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  • #31
    Forex News from New Forex: Gold tumbles in the expectation of data from the US

    In the trading on Thursday, May 12, gold prices decrease ahead of the release of jobless claims in the USA. In the Mercantile Exchange in New York gold futures with the delivery in June slid 0.28% to $1,271.95. On Wednesday the rise was 0.85% to $1,275.50 a troy ounce. The immediate level of support stands at $1,266.90 (a low of May 10), the level of resistance is seen at $1,286.50 (a high of May 9).

    Gold spot lost 0.5% to $1,271.40, on Wednesday the increase was 1% (a high since April 29). Yellow metal gained almost 20% amidst low expectations of the interest rate hike by the Federal Reserve.

    Silver futures with the delivery in June trade at $17.320 per troy ounce.

    The US dollar gains ground after the announcement of the Japanese Finance Minister about the readiness to interfere into the currency market if the volatility of the yen keeps influencing on Japan’s economy. However, it is clear that delieasing of the yen to boost export will be a challenging task for the government.

    The dollar index climbed 0.16% at the moment to 93.95.



    NewForex Analyst
    Michael Butnitsky

    Forex News from New Forex: The dollar surges against the euro

    The greenback trades in mixed ways against main currencies in the trading on Thursday, May 12. Market participants are in the expectation of the jobless claims data from the USA. The currency pair euro/dollar shed 0.25% to 1.1397, the buck has not changed significantly versus the pound and stands at 1.4447. At the meeting of the Bank of England it was decided to hold the interest rate unchanged at 0.5% as expected. The rate has been kept by the bank since March 2009. The bank has also informed that the exit of the UK from Eurozone might hurt the economy of the country. The dollar slipped to 0.10% against the Swiss franc to 0.9698.

    The Australian dollar slid 0.56% versus its US counterpart to 0.7335. Meanwhile, the kiwi managed to advance 0.10% to 0.6825. The pair USD/CAD is at 1.2834. The Canadian dollar added 0.07% amidst the rise of oil prices. WTI jumped 0.37% to $46.60 per barrel, Brent edged up 0.33% to $47.93.



    NewForex Analyst
    Michael Butnitsky

    Comment


    • #32
      Forex News from New Forex: The US dollar loses ground against the yen

      On Friday, May 13, the greenback edges down versus the Japanese yen. The pair USD/JPY shed 0.28% to 108.70. Yesterday the Governor of the Bank of Japan Haruhiko Kuroda said that it would be hard for the Ministry of Finance to ease deliberately the yen in order to increase export. Euro/dollar slipped to 0.38% to 1.1332.
      Most market participants are in the anticipation of economic data from the USA on retail sales, producer prices and consumer sentiment.
      On Thursday the US Department of Labor released data on the unemployment rate last week. The number of jobless citizens rose by 20,000 to 294,000, although economists forecast an increase by 4000 to 270 000.
      The dollar index surged 0.27% to 94.36. European indexes tumble following the downtrend in Asian markets. The pan-European index STOXX 600 slipped to 0.59%. The UK’s FTSE slid 0.52%, the German DAX lost 0.72%, the French CAC 40 tumbled 0.55%.



      NewForex Analyst
      Michael Butnitsky

      Forex News from New Forex: The greenback rises after upbeat data

      After the release of data on retail sales the US dollar advanced, positive figures indicate the strengthening of the US economy. Retail sales climbed 1.3% in April, a high since March 2015. In March 2016 a 0.3% decline was seen. Core retail sales excluding car sales, surged 0.8% last month. The producer price inflation added 0.2% in April after a 0.1% fall in March.
      The currency pair euro/dollar slid 0.48% to 1.132. The yen lost 0.3% to 109.29. The Australian dollar slumped to 0.7% hitting a 2-month low.
      The dollar index picked up 0.43% to 94.51. Investors watch carefully movements in the oil market today. At the moment WTI edged down to 1.07% to $46.20 a barrel, Brent slipped to 0.92% to $0,87.



