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Day: November 24, 2011
November 242011
Merkel, Sarkozy and Monti Comments Sink Euro
Euro was a little higher earlier as some hope for joint euro bonds was floated. However, a press conference with three European leaders today scuttled that hope and sent the euro lower in Forex trading. Angela Merkel, Nicolas Sarkozy, and Mario Monti held a press conference today, and made it clear that their countries weren’t going to pressure the ECB into doing something to alleviate the sovereign debt crisis. […]
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November 242011
UK Pound Down Against Dollar, But Strengthening Against Euro
Great Britain pound may be down against the US dollar today, and down against the Japanese yen, but it is up against the euro. Sterling is lower against the dollar and yen on risk aversion, but, in terms of European currencies, it appears to be taking the safe haven designation. As Europe’s troubles cause more unease amongst Forex traders, and as concerns about what’s next for Asia (especially China) weigh […]
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November 242011
Brazilian Real Drops on China’s Manufacturing
The Brazilian real fell today, while yesterday it was at the seven-week low, as the report showed that China’s manufacturing is slowing. HSBC Flash China Manufacturing PMI fell to 48.0 in November from 51.0 in October. The reading below 50.0 indicates a decline of the industry. The surging borrowing costs of the European nations add to the reasons that deter investors from buying the riskier currencies, like the real. Brazil’s economy feels the impact of the outside […]
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November 242011
Japanese Yen Gains as Eurozone Troubles Continue
Japanese yen is gaining against the euro and the pound as eurozone troubles continue. Additionally, the yen is getting a boost as Asian companies cut their earnings outlooks. As sentiment turns negative, Forex traders — and others — look for stability and safe haven. All bonds in the eurozone seem to be taking a hit right now, no matter what country it is. The latest German bund auction was considered a failure, […]
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