• Forex » EUR/USD Dips on Markit PMI
    February 20, 2014, 17:52 GMT

    The EURUSD pair was lower Thursday, amid signs Eurozone business activity was unable to keep pace with US manufacturing growth in February. Business activity in the 18-nation currency bloc dipped in February despite the sharpest rise in new orders since mid-2011. Markit Group’s gauge of Eurozone business output fell from 52.9 to 52.7, a sign

  • Forex » US Inflation Edges Closer to Fed Target
    February 20, 2014, 17:46 GMT

    US consumer inflation registered a small increase last month, as higher energy prices offset declines in apparel and automobiles. Consumer prices in the United States rose 0.1 percent in January, after rising at a 0.2 percent clip the previous month, the Labor Department reported today. Compared to a year ago, consumer prices rose 1.6 percent,

  • The US manufacturing industry rebounded strongly in February, a sign manufacturers recovered from the weather-induced slowdown that halted new orders last month. Markit Group’s gauge of US manufacturing activity rose 3 percentage points to 56.7 in February, far exceeding estimates. A reading above 50 is a general sign of expansion in manufacturing activity, whereas a

  • US stocks were mixed at the open on Wednesday after the Nasdaq notched up a fresh 14-year high on Tuesday. Technology stocks are firing on all cylinders as traders ignore the weak data. Yields continue to remain subdued with the 10-year US yield hovering near the bottom end of the current range near 2.70%. Toward

  • US housing starts and building authorizations plunged in January, as severe weather accentuated already-existing weakness in the housing market. Groundbreaking in January declined 16 percent to a seasonally adjusted annual rate of 880,000, official data from the Commerce Department showed today. The decline follows a revised 1.05 million-unit pace in December. Meanwhile, building permits tumbled

  • Forex » US Dollar Weakened by Disappointing Data
    February 18, 2014, 19:30 GMT

    The US dollar index declined for the third consecutive day, as disappointing economic data reminded the forex market the Federal Reserve won’t rush to reign in record stimulus. The US dollar index declined nearly 0.2 percent to 80.01, as disappointing financial and housing data made their way through the markets. A series of volatile trade

  • Confidence among US homebuilders fell sharply in February, as severe weather in the Midwestern and eastern United States put a dent in the housing sector. The Housing Market Index, courtesy of the National Association of Home Builders, plunged 10 points to 46 this month. Economists in a Reuters poll forecast no change from the previous

  • Economic expectations for the Eurozone unexpectedly declined in February, a sign investors are still concerned about the currency region’s fragile recovery. The Eurozone Economic Sentiment index, courtesy of the Centre for European Economic Research (ZEW), declined from 73.3 to 68.5 in February. Economists in a Reuters survey forecast a slight increase to 73.9. The gauge

  • Forex » Canadian Dollar Strengthens in Subdued Trade
    February 17, 2014, 19:54 GMT

    The Canadian dollar was stronger Monday, as a dearth of economic data kept the forex market trading thin ahead of an active week of trade. As of 19:30 GMT, the USDCAD pair was trading at 1.0962, a loss of 12 pips. The Canadian dollar has experienced a modest resurgence in February, led by brighter prospects

  • Forex » GBP/USD Plummets on Thin Trade
    February 17, 2014, 19:47 GMT

    The British pound was lower Monday, as US traders paused for President’s Day. The GBPUSD pair fell to a session low of 1.6698 before consolidating north of the 1.67 handle. The pair traded at a loss of more than 50 pips, as a dearth of economic data kept the forex market speculating about monetary policy