      NewForex Analyst
      David Fineberg

      Comment


      • #33
        Forex News from New Forex: The Aussie and the kiwi gain against the US dollar

        The Australian and the New Zealand dollar advance against the greenback in the trading on Monday, May 16. The pair AUD/USD surged 0.30% to 0.7284. The kiwi picked up 0.27% to 0.6781.

        The buck loses ground after the rise on Friday when retail sales data demonstrated an increase by 1.3% in April outstripping forecast of market participants. April rise was the biggest since March 2015. Preliminary data on consumer price index for May stands at 95.8 significantly rising from 89.0 in April.

        The dollar index has slightly decreased to 94.57 (-0.03%), which is close to a 3-week high at 94.84. European markets opened with negative dynamics amidst weak data from China. Industrial production dropped to 6% in April instead of a 6.5% rise. Retail sales declined from 10.5% to 10.1% last month.

        The pan-European index STOXX 600 fell 0.51%. Markets of Germany, Denmark, Austria, Norway and Switzerland are closed today due to a public holiday today.



        NewForex Analyst

        David Fineberg

        Forex News from New Forex: Oil and gold prices advance

        On Monday, May 16, Brent oil hit a 6-month high. In London Mercantile Exchange Brent edged up 1.8% to $48.70 a barrel reaching a high since November 2015. On Friday black gold shed 0.5%. WTI picked up also 1.8% to $47.06. Goldman Sachs Bank raised its forecast for the second half of the year up to $50 a barrel, in 2017 oil is expected to rise to $52.5.

        The oil market passed a stage of oversupply and now some deficit is expected. Oil production in Iran and Iraq will cover supply disruption from Nigeria. Supply deficit around 3.75 million barrels a day managed to smooth oil glut which pushed down oil prices up to 70%.

        Gold futures with the delivery in June surged 0.86% to $1283.70 a troy ounce, holdings in EFT-funds hit a high since 2013. Spot gold climbed 0.7% to $1.282. Last week the metal tumbled 1.2%, although on Friday it won back 0.8%. Silver rose 1.27% to 17.35 a troy ounce.



        NewForex Analyst

        David Fineberg

        Comment


        • #34
          Forex News from New Forex: The Australian and the New Zealand dollar rise against the greenback

          On Tuesday, May 17, the Australian and the New Zealand dollar gain ground versus the US counterpart after the decision of the Reserve Bank of Australia to mark down the expectations of the further interest rate cut and amidst the increase of oil prices.

          The currency pair AUD/USD added 0.92% to 0.7354. According to the report of the central bank of Australia, board members did not support further decrease of the interest rate in the short-run. The Reserve Bank of Australia cut down the rate to 1.75% on May 3 which surprised markets.

          The pair kiwi/dollar picked up 0.37% to 0.6813. The Reserve Bank of New Zealand left inflation expectations unchanged for the coming 2 years at 1.6%. The Japanese yen slipped to 0.39% ahead of the G7 meeting in Sendai where currency and fiscal policies of advanced economies are due to be discussed.

          The Canadian dollar surged 0.40% to 1.2843 against the US dollar. Rising oil prices influence positively on the sentiment of commodity currencies. WTI futures jumped 1.11% to $48.27 a barrel, Brent climbed 0.69% to $49.31 a barrel.

          Currently the dollar index shed 0.15% to 94.39.



          NewForex Analyst

          Sara Rosenstein

          Forex News from New Forex: The pound sterling on high again

          The pound sterling advances after the release of fresh economic data. In the morning trading market participants watched a decline of the British currency due to the slowdown of inflation in April. The decrease is the first since September 2015.

          The producer price index climbed from 0.3% in March to 0.4% in April, year-on-year the data improved from −0.9% to −0.7%. Retail price index declined from 0.4% in March to 0.1% in April, year-on-year the index fell from 1.6% to 1.3%. The house price index climbed from 7.6% to 9.0% year-on-year, according to the UK Office for National Statistics.

          The pound added 0.47% against the euro to 0.7818. The currency instrument pound/dollar jumped 0.57% to 1.4478.



