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Day: February 29, 2012
February 292012
Euro Struggles on LTRO
Euro is struggling today, especially against the US dollar. The Long-Term Refinancing Operation offered more money than expected, and that has many wondering about the stability of the European banking system. So, even though there is a measure of risk in the financial markets today, the euro isn’t feeling the good effects. Indeed, the LTRO is offering $713.4 billion (489 billion euros) in special financing to banks in the latest — and possibly […]
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February 292012
US Dollar Mixed after GDP Data
US dollar is mixed today after encouraging GDP data was released. The latest numbers for the fourth quarter of 2011 indicate that the US economy grew 3%, which is better than the 2.8% pace originally reported. The news has helped the greenback pare some of its losses against the Japanese yen, and provided some support for Great Britain pound. US GDP data suggests that the US economy might […]
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February 292012
EUR/USD Dips as Bernanke Sees Improvement of Job Market
EUR/USD slumped today after Federal Reserve Chairman Ben Bernanke said in his comments today that there are positive developments in the US labor market. (Event C on the chart.) The comments followed the set of positive macroeconomic reports, including the preliminary report that showed US economy growing more than was previously estimated. US GDP expanded 3.0% in the fourth quarter of 2011, according to the preliminary estimate, while analysts […]
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