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Day: November 29, 2011
November 292011
Canada’s Dollar Rallies to Two-Month Record vs. Euro
The positive sentiment is still present on markets, allowing the Canadian dollar to rise, reaching the highest level since September against the euro. The improving outlook for Europe was followed by the favorable news from the United States (the biggest trading partner of Canada). The US consumer confidence index improved from 40.9 in October to 56.0, ending its decline. The good sales during Thanksgiving holiday period were also positive. The positive mood was […]
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November 292011
US Dollar Index Drops on Optimism
The US dollar index is dropping as optimism returns to the Forex market. High beta currencies are gaining as the Italian bond auction restores some equanimity to Forex traders. Earlier, an Italian bond auction was deemed successful, even though yields were high. A great deal of the debt in question was bought, and it turned out to be a bigger success than last week’s German bund auction. As a result, Forex traders […]
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November 292011
Another Day of Gains for Rand?
The South African rand gained today as the positive mood prevailed on the Forex market, but later reversed its trend and currently almost erased its earlier gains. The explanation for such reversal may be the fundamentals that don’t support the positive outlook. South Africa’s economy grew 1.4 percent in the third quarter, less than economists predicted. Citigroup Inc. cut China’s growth estimate for the next year from 8.7 percent […]
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November 292011
Euro Breaks through 1.3400, but Can’t Maintain
Earlier, euro broke through the 1.3400 level against the US dollar. Optimism from the Italian bond auction helped the 17-nation currency, sending it surging. However, euro has been unable to maintain the rally. Instead, EUR/USD has dropped back below the 1.3400 level, and is, in fact, lower than it was at open. The gains made earlier in the session has pretty much been erased. There were some hopes […]
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November 292011
New Zealand Dollar Extends Gains on Optimism
The New Zealand dollar extended its gains today as the positive sentiment continues to reign the Forex market, bolstering the demand for the currencies linked to growth. Italy auctioned its debt today and the results were quite good, at least nothing compared to the disastrous outcome of the German auction. There is the speculation that China is going to shift its focus from slowing the economic growth to stabilizing it near the current level. The Asian stocks […]
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November 292011
EUR/USD Rallies But Can’t Hold Gains
EUR/USD was rising today on the speculation that the European leaders will seek a way out of the crisis. The European finance ministers are meeting today to discuss measures for boosting the bailout fund. The currency pair gave away most of its gains on concerns that the talks won’t be followed by some meaningful actions. The confidence of the US citizens noticeably improved this month, but the housing market was in worse shape than was […]
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November 292011
Swiss Franc Rallies Despite Positive Market Sentiment
The Swiss franc advanced yesterday and kept its gains today even though the market sentiment was favorable to riskier currencies, not safer ones. The week started with positive mood on the Forex market that was favorable to higher-yielding currencies. And it was surprising to see the Swissie rallying with them not only against the safe currencies, but also versus the euro. It’s true that the Swiss currency lost much […]
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