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The greenback is stronger at the close of North American trade with the Dow Jones FXCM Dollar Index(Ticker: USDOLLAR) advancing 0.37% on the session after moving nearly 99% of its daily average true range. The advance comes despite broad gains in the equity markets with socks making their highs early in the session before paring gains to [...]
The euro extended losses against the U.S. dollar on Wednesday, falling to a three-day low, following the release of weak employment and manufacturing data from the across the euro zone. EUR/USD hit 1.3166 during European morning trade, the pair’s lowest since April 27; the pair subsequently consolidated at 1.3173, shedding 0.48%. The pair was likely to [...]
The calm over the past several weeks warns of rougher waters ahead. We suspect that when things turn, the buck will emerge as the prime beneficiary… Markets still locked in quiet consolidation Euro still unsure of next moves; good two-way demand Solid US economic data keeps equity markets supported US Dollar to eventually emerge [...]
The Canadian dollar climbed today after a report showed that the US manufacturing sectors was expanding last month with faster pace than was anticipated by analysts, bolstering positive market sentiment. Institute for Supply Management reported that the US manufacturing Purchasing Managers’ Index was up from 53.4 in March to 54.8 in April. China’s PMI rose a little from 53.1 to 53.3. The positive news from China and the United States [...]
The March low (10564) has held for 2 days now. As the 4th wave of one less degree, 10564 is an important level. Still, more time is probably needed for the EURJPY to fully correct its advance from the January low. Corrections are difficult to trade due to their variability which is why from a trading [...]
The Canadian dollar jumped yesterday and so far has kept its gains today as stocks and commodities advanced on speculation that the Federal Reserve will maintain its interest rates record low for prolonged time. The Canadian dollar followed the Australian dollar that jumped on very good employment data, dragging commodities and commodity-related assets along. Signs that the Fed is going to maintain its stimulating monetary policy are also good for riskier [...]
The Australian dollar jumped today as employment in Australia demonstrated surprisingly huge growth that was about seven times above forecasts, causing speculation that the nation’s central bank will refrain from an interest rate cut. The Australian Bureau of Statistics reported that the seasonally adjusted number of employed persons rose by 44,000 in March from February. That’s compared to the much smaller figure of 6,400 predicted by analysts. Australian employment decreased by 15,400 [...]
Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9950.88 10013.79 9941.19 -0.48 107.87% The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 0.48 percent lower from the open after moving 108 percent of its average true range, and we may see the short-term correction gather pace as the greenback [...]
Economic crises signal that the current system isn’t working as expected and needs improvement. When it comes to monetary systems, questioning their fundamentals can lead to doubts about whether the preferred medium of exchange will continue to be preferred for long. The large-scale whirlwind of economic trouble around the globe has pushed some to rethink [...]
THE TAKEAWAY: [New home sales in U.S. unexpectedly falls in February, second month of decline] > [Housing market still struggling to stabilize] > [USDollar weakens] Sales of new single-family homes in the U.S. unexpectedly declined for the second straight month in February. According to estimates released jointly by the U.S. Consensus Bureau and the Department of [...]
