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Day: June 16, 2009
June 162009
Euro Rebounds Versus Dollar on German Confidence Report
After days of decline versus the dollar, the euro climbed against the greenback after the German economic sentiment rose at a level higher than expectations, creating speculations of a quick European economic recovery, spurring demand for the Eurozone currency. The German ZEW economic sentiment, a report that is highly taken into consideration by traders, since it reflects the biggest European economy financial scenario, reached […]
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June 162009
Yen Rises as Stock Losses Spur Demand for Safer Assets
The yen had a day of massive gains versus the main high-yielding currencies as Asian stocks fell after speculations that a report may indicate a slowdown in U.S. industrial production, creating a risk aversion sentiment among traders. After a day of weak performance in most of the global equities markets, the yen rebounded, after several weeks of losses caused by improved confidence among investors, triggered to take higher-yielding positions in the stock and currency market. Speculations […]
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June 162009
Rebound in EUR/USD after Housing Data Release
EUR/USD rose today after the yesterdays deep fall. Its still trading below the Mondays open level but managed to recover more than a half of its loss. Good housing statistics from U.S. made Forex traders to bet against the dollar in favor of the high-yielding currencies. EUR/USD is now trading near 1.3882. Building permits rose from the seasonally-adjusted annual rate of 498k to 518k in May on 508k forecast. […]
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