News / Page 395

Forex News – US housing starts below forecast in August

Posted on September 18, 2013 at 1:32 pm GMT

US housing starts rose less-than-expected last month, official data showed on Wednesday. According to data from the Census Bureau, the number of housing starts rose 0.9 percent in August to 891,000 from 883,000 in the preceding month whose figure was revised down from 896,000. Expectations were for the number of housing starts to rise to 917,000. The housing starts data here is an Annualized number of new residential buildings that began construction during the previous month. This data is slightly [..]

European Session – Sterling outperforms after BOE but Fed is main focus

Posted on September 18, 2013 at 11:53 am GMT

Fed tapering discussion is dominating markets today as investors brace for the Fed decision later today on monetary policy and particularly on stimulus measures. There is alot of uncertainty surrounding this issue of when and by how much the Fed will taper. Markets widely expect a reduction of 10 billion in asset purchases from the current $85 billion a month, mostly through Treasuries. But is the US economy ready for any withdrawal of stimulus? Especially after recent disappointing US nonfarm [..]

Forex News – Sterling surged to 8-month high after BoE minutes

Posted on September 18, 2013 at 9:15 am GMT

Sterling jumped to an 8-month high against the dollar on Wednesday after the release of the Bank of England policy meeting minutes. The central bank’s policy makers from the Monetary Policy Committee (MPC) signalled that they see no need for more stimulus amid growth in the UK economy. The minutes from the September 3-4 policy meeting showed that all MPC members voted unanimously to keep policy unchanged this month as recent strong UK economic data pointed to an improving economic [..]

Asian Session – Calm session ahead of Fed policy statement

Posted on September 18, 2013 at 6:03 am GMT

The highly anticipated day has finally arrived and the Federal Reserve policy statement is due later in the day. As a result, the Asian session was calm and uneventful as investors prefer to wait on the sidelines ahead of this key risk event. There are expectations for slight tapering of a $10 billion reduction in the Fed’s current $85 billion a month in asset purchases. In such a case it is expected that the dollar will rise on the news [..]

US Session – Dollar drifts as Fed meeting looms

Posted on September 17, 2013 at 7:49 pm GMT

We are less than 24 hours away from what could be said to be the most important event of the year. The Federal Reserve policy meeting concludes on Wednesday and investors are waiting to see what the Fed statement will be. Will it taper and by how much? Markets are currently pricing in that the Federal Open Market Committee (FOMC) will probably lower its $85 billion of monthly bond purchases by $10 billion. USDJPY closed the gap that opened up [..]

Forex News – US inflation slows down, could affect Fed decision to taper

Posted on September 17, 2013 at 1:13 pm GMT

Inflation in the United States rose less than forecast in August, a sign it will take time for inflation to reach the Fed’s target inflation rate of 2 percent and could affect its decision to start tapering stimulus. The Federal Reserve Open market Committee concludes a two day meeting on Wednesday. Normally the FOMC would remove not policy accommodation in an environment where inflation is below target and is in danger of causing disinflation. A decision by the Federal Reserve [..]

European Session – Euro above $1.33 for a second day

Posted on September 17, 2013 at 11:45 am GMT

The euro advanced higher against the dollar on Tuesday after German investor sentiment topped forecast after the ZEW index hit its highest since April 2010. The data shows that Europe’s largest economy and engine of growth is improving. EURUSD rose after the data at 11am Frankfurt time from $ 1.3350 to a session high of $1.336, and is up 0.2 percent from the session open of $1.3342. EURGBP rose to 84.08 pence from where it was before the data at [..]

Forex News – German ZEW tops expectations and lifts euro

Posted on September 17, 2013 at 9:55 am GMT

The euro was buoyed by news that Euro zone investor sentiment on the region’s economy rose to 58.6 in august from 44.0 and beating forecasts of 47.2. Also German investor sentiment is at its highest level since Apr 2010. The closely watched ZEW index of economic sentiment rose more than expected in September to 49.6 (46.0 was forecast) and up from 42.0 in August. “The financial market experts hold the view that the German economy is still gaining momentum,” said [..]

Forex News – Sterling weakens after UK inflation data lower than forecast

Posted on September 17, 2013 at 9:16 am GMT

UK inflation data were released today with the headline number slightly lower than forecast, causing the sterling to fall. As the risk of accelerating inflation is absent, the Bank of England will have no problem leaving interest rates at record lows. Lower rates tend to weigh on the currency. August CPI (consumer price inflation) rose at 0.4 percent on a monthly basis, which was lower than the 0.5 percent that was expected and is the lowest monthly increase for August [..]

Asian Session – Dollar gains ahead of FOMC

Posted on September 17, 2013 at 6:08 am GMT

Markets are jittery ahead of key risk on Wednesday when the Federal Open Market Committee (FOMC) meeting and press conference are held. The news released late on Sunday that Larry Summers had dropped out of the Fed chairmanship race triggered a wave of U.S. dollar selling against the majors during the Monday Asian and European morning session which was completely reversed by mid-afternoon in North America. Investors will closely watch to see if there will be any scaling back of [..]

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