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Day: March 29, 2012
March 292012
USD/CAD Drops as Canada’s Budget Deficit Expected to Shrink
Forex market sentiment wasn’t favorable for riskier assets today, but Canada’s dollar managed to gain against the US dollar and the euro. The currency also reduced its losses versus the Japanese yen. Traders’ optimism very quickly turned to uncertainty as signs all around the world spoke about economic slowdown. Concerns about Europe resurfaced, while economists became less optimistic about the United States and China. The Canadian currency was […]
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March 292012
Australian Dollar Heads Lower on Risk Aversion
Australian dollar is heading lower today, largely due to risk aversion. High beta currencies like the Aussie are at a disadvantage today as Forex traders seek safe haven with the US dollar. Concerns about global economic growth, and the situation in the eurozone, are weighing on the Australian dollar, along with other high beta currencies. Weaker sentiment is hurting the Australian dollar, especially in Asia. As Asian stock indexes retreated […]
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March 292012
US Dollar Strengthens as Eurozone Concerns Resurface
US dollar is strengthening in Forex trading as concerns about the eurozone continue to weigh on world markets. Slightly disappointing data in the United States, along with worries that the debt crisis in Europe isn’t properly contained, are sending Forex traders looking for safe haven, and that is boosting the greenback. Greenback is gaining against its major counterparts — except the Japanese yen — today as concerns about Europe […]
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March 292012
Rupee Falls as Global Economic Recovery in Danger
The Indian rupee slipped today as the signs that the global economic recovery is slowing hurt prospects for currencies of riskier emerging markets and caused the speculation that India’s economy may suffer as export demand would wane. Great Britain’s economy contracted 0.3 percent in the fourth quarter of the last year, more than was previously estimated (0.2 percent). France’s gross domestic product rose in Q4 2011 with slower pace […]
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March 292012
Yuan Falls, Ending Two-Day Rally, on Concerns About China’s Slowdown
The Chinese yuan fell today, snapping its two-day rally, on the speculation that the slowdown of China’s economy may cause the nation’s policy makers to slow appreciation of the currency. The average earnings of 505 companies tracked by the Shanghai Composite Index were 3.6 percent below the analystsâ forecast. The data followed the earlier speculation that China’s manufacturing is slowing, adding to evidences of economic slowdown in China. The signs of slowing economy cause market participants […]
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March 292012
EUR/USD Falls as Investors Question: Are Germany Committed to Help Europe?
EUR/USD fell today after it closed flat yesterday. Market participants were concerned if Germany’s commitment to boost the firewall against the crisis is sincere or it’s just a political “play” to attract more outside help. US unemployment claims were higher than was anticipated, frustrating traders. On the other hand, the US economy expanded last quarter faster than in the preceding three months. Initial jobless claims were […]
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