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Day: March 15, 2012
March 152012
US Dollar Pulls Back in Forex Trading
US dollar is pulling back in Forex trading, heading lower after a few days of strength. Risk appetite is rising, and the greenback is losing steam as Forex traders look for higher yields. The US dollar index is falling, and is down to 80.27. Right now, focus is on better economic news, and risk appetite. Earlier, the news that the Federal Reserve doesn’t plan to do any more quantitative easing […]
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March 152012
Ringgit on Signs of Economic Slowdown in Malaysia
The Malaysian ringgit fell today on concerns that Malaysia’s economy is slowing and after the US Federal Reserve refrained from quantitative easing, sparking the speculation that there will be less cash available for emerging markets. Industrial output posted annual growth by just 0.2 percent in January, compared to the 2.9 percent advance. Analysts predict that a report next week will show that consumer prices rose 2.3 […]
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March 152012
Euro Mostly Flat on Disappointing Data
Eurozone data continues to disappoint, leaving the euro mostly flat today. Even though euro is a little higher against the US dollar and the UK pound, gains have been somewhat insignificant so far. Concerns about recession in the eurozone are high, and there are still worries about sovereign debt. Today, a lot of the focus in the eurozone is on the shrinking labor market. Employment continues to sink, falling by 0.2 percent in the fourth […]
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March 152012
Franc Jumps as SNB Maintains Ceiling
The Swiss franc climbed today after the Swiss National Bank maintained the ceiling for the currency and increased its growth forecast. The franc rose for the first day after two sessions of decline. The Swiss central bank left its main interest at zero to 0.25 percent range and maintained the cap at 1.20 francs per euro. The bank wrote: There are growing indications that Switzerlandâs economy is stabilising. For 2012, the SNB is now […]
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March 152012
EUR/USD Rises After Two Days of Losses
EUR/USD rose today after two days of losses. Mood on the Forex market is cautiously optimistic today, reducing need for the dollar as a safe haven. The sentiment may easily change as the eurozone shows signs of an economic downturn. The United States, on the other hand, recover as was shown by today’s set of really good results. PPI rose 0.4% in February. It’s somewhat below the predicted increase by 0.5%, but above the January reading of 0.1%. […]
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March 152012
Norges Bank Unexpectedly Cuts Interest Rates, Krone Slumps
The Norwegian krone slumped against the US dollar yesterday and remained weak today as the nation’s central bank cut its key interest rate, surprising market participants and making them shun the Norwegian currency. Despite that, the krone was higher against the euro today. Norges Bank decreased its main interest rate by 25 basis points to 1.50 percent. Bank’s Governor Oeystein Olsen explained the reasons behind the cut: The continuing […]
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