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Day: February 17, 2012
February 172012
Euro Gains on Greek Bailout Hopes
Euro is gaining today, heading higher after a rocky week, thanks to hopes for a Greek bailout. Expectations are that a Greek debt agreement will be reached by Monday. The news has many Forex traders scrambling to enter long positions on the euro against the US dollar and the Japanese yen. It’s been a difficult week for the euro as rumors about what would happen with Greece have flown about. However, many […]
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February 172012
Japanese Yen Falls as Risk Appetite Improves
Japanese yen is falling today, heading lower on a general feeling of risk appetite in the markets. Earlier this week, Japanese leaders used funds to buy other currencies in order to keep the yen lower, and today demand for riskier assets is encouraging yen weakness. For now, there is plenty to support risk appetite. There are hopes that a Greek bailout will be accomplished on Monday, since there have been […]
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February 172012
Sterling Benefits from Rising Retail Sales
The Great Britain pound rose today, supported by the government report that showed UK retail sales unexpectedly increasing last month, easing fears of a recession in the United Kingdom. Seasonally adjusted volume of retail sales rose 0.9 percent in January, following the rise by 0.6 percent in December. Analysts predicted a drop by 0.3 percent. The positive retail data, combined with yesterday’s report about improving consumer sentiment in the UK, allow economists […]
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February 172012
EUR/USD Rises Ahead of Decision About Greek Bailout
EUR/USD rose today as traders hoped that European leaders will agree to provide aid to Greece on their meeting on February 20. The currency pair closed above its opening level, but was considerably below the intraday high. The US reports weren’t as good as analysts predicted, but they couldn’t be considered bad either. CPI advanced 0.2% in in January on a seasonally adjusted basis, compared to the median forecast of 0.3%. The index […]
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February 172012
Bollard’s Speech Boosts NZ Dollar, Positive Market Sentiment Adds Support
The New Zealand climbed today as positive news from the United States and Europe created a favorable trading environment for currencies with higher yield, while Alan Bollard, the Reserve Bank of New Zealand Governor, further bolstered the currency as he suggested that the New Zealand is performing better than was thought. The United States showed signs of robust economic recovery, while the European Central Bank kicked can down the road, […]
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