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Day: July 28, 2011
July 282011
Euro Slids for Second Day on Debt Crisis Concern
The euro fell against all of its major counterparts today, as the fear of the debt crisis spreading beyond Greece and other troubled countries of the Eurozone. The euro is currently demonstrating a second bearish day in a row against the US dollar, the Great Britain pound and the Japanese yen. It is falling against the dollar despite the stalemate in the US debt-limit discussions, which may lead to a technical default on August 2. Greece’s long-term sovereign credit […]
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July 282011
Euro Rises vs. Dollar on Pending Home Sales Increase
The EUR/USD pair increased today after a pending home sales report was released in the United States. Overall, the day was still quite bearish for the currency pair. It’s now trading near 1.4312. Initial jobless claims decreased significantly during the week ending July 23 and were at 398k — down from 422k (revised negatively from 418k) a week earlier. A slight drop to 415k was expected by the analysts. (Event A on the chart.) […]
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July 282011
Yen Gains on Greece & US Debt Problems
The Japanese currency attracted FX traders’ funds today, as Greece may face a selective default rating from S&P, while the United States are still likely to face a technical default next Tuesday. The Japanese yen is still considered as a safe haven by the risk-averting market participants, compared to the dollar and the euro. During the time of instability — financial and economic, the safe haven currencies attract buyers. The yen rose for the third day against the US […]
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