          NewForex Analyst

          Sara Rosenstein

          Comment


          • #35
            Forex News from New Forex: The US dollar bolsters against the yen regardless the rise of GDP in Japan

            On Wednesday, May 18, the greenback advances versus the yen in spite of the GDP rise in Japan in the first quarter. The economy of Japan surged 1.7% year-on-year from January to March 2016 which has considerably outstripped forecast at 0.2%. Meanwhile, private consumption which takes up 60% of GDP climbed 0.5% after a 0.8% fall in the previous quarter.

            The currency instrument dollar/yen picked up 0.31% to 109.47. The demand for the US dollar rises after the increase of consumer prices with the highest pace in the last three years. It heightens the expectations of the interest rate hike later this year. Currently euro/yen slid 0.11% to 123.26.

            The dollar index gained 0.44% to 94.97.



            NewForex Analyst

            Michael Butnitsky

            Comment


            • #36
              Forex News from New Forex: Oil prices decline amidst the rise of the US dollar

              Oil prices have significantly fallen in the trading on Thursday, May 19, amidst the positive dynamics of the greenback. The US dollar managed to hit a 7-month high after the release of Fed’s minutes which enhance the chances of the interest rate hike.

              WTI with the delivery in June shed 1.93% to $47.26 a barrel. On Wednesday the black gold surged forward and hit $48.95, a high since October 12.

              US oil inventories rose by 1.31 mln barrels to 541.3 mln last week which was a surprise for global markets. In spite of some decline, supply outages in Nigeria, Libya and Venezuela lent support to oil prices. On the New York Mercantile Exchange oil climbed almost 80% since February 11 when prices were at $26.05.

              Brent oil with the delivery in July edged down to 1.57% or 77 cents to $48.14 a barrel. Yesterday prices jumped to $49.85, a high since November 4.



              NewForex Analyst

              Luigi Campo

              Forex News from New Forex: The Aussie under pressure

              The Australian dollar declines in the trading on May 19 after the release of employment data. Whereas the yen gains ground after unexpectedly high data on machinery orders.

              The currency instrument AUD/USD tumbled 0.22% to 0.7212. The amount of employed citizens rose by 10 800 in Australia, although market experts expected an increase by 12 500. The unemployment rate stays unchanged in April at 5.7%, the forecast was 5.8%.

              The pair dollar/yen slid 0.14% to 110.06. Orders in the machinery sector jumped 3.2% in April after a 0.8% rise recorded in March. The economy of Japan surged 1.7% in the first quarter year-on-year outstripping the forecast at 0.2%.

              The leading index of Japan Nikkei teetered between a positive and a negative zone today after the release of Fed’s minutes which don’t eliminate the possibility of the interest rate hike in June. The Topix slid 0.1%. JPX-Nikkei Index 400 edged down to 0.2%. The MSCI Asia Pacific Index slipped to 1% amidst the decrease of raw material and energy stocks.

              The dollar index slid 0.01% to 95.19.



              NewForex Analyst

              Luigi Campo

              Comment


              • #37
                Forex News from New Forex: Gold plummets under pressure of the US dollar

                Gold prices dropped to a 3-week low in the trading on Friday, May 20. Increased chances of the interest rate hike put pressure on the precious metal.

                On the Mercantile Exchange in New York gold futures with the delivery in June are seen at $1,255.35. The immediate level of support stands at $1,247.50 (a low of Thursday), the level of resistance is seen at $1,276.40 (a high since May 18). Spot gold trades at $1,254.46 a troy ounce. The yellow metal shed 1.5% this week, the largest fall since March 2016.

                Gold streams back after the Fed’s minutes and official statements of the Fed members about the high chances of the rate hike in June. This fact lends solid support to the US dollar which soared to a 7-week high against the main currencies. The dollar index stands at 95.29. A strong dollar reduces the investment potential of the precious metal and makes dollar-priced goods more expensive for holders of other currencies.

                At the moment silver futures with the delivery in July picked up 0.28% to $16.540 a troy ounce. However, silver slid 3.5% during the week, the biggest fall since March.



                NewForex Analyst

                Luigi Campo

                Forex News from New Forex: The pound slides against the dollar and the euro

                The pound sterling loses ground in the trading on Friday after the statement of the Bank of England about the possible necessity to stimulate the economy in case of the decision of the UK to stay in the EU.

