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Day: March 16, 2012
March 162012
EUR/USD Goosed Higher On General Optimism
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 […]
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March 162012
NZ Dollar Gains with Global Stocks
The 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 […]
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March 162012
Canadian Dollar Rises on Optimism, Oil Prices
Canadian 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. […]
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March 162012
Norwegian Krone Rises, Defies Olsen
The 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 […]
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March 162012
EUR/USD Rises as US Data Worse Than Expected
EUR/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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