8050/75. The below consensus BRC shop price report and RICS house price balance were ignored. Uncertainty on the situation […]
The GBP vs. the USD and the EUR Read More »
The Labour Department said Friday that the economy added just 115,000 jobs in April. Economists had expected a gain of 163,000. The unemployment rate fell to 8.1 percent in April from 8.2 percent in March, but mostly because more people gave up looking for work. Traders tend to buy the dollar and the yen, two
Investors Find Silver Lining in Negative Jobs Data Read More »
The fact that the European Central Bank didn”t change its key interest rates or announce any new policy initiatives yesterday came as little surprise to financial markets. Neither were there any dramatic changes in the tone of comments made by ECB President Mario Draghi at the monthly press conference that followed today’s Council meeting of
Subtle Shifts In ECB Thinking Read More »
Just a short while ago the view was that the May ECB meeting would be a non-event. The meeting is scheduled to take place tomorrow in Barcelona. While we don’t expect the ECB to take new measures, economic and political developments have put the focus on the ECB once again. Although, it seems that they
What Will The ECB Do At Tomorrow’s Meeting? Read More »
The economic calendar is very busy today, after returning from a variety of holidays in Asia and Europe, markets are eager to get back to work. In Europe, investors look out for the final release of the April PMI. The advance reading was quite disappointing and even a slight upward revision will not be able
The EUR, USD, GBP And JPY Read More »
The euro was under moderate pressure as markets tried to assess the impact from the S&P downgrade of Spain. The rise in Spain’s unemployment rate was also of no help. The EUR/USD cross rate was changing hands in the 1.3160 area around the open of the European markets. However, the reaction, on the currency market
The Happy Trio EUR USD And GDP Read More »
After the main event of the week, the FOMC meeting on Wednesday, gold futures ended down only $1.5 or -0.09 percent. Mid day gold fell $15 to $1,625 after the FOMC policy statement was released, and then swiftly rebounded to $1,650 and settled at $1,642.3. Gold futures rose $18 to 1,660.5 on Thursday but fell
Gold Bounces On The FOMC Read More »
The number of Americans who applied for jobless benefits remained elevated for the third straight week, suggesting some weakening in the U.S. labor market. Jobless claims fell by 1,000 to a seasonally adjusted 388,000 in the week ended April 21, the U.S. Labor Department said Thursday. Claims from two weeks ago were revised up to
You Can't Have An Economic Recovery Without Jobs Read More »
The UK economy is back in recession, its first double-dip recession since the 1970s, following a surprise 0.2% drop in GDP in the first quarter of 2012. Analysts had anticipated modest growth of 0.1-0.2%. The pound dropped following the news as markets expect that the Bank of England will be forced to resume its quantitative
UK Does Double Dipping Read More »
The main event this week—the Federal Open Market Committee meeting/Ben Bernanke press conference—concluded today. Markets and investors, news casters and financial analysts had built this into the meeting of all meeting, market expectation were high, markets for weeks have been searching for and positioning themselves for more monetary easing. They were sure that the Fed
The Main Event This Week Was A Dud Read More »
