Can US NFP Trigger Correction In US Dollar?

Can US NFP Trigger Correction In US Dollar?

By: James Ansher | Where To Trade | On:06-03-2015 10:44
Back

Key Highlights

  • US dollar maintained bid tone against the Euro and other major currencies during the past couple of sessions, and eyes the US NFP release for more action in the near term.

  • Japanese Leading Economic Index released by the Cabinet Office came in at 105.1.

  • Japanese Coincident Index was also released which posted a reading of 113 in January 2015.

  • German Industrial Production released by the Statistisches Bundesamt Deutschland registered an increase of 0.6% in January 2015, which was more than the expectation of 0.5%.

  • France Trade Balance i.e. balance between exports and imports of total goods and services released by MINEFA registered a reading of €-3.726B, compared to the last reading of €-3.400B.

  • France Budget Balance report was also released representing difference between income and expenditure at the end of the budget's period came in at €-9.4B in January 2015.

  • Swiss Foreign Currency Reserves which is the foreign currency deposits and bonds held by Swiss National Bank came in at 509.3B, compared to the last reading of 498.4B

German Industrial Production

Earlier today during the London session, the German Industrial Production, which measures outputs of the German factories and mines was released by the Statistisches Bundesamt. The market was expecting it to increase by 0.5% in January 2015, compared to the preceding month. However, the outcome was above the forecast, as the German Industrial Production gained by 0.6%. The last reading was also revised up from 0.1 to 1%. When we consider the yearly change, then the German Industrial Production increased by 0.9%, which was again on the better side compared to the forecast of 0.7%. The last reading was also revised up from a decline of 0.7% to a gain of 0.5%.

The report added that the production in industry when we exclude energy and construction remained around the same levels as that of the last month. Moreover, the production of intermediate goods and the production of consumer goods was down by more than 0.3%. On the other hand, there was a rise in the production for capital goods which climbed by 0.5%. Lastly, the production in construction also gained by 5.0%. 

France Trade Balance

The France Trade Balance which represents balance between exports and imports of total goods and services was released by MINEFA. The outcome was not as expected, as there was a deficit of €-3.726B in January 2015, compared to the last reading of €-3.400B. The Euro was seen trading in a range after the releases in the Euro zone. There was no major impact, as the EURUSD pair was already trading around critical support levels and declined heavily recently.

Technical Outlook – Euro

The Euro created a new low recently and traded a few pips below the 1.1000 support area, which is amazing considering the importance of the level. The pair is now weakened a lot in the recent times, and there are still many people who cannot believe that the pair is trading around the 1.10 area.

 

James Ansher

James Ansher

When there is a will there is a trade

A successful Forex trader and expert advisor

EURUSD Slow and Steady Uptrend

EURUSD Slow and Steady Uptrend

By: Ben Myers | Where To Trade | On:02-05-2015 11:21

Euro traded higher versus the US Dollar Intraday, and registered a new weekly high as buyers were optimistic after a report which points that better growth is possible in the Euro Area.

Euro Above 1.1200 And Looks Set For More Gains

Euro Above 1.1200 And Looks Set For More Gains

By: Simon Furman | Where To Trade | On:30-04-2015 11:11

Euro continued to gain momentum against the US dollar as the latter one weakened recently, which means there is more room for gains in the EURUSD pair.

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

By: Oliver Miller | Where To Trade | On:29-04-2015 11:06

UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.

EURUSD Looks Set To Break 1.0920

EURUSD Looks Set To Break 1.0920

By: Darryl Frankfort | Where To Trade | On:28-04-2015 10:53

Euro managed to gain bids during the London session against the US dollar, and it looks like the pair might break the recent high of 1.0920 to trade close to the 1.0950 level.

FX Market Continues To Consolidate Post Dollar Losses

FX Market Continues To Consolidate Post Dollar Losses

By: James Ansher | Where To Trade | On:27-04-2015 10:46

US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings