Day: March 28, 2012

March 28
2012

Euro Struggles, Even on Possibility of Firewall Boost

Euro is struggling today after seeing some earlier gains. Some of the risk appetite from earlier has been erased, replaced by continued concerns about the eurozone. Even an Italian bond sale and a budget in Spain can’t completely stave off the worries about what’s next. Also unable to completely do away with Forex trader concerns about the eurozone is the discussion over how to boost the firewall. The emergency bailout […]

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March 28
2012

Japanese Yen Gains as Fiscal Year Comes to a Close

It’s the end of the fiscal year for Japanese companies, and exporters are buying more to close things out. The result is that the Japanese yen is gaining against its major counterparts, helped along by the introduction of a certain amount of risk aversion on lackluster economic data from the United States and continued concerns about the eurozone. Right now, as the fiscal year draws to a close, exporters are buying quite a bit. This means that […]

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March 28
2012

NZ Dollar Declines on Worries About China’s Slowdown

The New Zealand dollar declined today on the speculation that the Chinese economy is slowing, reducing attractiveness of riskier assets of emerging markets, and as Asian stocks fell. The report on March 22 showed that China’s manufacturing may has slowed this month, though forecasters say that the government report on April 1 may show an expansion, albeit a minor one. The New Zealand currency depends on the China’s economy as the Asian country is […]

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March 28
2012

Swedish Krona Advances with Consumer Sentiment

The Swedish krone advanced today as confidence of Swedish consumers improved more than were expected by market analysts and as fears of the economic crisis were almost gone. The National Institute of Economic Research reported today that consumer confidence rose from -3.2 in February to zero in March. The actual reading was better than the forecast figure of -2. Italian Prime Minister Mario Monti, who previously was warning about the threat of credit […]

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March 28
2012

EUR/USD Erases Gains, Falls for Second Session

EUR/USD slipped today, falling for the second trading day. Earlier, the currency pair advanced as European officials reassured investors that the worst period of the crisis is over. Tomorrow’s data is expected to show that unemployment claims in the United States remained stable and the US economy expanded. Durable goods orders rose 2.2% in February, following the drop by 3.6% (revised from 4.0%) in January. The expected increase was 3.0%. (Event A on the chart.) […]

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