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Day: January 24, 2012
January 242012
US Dollar Mixed as Traders Look for Direction
Forex traders are looking for a little direction today, and, as a result, the US dollar is mixed. Greenback is higher against the euro, thanks to fresh concerns about the Greek debt situation, but lower against the Great Britain pound. With Fed heading into a two-day meeting, many are waiting to see what policy announcements will be made. The members of the Federal Open Market Committee of the Federal Reserve are […]
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January 242012
Euro Lower as Greece Causes Trouble — Again
Greece faded from the spotlight for a little while, but the erstwhile country is back on center stage as debt talks once again look to be on the verge of collapse. As a result of uncertainty in Greece, and due to other issues in the eurozone, it is little surprise that the euro’s recent rally has lost momentum. Euro is lower today as risk aversion takes the place of yesterday’s risk appetite. Concerns about Greece are intensifying […]
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January 242012
Waning Optimism on Forex Market Weakens Rand
The South African rand fell today as talks among Greece and private bondholders no longer cause optimism among investors, but rather make them concerned. Worsening market sentiment has a negative impact on assets of emerging economies. Talks among Greece and creditors may end in a stalemate as bondholders demand 4 percent yield, while the country strives for less than 3.5 percent interest rates. The discussion let economists believe […]
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January 242012
Yen Goes Down as European Manufacturing & Services Improve
The Japanese yen declined today after positive data about European manufacturing and service industries reduced demand for safety of Japan’s currency. The flash eurozone manufacturing PMI rose from 46.9 to 48.7 and the flash eurozone services PMI advanced from 48.8 to 50.5 in January from December. German manufacturing and services, as well as French services, also expanded, while French manufacturing declined. Losses of the yen versus the euro were limited as a disagreement […]
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January 242012
EUR/USD Down on Greek Discussion Stalemate
EUR/USD was down today as talks about reducing Greek debt ended in a stalemate. Private creditors demand 4 percent interest rates, while Greece asked for less than 3 percent. The negative outcome of the discussion may result in a new wave of risk aversion on the Forex market. US data again was positive for the dollar as the housing market continued to improve and manufacturing expanded more than was previously estimated. Richmond Fed […]
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January 242012
Indian Rupee Rises. Gains Unsustainable?
The Indian rupee strengthened today after the Indian central bank kept its key interest rate unchanged in an effort to support the nation’s economy and the currency, but outlook for the rupee remained bearish. The Reserve Bank of India maintained its benchmark repo rate at 8.5 percent, a move anticipated by market analysts. The cash reserve ratio for banks was reduced from 6.0 per cent to 5.5 percent. Economists considered this decision as monetary […]
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January 242012
Pound Reverses Gains
The Great Britain pound reversed its yesterday’s upward trend against the US dollar and the Japanese yen today and stayed flat versus the euro after tumbling on the last trading session as analysts expect a report later this week to show that the UK economy is slowing. Experts predict that data would show UK gross domestic product fell 0.1 percent in the fourth quarter after rising 0.6 percent in the third […]
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