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Day: December 22, 2011
December 222011
Rupee Falls Despite Help from RBI
The Indian rupee weakened today on the speculation that the currency will continue its awful performance in the next year even as the nation’s central bank has taken steps to bolster the Indian currency. The rupee was the worst performer among the Asian currencies and the currencies of the BRIC nations this year. India’s currency reached the record low of 54.305 per dollar on December 15. The weakness of the rupee prompted the Reserve Bank of India to act in order to support […]
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December 222011
Loonie Rallies as US Economy Shows Signs of Recovery
The Canadian dollar advanced for the third day against the US currency and for the fourth straight session versus the euro and the Japanese yen as the signs of the economic recovery in the United States eased the pessimism caused by the problems in Europe. The Conference Board leading indicators rose 0.5 percent in November, more than was predicted by analysts. The US gross domestic product expanded 1.8 percent in the third quarter. That’s less than the figure market participants hoped for and that […]
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December 222011
Data Helps High Beta Currencies; US Dollar Index Drops
Even with the disappointing GDP data coming out of the United States, there is still plenty that some Forex traders are excited about. The US dollar index is lower as risk appetite makes its appearance, and as the need for safe haven diminishes. Jobless claims in the United States dropped to 364,000, instead of rising as expected. The news is providing hope that the US economy might be ready to begin recovering […]
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December 222011
Japanese Yen Lower as Cautious Optimism Makes Appearance
Japanese yen is lower today, heading lower as cautious optimism makes an appearance on the Forex market. Economic data in the United States came in better than expected, and that means the yen is not being used as a safe haven. Earlier, Japan reported that the forecasts for fiscal 2011 and 2012 had dropped. Japan expects weak economic forecasts, and a lower GDP. This isn’t very surprising, since the tsunami in March did […]
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December 222011
Pound Climbs on GDP & Business Investment
The Great Britain pound advanced today after the economic reports showed that the nation’s economy grew and the business investment expanded last quarter. The gains were limited as the trade balance and current account deficits widened. The UK gross domestic product expanded 0.6 percent in the third quarter, following the 0.1 percent growth in the second quarter. The business investment rose 0.3 percent in Q3 from Q2. Britain’s current account deficit reached […]
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December 222011
Swedish Krona Gains After Reaching Weekly Record
The Swedish Krona gained today after touching the highest level in a week against the US dollar yesterday as the speculation that the US economy is recovering returned risk appetite to the Forex market to some degree. Analysts predict that today’s economic data will show that the US economy grew in the third quarter and the consumer confidence improved this month. The Standard & Poorâs 500 Index futures rose 0.3 percent today. […]
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December 222011
EUR/USD Drops on Positive Developments in USA
EUR/USD spiked upwardly today, but retreated as the positive fundamental reports from the United States increased attractiveness of the dollar. The decreasing unemployment claims and the improving consumer sentiment confirm that the US economy recovers. The leading indicators were also positive and the economic growth accelerated, even though with slower pace than was previously estimated. Initial jobless claims were at 364k (seasonally adjusted ) in the week ending December 17, […]
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December 222011
Swiss Government Considers Further Measures to Weaken Franc
The Swiss franc declined after the government signaled that it considers measures to further weaken the currency as its excessive strength continues to hurt the nation’s exporters. Finance Minister Eveline Widmer-Schlumpf signaled that the government considers taking steps for depreciating the franc. The minister said: If the situation deteriorated further in the foreign- exchange markets, we would have the opportunity to take certain accompanying measures. Among the considered measures were restrictions and levy […]
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December 222011
Canadian Dollar Gains as Retail Sales & Oil Prices Rise
The Canadian dollar advanced as prices for crude oil rallied and the report showed that the Canadian retail sales grew in October. The currency is under pressure as the positive sentiment disappeared from the Forex market. The Canadian retail sales advanced 1.0 percent in October for the third consecutive month, following the September increase at the same rate. The forecast value was only 0.4 percent. The core sale advanced 0.7 percent. Crude oil gained 1.8 […]
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