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| U.S. Unemployment Numbers Released Posted: 23 Feb 2012 07:59 AM PST
Unemployment claims from the U.S. remain roughly the same as last week following the report released this afternoon from the States. While there certainly could have been more positive news, the market is so far not experiencing any dramatic reaction from the announcement. Some analysts, however, are taking the news fairly positively as it does indicate the ongoing recovery of the American economy. Stay tuned for the possibility of more dramatic changes in the unemployment claims in the coming months. Read more forex news on our forex blog |
| Posted: 23 Feb 2012 06:13 AM PST
A dose of good news from Germany has boosted sentiment regarding the euro against the greenback. Earlier this afternoon, the euro was trading against the dollar at $1.3343 which marked its strongest point since December. Analysts, however, did predict that the EUR/USD would not be able to maintain its gains over $1.3300. In this instance, analysts we correct in their assessment as we now see that the euro has dropped down to $1.3294. Behind this recent push by the euro is the good news from Germany concerning its Ifo data. The Ifo, which assesses business expectations for the upcoming six months, indicated a sharp rise and positive growth from the EU’s largest economy. The figures can also serve as an important GDP indicator for the coming year. Based on these numbers, analysts are asserting that Germany will indeed avoid the much dreaded recession that many were worried about. Read more forex trading news on our forex blog. |
| Posted: 23 Feb 2012 03:06 AM PST
Gold rallied yesterday as it appealed to many traders as a durable option for investing. Today, however, gold has made a brief stopover and has ceased its upswing as of this morning. Currently, gold is hovering at 1778.8 and is subject to several trends around the market. China, for example, has gone through its fourth straight month with weak manufacturing numbers. The Chinese manufacturing sector continues to struggle to regain strength. This may lead to further measures down the line on the part of the Chinese government to ease monetary policy. This, in turn, could further drive investors to gold which would be seen as a more durable option. Furthermore, this assessment also lines up with what many technical analysts have already expressed; this may be just a brief lull in the overall rise of gold. |
| Posted: 23 Feb 2012 02:08 AM PST
Crude Oil dropped from its nine month high and as of this morning is hovering at 106.18. There are several factors contributing to the reprieve crude oil’s rise, first being the announcement that U.S. stockpiles of crude oil had increased. Additionally, the demand for gas and oil has down for some time in the U.S. Some cite the high prices and the still recovering economy for this decline in demand. Also contributing to the dip in crude oil prices are indications from Europe and China that they too are experiencing a fall in demand for crude oil. The ongoing Greek debt crisis and the overall uncertainty that surrounds the euro-zone’s economic health could very well be a contributing factor to the decline in crude oil. As for China, the demands for oil dropping could also be reflection of the contraction that the manufacturing sector has been experiencing as of late. |
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