Rebound of loonie and Swiss franc

March 19th, 2010 by Benton Pena View Comments »

Despite being limited macro data scheduled for today, the major currency pairs we offer interesting tours, highlighting the surge of the loonie to the greenback, while the franc continues to push against the greenback., Trading at this time when lowest since October 2009. Among other things, uncertainties surrounding Greece’s fiscal position remains a key factor in the weakening of the euro. According to the comments of some members of the European Commission, it is difficult for Greece to rectify its economy, after recording a deficit of close to 12.7% of their Gross Domestic Product (GDP) without the assistance of the International Monetary Fund (IMF). However, the Hellenic prime minister, George Papandreou, has indicated that the current problems in the country should be solved without foreign aid, but stressed that he would like more support from their European neighbors.

Among other things, the motto of the old continent is still losing positions on the major majors, then published the results of the producer price index for the Eurozone. According to the Statistical Office of Germany, that industry has registered a slower contraction rate in the year, while the monthly weakened in February. In Asia, the Index of Industrial Activity in Japan has exceeded expectations, while in New Zealand credit card spending rose to 1.1% annualized, reflecting the recovery in domestic consumption. In Canada, we learned that the Consumer Price Index (CPI) has exceeded expectations, as it fell by 1.6% in the annualized rate to 0.7% in the month. As a result, the loonie can see 75 pips so far.
For the next few hours, the eyes will be on retail sales in Canada. » Read more: Rebound of loonie and Swiss franc

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Dollar Expectant of US CPI

March 18th, 2010 by Benton Pena View Comments »

After the president of the U.S. Federal Reserve (FED) Ben Bernanke will defend to the Central Bank as the agency most qualified to be the supervisor of the U.S. financial system, the dollar has advanced against its major positions counterparts. However, the euro also weakened by fears driven environment of severe fiscal crisis experienced by the euro zone and in which, if there is no quick solution could increase economic instability in the old continent. Earlier today, Prime Minister of Greece, George Papandreou, has indicated it will not appeal for economic aid from the International Monetary Fund (IMF) and stated that awaits more support from the European Commission.

Among other things, today we have learned that the Swiss industrial production has exceeded expectations, although still in negative numbers, while the trade balance of the Euro zone has been below the estimate. For the next few hours, the focus will be on the Consumer Price Index, initial requests for unemployment, leading indicators and the Fed Manufacturing Survey of Philadelphia in the United States. » Read more: Dollar Expectant of US CPI

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Tension between US and China benefit the dollar

March 15th, 2010 by Benton Pena View Comments »

On the first day of the week, we see as the greenback advanced to senior positions majors after increasing political tensions between the U.S. and China. Recall that a few days ago, Prime Minister Wen Jiabao defended the valuation of the Yuan and stressed that the stability of its currency is a key factor contributing to the recovery of the global economy. Across the ocean, the U.S. president, Barack Obama, has expressed discomfort over the valuation of currency, informing that the renminbi rises weaken the competitiveness of the dollar in international trade, benefiting the export sector of the giant Asia. However, the greenback’s gains were tempered by concerns about the U.S. rating, after learning about an article in the newspaper “Financial Times” that Moody’s would be to announce a cut in its credit rating unless consolidate public finances more than expected by the Obama administration.

Among other things, gave sterling positions against the euro, the dollar and yen on prospects of a weakening of Gross Domestic Product (GDP) and after increasing fiscal risks in the UK. » Read more: Tension between US and China benefit the dollar

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New monthly maximum of Euro/Dollar

March 12th, 2010 by Benton Pena View Comments »

At the workshop today, we see as the dollar weakens against major currencies, after decreasing risk aversion in the currency market as a result of good macroeconomic data for China. Recall that in yesterday, the Asian giant’s inflation recorded the maximum 11 months, reflecting the strong growth experienced in recent months, while in the evening session, we learned that housing prices in China have grown at fastest pace in 20 months. We have also strengthened the euro after the collapse of conversation around the financial reform in the United States and knew that industrial production in the Euro Zone were located in positive territory in January.

