New Zealand Dollar Still On Speculations - RBA Review

The New Zealand dollar remained steady with little alteration. Speculations are on the policy review by Reserve Bank of Australia tomorrow and on the US employment data which shall come in later this week.

The focus remains on the speech by the Governor of RBA, Glenn Stevens on the Australian dollar. Further, it is expected that the RBA will retain the target cash rate at 2.5 % after the analysis of the monetary policy tomorrow. 

The kiwi dollar remains the favorite among traders with the currency speculating a 5% gain over the greenback. Backed with the country’s robust economy and the increased interest rates by Reserve Bank, New Zealand Dollar will show some high this week. Adding to the positive business confidence are the economic figures showing better business and employment confidence together with the growth in new housing with more building permits by the government.

Euro Falls To Three-Week Lows As Yen Is Upbeat

Heeding to the data of lowest unemployment rate in six years, the markets showed a strongest upside for yen in more than three weeks against the euro. With speculations of additional monetary stimulus by the ECB, the demand of euro experienced more pressure.

Further sentiment that added fuel to the strength of the yen is the government report on the Japanese job market in which jobless rate declined to 3.6% last month, the lowest in more than six years.The EUR/JPY pair was seen at a session low of 139.97 at 08:16 GMT. Later, it stabilized at 140.15, sliding down 0.2% for the day.

Euro Low After ECB Comments On Monetary Easing

The Euro stayed near its recent lows against the dollar on 27th March 2014 induced by the comments from European Central Bank about reviving the speculation about further monetary easing to avoid potential deflation.

The Euro held its level at $1.3784, lingering dangerously near a low of $1.3749, a level at which the currency will trade at one of its lowest level since 6th March 2014. Against the pound, the Euro slid down to its 2 week low in early trade, descending to 0.8311 pound.

The Euro hit  3 week low of 140.28 against the yen on the trading platform EBS. This level was last seen before this month's ECB policy meeting. In the late U.S. trade on 26th  March, the Euro was seen trading down 0.2% at 140.40 yen.
 
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The Royal Swiss Bank Suspends Traders For Alleged Rigging

In an unprecedented event, UBS AG suspended foreign-exchange traders for alleged rigging of currency markets. Including Onur Sert, an emerging spot trader based in New York, three others worldwide were suspended. However, Sert and Dominik von Arx, a spokesman for UBS in London, declined to comment on the suspensions.

The report from Bloomberg News in June stating that traders conspired to manipulate the WM/Reuters rates has prompted the Switzerland’s largest bank review its currency operations last year. 

Regulators are still investigating on the communications between the traders and dealers for any evidence of unscrupulous exploitation.

While at least two dozen traders have been suspended by banks including Citigroup Inc., Royal Bank of Scotland Group Plc and Barclays Plc there is no confirmation of accusations on any firms or traders by government authorities.

USD/CAD Forex Off Lows Vs U.S. Durables Statistics

The U.S. dollar clipped losses against the Canadian dollar on 25th March 2014 pulling back from session lows later official data presented those U.S. orders for extended lasting manufactured goods originated in higher than forecast in February 2014.

USD/CAD drawn away from 1week lows of 1.1124, to trade at 1.1161, unmoved for the day. The pair was likely to find provision at 1.100 and resistance at 1.1209, Tuesday’s high. The loonies was sophisticated against the euro, with EUR/CAD down 0.26% to 1.5396.

U.S. dollar previous in the session as conjecture that China could implement new economic incentive actions boosted risk appetite.

British Pound/U.S. Dollar higher Upside Reversal

Technical features helped the GBP/USD finish greater on 24th march 2014. After early term weakness, the Forex pair overturned course to near better following an effective test main 61.8%   temporary level at 1.6469.

The great British Pound, the EUR/USD are established a 61.8% equal at 1.3766, but failed to make the same reaction. The substance behind today’s weakness was the weaker than predictable German Flash Manufacturing PMI and German Flash Services PMI.

Traders were observing for the Manufacturing PMI to drop since 54.8 to 54.7. The definite report showed a failure to 53.8. The Services PMI was predictable to weaken from 55.9 to 55.8. The report displayed a decline to 54.0.

The EUR/USD increased on the news and could grow even additional following the issue of the U.S. Flash Manufacturing PMI at 9:45 a.m. ET. This report is predictable to show a decrease from 57.1 to 56.6. June Gold locked lower on the strength of the U.S. Dollar. Another sign of weakness was the disappointment to rally after a reported skirmish over the week-end among Ukraine and Russia.

The dollar is in level of stage to overtake a few new levels of resistance this week. This might weight gold further. In calculation, some gold traders may be making for a long-term rally in the trade dollar since the Fed hinted that it could promotion its standard interest rate sooner than estimated.

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The Great Chinese Statistics Fails - Forex Traders 2014

The attention in the Forex business markets currently the lackluster Chinese HSBC PMI statistics which lost its stain again, printing at 48.1 against hopes of 48.7. An index of China’s manufacturing action showed extra weakness in this March month 2014, falling to an eight-month short and signifying that 1st quarter progress for the world’s No. 2 economy will be disappointing.

 

 The US dollar has scaled steadily to FX trade at morning at 80.32. The euro stumbled 0.9 % previous week but was static not far from a 2-1/2 year high of $1.3967 set previous in the month. That resilience prompted the president of the European Council, Herman Van Rompuy, to complain on Friday that the shared money was too strong for euro zone exporters.

The Japanese desire fell beside the euro to FX trade at 141.42 and against the US dollar at 102.49 later a speech from central bank Kudora presented that the bank would consider to pursue their present course to force the economy towards its 2% increase rate as traders worry about the effects on the sale tax growth due next week.

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