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Day: January 17, 2012
January 172012
US Dollar Falls after Upbeat News
US dollar is falling today, thanks to upbeat news out of China and Europe. With risk appetite on the rise, there is little demand for the safety and stability of the US dollar. Forex traders are, instead, turning to higher yielding currencies. US dollar is dropping as confidence makes an appearance in the markets. Germany’s ZEW data surprised quite a bit to the upside. On top of that, borrowing costs dropped in Spain and Greece. This good […]
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January 172012
Mexican Peso Climbs to Monthly High
The Mexican peso reached today the highest level in more than a month as Forex market participants ignored rating downgrades by Standard & Poor’s, supporting demand for currencies of emerging economies. S&P performed downgrades for credit ratings of several European countries on January 13, including a two-notch cut for Spain. Despite the negative news, yield on Spanish debt dropped to average 2.049 percent at today’s auction, compared with 4.05 percent on December 13. […]
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January 172012
Brazilian Real Goes Higher as GDP in China Slows
The Brazilian real climbed today after a report about slowing economic growth in China lead to speculation that the Asian nation will stimulate its economy, increasing attractiveness of commodity currencies. China’s gross domestic product growth slowed from 9.1 percent in third quarter of 2011 to 8.9 percent in the fourth quarter. That caused market experts to speculate about possible stimulating measures to support growth of the economy. Potential stimulus is […]
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January 172012
Euro Gains as Borrowing Costs Drop
Euro is gaining in Forex trading today, with a measure of optimism returning as Greek and Spanish borrowing costs drop. Also helping the euro is the good news coming out of Germany, with a better than expected ZEW. After selling off so much recently, it appears that the euro is due boost. Forex traders appear ready for risk, with better news out of the eurozone, as well as improved Chinese […]
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