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Day: January 9, 2012
January 92012
Franc Gains After Hildebrand Resigns
The Swiss franc climbed today after Philipp Hildebrand, Chairman of the Swiss Nation Bank, resigned from his post after currency trades of his wife compromised his credibility as a central bank’s chief. Transactions of Hildebrand‘s wife on the foreign-currency exchange market led public to believe that Chairman’s family used an inside information for profit. Hildebrand said he hasn’t known about the activity of his wife. He disclosed the private financial […]
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January 92012
Pound Retreats Against Euro, Higher vs. Dollar & Yen
The Great Britain pound ticked down against the euro after the leaders of Germany and France have met today in order to find a way out of the dangerous situation with the European debt. The UK currency was higher versus the US dollar and the Japanese yen. German Chancellor Angela Merkel and French President Nicolas Sarkozy were meeting today in Berlin to discuss steps to improve the financial situation in the European Union and to foster better fiscal consolidation […]
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January 92012
US Dollar Edges Lower Against Other Majors
US dollar is edging lower against other major currencies today. Losses aren’t too big, though, since there is still a great deal of uncertainty in the markets right now. A meeting between Nicolas Sarkozy and Angela Merkel is said to have made “progress” toward a euro agreement, but no major announcements were made. Meanwhile, better news it the United States lately has been giving […]
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January 92012
Canadian Dollar Mixed as Markets Look for Direction
Canadian dollar is mixed on the Forex market today as traders look for direction. On the one hand, there is a little optimism that is helping the loonie gain, especially against the US dollar. However, there are also downward pressures on the Canadian dollar. Indeed, growth has been slowing in Canada, and some of the recent economic news coming out of the country has been a bit disappointing. Additionally, oil prices are lower […]
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January 92012
JPMorgan Boosts Turkish Lira
The Turkish lira gained today, touching the highest level in a month, after JPMorgan Chase & Co. said it prefers the lira to the rand as the Turkish central bank has stronger defense. JPMorgan said: The central bankâs backstop for the lira is stronger than ever while official policy support for the rand remains weak. The trade works best in a defensive risk environment, the main risk to the trade is therefore a significant pickup in risk […]
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January 92012
Euro Rises as Merkel & Sarkozy Meet
The euro rebounded as German Chancellor Angela Merkel and French President Nicolas Sarkozy meet today to discuss measures for rescuing Europe from its troubles. Merkel and Sarkozy meet today in Berlin to discuss additional rules to foster tighter fiscal discipline among the countries of the European Union. Traders aren’t willing to continue the sell-off of the euro before the outcome of the meeting will become clear. There were several economic reports today that added […]
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