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Day: January 4, 2012
January 42012
US Dollar Gains as Risk Aversion Returns
Yesterday’s enthusiasm has largely disappeared and risk aversion is back in fashion on the Forex market. US dollar is gaining against high beta currencies today as attention turns back to the troubles in Europe. US dollar is being sought as a safe haven today as Forex traders prefer the greenback to high yielding counterparts. The euro is, of course, lower due to bank troubles in the region. ECB is lending to banks in high amounts, […]
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January 42012
Euro Retreats as Inflation Slows
The euro pared its yesterday’s gains today after the preliminary report showed that inflation in the eurozone slowed and the outcome of the German debt auction wasn’t very good. Eurozone annual inflation is expected to be 2.8 percent in December 2011 according to the flash estimate issued by Eurostat (the statistical office of the European Union). Demand for German 10-year bonds was lower than the average for the last five years. Economists are concerned that […]
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January 42012
EUR/USD Back Below 1.30
Euro is lower again today, dropping as concerns about what’s next in the European banking saga weigh on investors and Forex traders. EUR/USD is back below the 1.30 level, falling as concerns about the eurozone dominate. Bank lending from the ECB continues to be the story in Europe. Concerns about UniCredit SA are underscoring the capital needs of many eurozone banks. As a result, there are worries that a banking crisis is […]
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January 42012
Forint Drops to Almost Three-Year Low
The Hungarian forint sank today to the lowest level in almost three years on concerns that Hungary won’t receive a bailout from the European Union and the International Monetary Fund in the near future. Some economists predict that Hungary would receive rescue only in the second half of 2012, if not later. The country desperately needs help as it’s the most indebted economy of the Eastern EU. Earlier, Standard & Poor’s and Moody’s Investor Service […]
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January 42012
Rand Advances as Forex Traders Express Optimism
The South African rand advanced yesterday on the positive mood among Forex traders, though the currency lost part of its gains later. The rand held steady today. The optimism was felt across all markets yesterday and currencies of emerging economies benefited from it. The MSCI Emerging Markets Index climbed 1.8 percent. South Africaâs benchmark stock index (JALSH) reached the highest level in more than a month. The Standard & […]
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