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Day: March 7, 2012
March 72012
US Dollar Index Gains on European Concerns
US dollar index is gaining today, inching a bit higher. Previously, the US dollar index was struggling as the euro came off three-week lows to post some gains. However, those gains have been overwhelmed, and the US dollar is higher. Too many concerns about what’s next for the eurozone are weighing on European currencies, even though equities and commodities are higher today. Good news out the United […]
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March 72012
Euro Stabilizes as Traders Move Into Wait and See Mode
Euro is off a three-week low today as Forex traders switch to wait and see mode with regard to the Greek bond deal, and with regard to the global economy. Euro has stabilized and is even slightly higher against the other majors. A surprise fall in January factory orders for Germany has many concerned about the eurozone economy — and that’s without the possibility of another crisis brought on by Greek debt. Everyone is waiting […]
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March 72012
EUR/USD Jumps on Bond-Swap Agreement
EUR/USD started today’s trading session flat, later it began to decline, but then sharply rose and is keeping the gains so far. The euro advanced as 58% of bondholders agreed to participate in the swap of the Greek debt. The US macroeconomic data was positive today and analysts predict that most of other report this week should also be good. ADP employment showed an increase by 216k jobs in February. (Event A on the chart.) […]
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March 72012
Aussie Touches Monthly Low as Economic Growth Slows
The Australian dollar dropped versus the Japanese yen and fluctuated against the US dollar after reaching the monthly low as the report showed that Australia’s economic growth slowed last quarter. Australian gross domestic product rose 0.4 percent in the fourth quarter of 2011, compared to the advance by 0.8 percent in the previous three months and the median forecast of 0.7 percent. Nation’s current account deficit widened from A$5.8 billion in the third quarter of last […]
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March 72012
Rand Rises, Struggles to Keep Gains
The South African rand rose today against the dollar at the beginning of the trading session. The currency struggles to keep its gains and currently fell below the opening rate. The rand rose today as some analysts speculated that exporters used the strong dollar to buy the currency. Forex traders anticipate that private bondholders will accept the terms of the Greek debt swap, adding to positive sentiment on the FX market and helping higher-risk currencies. The rand may […]
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