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Day: December 23, 2011
December 232011
US Economic Growth Benefits Australian Dollar
The Australian dollar gained against the euro and closed higher versus the greenback today as signs that the US economy continues to recover reinforced positive mood on the Forex market and increased appeal of higher-yielding currencies. Durable goods orders rose 3.8 percent in November, following no change in October. The median forecast was 2.2 percent. New home sales increased from 310,000 in October to 315,000 in November, being in line with forecasts. Personal […]
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December 232011
Dollar Erases Losses vs. Euro
The US dollar erased its losses against the euro today after a report showed that France’s GDP increased in the last quarter less than was previously estimated. The greenback rose versus the pound, but dropped against the yen. France’s gross domestic product rose 0.3 percent in the third quarter from the second quarter, according to the National Institute of Statistics and Economic Studies, compared to the previously estimated growth by 0.4 percent. GDP […]
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December 232011
Swiss Franc Lower on Expected Job Cuts
Swiss franc is lower today in Forex trading, dropping as leaders warn that more job cuts are likely on the way in the country. Swiss companies expect to see weaker sales going forward (an outgrowth of the recently strong franc, which puts Swiss companies at an export disadvantage), and the news means that job cuts are likely on the way. Additionally, Swiss financial leaders reiterated their commitment to a weaker franc. Earlier this […]
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December 232011
Euro Vulnerable in Forex Trading
Euro remains vulnerable in Forex trading, thanks to the still-unresolved eurozone debt crisis. The 17-nation currency is flat right now, slightly lower, ahead of the holiday. Trades are winding down, and the euro is still likely to run into trouble against safe haven currencies like the US dollar and the Japanese yen. Indeed, euro is lower against both of those currencies today. Some are disappointed in the euro’s performance, though. […]
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December 232011
Pound Falls with Mortgage Approvals
The Great Britain pound fell against the Japanese yen and erased its gains versus the US dollar today after the report showed that the banks approved less home loans in November than in the month before. British Bankers’ Association reported that the number of the mortgage approvals was 34,700 in November, compared to 35,200 in October. Market analysts were optimistic before the report and hoped for an increase to 36,300. The FTSE 100 Index of stocks added […]
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December 232011
Durable Goods Orders Grow, EUR/USD Falls
EUR/USD erased its previous gains today as the data from the United States continued to be positive, while the future of the European Union is still uncertain. Durable goods orders showed particularly good growth, while the housing market continued to improve. Income and expenditures of the US citizens were smaller that expected, though. Durable goods orders increased 3.8% in November, compared to analysts’ forecast of 2.2%. The October reading was revised […]
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December 232011
Bank Rossii Lowers Main Interest Rate as Inflation Slows
The Bank Rossii (Russia’s central bank) unexpectedly lowered its main interest rate today on the concerns that the inflation decelerates. The Russian ruble is still up against the US dollar despite the news. The Russian central bank lowered its key refinancing rate by 25 basis points to 8.00 percent, effective from December 26. Such move surprised most economists. The Bank of Russia explained in its statement: The said decision […]
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