February 10, 2012

February 10
2012

Chile’s Finance Minister Worried About Strength of Peso

The Chilean peso rose today despite the negative influence that the deadlock in the talks about Greek bailout had on the currency markets. The peso may weaken in the future as Chile’s Finance Minister voiced concerns about impact of the strong currency on the nation’s economy. The peso has gained 6.2 percent in the last month. Chileâs fruit producersâ federation asked the nation’s central bank to rein gains of the currency. Analysts said that the current exchange rate […]

February 10
2012

CAD Drops as Greek Story Takes Troublesome Turn

The Canadian dollar dropped today against the greenback and the Japanese yen, but rose versus the euro, as Greece won’t receive rescue until nation’s leaders would accept deeper budget cuts demanded by other members of the European Union. Just recently it looked like the current part of the Greek story is nearing to a positive end as the country was going to receive the next portion of bailout. But now events took a nasty turn […]

February 10
2012

Unrest in Greece Sends Euro Lower

Unrest in Greece and uncertainty about a Greek bailout deal are weighing on the euro today. Euro is lower as concerns about an incomplete Greek debt deal rise. Additionally, continued strikes in Greece, and general unrest in the country, are adding to worries that the Greek parliament won’t vote to accept new measures stipulated by Eurogroup leaders. It is little surprise, then, that euro is falling against the US dollar. Eurogroup […]

February 10
2012

US Dollar Gains as Greece Jitters Re-Emerge

Earlier this week, many figured that the situation in Greece was pretty much sorted. However, it appears that this isn’t the case. With concerns rising about Greece yet again, the US dollar is gaining as risk aversion rises and Forex traders look for safe haven. More stipulations for Greece to meet in order to receive ECB bailout funds have been added, and Greek leaders are once again […]

February 10
2012

Pound Goes Higher as PPI Grows

The Great Britain pound rose today as macroeconomic data showed that both input and output Producer Price Index rose in January more than was predicted by analysts. Both input and output PPI increased 0.5 percent in January. That’s a good result compared to forecast 0.4 percent for input and 0.1 percent for output. The data looks even better considering the output PPI fell 0.2 percent, while the input PPI dropped […]

February 10
2012

Lira Falls as Bailout for Greece Postponed

The Turkish lira fell today as demand for riskier currencies with higher yield was deterred after the European Union held back the next portion of bailout for Greece. EU leaders, who were frustrated by political infightings in Greece, postponed the planned â¬130 billion rescue for the indebted country until the proposed austerity measure would be implemented. The lira is still up 7.2 percent versus the dollar this year. The gains were […]

February 10
2012

EUR/USD Slips as Greece Doesn’t Receive Rescue

EUR/USD was dropping today virtually without pause, a trend that started yesterday’s evening. The major news today was a denial of the new portion of bailout for Greece until Greek leaders would agree on deeper budget cuts. Forex market roiled on the news as it looked like the next round of rescue was almost a done deal. Data from the United States was a mixed bag today as the drop of consumer sentiment was […]

February 10
2012

Aussie Declines After RBA Releases Monetary Policy Statement

The Australian dollar fell today after the Reserve Bank of Australia released its Monetary Policy Statement, reducing its growth forecast for this year and indicating that it’s ready to ease monetary policy. The Australian central bank said in its statement: Largely reflecting developments in Europe, official forecasts for global growth have been revised lower, with growth in the world economy now expected to be below trend in 2012, but […]

Day: February 10, 2012