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Day: February 1, 2012
February 12012
Japanese Yen Higher Against the US Dollar
Risk appetite is coming to the Forex market, sending high beta currencies higher. And, normally, this would mean that the US dollar would also be higher against the Japanese yen. Today, though, the yen is higher against the greenback. Weaker than expected US data is sending the dollar lower, and the yen is near three-month highs against the greenback. Japanese yen is gaining as exports lead […]
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February 12012
US Dollar Drops as Optimism Returns to Markets
US dollar is lower across the board right now, dropping as optimism returns to the market in the form of better economic news. The news is especially encouraging in Europe, where eurozone manufacturing has expanded. Even in the United States, the situation isn’t so bad, with ADP estimating private payrolls up by 170,000. All of the good news in other countries means that investors and Forex traders alike are ready for riskier assets […]
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February 12012
Euro Rebound as Eurozone Manufacturing Expands
The euro rose today, erasing its previous losses, after a report showed that eurozone manufacturing improved this month, easing concerns about the negative impact of the European financial crisis on the region’s economy. Final eurozone PMI figure was 48.8 in January, near the flash estimate of 48.7 and a solid increase from the December reading of 46.9. Germany with its robust growth was the main contributor to the increase, followed by Australia and Netherlands […]
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February 12012
Won Drops vs. Euro on Threat of Economic Slowdown in Asia
The South Korean won fell against the euro today on concerns that problems in Europe crippled economic growth of Asian nations. The currency was also down versus the US dollar, but later rebounded. South Korean exports unexpectedly fell 6.6 percent on year-over-year basis in January, posting the first decline in two years. Annual consumer price inflation was at 3.4 percent, the lowest rate since January 2011. Other Asian […]
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February 12012
EUR/USD Higher on Eurozone PMI
EUR/USD erased its previous losses today as eurozone manufacturing PMI advanced this month (event A on the chart), suggesting that the situation in Europe isn’t as bad as was thought. US economic data today again was worse than expected, except for the robust growth construction spending. ADP employment report showed an increase by 170k jobs in January from December. That’s below the average forecast of 189k and the December change by 292k (revised […]
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