forex news

US Session – USDJPY extends gains after US industrial production rose

Posted on October 16, 2012 at 7:25 pm GMT

Risk sentiment was still high in the US session, kept alive by positive US data which showed industrial production rose more than forecast last month by 0.4 percent. Meanwhile, markets were already lifted by speculation that the Spanish government is closer to asking for financial aid, based on a media report that said Germany was open to a precautionary line of credit for Spain. If Spain requests aid, this would only serve to boost the euro and reduce concern the [..]

European Session – Euro gains on improved trade

Posted on October 16, 2012 at 12:45 pm GMT

Currency markets have been bullish in the European session as risk appetite remained strong. Euro was strong after a series of positive data helped lift the currency. Euro zone headline inflation released today was softer in September than expected, printing 2.6 percent versus 2.7 percent. The trade surplus unexpectedly grew sharply in August to 9.9 billion euros, thanks to exports rising by 3.7 percent. Further adding to risk appetite was a strong German confidence report. Meanwhile, there is speculation that [..]

Forex News – Euro zone exports increase while inflation falls

Posted on October 16, 2012 at 11:39 am GMT

A series of economic data from the euro zone were released today, helping the euro rise higher during the European trading session. A trade balance report for August showed that exports from the euro zone increased sharply in August, rising by 3.7 percent from July. This brings the seasonally adjusted trade surplus rose to 9.9 billion euros from a previous 7.2 billion euros, the largest since the euro was created in 1999. The rise in exports is good news for [..]

Forex News – UK inflation falls to near 3-year low

Posted on October 16, 2012 at 9:06 am GMT

UK inflation data were released today, showing the September CPI (Consumer price inflation) rate recorded its lowest level in almost three years. Much of it is due to falling gas and electricity prices in comparison to last year. According to data compiled by the UK Office for National Statistics, annual CPI printed a 2.2 percent rise last month as expected. This was the lowest increase since November 2009. This was lower than the August CPI which stood at 2.5 percent. [..]

Forex News – South African Rand gains as commodities rise after US data

Posted on October 16, 2012 at 8:30 am GMT

The South African Rand has managed to minimize losses made against the US dollar today, following a sharp decline on Monday when it fell by almost 3 percent. Since late Monday, the commodity-linked rand has been strengthening, due in large part to a boost in risk appetite following a better-than-forecast US retail sales report. Consequently commodity prices and risk assets were boosted. This gave a much needed lift to the South African currency especially after it was hurt by news [..]

Asian Session – Yen falls for fourth straight day against dollar

Posted on October 16, 2012 at 5:40 am GMT

The Asian session was quiet, with most currencies consolidating after a relatively risk-on market yesterday. Most pairs were ranging, with the exception of the dollar which extended its rally against the yen after being boosted by better than expected US retail sales yesterday. September sales rose by 1.1 percent, including upward revisions in July and August. Yen weakened for a fourth day to an almost one-month low against the dollar due to reduced demand for safe haven assets. USDJPY extended [..]

US Session – Dollar boosted by strong US Retail Sales

Posted on October 15, 2012 at 6:57 pm GMT

Dollar rose strongly against the yen following a better than expected US retail sales report. Data showed that September retail sales rose more than forecast by 1.1 percent and there was also an upward revision to spending in August. This helps raise optimism that the US economy will see a strong rebound in GDP growth for the third quarter. The news fuelled a rally in dollar/yen to mark a new one-week high. USDJPY jumped to 78.85 and then consolidated in [..]

Forex News – US retail sales rise more than expected in September

Posted on October 15, 2012 at 1:18 pm GMT

US retail sales data were released today showing a more than expected increase in the month of September. Sales rose 1.1 percent, beating forecasts of 0.7 percent. August figures were revised up to 1.2 percent. The sales report reflects broad-based gains in US household spending as Americans spent on everything from back-to-school supplies, electronics, appliances and autos. Auto sales, which can often have an outsize impact on the retail report, rose by 1.3 percent. The sector that saw the biggest [..]

European Session – Euro rallies to 1-week high versus yen

Posted on October 15, 2012 at 11:56 am GMT

The European session saw more upbeat sentiment with most risk currencies rebounding after a sell off earlier in the Asian session. Yields in EU periphery nations traded down while European equities rallied , helping to improve risk appetite. Euro saw a surprise jump against dollar and yen. Support was given after German Finance Minister Wolfgang Schaeuble said a Greek sovereign default “will not happen. Meanwhile reports stated that German Chancellor Angela Merkel said ‘It is our job to stimulate the [..]

Commodity News – Gold drops to 2-week low

Posted on October 15, 2012 at 8:51 am GMT

Gold prices extended their decline this Monday as the dollar rose. A stronger dollar usually weakens commodities that are priced in USD. Thus, dollar-denominated gold becomes more expensive for holders of other currencies. Dollar strengthened after a report on Friday showed US consumer confidence jumped more than expected in October. Meanwhile some positive news from China over the weekend raised speculation that China may not need additional stimulus. Trade data showed that exports grew more than estimated in September, increasing [..]

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