Among other things, the yen appreciates against the dollar, disclosed after the Bank of Japan (BoJ) could increase the amount of money on incentive plans, because the current has not emerged the desired effect on the economy. For his part, Prime Minister of Japan, Yukio Hatoyama, said today that the country needs to take measures against the yen’s recent strength which, in its view, does not reflect the situation of Japanese economic and industrial weakness, leaving the door open for perform the BoJ intervention if Japan’s currency continues to appreciate. » Read more: New monthly maximum of Euro/Dollar

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Dollar expect U.S. jobs data

March 11th, 2010 by Benton Pena View Comments »

Today’s meeting began with a battery loaded macro data in Europe and Asia, highlighting the publication of the Consumer Price Index (CPI) in China which reported in February, its highest in 16 months, renewing the prospects for monetary tightening overheating and curb future economic bubble in China. However, possible actions to take are taken as positive by the operators, then increase the upward pressure to appreciate the yuan. According to the Bureau of Statistics, the CPI rose to 2.7% in February from 1.5% in January year measurement, easily beating forecasts for a rise of 2.3%.

Among other things, we have known that Japan also revised down the growth of its Gross Domestic Product (GDP) between October and December to 3.8% year-paced, eight tenths less than originally announced, which has not slowed their expectations for economic recovery. Significantly, in 2009, during the global crisis, the Japanese suffered a GDP drop of 5.2% over the previous year, according to the Ministry of Finance, which represents a drop two tenths higher than initially reported. For its part, the government stressed that Japan’s recovery pillars are stable, with exports rose 5% in the last quarter of 2009 and domestic demand rose 0.7% thanks to the incentive plans made.

» Read more: Dollar expect U.S. jobs data

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Uncertainty in Europe weakens Euro

March 9th, 2010 by Benton Pena View Comments »

The severe economic crisis in Greece and the lack of instruments in the European Union to come to the rescue of one of its members to weaken the currency of the old continent, adding the ads of Fitch, to indicate that you could lose your rating credit if it cuts its fiscal deficit. Meanwhile, the U.S. firm reported that Spain’s economic risk is very high, prompting a spike in risk aversion. For its part, the European Commission announced it was ready to propose the creation of a European Monetary Fund, an organization similar to the IMF, to deal with future debt crises in the Euro Zone and avoid another fiscal crisis like the economy registered in helena.

Furthermore, the yen advanced against the greenback positions, after major Japanese firms engage in profit-taking after the close of the fiscal year. An estimated total of benefits varies by 16,000 million. With respect to the pound sterling, the British currency lost strength after the results in the housing sector. So far, we have learned that the Consumer Price Index in Switzerland came in below forecasts, as it fell by 0.9% on-year rate, while the monthly has returned to positive territory. It has been reported the results of the UK trade balance. According to the National Bureau of Statistics, imports have increased, recording a deficit of 8,000 million pounds in January. » Read more: Uncertainty in Europe weakens Euro

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The loonie benefits from the surge in oil

March 8th, 2010 by Benton Pena View Comments »

On the first day of the week, the foreign exchange market continued digesting the surprising results of the unemployment rate in America. Remember that last Friday, the Labor Department reported that the rate stood at 9.7% in February, while nonfarm payroll employment (payrolls) have been considerably worse, placing 36,000 posts work destroyed in the previous month. However, the news has injected optimism into the market, after increasing the prospects for American country’s recovery.

For the day today, no relevant data to be known in America, the eyes will be on the Canadian housing starts. So far, we have learned that the Swiss unemployment rate stood at 4.4%, a cut of 0.1% over the January figure, while the adjusted retail sales to Switzerland have exceeded expectations, to settle at 4.4% in January, when it was estimated that the figure would be 2.4%. Finally, in Germany, the January industrial production has experienced a significant recovery in the annualized rate, registering a surge of 2.2% in the first month of 2010, when in December, that industry experienced a contraction of 7 1%.
Moreover, the market is waiting to announcements made by the Bank of China to warn a tightening in monetary policy. Recall that the Central Bank has decided in 2008 to fix the exchange rate in 6.83 yen to promote exports. “This strategy is part of our special package for the global financial crisis. Sooner or later end up with these special measures, “said its chairman Zhou Xiaochuan. » Read more: The loonie benefits from the surge in oil

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Dollar pending the NFP

March 5th, 2010 by Benton Pena View Comments »

On the last day of the week, the eyes will be on employment data in the U.S.. After meeting in the last quarter of 2009, the U.S. economy experienced an upturn of 5.9%, traders are awaiting the data from the unemployment rate to confirm the economic growth of the world’s largest economy. Among other things, we also know the German factory orders and the conference by Treasury Secretary Timothy Geithner on U.S. economic situation

So far, it has been released to the Production Prices in UK February. While the monthly rate that industry grew by 0.3% in the year the rally has been 4.1%. As a result, sterling appreciated slightly against the dollar and Euro.

