Euro got a quick 60-pip boost today following the release of CPI data from the United States. Additionally, there are talks that the ESM fund might allow for 700 billion euros instead of 500 billion euros. The move would help calm markets, and that is also providing support for the euro today. In the United States, the CPI reading for February came it at 0.4 percent. That was slightly lower than […]
Read moreThe New Zealand dollar gained for the second day today as global stocks rallied and optimism about the economy of the United States spurred risk appetite among investors. The MSCI World Index of stocks was up 1.8 percent since March 9, while the Standard & Poorâs 500 Index closed yesterday at its highest level since June 2008. The kiwi (as the New Zealand currency is often nicknamed) rallied also as the Federal […]
Read moreCanadian dollar is heading higher against the US dollar today, gaining as oil prices rise, and as optimism helps high beta currencies. Loonie is getting a boost from general risk appetite today, as well as being helped along by higher oil prices. Even a drop in Canadian manufacturing hasn’t been able to keep the loonie down. In spite of disappointing economic data in Canada, the loonie is finding support on the Forex market. […]
Read moreThe Norwegian krone fell today after central bank’s Governor Oeystein Olsen said that investors will shun riskier currencies, but the krone rebounded and currently trades above the opening rate. The krone slumped after Norges Bank unexpectedly cut its interest rates, but was rising since then. Olsen said in an interview today: At some point there is a risk for investors that the krone weakens. For short-term investors […]
Read moreEUR/USD jumped today, rising for the second day, as US macroeconomic fundamentals were worse than expected, leading to the speculation that the Federal Reserve will maintain stimulus. CPI rose 0.4% in February, exactly like forecasters predicted. The January growth was 0.2%. (Event A on the chart.) Industrial production registered no change in February, while it was expected to rise by 0.4%, like it did in January. Capacity utilization rate was […]
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