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Day: December 16, 2011
December 162011
Loonie Drops as Fitch Spoils Market Sentiment
The Canadian dollar closed below the opening level today as Fitch Ratings came in and knocked down the positive market sentiment by signaling that France’s top credit ranking may be in danger. Fitch maintained top AAA sovereign rating of France, but changed the outlook from stable to negative. The rating agency explained its reasoning: The Negative Outlook is prompted by the heightened risk of contingent liabilities to the French state arising from the worsening […]
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December 162011
US Dollar Mostly Lower in Forex Trading
It looks to be a relatively quiet day in forex trading. Even so, the US dollar is mostly lower in forex trading today — although it isn’t much changed against other major currencies. Conflicting data has confused the situation a bit. On the one hand, there is optimism that the US economy is finally ready to pick things up. Recent labor market data was encouraging, and other […]
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December 162011
Euro Edges Higher in Forex Trading
Euro is edging higher today, holding on to some of its overnight gains, as things slow down in the financial markets ahead of Christmas week. Even though Christmas is still more than a week away, things are already slowing down in a lot of markets. Euro, though, is holding on to earlier gains as Forex traders and other investors ignore the debt issues plaguing the eurozone, and as they shrug off less than stellar […]
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December 162011
Indonesian Rupiah Rises with Other Asian Currencies on Positive Sentiment
The Asian currencies, including the Indonesian rupiah, rose today as the market sentiment was positive after yesterday’s good news from Europe and the United States. The currency was further boosted as Fitch Ratings improved Indonesia’s credit grade. The positive economic data from the USA, particularly the falling jobless claims, returned the positive sentiment and it persisted on the Forex market through today’s session. The MSCI Asia-Pacific Index of stocks rose 0.8 percent […]
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December 162011
Rupee Rebounds from Record Low
The Indian rupee gained today, following yesterday’s drop to the all-time low, as the nation’s central bank stepped in, announcing measures to curb the volatility on the foreign-exchange market. The Reserve Bank of India announced that no company, be it domestic or foreign, may use multiple forward contracts for a single overseas transaction. The central bank also said that it’ll reduce the amount of open positions traders are allowed to maintain overnight. The new […]
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December 162011
Aussie Feels Good as Stream of Bad News Pauses
The Australian dollar advanced today as the good news from Europe and the positive macroeconomic data from the United States helped to brighten mood of traders, who felt tired from the constant stream of bad news. The fundamental indicators showed that the US economy continues to recover and that was good for the Australian dollar. The news from Europe was good as the Spanish bond auction was much better than anticipated and that wasn’t bad […]
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December 162011
Canadian Dollar Rises as Economies of USA & Canada Improve
Canada’s dollar continued to rise today, following yesterday’s advance, on the signs that the economy of the United States is improving, while the economy of Canada itself also shows signs of recovery. The unemployment claims fell from 385,000 to 366,000 last week. The Producer Price Index rose 0.3 percent, while the New York manufacturing index and the Philadelphia Fed Business Outlook Survey showed that manufacturing expanded this month. Canada’s leading […]
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