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Day: October 20, 2011
October 202011
Renewed Optimism for Europe’s Bailout Fund Boosts Loonie
Europe and its problems continue to rule the Forex market. Yet again traders looked with hope at the upcoming European Union summit as the speculation persists about the expansion of the EU rescue fund. The European leaders will meet at the summit in Brussels this weekend to discuss the current problems of the region and the possible measures to rescue the nations suffering from indebtedness, most notably Greece. It looks like Germany and France agreed on some sort of package […]
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October 202011
Japanese Yen Lower; Japan Considers Quake Bonds
Japanese yen is heading lower today as traders focus on good earnings in the US. It appears as though a eurozone solution is, yet again, being put off. However, traders are still look for yields, and the yen is lower as a result. In addition to the current Forex market conditions, some traders are also interested in the news that Japan might soon sell close to one trillion yen in bonds. These “quake […]
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October 202011
South Korean Won Drops as Traders Leave Asian Currencies
The South Korean won weakened today as Forex traders shun the currencies of emerging markets because of worries about the effect of the crisis in Europe on the global economy. Analysts think the gains of the won were to big to sustain, resulting in the current decline. South Korean Finance Minister Bahk Jae Wan said in parliament today that the nation should intervene in the currency market only when necessary to ease an adverse effect of the exchange rate on the economy. It […]
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October 202011
Franc Finds Strength in Fears of European Crisis
The Swiss franc gained today as many traders remained unconvinced about ability of the European leaders to find a cure for the region’s failing economy, driving Forex market participants to the perceived safety of the Swiss currency. The speculation about the potential increase of the European Union bailout fund was met with enthusiasm among investors, but many traders didn’t believed the politicians will reach an agreement to boost the fund. What’s more, even the increase of the rescue […]
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October 202011
Eurozone Leaders Reconcile on Rescue Plan; Euro Choppy
An apparent split between France and Germany on the subject of the EFSF has been causing problems in getting a deal done to contain the sovereign debt crisis. However, eurozone leaders are now saying that the two countries are in full agreement. The euro is a bit choppy today, on all the conflicting reports. Euro was lower earlier on news of the disagreement over what should be done with the bailout facility in the eurozone. The bailout facility […]
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October 202011
EUR/USD Doesn’t Know Where to Go as Traders Uncertain About Europe
EUR/USD virtually hasn’t gone anywhere in the past three days. The currency pair shows strong swings, but ends at about the same level as the sentiment about Europe and its problems changes from optimistic to pessimistic and than returns to optimism almost every hour, if not a minute. Generally, uncertainty plays more in favor of the dollar and currently the euro declines, following the big jump earlier this session. The data from the US was […]
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October 202011
Canadian Dollar Falls on Potential Disagreement About EU Bailout Fund
The Canadian dollar dropped today as the speculation that the rescue fund of the European Union won’t be boosted, making traders unwilling to buy currencies with higher potential yield, but also with higher risk. The speculation that the European leaders may expand the European Financial Stability Facility initially gave boost to commodities and growth-related currencies. But very soon talks emerged that the politicians wouldn’t agree on that matter, as it […]
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