With the U.S. markets closed today, a slow news day is likely to cause low liquidity in the marketplace. Still, there are several economic indicators that could create volatility and lead to a shakeup in an otherwise uneventful day.
08:15 GMT CHF Producer Price Index (PPI)
The PPI report shows the change in price for consumer goods purchased by manufacturers over the last month. The PPI is a leading indicator of inflation in the Swiss economy. A positive figure usually leads to gains for CHF as it shows that that the economy is stabilizing.... ( read more )
Archive for February, 2010
February 11, 2010 - Daily Forex Tips – February 11th 2010
A fairly slow news day today will likely be punctuated by a few market events likely to create volatility. Traders will want to pay attention to the weekly U.S. unemployment claims figures and the Canadian New Housing Price Index, as they are both likely to impact a number of currency pairs.
13:30 GMT USD Unemployment Claims
The U.S. unemployment figures are a record of the number of Americans who filed for first time unemployment insurance over the last week. The report is a leading indicator of American economic health and generally lea... ( read more )
February 8, 2010 - The USD Rises to 8 month high on US Non-Farms Report and...
The dollar climbed to an eight month high versus the EUR on Friday after the release of the U.S. jobs report. Credit concerns in Europe are weighing on the market as traders have moved out of riskier currencies and into the safety of the dollar and yen.
The greenback was significantly stronger across the board at the end of Friday's trading with the lone exception coming against the Japanese yen. Driving the dollar higher was a combination of a strong U.S. jobs report and European economic sovereign debt fears.
At the end of Friday's tradin... ( read more )
February 4, 2010 - The USD Gains Ahead of Non Farm Employment Data
The USD was higher against its major counterparts Wednesday, heading toward its highest levels versus the EUR since last summer, following the release of better than expected economic data from the U.S.
The USD rallied against its major currency counterparts Wednesday following the release of stronger than expected economic data. The greenback erased overnight losses against the EUR after the release of a better than expected ADP Non Farm Employment report in January while the ISM Non-Manufacturing PMI showed expansion in service sector acti... ( read more )
February 3, 2010 - Aussie Central Bank Shocks the Forex Market
Australia surprised economists by holding interest rates steady after the market unanimously predicted an interest rate hike. Also a chain of positive news has helped spot crude oil prices jump over 5.5% during the past two days.
The dollar fell today versus the EUR as worries were reduced over Greece's ability to repay its sovereign debt. However, trading ranges were tight as investors were hesitant to open such large positions prior to the release of the U.S. Non-Farm Payrolls report on Friday.
The EUR/USD rose to a closing price to day... ( read more )