Monday, 31 March 2014

New Zealand Business Confidence Top - ANZ Bank's Outlook

ANZ Bank's Outlook

According to ANZ Bank's business outlook survey, in  New Zealand business confidence slips down a little bit from the level of 20-year high yet it remains high during March. With the confidence level on all major sub-sectors at more than 50%, there is surely a sign for positive economic expansion.

Business confidence index is the percentage of speculations of positive business condition versus negative business condition. The chart displays a drop down of net confidence level from 70.8 in Feb to 67.3 in March
New Zealand business slips

This decrease in the confidence level is due to the decision by the Reserve Bank of New Zealand to increase the interest rates in order to reduce the pressures of inflation on the economy.  Investment intentions fell to 30.7% from 35.2%.

Friday, 28 March 2014

AUD/USD Currency Move Up - US Consumer Spending Rises

AUD/USD Currency

The Loonies relieved off from 4 month high versus the Greenback on 28th March 2014, with the data displaying consumer spending in the US increasing in February to a top level in three months.
The AUD/USD moved on the Forex session at 0.9295, later the pair dwindled down at 0.9244, reducing at a level of 0.15%. Forex traders speculate a lead of support with a low at 0.9216 and a resistance with a high at 0.9334.

With almost 70% of the American economy providing support to the consumer spending, an increase of 0.3% was seen last month, which drove high sentiments on the Forex Market. Further data from US Commerce Department supported that incomes increased by 0.3% in Feb.

A hawk’s Eye On The EUR/GBP Movement

 EUR/GBP moved down 0.03% to 0.8270. The pair slid down consenting to the economic sentiment of the Euro zone’s gauge, which showed an index of 101.3 in March against the 101.2 during February.During the last quarter of 2013, the United Kingdom’s final annualized Gross Domestic Product expanded to 2.7%, according to the median forecast by analysts. 

As per an analysis by Binary Tribune’s daily, if EUR/GBP happens to break the first resistance level at 0.8310, it is speculated that it may test 0.8345. If it breaches the second key resistance level, the pair will probably try to move up to 0.8369.

Technical chart

If the first key support at 0.8251 is broken by EUR/GBP, it will try to move down and test the level of 0.8227. If it breaches the second key support, then the pair will probably try to move down to 0.8192.

Thursday, 27 March 2014

Recently UBS Suspended Six Foreign Exchange Traders


Foreign Exchange
UBS AG suspended Foreign Exchange traders across the globe. The bank suspended three traders in New York, one trader in Singapore, two traders in Switzerland as its inquiry into the suspected rigging of currency markets extended.

The Switzerland’s biggest bank opened evaluation of its money processes last year after Bloomberg Update reported in June that Forex Traders in the industry had conspired to rig the WM/Reuters rates, a benchmark used by investors and companies about the world.

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Tuesday, 25 March 2014

Asian Stock Market Down – Forex Up

stock market

Asian stock markets had slight records to look at this morning as equities stay to effort on the Russia Ukraine scenario and also reply to Wall Street. Asian markets are trading on a negative message today on the back of additional than expected decay in US manufacturing data in yesterday’s trade, thereby representative a slowdown in the world’s major economy.

The Hang Seng was low by 0.10% while the Nikkei 225 was low by 0.35% and the Chinese market was top by 0.33%. Asian stocks fell, through the regional benchmark key sliding after its main gain in a month. US markets stimulated frequently lower led moderately by a fall in US manufacturing movement.
Asian Dollar
Let European stock markets clipped last week’s gains to close lower on Monday, off the back of weak Chinese statistics and intensifying tension in Ukraine

The US Dollar Index traded down by 0.2 % yesterday on the back of optimistic market feelings in initial part of the trade which ran to fall in request for the little yielding currency. The astonishment performer this morning is the Australian dollar which is trading at 0.9138 after moving a 2014 earlier in trading services.

Remaining in the Pacific county the Japanese yen relieved against together the US dollar and the euro to trade at 102.30 and 141.53 as traders look carefully the effects of the sale tax rise hitting on the 1st of the month and the response by the Bank of Japan.

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Monday, 24 March 2014

AUD/USD Dollar Forex Trade Business Expands In 2014


Recently AUD dollar framed advanced against its U.S. counterpart on 24th March 2014, let’s gains were anticipated to remain such  limited as unacceptable Chinese manufacturing documents weighed on the export related  Forex Currency.

Let know AUD/USD hit 0.9051 through late Asian trade business, the conference high the brace subsequently associated at 0.9091, adding 0.10 percentage .The pair was expected to discovery funding at 0.9037, the low of 21th March 2014 and resistance at 0.9134, the great of 19th March 2014.
AUD/USD Dollar

The initial evaluation of great China’s HSBC manufacturing buying managers' key fell to 8 month low of 48.1 in March month from a last reading of 48.5 in February month 2014. Analysts had probable the index to tick up to 48.7. The Aussie was marginally advanced against the Euro, with EUR/AUD edging downcast 0.09% to 1.5176.
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Saturday, 22 March 2014

U.S Dollar Rally Tails Off - Euro Starts Trading High

U.S Dollar

 On 21th March 2014 as world markets changed to conceivable shifts in U.S. economic policy and the euro rose on newsflash of a record scheduled euro zone current account excess. The U.S. dollar, whose improvements enhanced on Wednesday next the chair of the Federal Reserve implicit that U.S. interest rates may growth sooner than estimated, eased against other main currencies.

The U.S. dollar catalog DXY, which measures the dollar against 6 main currencies, weakened 0.12 % to 80.093, a day after moving a three-week high of 80.354.The Essex Foreign Exchange Analytic, Connecticut partner of Mr. David Gilmore said “We have had a decent correction and we are coming up for air.”

The Euro, which this week had been trading just shy of $1.40, was up 0.15% for the day in late New York trading to $1.3798. The shared money had a 21th Friday 2014 trading high of $1.3811 after striking a 2 week low of $1.3749 on 20th Thursday 2014.

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Wednesday, 19 March 2014

Australia Global Forex Foreign Exchange Trading Rigging


Australia is attentive of universal investigations into suspected Forex rate rigging in the $US5.3 trillion a day global foreign exchange trading, with the trade regulator introduction what is expected to be at least a year long review, recently Britain's Financial Times takes reported.

Australia Global Forex Foreign Exchange

The countries of Investigators in Europe, the US and Asia have been investigative banks and money traders to examine whether they conspired to manipulate the charge of currencies on global currency markets.

 Let’s Australian Securities and Forex Investment Commission chief Mr. Greg Medcraft told the FT that the controller was mindful of developments in foreign inquiries through co-operation with its universal peers.

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