                The pound dropped from a 3-month high versus the euro. The currency pair euro/pound climbed 0.51% to 0.7703. The pound was displaying positive dynamics against the main currencies during the previous several weeks amidst the straw polls of the UK citizens about the Brexit. Preliminary data indicate the wish of the UK citizens to keep the membership in the EU.

                The pair pound/dollar edged down to 0.34% to 1.4557.

                European markets show positive dynamics today. The pan-European index STOXX 600 surged 1.1%. The German DAX advanced 0.77%, the French CAC 40 rose 0.83%, FTSE added 1.31%.



                NewForex Analyst

                Luigi Campo

                Comment


                • #38
                  Forex News from New Forex: The Japanese yen gains ground against the US dollar

                  The Japanese currency climbed in the Asian tradings on May 23 amidst the rise of the trade surplus, which reached a 6-month high, and amidst the sharp decline of export.

                  In April trade surplus of Japan was ¥823.5 billion instead of expected ¥493 billion. Within the same period export fell 10.1% in comparison with the last year, import shed 23.3% which indicates the weakening of the home demand. The All Industry Activity index rose from −1.2% to 0.1%. However, it is below the forecast at 0.7%.

                  The yen picked up 0.64% against the greenback climbing to 109.42. The Japanese currency surged 0.44% against the euro to 122.93. Meanwhile, stocks decline due to the concerns over the sales tax increase. The leading index Nikkei edged down to 0.5% to 16,654.60. The Topix slid 0.4% to 1,338.68, the JPX-Nikkei Index 400 slipped to 0.4% to 12,090.65.

                  Among other currencies the Aussie and the kiwi should be watched closely, they are advancing against the US dollar at the moment. The currency instrument AUD/USD picked up 0.35% to 0.7244. The pair kiwi/US dollar jumped 0.61% to 0.6802.

                  Currently the dollar index slipped to 0.13% to 95.17.



                  NewForex Analyst

                  Joseph Schwartz

                  Forex News from New Forex: The greenback advances against the euro and the pound

                  In the trading on Monday, May 23, the US dollar stands near a 3-week high in the anticipation of the interest rate hike in June. The pair euro/dollar slipped to 0.13% to 1.1209. The single currency eased after the release of preliminary data on the PMI index in May which dropped to a 16-month low from 53.0 in April to 52.9 in May. Market participants forecast a rise to 53.2. Meanwhile, the PMI of Germany climbed from 53.6 to 54.7, in France a rise from 50.2 to 51.1 is seen.

                  The pair pound/dollar tumbled 0.09% to 1.4526. USD/CAD picked up 0.15% to 1.3135, which is close to a 6-week high.

                  European indexes demonstrate a downtrend, the main factor is sliding oil prices. The pan-European index STOXX 600 lost 0.44%. The UK’s FTSE fell 0.35%, the German DAX slid 0.87%, the French CAC 40 decreased by 1.0%. WTI futures with the delivery in July tumbled 1.38% to $47.74 a barrel, Brent shed 1.19% to $48.14 a barrel.

                  The dollar index surged 0.05% to 95.34.



                  NewForex Analyst

                  Joseph Schwartz

                  Comment


                  • #39
                    Forex News from New Forex: The Aussie and the kiwi tumble against the US dollar

                    In the trading on Tuesday, May 24, the Australian and the New Zealand dollar plummet against the greenback in the anticipation of the interest rate hike in June. The currency pair AUD/USD stands at 0.7169 (-0.71%). An additional factor which influenced on the decrease of the Aussie was the comment of the RBA Governor Glenn Stevens who stated that the government of the country expects a long and complicated work with the budget. The pair kiwi/dollar shed 0.64% to 0.6713.

                    Commodity pairs keep staying under pressure, oil prices show negative dynamics and investors are concerned about the further supply glut. WTI futures with the delivery in July fell 0.77% to $47.71 a barrel, Brent shed 0.91% to $47.91 a barrel. The Canadian dollar edged down to 0.29% versus the buck to 1.3179.

