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Day: December 28, 2011
December 282011
CAD Falls vs. USD & JPY, Rises vs. EUR
The Canadian dollar fell today against the US dollar and the Japanese yen, but advanced versus the euro, as the European debt crisis continues to eat away confidence of Forex market participants and makes them to seek refuge. Concerns that the crisis will hurt the eurozone economy intensified after the European Central Bank said that the lending to European banks surged to the record. Lending to eurozone banks increased â¬214 billion to â¬879 billion in the week […]
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December 282011
US Dollar Index Rises on ECB Balance Sheet
US dollar index is rising as Forex traders look for a little safety. The news that the European Central Bank balance sheet is soaring, with new bank lending jumping, has many searching for a little stability. And that means that the US dollar has the upper hand against high beta currencies right now. Forex traders and investors are feeling risk averse right now. Even though consumer […]
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December 282011
Euro Falls on Risk Aversion
Euro is losing ground, dropping below the 1.30 mark against the US dollar, as risk aversion returns to the markets. Forex traders are concerned about what’s next in the eurozone drama. A recent auction in Italy, of six-month bond issues, went well, but some are worried about what happens at Thursday’s longer-term Italian auction. On top of that, there is still skepticism about what’s next for the eurozone. While new […]
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December 282011
Zloty Gains as Traders Expect Intervention from Central Bank
The Polish zloty advanced today, gaining for the third straight trading session, as Forex market participants expect the nation’s central bank to take actions to support the depreciating currency. The weakening currency increased the zloty value of the country’s debt. Poland’s public debt increased to 52.8 percent of gross domestic product in 2010. That’s a dangerous level as an increase above 55 percent would result in compulsory spending cuts and tax increases under public-finance laws. […]
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December 282011
Yen Gains as Europe Still Troubles Forex Speculators
The Japanese yen gained today as worries about the European sovereign debt crisis still plague the Forex market, while Asian stocks fell, boosting demand for safer assets. Europe comes to the year-end without any of its problem resolved, leaving traders in sour mood and fearful of the futures. Analysts predict that tomorrow’s report will show that Italian business confidence dropped to the lowest level in almost two years. The MSCI Asia […]
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