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Day: December 1, 2011
December 12011
Pound Heads Lower Against US Dollar, Euro
Great Britain pound is lower today, heading down against most major currencies, including the euro and the US dollar. Pound is struggling on recently banking center developments, as well as demand for other European assets. A recent wholesale credit rating downgrade of a number banks in the US and Europe is weighing on British markets, and on the pound. Britain is a world banking leader, and heavily exposed to banking risk. On top of that, shaky economic […]
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December 12011
Japanese Yen Lower Against Most Other Majors
The Japanese yen is lower against most of its major counterparts today, dropping as forex traders consider increased liquidity in global markets and successful bond auctions in Europe. With forex traders concentrating on what’s happening in Europe, and hopeful about what’s next, the yen remains mostly lower today, even as equities struggle. Yen is down against the euro as successful bond auction in France and Spain provide some help for the 17-nation […]
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December 12011
Canadian Dollar Extends Rally on Employment Outlook
The Canadian dollar extended its rally today as the forecasters promised that the tomorrow’s reports about the employment in Canada and the United States will show positive developments of the labor markets. The Canadian employment is expected to show a growth by 18,100 jobs in November, following the drop by 54,000 in October. Analysts estimated before the release of the non-farm payrolls tomorrow that the US employment increased by 120,000 in November after rising 80,000 in October. The unemployment rate in both […]
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December 12011
Spain & France Sell Debt, Euro Advances
The euro advanced today, extending the yesterday’s rally, after Spain and France auctioned debt and the result of the auction was considered a success. Banco de España reported that it sold â¬3.75 billion of bonds, achieving its maximum target. The average yield on the five-year notes rose to 5.544 percent from 4.848 percent at the auction on November 3. France sold â¬1.57 billion of bonds. The average yield on the 10-year notes fell to 3.18 percent […]
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December 12011
Second Day of Gains for EUR/USD
EUR/USD extended its rally after the yesterday’s surge on the announcement of the joint action of the major central banks to make dollars cheaper in swaps among banks. Today, Spain achieved the maximum target in the debt auction, while the yield on the French bonds fell. The data from the United States was positive for the most part, but the rising unemployment claims made traders concerned. The nonfarm payrolls will be released tomorrow. Initial jobless claims […]
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December 12011
Indian Central Bank Plans to Stop Rate Hikes, Rupee Isn’t Bothered
The Indian rupee rose today despite the speculation that the slowing economic growth will cause India’s central bank to pause its interest rate hikes. The government report showed that India’s gross domestic product grew 6.9 percent in the third quarter of this year, demonstrating the slowest rate of growth since the second quarter of 2009. The inflation was above 9 percent in October for the 11th month in a row, being almost two […]
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December 12011
Aussie Falls After Yesterday’s Surge
The Australian dollar surged yesterday as most other currencies, but today it relinquished its gains as the domestic fundamentals hurt the prospects of the currency. The Aussie (as the Australian currency is nicknamed) rallied yesterday after the announcement that the central banks of the developed nations agreed to make the dollar cheaper in swaps among banks. The cheaper greenback made all other currencies rally. Commodities priced in dollars also jumped, adding to the rally of the commodity-related currencies. […]
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