                    Asian markets are sliding waiting for the news from the Fed. The Japanese index Nikkei slid 0.7% to 16,540.52, the Topix slipped to 0.6% to 1,330.20, the JPX-Nikkei Index 400 tumbled 0.7% to 12,007.56.

                    The dollar index stands at 95.28, which is close to a 3-week high.



                    NewForex Analyst

                    David Fineberg

                    Comment


                    • #40
                      Forex News from New Forex: The greenback gains ground against the main currencies

                      On Wednesday the US dollar rose to a 2-month high against the main currencies. The currency instrument dollar/yen picked up 0.16% to 110.16, which is close to a 3-week high. The pair euro/dollar trades without considerable changes at 1.1141. The euro slightly declined (-0.02%) after the decision of creditors to unlock 10 billion euros for Greece in the bailout fund. In Germany the Business Climate Index climbed from 106.7 to 107.7.

                      The buck advanced against the pound sterling, the pair trades at 1.4614 (-0.14%), meanwhile the US currency slid 0.16% versus the Swiss franc.

                      The Australian and the New Zealand dollar added 0.35% and 0.24% respectively. The Canadian dollar edged up to 0.19%. The increase of oil prices lends firm support to commodity currencies. WTI with the delivery in July jumped 0.97% to $49.09 a barrel. Brent surged 0.93% to $49.06. US crude oil stocks dropped by 5.1 mln. barrels to 536.8 last week.



                      NewForex Analyst

                      Sara Rosenstein

                      Forex News from New Forex: Gold demonstrates negative dynamics

                      Gold futures decline in the trading on Wednesday, May 25. Investors forecast the rise of the interest rate in the USA.

                      On the New York Mercantile Exchange gold with the delivery next month hit an intraday low at $1,222.50 a troy ounce. Spot gold advanced 0.1% to $1,227.90. On Tuesday yellow metal shed 1.78% amidst positive new home sales data in the US. In April sales jumped 16.6% to 619,000 units, a high since January 2008.

                      In May gold futures slid around 5%. It is highly likely that the precious metal will drop to $1,200 in the nearest time due to the expectation of the interest rate hike in the US. Gold holdings in the largest EFT-fund SPDR Gold Trust tumbled 0.44% to 868.66 tonnes, the first decline this month. Silver futures with the delivery in July slid 0.6 cents or 0.04% to $16.26 a troy ounce.

                      The dollar index edged down to 0.06% to 95.54.



                      NewForex Analyst

                      Sara Rosenstein

                      Comment


                      • #41
                        Forex News from New Forex: The Aussie advances, the kiwi tumbles

                        In the trading on Thursday, May 26, the Australian dollar climbs against the US dollars, whereas the New Zealand kiwi falls due to the growing demand for the greenback. The pair AUD/USD added 0.18% to 0.7210, a rise is limited by the decrease of private capital expenditure in Australia by 5.2% in the first quarter.

                        The currency instrument kiwi/dollar slid 0.36% to 0.6716, a low since March 28. The head of New Zealand’s Treasury claimed that the Brexit might have a negative influence on the country’s economy. Among other risks were mentioned an economic slowdown in China, geopolitical tension in the Middle East, a risk of terror attacks in Europe.

                        The Japanese yen edged up 0.25% versus the US dollar to 109.90. The corporate service price index remained on the same level at 0.2% as expected.

                        The dollar index slipped to 0.19% to 95.25.



                        NewForex Analyst

                        Michael Butnitsky

                        Forex News from New Forex: Brent hit a 7-month high

                        Oil prices soar in the trading on Thursday, May 26, boosting global markets. Brent reached $50 a barrel for the first time in seven months. On the Mercantile Exchange in London Brent with the delivery in July jumped to $50.06 a barrel, a high since November 4. Yesterday black gold surged $1.13 or 2.32%. On the New York Mercantile Exchange WTI with the delivery in July added 33 cents or 0.67% to 49.86 a barrel, a high since October 12. On Wednesday, May 25, it gained 94 cents or 1.93% after the report about the reduction of crude oil inventories in the USA. The stocks fell by 4.2 mln barrels to 537.1 mln last week.

