Posts Tagged ‘USA’

A considerable amount of attention by online Forex traders has centred around the relationship between the United States dollar and the euro. There continues to be a significant amount of speculation in regards to the monetary strategies employed by the Federal Reserve in relation to the actions of the ECB.

In particular, surprisingly robust employment figures out of the United States have hinted that the Fed may hike interest rates in December.
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One of the biggest pieces of news to impact the online forex trading community this week has been the announcement that the latest US job figures are not as high as was hoped for.

Despite a range of measures having been put in place by President Obama and his administration to try and improve the USA’s worrying job situation, the modest target of an extra 180,000 jobs was not met.
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The online forex trading new on Monday saw the dollar managing to surpass the yen for the first time in five trading sessions, which is welcome news to a number of investors.

This relatively expected rise took place as there was a substantial gain in the manufacturing sector for the state of New York, which has generally seen favourable results in the month of June. Though we are still in the middle of the month, the trends show promise for future investors in the months to come.
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In the financial news this week, fears of a continued slowdown in consumer spending in the US proved to be unfounded as official figures showed a rise of 0.2% in March.

Although this was the lowest rise in consumer spending since the start of the year, following growth of 0.3% and 0.7% in January and February respectively, many analysts had anticipated no change in spending levels.
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Online Forex Trading investors will be buoyed by news that global markets have responded positively to the US fiscal agreement on the first trading day of 2013, as a last minute deal was struck by Congress to avert the so-called ‘fiscal cliff’.

In London the FTSE 100 surged beyond the 6000 level for the first time in over seventeen months with banks making some of the biggest gains, after similar improvements in the Asian markets earlier, with Hong Kong’s Hang Seng increasing by 2.9% to its highest level since June 2011.

Both the DAX and the CAC 40 also rallied positively to the news of the US deal. The Dow Jones was up by just over 2% at 10:15 EST.
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This week’s online Forex trading news has been highlighted primarily by the fiscal conditions currently underpinning the Eurozone, with a moderate consideration regarding investors’ stances on the US dollar.

While the primary concern is the United States government’s approach to the looming deficit cliff, the Federal Reserve seems to have made progress towards the latter part of the week which will help bridge the gap between the democrats and republicans. However, in Europe near term worries continue to daunt any real gains in the value of the Euro.
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In the latest forex news, the US dollar has slid considerably in comparison to other major currencies.

While earlier this month many forecasts were bullish regarding the dollar’s upward trend, analysts have now scaled off this position and are taking a more contemplative approach.

Indeed, the dollar may slide further as is possibly indicated by the relative strength index (RSI) which appears to be setting the stage for a downward trend in the weeks to come. This is especially relevant considering that the Jackson Hole Economic Symposium is on schedule for the following week.

Although the bearish stance for the dollar may continue temporarily, should chairman Bernanke not hint at another round of QE3, sentiments may begin to reverse.
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Morgan Stanley’s Martine Bond has left her position as Chief Operating Officer of Foreign Exchange and Emerging Markets in favour of a new, as yet unnamed, role within State Street Corporation.

It’s understood that she has been placed on ‘gardening leave’ from her position at Morgan Stanley with immediate effect. Ms Bond made the transition from JP Morgan to Morgan Stanley in 2009, originally working as Global Head of FX Prime Brokerage before being promoted to the COO role managing Forex in March of 2011.
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