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Day: February 14, 2012
February 142012
Yen Sinks as Bank of Japan Expands Asset Purchases
The Japanese yen slumped to the lowest level since November against the US dollar and also fell against some other majors after the Bank of Japan unexpectedly increased its asset purchase program. The Bank of Japan unexpectedly expanded its asset purchase program by 10 trillion yen and set its inflation target to 1 percent. That’s just another attempt by the central bank to counter a deflation and support the nation’s economy. Earlier the yen […]
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February 142012
Loonie Pares Some of Its Losses Against the Greenback
Canadian dollar dropped earlier in trading as the news about US retail data caused a general pull back for riskier currencies. Since the United States is a major trading partner, the news about retail sales was a bit of a blow for the loonie. However, some of the losses have been pared as oil prices top $101 a barrel and as the ZEW shows hope for the eurozone economy. Loonie is struggling back up toward parity with […]
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February 142012
US Dollar Gains as Uncertainty Sets In
A bit of uncertainty has appeared in the financial markets, and that is helping the US dollar gain today against other currencies. Even though the spread between the three-month dollar Libor and overnight index swaps narrowed, there are still indications of stress in the markets. Uncertainty about the eurozone remains, and concerns about US retail sales are weighing on high beta currencies. US dollar is higher as Forex traders look for a little […]
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February 142012
GBP/USD Falls as CPI Slows, Moody’s Says Outlook is Negative
The Great Britain pound fell against the US dollar, though held versus the Japanese yen, after inflation slowed last month and Moody’s said that the nation’s credit rating is in danger of downgrade. Britain’s annual inflation was 3.6 percent in January, matching forecasts, while it was 4.2 percent in the previous month. Moody’s Investor Service left the UK lending grade unchanged yesterday, but changed outlook to negative. […]
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February 142012
Euro Rebound After Italy Sells Debt
The euro rebounded today after Italy sold maximum amount of its bonds on todayâs auction, easing worries about the credit crisis in the European Union that reemerged after Moody’s cut credit ratings of several European countries. Italy sold â¬4 billion of securities that mature in 2014, reaching its target. Yield dropped from 4.83 percent on the previous auction to 3.41 percent. The euro was supported by the positive outcome of the auction, […]
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February 142012
EUR/USD Resumes Slide as Moody’s Downgrades European Countries
EUR/USD was falling today after Moody’s Investor Service reduced credit ratings of several European countries yesterday. The currency pair advanced briefly after Italy and Spain successfully performed bond auctions, but quickly resumed its decline. US data was rather neutral today, but still indicated that the US economy is recovering. US retail sales rose 0.4% in January. That’s two times below […]
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February 142012
Yen Gains After Moody’s Downgrades European Countries
The Japanese yen gained today after Moody’s Investor Service downgraded credit ratings of several countries, including Italy, Spain and Portugal. This action hurt market sentiment that was positive after the good news from Greece. Moody’s cut ratings of several European countries yesterday. The rating agency reduced Spain to A3 from A1, Italy to A3 from A2 and Portugal to Ba3 from Ba2. Moody’s also changed […]
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