Among other things, the market follows closely the economic and social situation in Greece, after learning that the measures announced by the government caused Hellene no good effect on the Greek population. However, the representatives of the members of the Euro Zone have held the tightening of monetary policy and its commitment to cut the fiscal deficit over the next two years.

In stock level, the Asian markets finished the week higher, with the Nikkei recorded the biggest increase this year, after learning the results of the initial request for U.S. unemployment. In Europe, the old continent selective spread of developments in Asia and traded higher, while Wall Street, the future of American hardwood green numbers recorded so far. » Read more: Dollar pending the NFP

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Pound and Euro await interest rate decision

March 4th, 2010 by Benton Pena View Comments »

The Forex market offers excellent business opportunities to the publication of a battery of macroeconomic data that we know today in Europe and America. Among them stand the decision on interest rates from the European Central Bank (ECB) and Bank of England (BoE). Also, in the U.S., the most important data will be non-farm productivity, factory orders and initial unemployment Petitions February. So far, we have known that the Gross Domestic Product (GDP) Quarterly Euro Zone has grown at a slower pace in the fourth quarter of 2009 while the annualized rate in the old continent’s economy experienced a contraction at a lower rate , to settle at 2.1%, when the previous figure was 4.0%.
With regard to yesterday, has released the Beige Book Federal Reserve (FED). According to the Central Bank, the economic situation continued to improve in U.S. in January-February, but weakly. It also stressed that the activity was increased in nine of 12 regions of the country, albeit slowly. Meanwhile, we have also known that Australia’s trade balance has exceeded expectations, recording a deficit of 1.18 billion Australian dollars in January, while in December, was -2.2 billion. Without a doubt, is a factor which again confirms the recovery of the Australian economy.

In stock level, the uncertainty surrounding whether the measures published in Greece to cut the fiscal deficit will be sufficient Asia have weakened the flooring, which closed in the day with losses of close to 2%. In Europe, the old continent selective spread of the closing night and also operate in the red, like the future of the main indicators of Wall Street.

With regard to raw materials, despite the bad data in weekly petroleum inventories in the United States negotiated the black gold has picked up a barrel of West Texas (WTI) at 80.52 dollars on the New York Mercantile Chamber (NYMEX ). Since logging, oil is seen 0.4%, recording a daily maximum of 80.95 dollars. For the remainder of the session, investors believe that the raw material increase in risk aversion, the commodity could perform an intraday pullback to the support located at 79.90 dollars.

Finally, the Dollar Index (DXY) continues the trend started long days ago, currently operating at 80.05 points. Since the beginning of session, this indicator can be seen slightly, registering a peak in the day in 80.30 and a minimum at 79.94 points. Mindful that if the data of initial requests for unemployment exceeding expectations, DXY’s first reaction might be that of a pickup.

» Read more: Pound and Euro await interest rate decision

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Reviews of King weaken sterling

February 23rd, 2010 by Benton Pena View Comments »
Excellent business opportunity has given us the foreign exchange market after the press conference given by President of the Bank of England (BoE), Mervyn King in the European morning. As the highest authority of the Central Bank, the UK’s economic recovery will be slow and will continue to credit restrictions. Finally, King said that could increase the capital of the asset purchase program – currently at 200 billion pounds – and reported that a weaker pound would boost exports, one of the most affected sectors today. As a result, the wire is weakened 180 pips so far, recording a daily minimum at 1.5404 dollars per pound.
Among other things, today they have published the minutes of the last meeting of the Bank of Japan (BoJ). According to the Central Bank, interest rates are appropriate and informed that deflation in the long term decline. Recall that the new Japanese Finance Minister has stressed its interest in locating the inflation into positive territory.

In today’s meeting, we learned that the German IFO survey has been below expectations, to be at 95.2 points, when the forecast was 95.8. Also, the Swiss franc appreciated against the euro and the dollar after publication of the UBS consumption indicator for Switzerland.
For the rest of the day, traders are focusing on consumer confidence, the Housing Price Index S & P / Case – Shiller and the Fed Manufacturing Survey of Richmond in the United States.
» Read more: Reviews of King weaken sterling

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