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Day: March 20, 2012
March 202012
Dollar Gains as China Makes Traders Cautious
The US dollar gained today as signs of an economic slowdown in China damped risk appetite of investors and made them to return to the safety of the US currency that is supported by the positive outlook for the nation’s economy. BHP Billiton signaled that steel production in China is slowing, sending markets in a risk aversion mode. The Standard & Poorâs 500 Index slipped 0.3 percent, following the earlier decline by 0.9 percent. The Dow Jones Industrial […]
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March 202012
Rand Ends 3-Day Rally on Concerns About China
The South African rand fell today for the first time after three sessions of gains on concerns that the economic slowdown in China will diminish demand for commodities, reducing attractiveness of South Africa’s commodity-linked currency. China was showing signs that its economic growth is moderating for some time now. It’s bad for commodities and for South Africa’s currency as the South African economy depends on exports of raw materials and China is important […]
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March 202012
Euro Drops as China Concerns Rise, But Recovers
Euro is dropping today, losing ground as risk aversion sets in on the latest evidence that China’s economy might be slowing. After seeing four days of gains against the US dollar, the 17-nation currency is fell behind, but is now moving higher again. BHP Billiton shared information that steel production in China is slowing, and that has many worried about the state of industry in the up and coming […]
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March 202012
Japanese Yen Lower, Even as Risk Aversion Dominates Markets
Risk aversion is dominating markets right now, but that isn’t keeping the yen from heading lower today. Instead of getting a boost as a safe haven currency, the Japanese yen remains lower against other majors this morning. It’s been an interesting day so far for the yen, as traders try to find their places. Right now, risk aversion is high as lack of fresh and positive data leads investors […]
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March 202012
Malaysian Ringgit Falls as High Fuel Prices Can Hurt Growth
The Malaysian ringgit fell today, followed by other Asian currencies, on concerns that rising energy prices may deter economic growth in the region and, as a result, decrease capital inflow from foreign investors. China increased prices for gasoline and diesel, following the increase of fuel prices in other parts of the world. China is the biggest consumer of oil. Analysts say that Malaysian central bank may keep its interest rates unchanged […]
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March 202012
US Dollar Drops on Profit-Taking
The US dollar extended its losses against most major currencies, including the euro, the Great Britain pound and the Swiss franc, for the third day as positive mood of Forex traders made them prefer currencies with higher yield. The dollar dropped for the third session, but had a nice rally at the first half of the previous week and reached a multi-month record against some currencies. Some analysts claimed that it triggered profit-taking that […]
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