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Day: March 21, 2012
March 212012
Canadian Dollar Softens Against Dollar as Risk Aversion Returns
Canadian dollar is softening against the US dollar today, after seeing some earlier gains. Now, though, risk aversion is returning to the financial markets, and loonie is heading lower. Canadian dollar, however, retains many of its gains against the UK pound, which is embattled today. Loonie saw support earlier today from higher commodity prices. Oil prices, which dipped lower on the news that […]
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March 212012
UK Pound Drops on Government Borrowing
UK pound is struggling today, dropping on the latest figures related to government borrowing. As the government prepares to share its new budget, it’s clear that there isn’t going to be much room for stimulus. The news has the sterling heading lower against the euro and the US dollar today. Borrowing figures for the British government show that, year-to-date in February, the UK government has borrowed 110 billion pounds. The news came as public […]
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March 212012
Won Drops as China Reduces Appeal of Risky Assets
The South Korean won slid today as global equities declined on concerns that China’s economic slowdown sapped demand from riskier assets of emerging economies. Nowadays, one of the major themes in news is the economic slowdown of China. Indeed, Premier Wen Jiabao stated that the growth target is 7.5 percent for this year, while it has been 8 percent for the last several years. Additionally, North Korea threatened […]
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March 212012
EUR/USD Erases Gains as Traders Feel Depressed
EUR/USD slipped today on depressed mood among Forex traders that made them avoid riskier assets. Earlier, the euro reached the highest level in two weeks as the Greek Parliament voted in favor of a new bailout package. The US housing market continued to puzzle traders by showing mixed results. Existing home sales edged down to the seasonally adjusted annual rate of 4.59 million in February from 4.63 million in January (upwardly revised […]
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March 212012
Euro Rises as Greek Parliament Approves Bailout
The euro advanced today, reaching the highest price in more than four months against the Japanese yen, after Greece won parliamentary approval for another bailout and on anticipation of positive macroeconomic data. Acting Parliament Speaker Grigoris Niotis said that 213 Greek Parliament members voted for the bailout and 79 were against it. Now, the indebted country may receive the â¬130 billion rescue package. Economists predict that tomorrow’s report […]
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March 212012
NZ Dollar Slides with Milk Prices
The New Zealand dollar slipped as milk prices declined to the low last seen more than five months ago. The currency also weakened as concerns about slowdown of China’s economy turned investors’ sentiment to risk aversion. Fonterra Cooperative Group Ltd., the biggest dairy exporter in the world, reported that prices for milk powder delivered in May fell to $3,316 per metric ton, the lowest level since October 5. The kiwi (as the New […]
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