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Day: November 8, 2011
November 82011
Canadian Dollar Loses Ground
Early, the Canadian dollar moved higher in Forex trading, helped by higher oil prices. However, now the loonie is moving lower as traders await the results of the vote in Italy. While the vote is more of a budget issue, it is also being seen as a measure of confidence in PM Silvio Berlusconi. Right now, a little bit of risk aversion has been introduced to the markets. The US dollar is still a little lower against […]
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November 82011
US Dollar Lower as Markets Await Italy Vote
A budget vote in Italy has markets waiting for what’s next — and expecting something positive. As a result of this cautious optimism, the US dollar is lower in Forex trading. With support for Italian PM Silvio Berlusconi all but gone (even from allies), it is little surprise that the markets are expecting something reasonably positive. For now, US dollar is lower, dropping as equities in Europe advance, and as US […]
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November 82011
Euro Under Pressure on Berlusconi Vote
The euro fluctuated today as the mounting pressure for Italian Prime Minister Silvio Berlusconi added Italy to the list of countries investors should be worried about. In fact, Italy was on that list, together with Portugal, Ireland, Spain and Greece, and traders were just reminded that the problems of the European Union aren’t limited only to Greece. Today’s vote should demonstrate whether Italian leader has enough support to stay in power. Meanwhile, […]
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November 82011
Pound Rises Ahead of Vote in Italy
The Great Britain pound strengthened today after the manufacturing production expanded, while the concerns about the situation in the European Union increased demand for the currency as a safe haven. Today Italian Prime Minister Silvio Berlusconi faces a parliamentary vote that will decide whether he’ll remain in his seat. The unpredictable outcome of the vote makes traders seek a refuge to safely wait and see how the situation will develop. UK manufacturing advanced 0.2 […]
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November 82011
AUD Falls on European Concerns & Unfavorable Australian Fundamentals
The Australian dollar declined today, extending its yesterday’s drop against the greenback and the yen as the concerns about the crisis in Europe and the negative fundamental reports from Australia decrease attractiveness of the currency. The news about the change of the leadership in Greece and the rumors about the Italy may also change its leader caused mixed feeling among investors. On one hand, new leaders may find a new approach for dealing with the financial problems of their nations. […]
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November 82011
CAD Gains as Crude Advances After Rally of Stocks
The Canadian dollar rallied as the gains of stocks triggered a rally of crude oil. The currency weakened a bit at the start of today’s trading, but does a good job of holding its gains so far. Crude oil rose 1.6 percent to $95.96 per barrel in New York trading and reached $96.11 — the highest level since August 1. Performance of crude has a great impact on Canada’s economy and currency as oil is the main nation’s […]
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