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Day: February 13, 2012
February 132012
UK Pound Gains on Economic Forecast
UK pound is gaining against the US dollar and the Japanese yen today as an economic forecast expects growth to pick up in 2012. The Confederation of British Industry believes that Great Britain will avoid a technical recession this year, and that things will pick up. As a result, UK pound is heading higher against low beta currencies. Also helping the pound in Forex trading is the general risk appetite today. […]
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February 132012
US Dollar Falls on Greek Vote
US dollar is lower as the Greek parliament votes to accept austerity measures requested by Eurogroup leaders as a condition for receiving bailout funds. US dollar weakness is a product of renewed optimism in Forex traders, and expectations for a stronger euro. Risk appetite is back on as Forex traders find new optimism regarding Greece. Lucas Papademos won parliamentary support for the tougher austerity measures the Eurogroup leaders wanted, and that is providing support […]
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February 132012
Aussie Advances on Growing Number of Home Loans
The Australian dollar gained today after a report showed that the number of home loans in Australia last month rose more than was predicted, while positive news from Greece also bolstered the currency. The number of commitments for owner occupied housing finance rose 2.3 percent on a seasonally adjusted basis in December from November. The median forecast was 1.9 percent, near the November figure of 1.8 percent. The agreement of Greece to take […]
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February 132012
The End of Euro — Poll
Talks about the eurozone breakup and the consequent abolition of the single European currency have first started back in 1998 when the eurozone was formally formed. Since late 2009, the Greek debt crisis spurred new discussions about the ability of the European monetary union to survive. For many Forex traders, the eurozone’s failure seems imminent. According to them, the probable withdrawal of Greece will be a symbolical event that will trigger a real disaster […]
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February 132012
Euro Recovers as Greece Accepts Austerity
The euro rose a little against the dollar and the yen today after the Greek parliament agreed on the austerity measures required to get the bailout, easing tensions around Greece and its debt problems. Greek Prime Minister Lucas Papademos won vote in the parliament for austerity that the troika demands from the country. Sacha Tihanyi, a senior currency strategist at Scotiabank, said about the vote: It certainly was helpful and positive for the currency. It probably induced […]
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