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Day: February 24, 2012
February 242012
Pound Climbs with Annual GDP Growth
The Great Britain pound jumped today, reaching the highest rate in more than five months versus the Japanese yen, after the report showed that the UK economy shrank last quarter on a quarterly basis, but expanded on an annual basis. Britain’s gross domestic product fell 0.2 percent in the fourth quarter of 2011 from the previous three months, matching analysts’ forecast. That was the same rate of contraction as in the previous quarter. Year-on-year, […]
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February 242012
Won Gains on Positive Data from Europe & USA
The South Korean won gained today as positive data from Europe was followed by some really good numbers from the United States, including new home sales and consumer sentiment, that increased appeal of riskier currencies. US new homes sales were at a seasonally adjusted annual rate of 321,000 in January, compared to the median forecast of 316,000. The University of Michigan consumer sentiment index was at 75.3 in the final revision, showing a big […]
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February 242012
US Dollar Softer on Risk Appetite
US dollar is softer today as general risk appetite eliminates the need for safe haven currencies. Optimism about the future is high, and many forex traders are looking forward to improvements in the global economy. US consumer confidence saw an improvement, showing above minus 40 for the second consecutive time. This latest reading is the fifth improvement in a row, and many are hopeful that this means that consumers are […]
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February 242012
Rand Gains as German GDP Posts Annual Growth
The South African rand advanced today, rising for the third consecutive trading session, after the report showed that German economy grew in the last quarter on an annual basis, supporting positive sentiment about the economy of the eurozone. Germany’s gross domestic product advanced 1.5 percent in the fourth quarter of 2011 from a year ago, though it was down 0.2 percent from the previous three months. The report was in line with forecasts […]
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February 242012
Euro Heads Above the 1.3400 Mark
Euro has moved above the 1.3400 mark today as Forex traders look on the bright side of things. However, there are questions about whether the euro can find support at this level, considering the issues that still afflict the eurozone, and the global economy. For now, many traders are focusing on the positive aspects of recent data releases. Germany’s Ifo data came in better than expected. The US economy looks like it […]
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February 242012
EUR/USD Jumps to More than Two-Month Record
EUR/USD rallied today, reaching the highest level since December 5, as positive sentiment caused by the bailout for Greece remained on the Forex market. Germany’s gross domestic product rose on an annual basis last quarter (event A on the chart), though fell from the quarter before, adding to positive outlook about the eurozone. It has been also a good day from the United State point of view as the housing market continued to expand and consumer sentiment […]
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February 242012
Pound Climbs as Mortgage Approvals Reach Two-Year Record
The Great Britain pound rose against the US dollar and the Japanese yen after macroeconomic data showed that the number of mortgage approvals reached the highest level in two years and industrial order expectations improved. The currency was down versus the euro. The Industrial Trends Survey of Confederation of British Industry showed that the gauge of expectations rose to -3 in February from -16 in the previous month. Not a stellar performance, but still a highest level […]
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February 242012
Zloty Gains as Polish Retail Sales Grow with Increased Pace
The Polish zloty gained today after data showed that retail sales in Poland grew last month, while positive macroeconomic reports from the eurozone and the United States added to strength of higher-yielding currencies. Polish retail sales advanced 14.3 percent in January on an annual basis, following the 8.3 percent increase in December. The median estimate promised a 13.8 percent growth. Poland’s Finance Minister Jacek Rostowski said that outlook for the nation’s […]
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