EUR/USD makes marginal new low

The EUR/USD stretched to a new low for the day after US pending home sales declined more than expected in August. EUR/USD indifferent to data EUR/USD extended losses, but only marginally, and hit a fresh daily low of 1.3481 before bouncing slightly. "Italian political woes, US GDP and employment readings triggering gains in stocks, nothing seems to be enough to take the EUR/USD far from the 1.3500 level, where the pair has been stuck for...

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USD/JPY on corrective move above 98.70; below EMA20

USD/JPY consolidates above the 98.70 zone but remains trading below the EMA20 at Tokyo’s opening. Yesterday’s recap Price action reveals a primary trend pointing up with a secondary trend pointing down and short-term parallel movement. At Tokyo’s opening, the pair starts with minimal losses after corporate service price (YoY) for August was released at 0.6% vs. expected 0.5% and past 0.4%. In the US, mixed manufacturing results were published...

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Gold continues to fall even as dollar loses ground

Gold continued to decline in the early part of Wednesday’s Asian session even as the U.S. dollar traded lower against most of its major rivals. On the Comex division of the New York Mercantile Exchange, gold futures for July delivery fell 0.18% to USD1,375.15 per troy ounce in Asian trading Wednesday after settling down 0.50% at USD1,377.15 a troy ounce in U.S. trading on Tuesday. Gold futures were likely to test support USD1,323.00 a troy ounce, the low from April 16, and resistance at USD1,444.15, last Tuesday's high. Although the Federal...

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The dollar fell against most of its peers in U.S. trading

The dollar fell against most of its peers in U.S. trading on Monday after Japan's Economy Minister warned further depreciation of the Japanese currency could hurt the economy.Fading hopes that Federal Reserve Chairman Ben Bernanke will hint at when easing tools will scale back also weakened the greenback.Stimulus measures, such as the Fed's monthly USD85 billion bond-buying program, weaken the greenback by flooding the economy full of liquidity to keep interest rates low and encourage investing and hiring.In U.S. trading on Monday, EUR/USD was...

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European Stocks Decline From 2008 High; Commerzbank Sinks

European stocks declined from the highest level in almost five years as bank and airline shares retreated, overshadowing better-than-forecast retail sales data in the U.S. Commerzbank AG sank 5.2 percent after Handelsblatt reported the lender will sell new shares this week. Standard Chartered Plc dropped to a four-month low as Carson Block, the short seller who runs Muddy Waters LLC, said he’s betting against the bank’s debt. Air France-KLM Group fell 4.6 percent. Lonmin Plc rallied 2.9 percent after the platinum producer returned to profit...

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Dollar Tone Improves

It took the break of the JPY100 level to trigger a broad based US dollar rally on Friday. This rally lifted the dollar's technical tone and suggests additional gains are likely. However, the out-sized gains ahead of the weekend warn of the risk of a consolidative phase first. After trying for nearly a month, the market finally pushed the dollar through the JPY100 level and the up move accelerated to almost JPY102 within 24 hours. The triangle...

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U.S stocks erases losses, gain on talk of Fed easing; Dow gains 0.14%

U.S. stocks erased earlier losses and ended Tuesday higher on hopes the Federal Reserve will announce on Wednesday it will make no changes to extraordinarily loose monetary policies, which push up stock prices as a side effect. At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.14%, the S&P 500 index rose 0.25%, while the Nasdaq Composite index rose 0.66%.The Fed will conclude a two-day monetary policy meeting on Wednesday and hopes the U.S. central bank will keep interest rates near zero and make no changes ...

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Dollar turns higher vs. yen after U.S. data

The dollar erased losses against the yen on Monday after better-than-expected U.S. data on personal spending and pending home sales. During U.S. morning trade, the dollar rose to session highs against the yen, with USD/JPY edging up 0.08% to 98.14, up from session lows of 97.36. The dollar found support after official data showed that U.S. consumer spending rose 0.2% in March, above expectations for a modest 0.1% increase. The data eased concerns over the outlook for the U.S. economic recovery after data on Friday showed that the U.S. economy...

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Forex Outlook – Action Packed Week Ahead

EUR – The Magnetic Attraction of 1.30 JPY – Will Short Yen turn into the Long Gold Trade? GBP – Ends Week at 2 Month High NZD – Shrugs Off Stronger New Zealand Trade Numbers CAD – Higher Gold and Oil Prices AUD– Heavy Chinese and Australian Data Calendar Next Week Forex Outlook – Action Packed Week Ahead Strap on your seatbelts, we have an action packed week in the forex market ahead. Key economic reports are expected from the U.S., Eurozone, China, U.K. and Australia. With so much economic data on the calendar, it will be difficult to tell which...

