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Day: January 27, 2012
January 272012
Euro Holding On in Forex Trading
Euro is managing to hold to most gains made earlier today, thanks to a bit of hope out of Greece, and disappointing economic data. However, some of the euro’s early gains have been pared, and risk aversion could overpower the 17-nation currency, and send it lower. The situation is quite volatile right now, with conflicting data. US economic data has been disappointing, with the GDP missing estimates, and jobless claims […]
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January 272012
US Dollar Remains Lower
US dollar remains lower on the Forex market, dropping as economic conditions continue to exert downward pressure. Greenback is lower as the latest news comes in about the GDP, and as Forex traders continue to weigh the latest statements from policymakers in the United States. Today, economic numbers from the fourth quarter of 2011 were released, showing that the economy grew by 2.8%. This news was actually disappointing to analysts because many had predicted […]
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January 272012
Ruble Slows Rally vs. Dollar as Bank Rossii Sells Currency
The Russian ruble slowed its rally against the US dollar today on speculation the nation’s central bank sold the currency. The ruble currently is above the opening price, indicating that it may yet continue its rally. The Bank Rossii usually sells the nation’s currency to keep it in the predetermined range, which is now at 32.20 to 38.20. The Russian currency was rising for nine consecutive sessions and appreciated 3.4 percent against […]
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January 272012
Iraqi Dinar Gains vs. Dollar, Falls Back to Opening
The Iraqi dinar gained against the dollar today, but fell back to the opening level later as tensions between Sunni, Shiâite and Kurdish political groups intensify, adding to the political turmoil and preventing an introduction of the much needed oil law. The oil law should resolve the disagreement between the central government in Baghdad and semi-autonomous Iraqi Kurdistan in the north over Iraqâs crude oil stockpiles. Country’s political blocks agreed on the law back in 2007, but […]
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January 272012
EUR/USD at Highest Since December 13
EUR/USD reached today the highest level since December 13 on rumors that talks about Greek credit swaps are progressing. Today’s data eased concerns about the US economy that were caused by yesterday’s reports. The economy expanded last quarter and consumer sentiment improved this month. GDP rose 2.8% in the fourth quarter according to the advance estimate. Growth was significantly bigger than in the third quarter (1.8%), but […]
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January 272012
CAD Reaches Parity vs. USD, Retreats
The Canadian dollar reached parity with its US peer yesterday, but retreated today as negative macroeconomic data from the United States decreased willingness of Forex traders to buy riskier currencies. The pledge of the US Federal Reserve to keep its interest rates exceptionally low till at least 2014 was supporting commodities yesterday. Commodities make up about a half of Canada’s export revenue. The Thomson Reuters/Jefferies CRB Index of commodities […]
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January 272012
Euro Weakens as Greece Argues with Creditors
The euro erased its yesterday’s gains against the US dollar and was flat today as Greece struggles to reach an agreement with creditors on a debt reduction. The currency fell versus the Japanese yen yesterday and continued to fall today. The earlier discussion between Greece and its creditors ended in a stalemate. Some officials said that talks are progressing better this time, but investors are cautious to be overly optimistic about an outcome […]
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