ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
UnemploymentTitle:
Loonie Looks Stronger, Employment Data May Weaken Currency
The Canadian dollar gained today as Forex traders showed risk appetite on signs that the situation in Greece is improving and some positive data from the United States. The gains of the currency were limited as tomorrow’s employment data is expected to be rather poor.
European politicians confirmed that Greece is receiving a next round of bailout. There are speculations that the most-indebted European country made progress in forming a new government. US federal budged had its first surplus since 2008. Most news was good today and that translated into demand for riskier assets. Both the Standard & Poor’s 500 Index and MSCI World Index of stocks were up 0.5 percent today.
Canada’s currency profited from the general positive sentiment on the FX market, but is weighed down by poor ...
Title:
Drop in jobless claims eases labor market fears
(Reuters) - The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labor market was deteriorating after surprisingly weak employment growth in April.
Another report on Thursday showed the U.S. trade deficit widened in March, with exports surging to a record high and a rise in imports highlighting the economy's firming underlying demand.
Together, the reports indicated the economy remains on a moderate growth path, despite the softer jobs growth and signs the service sector slowed in April.
"The slowdown we have seen in economic activity and employment growth during in the past two months may be in the rear view mirror," said Millan Mulraine, senior macro strategist at TD Securities in New York.
New claims for state ...
Title:
Euro snaps 8-session drop, up from 3-1/2-month low
The euro gained against the dollar on Thursday, snapping eight straight sessions of declines and bouncing from its recent 3-1/2-month low as stress in Spanish debt markets eased and Greece secured funds to repay its bondholders.
The tempering of the dual threats of a Greek insolvency and the country's potential exit from the euro also had the single currency rebounding from a mid-February low against the Japanese yen.
Greece averted an imminent funding crisis after the board of the European Financial Stability Facility agreed to release a scheduled payment. The allocation allows the country to meet near-term bond redemptions, helping the euro stabilize after an eight-day sell off.
"The EFSF agreement could be viewed as euro-positive, and data in the U.S. and overseas was not negative, ...
Title:
Stocks, euro advance on Europe, jobs data
Global stocks advanced for the first time in seven sessions on Thursday on relatively encouraging U.S. jobs data and improved investor sentiment regarding Europe's festering debt crisis.
U.S. and European equity markets rose after data showed U.S. claims for unemployment benefits edged lower last week, a sign of comfort after April's weak employment growth was perceived as a harbinger of a worsening U.S. labor market.
Investors also used a recent streak of declines to buy beaten-down assets, lifting the euro against the dollar for the first time in nine sessions and snapping a six-day losing streak for the Dow Jones industrial average.
"You are seeing traders and investors come into some of these very oversold sectors and buying on the dips. Then suddenly, the people who are scared ...
Title:
Copper pushes up despite weaker Chinese data
Copper rose for the first time in six sessions Thursday, recovering from the prior day's three-week low below $8,000 a tonne after a double-dose of upbeat data from the United States helped draw in buyers.
Copper rose in tandem with global equities, which were up for the first time in seven sessions, after data showing a fall in weekly claims for jobless benefits and a record surge in exports in March offset weak trade data from top copper consumer China.
Title:
Euro rebounds from multi-month lows
The euro rose against the dollar for the first time in nine sessions on Thursday, bouncing from its recent 3-1/2-month low as stress in Spanish debt markets eased slightly and after Greece secured funds to repay its bondholders.
The tempering of the threat of a Greek insolvency and the country's possible exit from the euro also had the single currency rebounding from a mid-February low against the Japanese yen.
Greece averted an imminent funding crisis after the board of the European Financial Stability Facility agreed to release a scheduled payment. The allocation allows the country to meet near term bond redemptions, helping the euro stabilize after an eight day sell off.
"The EFSF agreement could be viewed as euro-positive, and data in the U.S. and overseas was not negative, but ...
Title:
Global stocks, euro gain after U.S. jobs data
Global stocks rose for the first time in seven sessions on Thursday after relatively encouraging U.S. jobs data and as investor sentiment improved regarding Europe's festering debt crisis.
U.S. and European stocks climbed after data showed U.S. claims for unemployment benefits fell last week, an upbeat sign after April's weak employment growth was seen as a harbinger of a deteriorating U.S. labor market.
Investors also used a recent streak of declines to step into the markets, lifting the euro against the dollar for the first time in nine sessions and the Dow Jones industrial average for the first time in seven sessions.
In a move aimed at ending a four-year banking crisis, the Spanish government effectively took over Bankia SA (BKIA.MC), one of the country's biggest banks, late on ...
Title:
Oil choppy; weighs China, OPEC, U.S. jobs data
Oil prices were mixed in choppy trading on Thursday as investors weighed weaker-than-expected Chinese trade data and higher OPEC production against a better picture of the U.S. jobs market, muddling the oil demand outlook.
China, the world's second largest oil consumer after the United States, saw its exports and imports in April grow at a far slower rate than forecast, government data showed.
Its trade performance that month was also surprisingly weak, and analysts said the government would need to loosen monetary policy to spur expansion or risk missing annual growth targets.
The Organization of the Petroleum Exporting Countries said it pumped 1.62 million barrels more per day, to 31.62 million barrels per day last month as Iraq ramped up output and Libya's oil industry recovered.
...
Title:
Aussie Rallies on Surprisingly Good Employment Data
Australia’s employment data made a pleasant surprise for those Forex traders that were bullish on the Australian dollar as employment unexpectedly grew and the unemployment rate fell.
The number of employed persons in Australia rose by 15,500 in April from March, while analysts expected a drop by 4,800. The unemployment rate slipped from 5.2 percent to 4.9 percent, even though an increase to 5.3 percent was predicted. The Australian currency is still pressed by negative outlook for Europe and uncertain prospects for China, but the domestic data was simply too good and pushed the Aussie up, at least for now.
AUD/USD rose from 1.0039 to 1.0113 and AUD/JPY climbed from 79.91 to 80.81 as of 15:26 GMT today.
|