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EUR/USD trims gains after mixed U.S. economic reports

The euro trimmed gains against the U.S. dollar on Friday, pulling away from session highs, although the release of mixed U.S. economic reports weighed on demand for the greenback. EUR/USD pulled away from 1.3048, the session high, to hit 1.3015 during U.S. morning trade, still up 0.03%. The pair was likely to find support at 1.2956, the low of April 24 and resistance at 1.3094, Thursday's high. Final data showed that the University of Michigan's consumer sentiment index rose to 76.4 in April, from a reading of 72.3 the previous month,...

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U.S stocks rise on falling jobless claims; Dow gains 0.17%

U.S. stocks finished Wednesday higher after the U.S. government reported that jobless claims came in lower than expected last week.At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.17%, the S&P 500 index was up 0.40%, while the Nasdaq Composite index rose 0.62%.In the U.S. earlier, the Department of Labor reported that the number of people filing for initial jobless claims fell by 16,000 to 339,000, last week, outpacing market expectations for a drop of 4,000 to 351,000.Jobless claims for the preceding week...

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GBP/USD at session lows after euro zone data

The pound fell to session lows against the dollar on Tuesday after weak purchasing managers’ index from the euro zone and China underlined concerns over the outlook for global growth. GBP/USD hit 1.5197 during European morning trade, the pair’s lowest since April 4; the pair subsequently consolidated at 1.5217, shedding 0.47%. Cable is likely to find support at 1.5177, the low of April 1 and resistance at 1.5296, the session high. In the euro zone, data showed that Germany’s manufacturing PMI fell to 47.9 from 49.0 in March, well below...

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After China PMI disappoints; Nikkei down 0.28%

Most Asian stocks declined during Tuesday’s session after the HSBC flash reading of China’s April purchasing managers index indicated the world’s second-largest economy does not have the full head of steam that some market participants had hoped. In Asian trading Tuesday, Japan’s Nikkei 225 fell 0.28% as USD/JPY continued to encounter problems in its efforts to cross 100. Japanese stocks were the regional leaders, just has they have been for all of this year. Hong Kong’s Hang Seng dropped 0.90% while the Shanghai Composite slid 1.39%...

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USD/JPY dips as market view yen as attractively priced

The dollar fell against the yen on Monday after the Japanese currency found support after G20 policymakers voiced no opposition to the Bank of Japan's stimulus measures at a recent meeting. The yen fell earlier amid sentiments Japanese monetary authorities may increase stimulus measures, though the unit eventually found support after U.S. housing data disappointed earlier. In U.S. trading on Monday, USD/JPY was trading at 99.34, down 0.19%, up from a session low of 98.98 and off a high of 99.89. The pair was likely to find resistance...

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Asian stocks rise on bargain hunting; Nikkei up 0.61%

 Asian stocks rose in the week’s final trading day as traders did some bargain hunting following another down for U.S. equities Thursday. In Asian trading Friday, Japan’s Nikkei 225 rose 0.61% as USD/JPY climbed on hopes the Bank of Japan could deliver additional monetary stimulus when it meets next week. The dollar hit a four-year high of 99.93 against the yen last week after the BoJ pledged to double its asset purchase program over the next two years and extend the maturities of the bonds it purchases. Hong Kong’s Hang Seng climbed...

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European stocks remain higher despite growth concerns; Dax up 0.51%

European stocks remained higher on Thursday, supported by indications of a possible rate cut by the European Central Bank, although global growth concerns continued to weigh on market sentiment. During European afternoon trade, the EURO STOXX 50 jumped 0.90%, France’s CAC 40 rallied 0.90%, while Germany’s DAX 30 climbed 0.51%. ECB Governing Council member Jens Weidmann said Wednesday that the bank could cut interest rates if economic data indicated that it was warranted. Meanwhile, investors remained cautious after the International...

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Most Asian stocks fall on growth concerns; Nikkei down 0.40%

Most Asian stocks took cues from their U.S. counterparts Thursday and traded lower amid lingering concerns about global economic growth. In Asian trading Thursday, Japan’s Nikkei 225 fell 0.40% on a volatile day for USD/JPY. The pair traded slightly lower after Japan’s Ministry of Finance said the country’s exports rose 1.1% last month, easily topping the 0.4% increase forecast by economists. Japanese exports dropped 2.9% in February. For the fiscal year ending in March, Japan showed a trade deficit of JPY8.17 trillion. Still, the export...

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Dollar rallies more than 1% against euro

The dollar rallied against the euro on Wednesday after a senior European Central Bank official said the bank may adjust interest rates if new economic data warrants a rate cut. During U.S. morning trade, the dollar extended gains against the euro, with EUR/USD tumbling 1.02% to 1.3040. The euro weakened broadly after ECB Governing Council member Jens Weidmann said the bank could cut interest rates if economic and inflation data indicated that it was warranted. The comments came in an interview in the Wall Street Journal ahead of a weekend...

