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Day: November 11, 2011
November 112011
UK Pound Mostly Higher as Risk Appetite Rises
Risk appetite has returned to the markets in full force today, and the UK pound is feeling the effects. Cable is moving higher today, supported by rallying equities and stability in the eurozone. With the situation looking hopeful in the eurozone, it is little surprise that the pound is gaining. Concerns about the collapse of the eurozone are receding, and Forex traders are breathing a sigh of relief to know that British banks, which are heavily […]
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November 112011
U.S. Dollar Pulls Back as Europe Stabilizes
The US dollar is pulling back as the situation in Europe stabilizes somewhat. Risk appetite is making an appearance, and the US dollar isn’t needed — for now — as a safe haven. As a result, it is down pretty much across the board. Things are stabilizing in Europe as the Italian Senate moves closer to passing austerity measures. Between that, and the efforts made by the ECB to keep Italian bond yields from spiraling too high, […]
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November 112011
Korea’s Won Profits from Central Bank’s Monetary Decision
The South Korean won rose today after the nation’s central bank decided to keep the interest rates unchanged and tensions about Europe subsided. The Bank of Korea left its Base Rate unchanged at 3.25 percent. Such decision was expected by analysts. There are signs that Greece and Italy resolved their problems with selecting new leaders. The absence of apparent leadership was eating away confidence in ability of the nations to deal […]
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November 112011
Euro Gains as Italy Passes Budget Bill
The euro extended its gains against the dollar today after the Italian Parliament approved the budget bill and on the signs that the problems with the transition of power in Greece and Italy were resolved. The positive outcome of budget voting demonstrated that Italian politicians are able to disregard their disagreements in order to support the nation and its economy. The is speculation that a new government lead by former European Union Competition Commissioner Mario Monti is […]
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November 112011
Yen Gains as Europe’s Crisis Means Slower Growth
The Japanese yen rose today as the escalating sovereign-debt crisis in Europe resulted in more pessimistic outlook for the region’s economic growth. The European Commission estimated that the economic growth in the European Union will almost stall next year. Gross domestic product of the EU and the Eurozone will grow only 0.5 percent through 2012, according to the EC forecast. The main reason for such downbeat outlook, as one may expect, is the credit crisis in the region. […]
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November 112011
Canadian Trade Balance Posts Surplus, CAD Rebounds
The Canadian dollar rebounded from the lowest level in four weeks after the nation’s trade balance posted an unexpected surplus in September, improving sentiment about Canada’s economy and increasing appeal of the Canadian currency. Canada’s merchandise exports grew 4.2 percent, while imports decreased 0.3 percent, resulting in trade balance surplus of $1.2 billion in September. Most analysts expected Canada’s trade balance deficit to stay near its previous level […]
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