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Day: March 19, 2012
March 192012
Canada’s Dollar Gains on Rally of Stocks
The Canadian dollar gained today as global stocks rallied and positive macroeconomic fundamentals in the United States boosted risk appetite and increased appeal of Canada’s currency. The Standard & Poorâs 500 Index of stocks gained 0.6 percent to 1,412 after reaching 1,412.28, the highest level since May 2008. Futures on crude oil, the major export of Canada, rose 0.8 percent in New York. The loonie also continued to profit from the positive outlook […]
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March 192012
AUD Falls on Stevens’ Comments
The Australian dollar fell today after Glenn Stevens, Governor of the Reserve Bank of Australia, talked about an economic slowdown in different parts of the world and difficulties the Australian economy may face. Stevens mentioned the slowdown of economic growth in Asian nations, most importantly the in China. As for Europe, the Governor said: In terms of the practical impact of these events, at present we can say that the euro area has been in recession for some months. He wasn’t […]
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March 192012
Euro Turns Lower in Forex Trading
Euro is turning lower today, after some gains earlier. Now, though, the 17-nation currency is falling back as Forex traders try to determine what might be next. Talks about combining bailout funds in the eurozone, as well as a bond sale today, are affecting the euro. Initially, the euro got a bit of a boost on the news that bailout funds in the eurozone might be combined. German Chancellor Angela Merkel suggested […]
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March 192012
Canadian Dollar Choppy Against the US Dollar
Canadian dollar is trading choppily today, moving between gains and losses as investors look for direction. US stock futures are lower, and that is weighing on high beta currencies, but at the same time commodities are higher providing support. Loonie is lower right now, but trying to fight back toward its earlier high. At one point, Canadian dollar had enough juice to bring USD/CAD down […]
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March 192012
Yen Rebounds After Decline
The Japanese yen rebounded today as economists speculated that the currency fell too much to fast. The currency may also rise as investors remained a little cautious about the global growth, but fundamentals still remain somewhat unfavorable for the yen. The yen was previously falling as market sentiment turned to optimism and Japan’s policy makers were talking about an intervention. The currency has reached an 11-month low versus the dollar last week and has […]
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