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Day: January 26, 2012
January 262012
UK Pound Gains Against US Dollar, But Drops Against Euro
UK pound is higher against the US dollar today, gaining as other currencies, in general, are preferred to the greenback. However, the UK pound is down against the euro, as well as down against commodity currencies today. Against the US dollar, the UK pound is heading higher, supported by a general tendency toward risk appetite. Stocks are higher, and that provides support for the sterling, and the US dollar is generally out of favor […]
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January 262012
Australian Dollar Gains on Risk Appetite
Australian dollar is gaining almost across the board today as risk appetite returns the Forex market. Some are interested in the idea that the news Federal Reserve won’t raise interest rates until 2014, and others assume that the Fed will increase bond purchases in the hopes that it can further stimulate the US economy, especially the labor market. Also helping the Aussie: News that Russia will start using […]
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January 262012
EUR/USD Rallies to New Record This Month
EUR/USD was at the highest since December 21 as yesterday’s pledge of the Federal Reserve to keep interest rates low at a prolonged time continued to push the dollar lower. Macroeconomic reports weren’t helping the US currency as housing and jobs data was negative, while leading indicators rose less than expected. Initial jobless claims (seasonally adjusted) increased from 356k to 377k in the week ending January 21, compared to the median forecast of 371k. […]
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January 262012
CAD Jumps to Highest Since November as Fed Keeps Rates Low
The Canadian dollar rallied yesterday and reached the highest since November today versus the US dollar and the Japanese yen as the Federal Reserve plans to keep interest rates exceptionally low till at least late 2014. The Federal Market Open Committee kept its main federal fund rate near zero yesterday. What’s more important, it extended its pledge to keep rates low till late 2014 (previously the FOMC pledged […]
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