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Dollar rises vs. yen, euro

The dollar rose against the yen on Wednesday as better-than-forecast data eased concerns over the U.S. economic recovery and investor focus returned to the impact of the Bank of Japan aggressive easing program. During European morning trade, the dollar was higher against the yen, with USD/JPY climbing 0.63% to 98.15. Data on Tuesday showed that U.S. industrial production and housing starts rose at a faster-than-forecast pace in March, easing...

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Gold plunges to 2-year low on technical selling, China GDP weighs

Gold futures extended losses from the previous session to hit a two-year low on Monday, as the U.S. dollar strengthened after official data showed that Chinese first quarter economic growth came in below expectations. Gold’s losses accelerated sharply after prices broke below key support levels close to the USD1,477 and then the USD1,440-level, triggering a flurry of automatic sell orders amid bearish chart signals. Prices of the precious metal are down nearly 25% since hitting an all-time high of USD1,920.80 an ounce in September 2011,...

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Asian stocks falter after China GDP report; Nikkei down 1.21%

Asian stocks are trading broadly lower Monday after China’s first-quarter GDP report missed analysts’ estimates, stoking concerns that the recovery in the world’s second-largest economy is going slower than many market participants had hoped. In Asian trading Monday, Japan’s Nikkei 225 is down 1.21%. USD/JPY traded higher earlier in the session, but reversed course and is now lower, furthering the selling pressure on Japanese shares. Hong Kong’s Hang Seng slipped 1.32% while the Shanghai Composite fell 0.64% after China’s National...

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Dollar pares gains vs. rivals but remains supported

The U.S. dollar pared gains against the other major currencies on Friday, after news of a final deal on a bailout for Cyprus, although concerns over the strength of the economic recovery in the U.S. weighed on the greenback. During U.S. morning trade, the dollar was steady against the euro, with EUR/USD easing 0.06% to 1.3091. At a meeting in Dublin, euro zone finance ministers backed a EUR10 billion bailout for Cyprus and the European Commission said it would try to help the island's economy grow again with better use of EU structural...

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AUD/USD slides after Aussie employment data

The Australian dollar is trading lower against its U.S. rival in Thursday’s Asian session following news of a surprisingly weak Aussie jobs number. In Asian trading Thursday, AUD/USD is lower by 0.20% at 1.0524. The pair was likely to find support at 1.0448, the low of March 26 and resistance at 1.0549, the high of January 24. Official data showed Australia’s unemployment rate rose to 5.6% last month from 5.4%. Analysts expected the number to hold steady at 5.4%. The number of employed Australians fell by 36,100 following a gain of...

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Asian stocks mostly higher after China data; Nikkei up 0.73%

Most Asian stocks are trading higher at this hour following the release of China’s export and import data for March. The region’s equities are again following their U.S. counterparts higher a day after another strong performance for U.S. equities. In Asian trading Wednesday, Japan’s Nikkei 225 is higher by 0.73%, although USD/JPY is trading slightly lower. Some traders expect it is only a matter of days before the pair hits 100. On Tuesday, Japanese Prime Minister looked to assuage skittish investors about the potentially adverse effects...

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Dollar jumps following BoJ, ECB news

Dollar is broadly higher against nearly all of its major rivals during Friday’s Asian session following monetary policy meetings by the European Central Bank and the Bank of Japan, among others. In Asian trading Friday, EUR/USD is lower by 0.02% at 1.2934 after the European Central Bank opted to leave interest rates unchanged at its monetary policy meeting Thursday. ECB President Mario Draghi tried to lift markets’ spirits by saying the central bank is still considering an array of actions to help the euro zone economy, remarks that...

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EUR/USD lower as Draghi comments awaited

The euro was trading near four-month lows against the dollar on Thursday as concerns over the deteriorating outlook for the euro zone weighed ahead of the European Central Bank’s policy decision later in the session. EUR/USD hit 1.2784 during European morning trade, the pair’s lowest since Monday; the pair subsequently consolidated at 1.2796, shedding 0.40%. The pair was likely to find support at 1.2750, the low of March 27 and a four-month trough and resistance at 1.2852, the session high. The ECB was not expected to announce any changes...

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ADP Nonfarm Payrolls Increased

The dollar fell to session lows against the euro and the yen on Wednesday following the release of weaker-than-expected U.S. employment and service sector data. During U.S. morning trade, the dollar was trading close to session lows against the euro, with EUR/USD rising 0.25% to 1.2849. The dollar weakened broadly after data showed that the U.S. service sector expanded at the slowest pace in five months in March. The Institute of Supply Management said its non-manufacturing purchasing manager's index fell to 54.4 from a reading of 56.0...

