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- Jobless Claims and PPI Rise, EUR/USD Still Down
EUR/USD continued to fall today despite the increase of the producer price index in United States. The number of jobless also grew but that’s actually a negative factor for the euro and good for the dollar. EUR/USD is now trading near 1.3560. Both up and down moves were detected during the trading session.
PPI went up by 0.3% (seasonally adjusted) in April after by 1.2% in March. Traders expected a 0.2% gain today.
Initial jobless claims rose from 605k to 637k last week. They were expected to go up only to 610k.
Posted on Forex blog.
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Переслать - Win Hummer H3 with InstaForex
A new long-lasting promotion campaign was announced by InstaForex broker today. They now offer a brand new Hummer H3 SUV to the random winner of the drawing. Anyone who deposits (or in any other way increases the account balance, e.g. by profiting from trading) at least $1,000 and registers for a participation between June 1st 2009 and May 28th 2010 is eligible to win the prize. There are three types of prizes in total:
- Hummer H3 for the random winner
- 10 PDAs for 10 random winners
- Free $100 bonus to every 100th registered participant
The drawing of the random winners is very clear and transparent, so no cheating from InstaForex is possible. At the end of May 28th 2010 at 23:59 system time the last digits of the EUR/USD, GBP/USD, USD/CHF, USD/JPY and USD/CAD currency pairs’ rates will determine the account number of the winning participant, which will receive his or her Hummer. 10 PDAs will be granted to the 5 preceding and 5 following accounts before and after the main winning account.
If you are interested in participating you can get more information about InstaForex and register for this drawing.
Posted on Forex blog.
Trade with a leading Forex service provider — trade with Ava FXПереслать - EUR/USD Falls as Retail Sales Continue Their Drop
Euro fell today against the U.S. dollar as the retail sales unexpectedly continued to drop despite the increase of both import and export prices. Other global fundamental factors also pressed on the euro, helping the greenback to almost fully recover after a minor loss yesterday. EUR/USD is now trading near 1.3583 after reaching as high as 1.3721 earlier today — the highest level since March 23.
Advance retail sales report for April showed a decrease by 0.4% following 1.3% decline in March (revised down from 1.1%). They were expected to remain unchanged compared to the March level.
Import prices increased by 1.6% in April in United States after 0.2% growth in March; the forecasts were averaged at 0.6% growth for the month of April. Export prices rose by 0.5% in April after 0.7% decline in March.
Business inventories decreased by 1% in March, following 1.4% decline in February (revised down from 1.3%). The market analysts anticipated 1.1% drop from the report for March.
U.S. crude oil inventories decreased by 4.7 million barrels last week compared to the previous week - for the first time in many weeks. They gained 0.6 million barrels a week ago.
Posted on Forex blog.
Trade with a leading Forex service provider — trade with Ava FXПереслать - EUR/USD Fails to Break Through Resistance on Global Trade Decline
The dollar was losing strongly during the early trading session today but failed to fall past its support and euro’s resistance level located near 1.3720, as the U.S. reported decline in its global trade and traders shunned the high-yielding assets. EUR/USD is now trading near 1.3622.
U.S. trade balance report for March showed an increase from $26.1 billion to $27.6 billion deficit today as the exports fell faster than the imports in U.S. The average forecasts pointed at about $29 billion deficit report.
Treasury budget report for April revealed $20.9 billion deficit, which followed $191.6 billion deficit in March (revised negatively from $159.3 billion). The budget deficit came out to be quite the same as the market participants expected.
Posted on Forex blog.
Trade with a leading Forex service provider — trade with Ava FXПереслать
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