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Day: January 19, 2012
January 192012
US Mostly Lower as Risk Appetite Makes an Appearance
US dollar is mostly lower today, especially against high beta currencies. Risk appetite is making an appearance, and Forex traders and others are looking for higher yields. There is some optimism about the US economic recovery, as well as hopes for an improved global economic situation. In the United States, the latest unemployment claims data has reported that jobless claims dropped by 50,000. The news is welcome to those looking […]
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January 192012
Euro Breaks through 1.29 Level
Euro is breaking higher today, moving through the 1.29 level against the US dollar. Good news regarding debt auctions in Europe, plus good labor market news in the United States, has Forex traders looking for higher yields. Risk appetite is making an appearance as optimism returns to the markets. In Europe, French borrowing costs dropped, and Spain sold more bonds than expected. On top of that, jobless claims in the United […]
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January 192012
Malaysian Ringgit Goes Higher Ahead of European Debt Auctions
The Malaysian ringgit rose today as investment environment looked good for currencies of emerging markets amid growth of the US economy and hopes for Europe. Spain sold more than its maximum target at today’s debt auction as demand for government bonds was far higher than the amount offered. French borrowing costs dropped. China eased capital requirements for lenders in an attempt to stimulate its economy. A rally of stocks and commodities followed, adding to positive […]
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January 192012
EUR/USD Higher on European Debt Auctions
EUR/USD reached today the highest price since January 4 as Spain sold more government bonds than its maximum target at today’s auction, while French borrowing costs fell. It was a bit disappointing day for the United States as reports showed that economic growth and housing sector stalled. On the other hand, jobless claim fell more than was expected. Housing starts declined to 657k in December (seasonally adjusted) […]
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January 192012
Rand Weakens as No Change to Monetary Policy Expected, Rebounds
The South African rand was weaker today as analysts speculated that the nation’s central bank will keep interest rates unchanged at today’s monetary policy meeting. The rand rebounded currently. Most economists believe that the South African Reserve Bank will keep its main interest rate at 5.5 percent for a seventh consecutive meeting today. Bank’s Governor Gill Marcus was keeping rates steady last year as threat […]
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January 192012
Australian Employment Deteriorates, Aussie Down
The Australian dollar dropped today after the report showed an unexpected decline of employment, making traders speculate about a possible interest rate cut by the Australian central bank. Market participants expected an increase of Australian employment by 10,200. Alas, such hopes haven’t materialized. The Australian job market lost 29,300 in December, following the November decrease by 7,500 jobs. The unemployment rate in November was revised down by 0.1 percentage point to 5.2 percent […]
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January 192012
Negative Domestic Data Hurts New Zealand Dollar
The New Zealand dollar retreated today as virtually all macroeconomic reports from New Zealand were negative this week, making the currency less attractive for Forex traders. The New Zealand Institute of Economic Research Quarterly Survey of Business Opinion showed that economic activity slowed in the last three months of 2011. The Real Estate Institute of New Zealand House Price Index declined 0.1 percent in December from a month ago […]
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