                        Brent futures climbed almost 85% since February in spite of the failure of talks in Doha in April devoted to freezing of oil prices. On June 2 the next meeting of OPEC members is due to be held in Vienna, market players forecast a further rise of oil prices.

                        European stocks stay in the green zone amidst the upsurge of oil prices. The UK’s index FTSE advanced 0.08%, the German DAX picked up 0.33%, the French CAC 40 gained 0.17%.



                        NewForex Analyst

                        Michael Butnitsky

                        Comment


                        • #42
                          Forex News from New Forex: Gold keeps sliding

                          On Friday, May 27, gold prices reached a 3-month low, strong positions of the US dollar bring firm pressure on the precious metal. Another factor influencing on the sentiment around gold is the expectation of Jannet Yellen’s speech tonight.

                          Most market players hope to hear some subtle hints about the terms of the interest rate hike during the speech of the Fed’s Chair. Gold is particularly sensitive to changes of the interest rate. A powerful dollar decreases attractiveness of gold as an alternative asset and makes dollar-priced goods more expensive for other currency holders.

                          Today on the New York Mercantile Exchange gold futures with the delivery next month are seen at $1,221.05. The immediate level of support is at $1,211.00 (a 3-month low), the level of resistance stands at $1,232.60 (a high of May 26). At the moment spot gold shed 0.03% to $1.219.35. The yellow metal was showing negative dynamics this week and lost 2.4%, the largest slump in two months.

                          Currently silver futures with the delivery in July slid 0.39% to $16.280 a troy ounce.



                          NewForex Analyst

                          David Fineberg

                          Comment


                          • #43
                            Forex News from New Forex: The US dollar rises against the Aussie and the kiwi

                            On Monday, May 30, the Australian and the New Zealand dollar decline against the greenback. The report of the Fed’s Chair Janet Yellen last Friday lent support to the US dollar, whereas falling oil prices keep bringing commodity currencies under pressure. On Friday Janet Yellen claimed that in the coming months the interest rate hike should go gradually and cautiously. The increase of the GDP boosted the US dollar, in the first quarter the figures rose by 0.8% instead of expected 0.5%.

                            The currency instrument AUD/USD slid 0.10% to 0.7173. If the Aussie goes below 0.7145, it will hit a 3-month low. Fresh economic data had a negative influence on the Aussie. The Company Gross Operating Profits dropped from −3.6% to −4.7%. According to the report of Housing Industry Association, new home sales tumbled in Australia from 8.9% in March to −4.7% in April. At the moment the pair kiwi/dollar shed 0.07% to 0.6686, a low since March 28.

                            As for oil prices, a negative dynamics is observed today. WTI futures slipped to 0.14% to $49.26 a barrel, Brent lost 0.32% to $49.16 a barrel.

                            The dollar index rises, in the morning tradings it climbed 0.11% to 95.84.



                            NewForex Analyst

                            Luigi Campo

                            Forex News from New Forex: The yen plummets against the US dollar

                            The greenback hit a month high against the yen in the trading on Monday, May 30. The Friday’s report of the Fed’s Chair Janet Yellen boosted forecasts of market participants regarding the interest rate hike. The pair dollar/yen picked up 0.81% to 111.03, a high since April 28.

                            The commentary of the Japanese Prime Minister Shinzo Abe about a possible delay of the sales tax increase played a negative role for the yen. The fall of the yen against the euro is even stronger today, the Japanese currency shed 1.18% to 123.68.

                            Asian indexes trade in mixed ways on Monday. The Japanese Nikkei 225 added 1.39% to 17,068.02. The Chinese Shanghai Сomposite surged 0.1%, the Shenzhen Composite slid 0.45%. The Hang Seng advanced 0.3%.

                            European markets digest the Friday’s report of the Fed’s Chair, main indexes trade mostly in the green zone. The UK’s FTSE climbed 0.08%, the German DAX edged up to 0.32%, the French CAC 40 rose 0.04%. In Eurozone the economic sentiment index advanced from 104.0 in April to 104.7 in May.