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Nikkei Down 1.74%

Most Asian stocks are trading lower at this hour as traders await headlines from the conclusion of the Bank of Japan’s monetary policy meeting later today. In Asian trading Thursday, Japan’s Nikkei 225 is down 1.74% as traders fret that Governor Haruhiko Kuroda, presiding over his first meeting at the helm of the central bank, will not be able to deliver the goods in terms of additional monetary stimulus measures. USD/JPY is trading slightly lower on speculation that Kuroda is having difficulty building a consensus among BoJ members...

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USD/JPY higher as traders eye BoJ meeting

Dollar is trading higher against the Japanese yen Wednesday as traders are keeping close watch on the two-day Bank of Japan monetary policy that kicks off today. In Asian trading Wednesday, USD/JPY rose 0.21% to 93.62. The pair was likely to find support at 92.43, the low of March 1 and resistance at 94.10, the high of March 6. Today, BoJ starts its first meeting with Governor Haruhiko Kuroda at the helm. Given Kuroda’s vocal criticism of the previous BoJ regime and his recent pledge to do whatever it take to get Japan’s rate of inflation...

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The dollar edged higher against

The dollar was higher against the euro and the yen on Tuesday as investors looked ahead to policy meetings by the European Central Bank and the Bank of Japan later in the week. During U.S. morning trade, the dollar was higher against the euro, with EUR/USD slipping 0.10% to 1.2835. In the euro zone, a string of weak data fuelled doubts over the strength of the region’s recovery in the first quarter, while concerns over the potential implications of a bailout for Cyprus also weighed. Official data showed that the euro zone unemployment...

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Crude dips on market talk of rising inventories

Oil prices fell in U.S. trading on Tuesday amid market talk that weekly inventory data due for release on Wednesday will reveal rising stockpiles. On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded down 0.21% at USD96.87 a barrel on Tuesday, off from a session high of USD97.22 and up from an earlier session low of USD95.93. The U.S. Energy Information Administration will release weekly data on crude inventories on Wednesday, and expectations began to build a day earlier that the U.S. is awash in...

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European stocks higher ahead of E.Z. data; Dax up 0.48%

European stocks opened higher on Tuesday, as markets awaited the release of manufacutirng and unemployment data from the euro zone later in the day, while concerns over political deadlock in Italy persisted. During European morning trade, the EURO STOXX 50 added 0.25%, France’s CAC 40 advanced 0.39%, while Germany’s DAX 30 gained 0.48%. Italian President Giorgio Napolitano was due to meet with working committee advisors later Tuesday, in an attempt to break the political deadlock in the country. The so-called group of ten "wise men"...

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USD/JPY lower ahead of BoJ meeting

The Japanese yen is again trading higher against the U.S. dollar a day before Bank of Japan Governor Governor Haruhiko Kuroda presides over his first monetary policy meeting. In Asian trading Tuesday, USD/JPY is down 0.23% at 93.03. The pair was likely to find resistance at 94.38, the earlier high, and support at 92.92, the low from March 5. The yen rose against the greenback Monday after BoJ said that Tankan Manufacturing index rose to a seasonally adjusted -8 in the first quarter from -12 in the fourth quarter. Analysts expected...

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Asian stocks mostly higher following China PMI; Nikkei down 1.17%

Most Asian stocks are trading higher to start the week following the release of China’s March PMI data, which rose from February, but fell short of analysts’ estimates. In Asian trading Monday, Japan’s Nikkei 225 fell 1.17% after Bank of Japan said that Tankan Manufacturing index rose to a seasonally adjusted -8 in the first quarter from -12 in the fourth quarter. Analysts expected a first-quarter reading of -7. In another report, Bank of Japan said that Japan’s Tankan large non-manufacturing index rose to a seasonally adjusted 6 in...

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Pengeluaran Pemerintah Tekan PDB AS Kuartal IV

New York - Pada kuartal keempat 2012, ekonomi AS sangat lambat. Pengeluaran pemerintah yang rendah menjadi faktor utamanya. Produk Domestik Bruto (PDB) AS turun untuk pertama kalinya dalam tiga setengah tahun terakhir. Ekonomi AS hanya tumbuh 0,4% dari perkiraan ekonom yang akan tumbuh 1%. Penyebabnya dengan pengeluaran pemerintah yang mengalami penurunan drastis hingga 15% sehingga menekan aktivitas ekonomi. Pengeluaran pertahanan turun menjadi 22,2%. Hal ini sebagai penurunan terbesar sejak akhir Parang Vietnam tahun 1972. Penurunan...

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