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Day: November 18, 2011
November 182011
Loonie Makes Way Higher as Tensions Recede
The Canadian dollar strengthened today after the positive fundamental report lead to optimism among investors that was further reinforced by the good news from Europe. Canada’s consumer prices increased 0.3 percent on a seasonally adjusted monthly basis from September to October, after rising 0.4 percent the month before. The Canadian leading indicators rose 0.2 percent in October, after the gain of 0.1 percent in September. The reading was in line with […]
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November 182011
Korea’s Won Still Feels Pressure from Europe
The South Korean won remained lower today as concerns about the sovereign debt crisis in Europe were negative for the currency. Spain auctioned its new 10-year notes at the average yield of 6.975 percent yesterday, causing the Kospi index of shares drop 2 percent today. Yield on Italyâs benchmark 10-year debt jumped above 7 percent this week. The economic health of South Korea itself looks good, but Finance Minister […]
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November 182011
South African Rand Higher on Good News from USA
The South African rand went higher today for the first time this week as the good fundamentals and the outlook for the USA overshadowed the European crisis. William Dudley, president of the Federal Reserve Bank of New York and vice chairman of the Federal Open Market Committee, suggested in his speech yesterday that the Federal Reserve has capacity to ease the monetary policy further in order to support the nation’s economy. The fundamental report this week continued the trend of the previous […]
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November 182011
Yen Remains Strong Against the US Dollar
Japanese yen is higher today against the US dollar, a situation that has many companies in Japan increasing their efforts to shift overseas. Yen continues to strengthen, in spite of efforts by Japanese leaders to keep the currency weak against the dollar. Right now, Japanese manufacturers are trying to figure out how they can remain competitive in a world where the Japanese yen simply won’t remain lower against the US dollar. […]
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November 182011
Euro Rises on Optimism, Mario Draghi’s EFSF Prodding
Euro is heading higher today, gaining after four days of losses. Forex traders hope that the ECB’s buying of Spanish and Italian bonds will slow yield rises. Additionally, traders are optimistic as Mario Draghi urges eurozone countries to implement changes to the EFSF. Yesterday, the euro struggled quite a bit after making some small gains. Today, though, the euro seems to be on footing that is a little more […]
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November 182011
Small Relief for Swiss Franc
The Swiss franc had a small relief today, rising after four consecutive sessions of losses, but it’s unlikely that the currency could profit from worries about Europe. The franc was falling for four straight days against the dollar and the yen, touching yesterday the lowest level since October 10. The movement against the euro was sideways this week, but today the Swiss currency also rose a little, following the drop […]
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November 182011
Pound Remains Week as Confidence Reaches Record Low
The Great Britain strengthened a little yesterday as the retail sales rose last month, but the currency hasn’t been able to retain its upward momentum and currently moves without a clear direction. The volume of the UK retail sales increased 0.6 percent in October from September, following the 0.5 percent increase in the preceding month. That’s much better than market expectations of a 0.2 percent drop. The value of the sales rose 0.7 percent. The report […]
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