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Day: October 12, 2011
October 122011
Employment Data Sends UK Pound Lower
A consumer sentiment index measuring how Britons feel about hiring prospects fell to minus 67, a decline of one point. The news that consumers aren’t feeling very confident has the UK pound lower against many of its counterparts on the Forex market. One of the problems for the UK pound recently has been its lackluster economic data. Soft data coming out of Britain continues to weigh on the pound, and worries that the British […]
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October 122011
US Dollar Lower as Global Equities Advance
The US dollar remains lower in Forex trading today, heading down as global equities continue gain ground. Instead of focusing on Slovakia’s rejection of the EFSF expansion, traders are focusing on bank recapitalization expectations. Investors are looking for higher yields, and avoiding safe havens right now. Lower yielding assets are being passed over in favor of higher yields as the tone is relatively optimistic ahead of eurozone announcements and the release of the minutes […]
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October 122011
Housing Data & Asian Stocks Rescue AUD & NZD
The currencies of Australia and New Zealand pared their previous losses today as the positive housing data and the advance of Asian stocks returned appeal to AUD and NZD. The House Price Index of Real Estate Institute of New Zealand rose 1.7 percent to 5,235 in September, the highest level since November 2009, from 5,192 August. The Australian Bureau of Statistics reported the home loans increased 1.2 percent from July to August, following the advance by 1.9 […]
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October 122011
Euro at Three-Week High on Optimism for Banks’ Recapitalization
The euro jumped to the highest level in three weeks today as Forex market participants anticipate the improvement of the European financial system after the recapitalization of the region’s banks. European Commission President Jose Barroso is planning to present proposals on recapitalizing banks. He said yesterday he hopes the proposals would be an “important contribution for the European Council and the euro-area summit on Oct. 23″. Greek Finance Minister Evangelos Venizelos reassured his country will […]
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