Articles by: Miroslav Marinoff

Services sector in Italy kept sliding in May, while data from Spain showed a slower contraction

Italys services sector registered a faster rate of shrinkage during May. According to reports by Markit/ADACI, the indicator, which tracks activity (orders and purchases) among managers of companies, operating in the sector of services unexpectedly declined to 46.5 in May from 47.0 in April. Experts predicted a rise to 47.5. Services PMI in Italy remained still […] Read more

Australian dollar lowered versus US counterpart on Australian GDP data

On Wednesday Australian dollar lost positions against its US counterpart, as slowing GDP in Australia brought back to life expectations that interest rate reduction by the Reserve Bank of Australia could be possible. During later hours of the Asian trade, AUD/USD pair reached 0.9556, session low and lowest since May 31st, after which consolidation followed […] Read more

New Zealand dollar slipped versus US counterpart, markets eyed US data

On Wednesday New Zealand dollar lowered in value versus its US counterpart, with market players laying eyes on crucial economic data, scheduled to be released later today. During late Asian trade NZD/USD pair slid to 0.7980, currently the session low, after which consolidation followed at 0.7995. Support was expected at June 3rd low, 0.7943, while […] Read more

Yen gained positions after Japanese shares could not find support by growth plan

Japanese yen increased against most of its major peers, as Japanese Prime Minister Shinzo Abes plan for economic growth was not supportive to Japanese shares. Topix index of stocks extended losses to more than 2% and this caused yen to rally against the US dollar and the euro. Meanwhile, US dollars gained positions from yesterday were […] Read more

USD/CAD at session high after Trade Balance data from US and Canada

US dollar rose to session high against the Canadian counterpart on Tuesday, after official data stated that both the US and Canadian trade balance deficits increased during April. USD/CAD reached 1.0336 during early American trade, currently the session high, after which consolidation followed at 1.0324, adding 0.44% for the day.  The pair was likely to […] Read more

Euro up versus the US dollar, but gains seemed limited

EUR/USD edged higher on Tuesday during European afternoon session, but gains seemed limited, because investors awaited European Central Bank monthly meeting this Thursday and nonfarm payroll data from United States on Friday. The cross reached 1.3102 during late European trade, currently session high, after which consolidation followed at 1.3090. The pair was up by 0.12% for […] Read more

British pound erased losses against the US dollar

On Tuesday British pound was off lows versus the US dollar, as it was reported that UK Construction CIPS indicator rose in May to highest value since October 2012. After dipping to 1.5283, lowest level for current trade, pound climbed to 1.5320 during European trade. Support was expected at Monday low, 1.5190, while resistance was to […] Read more

US dollar up against the Japanese yen

On Tuesday US dollar moved up against the Japanese yen, as markets awaited the speech on economic growth strategy by Japanese Prime Minister Shinzo Abe tomorrow. USD/JPY reached 100.43 during the later hours of Asian session, currently highest value, after which consolidation followed at 100.30. Support was expected at Monday low, 98.85, while resistance was to […] Read more

Euro with slight retreat against expanding US dollar

On Tuesday euro slipped to lower levels versus the US dollar, as the greenback managed to regain positions against its peers, after yesterdays weak manufacturing data from United States, which caused dollar to plunge. EUR/USD pair slid to 1.3051 during Asian trade, currently the session low, after which consolidation followed at 1.3060. The pair was […] Read more

RBA left base interest rate unchanged on concerns Aussie was overvalued

Reserve Bank of Australia did not introduce any change in its base interest rate, as inflation prospects remained calm and Australian dollar was still at high levels against peers. RBA left base interest rate at the record low 2.75% level. Experts from the bank assured that its current monetary policy course was appropriate. They also […] Read more