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US Session – USDJPY tumbles to 1-month low of 98.00 yen

Posted on July 26, 2013 at 8:15 pm GMT

Most currency pairs were relatively unchanged in the U.S. session, continuing trading in the ranges from the European session on a quiet Friday. Out of the major currencies, only the yen was the most actively traded currency today, with the most activity in the USDJPY pair. Dollar weakness dominated as investors began betting that he Fed will maintain its monthly bond-buying at $85 billion and will not taper stimulus that soon as was originally thought. U.S. economic data was not [..]

European Session – Euro hovers above $1.3250 as USD remains weak

Posted on July 26, 2013 at 11:31 am GMT

Currency markets were very slow today, as would be expected for a Friday and lack of major economic data releases. Dollar bulls are struggling to maintain momentum, as the dollar index is down 0.2 per cent today. Weighing on the greenback is a growing expectation that the Federal Reserve will continue with its bond buying to stimulate the economy, especially after some weak data on Thursday. Initial jobless claims and rose more than forecast, up by 7,000 last week to [..]

Asian Session – USDJPY falls to 2-week low

Posted on July 26, 2013 at 6:12 am GMT

The U.S. dollar remained weak during the Asian session on Friday as investors are being cautious ahead of key risk events next week, when U.S. jobs data will be released, as well as the Federal Reserve policy meeting will be held. The greenback began its slide on Thursday after U.S. jobless claims data showed an increase for last week. Initial claims for jobless benefits rose by 7,000 to 343,000 last week, more than the expected 340,000 claims. Employment data are [..]

US Session – Dollar tumbles to 1-month low versus euro after jobless data

Posted on July 25, 2013 at 8:43 pm GMT

The U.S. was the main focus of the North American trading session on Thursday, when some mixed economic data weakened it to a one month low against the euro. Lackluster U.S. data tend to dampen expectations that the dollar-weakening monetary stimulus programs such as the Fed’s monthly $85 billion bond-buying program will end soon. Data released today by the U.S. Labor Department showed jobless claims rose last week by 7,000 to 343,000 in the week ended July 20 from a [..]

Forex News – Dollar falls after US jobless claims rise

Posted on July 25, 2013 at 1:18 pm GMT

US data was mixed today, with durable goods orders beating expectations but jobless claims rising slightly. The figures were not enough to move dollar higher, and it was quickly sold off soon. Data from the U.S. Department of Labor showed that the number of Americans applying for initial unemployment benefits rose by 7,000 to 343,000 in the week ended July 20 from a revised 336,000 the prior period. The figure was a touch over analyst expectation of 340,000. The slight [..]

European Session – Pound ends rally after U.K. growth data

Posted on July 25, 2013 at 12:00 pm GMT

Despite Euro zone and U.K. data meeting expectations, this was not enough to lift market sentiment and euro and sterling only enjoyed brief gains. Markets are not convinced that growth is strong enough in Europe or U.K. and with China also showing signs of a slowdown, this is weighing down sentiment. Germany’s Ifo business sentiment index rose marginally higher to 106.2 from 106.1, an increase for a third straight month, which gave some optimism about the economic recovery in the [..]

Forex News – Sterling falls after UK GDP fails to beat expectations

Posted on July 25, 2013 at 9:10 am GMT

The British pound dropped against the dollar immediately after U.K. second quarter GDP data. Despite the number coming in as forecast, the markets would have preferred a higher number and so sold off the pound. The British economy grew by 0.6 percent in the months from April to June, following a 0.3 percent expansion in the first quarter of the year. Helping drive growth was a strengthening services sector, which makes up the majority of the U.K. economy. GBPUSD is [..]

Forex News – German IFO marginally higher

Posted on July 25, 2013 at 8:22 am GMT

The euro pushed higher against the dollar after the German IFO data on Thursday on signs Europe’s largest economy is recovering. A report from the IFO think tank said its business climate index increased from 105.9 in June to 106.2 in July. The index has increased for a third consecutive month and this is positive for investors because Germany is seen as Europe’s powerhouse. The IFO data is based on a monthly survey of some 7,000 firms in Germany, which [..]

Asian Session – Dollar slips across the board

Posted on July 25, 2013 at 6:12 am GMT

Asian markets on Thursday were very subdued and most currencies were rangebound. The dollar’s rally from yesterday’s higher-than-expected U.S. home sales numbers was short-lived. In early Asia investors bought the USD but it was soon sold off, with the USDJPY pair falling below the key 100 yen level, falling the most and keeping the dollar weak across the board. USDJPY opened in Asia at 100.23 and rose to 100.44 before declining to 99.86. EURJPY fell off a two-month high of [..]

US Session – Dollar surges after US home sales hit 5-year high

Posted on July 24, 2013 at 8:58 pm GMT

The U.S. dollar rose against major rivals Wednesday after data showed U.S. sales of new homes rose more than forecast last month to hit a five-year high. Additionally, flash manufacturing PMI in the U.S. beat expectations and rose above the key 50 line which indicates expansion. Market sentiment for the greenback was strong as the data today signalled a pickup in the U.S. manufacturing sector and new home sales. boosting hopes of a third-quarter pick-up in economic growth. The USD [..]

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