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Day: October 19, 2011
October 192011
Aussie Gains as Forex Traders Look for Higher Yields
Today, the name of the game is risk appetite on the Forex market. Traders are looking for higher yields in their relief over a possible eurozone debt crisis deal, and the Australian dollar is heading higher as a result. Yesterday, Aussie faltered a little bit on the news that China’s growth didn’t meet expectations. Due to its reliance on China, the Australian dollar found itself sliding a bit, but China still shows growth, and that […]
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October 192011
US Dollar Pulls Back on Improved Risk Appetite
Once again, optimism is growing amongst Forex traders that a deal will be reached to contain sovereign debt in Europe. Even as Spain is downgraded, risk appetite is improving on the outlook for a plan to stop the spread of sovereign debt contagion. Indeed, rumors are flying that an agreement has been reached, and that means Forex traders are feeling optimistic enough to look for better yields in their currency trading […]
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October 192011
Pound Climbs After BoE Minutes
The Great Britain pound jumped today after the Bank of England monetary policy meeting minutes were released, showing that the central bank’s policy makers voted unanimously for the quantitative easing. The members of the central bank’s Monetary Policy Committee voted unanimously to boost asset purchase by £75 billion to £275 billion. The policy makers also vote to keep the target interest rate unchanged at 0.5 percent. The minutes said: While the stimulatory monetary […]
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October 192011
Euro Rebounds as EU Plans Boost of Bailout Fund
The euro regained its footing today on the speculation the European policy makers will increase the rescue fund to help in battle with the debt crisis. The Guardian newspaper reported France and Germany agreed to raise European Financial Stability Facility from the current level of â¬440 billion ($607 billion) to â¬2 trillion before the European Union summit this weekend. Financial Times Deutschland wrote German Finance Minister Wolfgang Schaeuble insisted that […]
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October 192011
EUR/USD Goes Higher with Optimism, Reverses Positive Trend
EUR/USD climbed today on the speculation that European leaders will boost the European Financial Stability Facility (the rescue fund). It looks like the optimism was short-live, though, as the currency pair retreated from this day’s high and currently shows tendency to fall. The data from the US continues to be moderately positive, reinforcing the dollar. CPI increased 0.3% in September on a seasonally adjusted basis, like forecasters predicted. Consumer prices rose […]
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October 192011
Yen Gains, Strengthened by Europe’s Woes
Yet another downgrade of a credit rating of a European country was announced. This time Spain’s rating was cut by Moody’s Investor Service, making traders shun risk and seek for safety of the Japanese currency. Moody’s reduced Spain’s credit rating by two notches to A1 from Aa2. The outlook stayed negative. The rating agency explained that the already moderate growth outlook for the nation’s economy is further threatened by the financial instability of the Eurozone. […]
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