Posts Tagged: China

There are a lot of concerns dominating the trading market at the moment and, as we have seen during the previous days, there are some currencies which have lost territory due to these concerns. But, despite of the fact that the situation in Europe continues to remain just partially solved, it seems like traders are experiencing a cautious optimism which has led to the growth of some of the most important currencies around the world.

The Japanese Yen is one of the currencies which grew today based on the fact that investors are seeking for safety as a result of the concerns related to the Greek bailout and to the spreading of the debt crisis to other European countries such as Italy, Spain and Portugal. Moreover, traders feel even more concerned due to the referendum which is expected to take place in Greece, which could have a negative outlook, leading thus to the default of the Greek Read more »

The worsening of the global economic crisis has led to the decrease of several currencies which fell against some of their major counterparts, especially the US Dollar due to the increase of the traders’ concerns about the global economic environment.

The New Zealand Dollar decreased after the decision taken by Standard & Poor’s and Fitch Ratings of downgrading the sovereign credit rating of the country. This has caused the nation’s currency to fall against some of its major counterparts, especially the US Dollar, against which the New Zealand Dollar has reached the lowest level in six months. The currency also decreased against the Euro, the Australian Dollar and the Japanese Yen, but maintained almost the same value against the Great Britain Pound.

This comes after the decision of Standard & Poor’s and of Fitch Ratings of downgrading the country’s credit rating from AA+ to AA for foreign currency and from AAA to AA+ for the local Read more »

There has been economic news today which makes us believe that the risk aversion is falling again. The European debt crisis seems to find solutions on the aid from China, while the Canadian market seems to evolve slowly, but certainly. Based on these facts, the Canadian Dollar and the Japanese Yen have registered growths against most of their major counterparts.

The Canadian Dollar gained territory against its major counterparts due to the fact that the value of stocks and the one of the crude oil have advanced. This evolution has reduced the risk aversion which has been once more detected on the trading market and has improved the prospects of the growth-related currencies. It seems that the pessimistic outlook on the markets seemed to recede a little, despite the fact that there are lots of market analysts who believe that this evolution is not going to last for a long period of time and that the risky assets Read more »

The trading market has been, once more, taken by surprise today, with lots of currencies evolving in a rather unexpected way. The global financial situation is affecting again the trading market, causing large changes from one day to another due to economic concerns.

When it comes to the Eurozone, we can notice that the Euro has once again lost territory in front of its major counterparts. This is due to the fact that the optimism which seemed to dominate the market in the last period of time, generated by the speculation according to which China will buy Italy’s debt has quickly waned away. This has left the Euro without support, causing it to fail after the moment when Italy auctioned its debt. Moreover, there is a new skepticism which takes over the trading market at the moment, which implies that not even China is going to be able to prevent the spreading of the debt crisis to Read more »

The stock markets are relieved after Greece drove the austerity package through parliament. Wall Street rallied for fourth day yesterday and today the Nikkei is still rising. NIKKEI started the day at 9,878.69, previous close was 9,816.09. HANG SENG is closed today. Positive U.S. economic data is another supportive factor for the Nikkei. There were important economic news releases today. Tokyo Core CPI came in at 0.1% vs 0.2% expected. Household Spending data came in at -1.9% vs -1.7% expected. Tankan Manufacturing Index came in at -9 vs -7 estimated. Tankan Non-Manufacturing Index came in at -5 vs -3 expected. These worse than forecasted numbers did not have any big impact on Tokyo shares because investors have been focusing on the improving outlook after the devastating earthquake.

However, JPY slipped after the weak numbers. USD/JPY is trading at 80.72 by the time of typing. Resistance levels are located at 80.84 and 81.15. Supports are located at 80.23 and Read more »

The overnight trade brought a considerable change to the trading market as all the commodity currencies have scored impressive gains against most of their major counterparts based on the new data released which signaled a high inflation level in China, the United States and the United Kingdom, which has caused the risk appetite to boost.

On these bases, the Australian Dollar and the Canadian Dollar have had incredible gains. Their growth relied especially on the consumer price index data concerning the month of May in the UK and in China, which pointed out to the fact that inflation is still powerful in those areas. This has boosted the risk appetite, especially on the pre-North American Session, especially as the US report released yesterday showed that the input costs for producers were growing. The report announces the fact that the producer price index for the month of May has grown by 7.3 percent on a year-over-year basis, being thus Read more »

The Currency market started the day with USD gaining some strength against JPY. CHF/USD is going flat. EUR and GBP are showing strength against USD in the Asian session. Today we see Asian stock markets opening lower again. NIKKEI started the day at 9,411.71, previous close was 9,449.46. HANG SENG opened at 22,640.48, previous close was 22,661.63.

AUD dropped against other major currencies sharply after the Employment data released. The figures were worse than the market expected. The report showed that the nation’s employers added fewer jobs. The data came in at 7.8K, vs 25.6K expected. Full-time employment declined by 22,000 in May. Number of part-time jobs rose 29,800 last month. Participation rate, which measures the labor force as a percentage of the population over 15 years old, came in at 65.6%, vs 65.7% expected. Combination of Today’s figures and yesterday’s RBA statement are clearly putting more selling pressure on AUD for sure.

EUR/USD is climbing and trying Read more »

The Currency market started the with USD and JPY strength in the Asian session while Asian stock markets opened lower again. NIKKEI started the day at 9,428.62, previous close was 9,442.95. HANG SENG opened at 22,752.59, previous close was 22,868.67. Meanwhile JPMorgan improved its stance on Japan’s banking sector and raised ratings on major Japanese banks from “neutral” to “slightly bullish”.

Today USD/JPY is at one-month low of 79.75. A senior dealer at a major Japanese bank told that the pair was down on non-speculative selling from an American bank although the reason behind selling isn’t clear. USD/JPY selling pressure intensified after a series of stop-loss orders were triggered around 80. According to the data released by Japan Ministry of Finance, China bought ¥1.33 trillion Japanese long-term bonds in April. $/¥ support lines are located at 79.74 and 79.52. Resistance lines are at 80.25 and 80.56

AUD/USD is capped by a major resistance at 1.0765. It had tried Read more »

Even though the economic situation of the European Union is not at all improving, especially as the situation of Greece is getting worse based on the fact that the declarations concerning the possible renouncement at the European currency are now official, which causes investors to look help in safe currencies, the Euro managed to gain some territory on the trading market based on the fact that China is planning to purchase some European bonds.

The Financial Times have announced the fact that the Chief Executive Officer of the European Financial Stability Facility, Klaus Regling, has declared that there are some investors from China and from other Asian countries which are considering purchasing Portuguese bailout bonds. This is to happen after the moment in June when the EFSF will start selling the bonds. On the other hand, the Euro managed to gain against the US Dollar based on the fact that the US durable goods orders report showed that Read more »