More Jobs in America

06-02-2012

Asian stocks were on the rise in early trading, boosted by positive employment numbers in the United States. Non-Farm Employment Numbers show that the U.S. market has added 243,000 jobs. The indices from Japan, Australia and Hong Kong were all up this morning, with Australia’s S&P/ASX200 show the greatest gain, at 1.08%. Indices in Europe did not imitate their counterparts in Asia, with the CAC 40, the DAX 30 and the FTSE all heading south. Mixed results in the United States, with the Dow Jones industrial down 0.23% and the S&P 500 up by 0.25%.

Old firm Japan hit hard

Growing signs that the Japanese economy is sinking into recession are becoming harder and harder to ignore. The Japanese electronics giant Sony has more than doubled its annual loss projection for the fiscal year ending on March 31. Panasonic and Sharp are also reporting grim predictions, with both estimating that they will lose more money this year than at any other time in their history. One of the main reasons for this dreadful showing by Japanese companies is the strong Yen, which continues to hamper Japanese manufacturing. Next door, South Korean electronics firms are blossoming, due in part to a weak Won. The USD/JPY is up this morning by 0.19% and trading at 76.75.

Positive American data nudges Aussie down

The Aussie is down against the greenback this morning because of strong employment figures that were released on Friday. The bank of Australia will be announcing interest rates later today. The AUD is also down against the Yen, but up against the Kiwi, trading at 1.2899, an increase of 0.07%. Leaving the Australian Dollar, the EUR/USD is down this morning by 0.71% and trading at 1.3064. The GBP/USD is down as well, trading at 1.5768, a decline of 0.29%.

Bernanke Testifies Again

Fed Chairman Ben Bernanke will be testifying yet again. After experiencing a rather busy schedule last week, Bernanke will be testifying before the Senate Budget Committee tomorrow. As always, the Q&A session will influence investors greatly, with plenty of opportunity available to vigilant traders. The economic calendar will remain quiet until Thursday, when a press conference by the European Central Bank will take place. Also on Thursday, the Unemployment Claims report in the United States will be released.

Commodities Down

Commodities are down this morning, as economic data from the U.S. has created positive investor sentiment towards the USD. Gold is down 0.30% and currently valued at 1735.05. Crude oil is down as well, trading at 97.27 USD per barrel.

Trends Reverse…Slightly 17-05-2012

The Euro is up slightly against the greenback during early European trading on Thursday, but remains far below levels from two weeks ago. The EUR/USD is up 0.18% and trading at 1.2739 this morning, rebounding from a 0.10% decline during yesterday’s trading in the United States that saw the pair close the session at 1.2717. The Dollar is [...]

The Collapse of Oil Prices Continues 16-05-2012

Early trading on Wednesday saw a continuing trend of investor concern towards the Greek political crisis and a rush to the greenback. With the chance of Greece leaving the Eurozone more likely with each passing day, the Euro continues to struggle against the Dollar. The EUR/USD is down 0.11% in early European trading this morning, at [...]

European Uncertainty 15-05-2012

The U.S. Dollar was up against most major currencies on Monday, as investor uncertainty regarding the Greek political crisis continued to push investors towards the safe haven of the greenback. The Euro is up slightly at the beginning of the European trading session on Tuesday by 0.05%, sitting at 1.2828. The Euro has declines sharply [...]

Euro Falls Once Again 14-05-2012

Political uncertainty in Greece and mass protests in Spain has pushed the EUR/USD down 0.15% to 1.2897 during late Asian trading on Monday. In fact, the greenback was either steady or up against most major currencies as traders searched for a temporary safe haven in order to dodge uncertainty in the markets. The increased value of the [...]

Time Is Ticking For Greece 11-05-2012

The Euro is back on the decline during Asian trading on Friday, with the EUR/USD down 0.14% and trading at 1.2920. The pair continues to hover at around 1.3000 after the single currency took a major hit due to fears surrounding political instability in Greece and future fiscal policy in France. The pound is also down against the greenback [...]

Euro Declines Stop 10-05-2012

The Euro has rebounded slightly against the USD during Asian trading on Thursday after posting huge losses over the last several days. The EUR/USD is up 0.15% and trading at 1.2946. The majority of major currencies are also up against the greenback this morning, including the Pound, Swiss Franc and Australian Dollar. The Aussie posted [...]

Euro Decline Continues 09-05-2012

The beginning of trading on Wednesday continued the negative trend of the Euro and oil. The Euro continues to decline sharply, down 0.24% and trading at 1.2975. The EUR/USD broke through the 1.3000 barrier earlier this week after European elections in France and Greece cast a shadow over the future of the single currency. The Euro is also [...]

Declines Continue for Oil and Euro 08-05-2012

The Euro is down once again during late Asian trading on Monday, after suffering huge losses yesterday. The EUR/USD is down 0.15% and trading at 1.3032. The single currency did manage to recover somewhat during late trading yesterday, rebounding from a decline of 0.81% at the end of the Asian trading session. Investors continue to show [...]

Future of the Euro in Doubt? 07-05-2012

Two key election results in the European Union are threatening to undo the single currency. Francois Hollande is the new president of France, after defeating Nicolas Sarkozy by a small margin in the second round of elections. Hollande is the first socialist president in France in the last seventeen years. Many voters in France expressed [...]

Oil Prices Plummet 04-05-2012

Oil prices plummeted during the U.S. trading session on Thursday after European Central Bank President Mario Draghi expressed concern over future growth of the EU economy. The price of crude was down 2.48% and trading at 102.61 USD per barrel. Oil was also hit hard because Draghi claimed that ECB was not planning to increase liquidity in [...]

Go Back