Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
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 »
Consumer confidence has fallen in Canada, partly on concerns about employment and recession and high prices, according to the latest data from the Conference Board of Canada. This month, the board’s Index of Consumer Confidence dropped 4.5 points from March, leaving negative attitudes at their highest level in more than two years. The index now
Canada Gets Hit With A Double Whammy Read More »
Markets and investors have been totally distracted this week by the upcoming FOMC meetings and the BoJ rate decision and political problems in Europe that we have not focused on hard core economic data. This week has a lot in store outside of those main events. Especially at the end of the week with US
What’s In Store For The US For The Rest Of The Week Read More »
At the close of last week the euro/pound held below the 0.8222 previous range bottom. The UK retail sales were reported strong but this was not enough to push sterling from further gains against the single currency. The EUR/GBP basically held a sideways trading pattern roughly between 0.8165 and 0.8205. The pair was changing hands
The EUR/GBP Cools Down Read More »
On Thursday, EUR/USD continued to hover within the sideways trading pattern that is in place since earlier this week. The Spanish bond auction went rather well, but failed to change sentiment for the better. EUR/USD dropped temporary below the 1.31 mark, but the key 1.3000/1.2974 support stayed out of reach. Yesterday, the focus of global
The EUR/USD Wanders Rudderless Read More »
Today’s eco calendar in Europe is near empty, but the US one is more interesting. Initial claims are expected to have dropped following last week’s surprise sharp rise. The week under review is the post-Easter week, which might again lead to distorted results. Tentatively, we put the risks on the upside of expectations, while the
EUR/GBP Moves From Spicy To Hot Read More »
