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Day: January 12, 2012
January 122012
Pound Drops on Easing Speculations, BoE Keeps Policy Unchanged
The Great Britain pound fluctuated against the US dollar and slumped versus the euro today on speculations that the UK central bank will boosts its asset purchase program. The bank left the program and its main interest rates unchanged today. The Bank of England decided to keep its official Bank Rate unchanged at 0.5 percent and maintained the asset purchase facility at £275 billion. Such move was predicted by analysts, but that […]
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January 122012
Aussie Struggles Higher against US Dollar
Aussie is struggling higher against the US dollar today, working to regain some of the losses due to the latest Chinese inflation report. Aussie is running into some trouble, though, as Forex traders move between risk appetite and risk aversion. Conflicting signals are the order of the day. Australian dollar is heavily influenced by China, one of its major trading partners. The announcement that Chinese inflation was higher than […]
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January 122012
Euro Jumps as ECB Sees Stabilization
The euro climbed today, erasing its yesterday’s losses versus the US dollar and the Japanese yen, after the European Central Bank left the main interest rate unchanged and ECB President said he sees signs that the European economy is stabilizing. Europe’s central bank kept its minimum bid rate at 1.0 percent as was expected by economists. Mario Draghi, President of the ECB, said at the press-conference after the decision: As expected, ongoing […]
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January 122012
US Dollar Falls as Libor Drops
US dollar is lower across the board this morning as the Libor falls for borrowing dollars and euros. The London interbank market also saw a narrowing in the spread of three-month dollar Libor and overnight index swaps. However, the latest US jobs data might change things; the US dollar is only slightly lower and could easily gain strength if risk aversion rises. Greenback is mostly lower today, dropping against […]
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January 122012
EUR/USD Climbs as ECB President Sees Signs of Stability
EUR/USD jumped to the highest level this week today after European Central Bank kept its main interest rate unchanged at 1.0% (event A on the chart) and ECB President Mario Draghi said he sees signs that European economy is stabilizing (event B on the chart). Most of today’s reports from the United States were worse than predicted, adding to the weakness of the dollar. Seasonally adjusted retail sales rose 0.1% […]
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January 122012
NZD Gains as Chinese Inflation Slows
The New Zealand dollar gained after China’s inflation decelerated, spurring speculation that China will stimulate the slowing economic growth, boosting prospects for New Zealand exports. China’s consumer prices rose 4.0 percent in December, demonstrating the slowest rate of growth since September 2010, following the 4.2 percent increase in November. The report led to talks that China may ease its tight policy. The People’s Bank of China reduced […]
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