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Day: August 17, 2011
August 172011
Australia Dollar Receives Help from Commodities
The Australian dollar rose today, rallying to the highest price in almost two weeks against the US dollar, as commodities gained and increased appeal of growth-related currencies to Forex traders. The Leading Index of Melbourne Institute showed the annual growth of 0.1 percent in June. That’s not a bad result, compared to the 0.1 percent decline in the month before, but far below the long-term trend of 2.8 percent. The Wage Price Index rose 0.9 percent in the second […]
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August 172011
CAD Gains vs. USD as Investors Seek Higher Yield
The Canadian dollar advanced against its US counterpart as market sentiment improved, making investors more willing to risk and look for higher-yielding currencies. The currency was down against the euro and the yen. The Producer Price Index in the US, the major trading partner of Canada, rose 0.2 percent in July, following the drop by 0.4 percent in June. Market analysts expected no change. Futures on crude oil (the key Canadian export) gained 1.9 percent […]
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August 172011
Yuan Goes Down as Europe Saps Demand for Asian Assets
The Chinese yuan fell today as the central bank set the reference rate for the currency lower for the first time in six day after the European leaders failed to reach an agreement about measures for fighting the debt crisis. The European leaders were discussing yesterday the plans to issue joint euro-bond, but rejected that idea after all, making traders to question what exactly politician are going to do with the debt issues (and are they […]
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August 172011
SNB Doesn’t Mention Euro-Peg, Franc Resumes Rally
The Swiss franc gained today even after the Swiss National Bank announced yet another intervention. The explanation of such behavior is the fact that the Bank didn’t mention euro-peg, which it was considering, according to rumors. The SNB wrote today: The SNB has therefore decided to expand again significantly the supply of liquidity to the Swiss franc money market. Markets counted on euro-peg, when they were pushing the franc lower, and were […]
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August 172011
EUR/USD Surges Despite Debt Concerns
EUR/USD managed to jump today even after yesterday European leaders failed to reach agreement about measures to battle the debt crisis. The rally wasn’t caused by news from the US as there was not much US economic data today and what the released data was positive for the US anyway. PPI rose 0.2% in July, seasonally adjusted, following the 0.4% decrease in June. Market participants expected no change. (Event A on the chart.) […]
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