                            NewForex Analyst

                            Luigi Campo

                            Comment


                            • #44
                              Forex News from New Forex: The dollar keeps rising

                              In the trading on Tuesday, May 31, the greenback hit a 2-month high against the main currencies. The dollar index picked up 0.02% to 95.74, which is close to a high since March 29. The demand for the dollar climbs amidst the rising expectation of the interest rate hike by the Fed, the last time it was increased in December 2015.

                              The euro shed 0.13% against the buck, the single currency slid 0.26% against the yen. Preliminary data on the consumer price index in Eurozone demonstrates negative figures at −0.1%. Low data certainly raises concerns over the deflation in the region.

                              Today the greenback has slightly weakened against the yen losing 0.15% to 110.95. The yen gained ground after the unexpected rise of the industrial production by 0.3% in April. Overall households spendings decreased only by 0.4% instead of the forecast at 1.4%.

                              The Aussie and the kiwi managed to advance 0.74% and 0.34% against the US dollar. Positive data in the building sector lent support to the Australian dollar. The amount of building permits increased by 3.0% instead of expected decline by −2.8%. Business confidence index rose in New Zealand from 6.2 in April to 11.3 in May.



                              NewForex Analyst

                              Joseph Schwartz

                              Forex News from New Forex: The euro again advances against the greenback

                              On Tuesday tradings the euro fluctuates between positive and negative magnitudes. Currently the pair euro/dollar surged 0.13% to 1.1158.

                              Preliminary data on the consumer price index in May completely coincided with forecasts of economists. Consumer prices slumped 0.1% in May. Falling oil prices exerted a negative influence on the inflation in Eurozone. Energy prices tumbled 8.1% in May in comparison with the last year. Core inflation climbed from 0.7% in April to 0.8% in May. The unemployment rate in Eurozone in April is at 10.2% as in March.

                              European indexes stay in the red zone due to the possible interest rate hike in the USA. The pan-European index STOXX 600 slid 0.24%.



                              NewForex Analyst

                              Joseph Schwartz

                              Comment


                              • #45
                                Forex News from New Forex: The yuan hit a 5-year low

                                In the trading on Wednesday, June 1, the Chinese yuan tumbled 0.2% hitting a 5-year low. The PMI index including construction, transport and telecommunication companies declined from 53.5 in April to 53.1 in May. The currency shed 1.5% in May, the biggest fall since August last year. A strong dollar keeps bringing the yuan under pressure.

                                The Australian dollar advanced 0.3%. The GDP of Australia surged 3.1% in the first quarter outstripping the forecast at 2.9%. The New Zealand currency gained 0.3% after the rise of the Terms of Trade Index by 4.4% in the first quarter instead of the expected fall by 0.2%.

                                The Japanese yen picked up 0.6% today. In May the currency lost 3.8%.

                                In the commodity market WTI slumped to 0.9% to $48.67 a barrel. On June 2 the OPEC meeting is due to be held in Vienna, most market experts consider that it will not lead to any agreement about the restriction of oil production. On Tuesday the oil minister of the UAE said that the global surplus which led to a sharp price decline is self-correcting at the moment.



                                NewForex Analyst

                                Luigi Campo

                                Forex News from New Forex: The pound plummeted against the dollar and the euro

                                On Wednesday, June 1, the pound sterling hit an intraday low after the release of economic data. The manufacturing PMI rose from 49.4 in April to 50.1 in May. Although magnitudes above 50.0 show the rise, May data look not so confident. The state of the UK domestic market is quite favourable for business but unsteady global economy brings the number of export orders under pressure. In Eurozone the manufacturing PMI declined from 51.7 in April to 51.5 in May.

                                The pair pound/dollar trades at 1.4437 (-0.28%). The currency instrument euro/pound is seen at 0.7736 (+0.65%). Another negative factor for the pound was the decision of the Organization for Economic Cooperation and Development to cut the forecast of the economic growth for this year from 2.1% to 1.7%. The organization has also warned that Brexit might hit the global economy.

                                At the moment the dollar index shed 0.43% to 95.41.



                                NewForex Analyst

                                Luigi Campo

                                Comment

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