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Day: March 30, 2012
March 302012
Forint Gains as Europe Strengthens Firewall Against Crisis
The Hungarian forint gained today after European finance ministers agreed to boost the bailout fund, leading to hope that Hungary may be able to resolve its debt problems. European finance chiefs agreed to bolster the firewall against the debt crisis at todayâs meeting in Copenhagen. While they are aiming to help mainly Greece, Ireland and Portugal, the increase of the bailout funds may also be beneficial to Hungary. The country is the most […]
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March 302012
US Dollar Index Declines as Cautious Optimism Makes an Appearance
US dollar index is lower today, declining as better news encourages cautious optimism and improves risk appetite. The greenback is lower against the euro on better news out of the 17-nation currency region, as well as encouraging news about consumer spending in the United States. The US dollar index is a little lower today, falling back on the last day of the first quarter of 2012. Against the euro, the US dollar is down as Spain […]
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March 302012
Euro Gains as Leaders Raise Firewall Limit to 800 Billion Euros
Euro is seeing a boost today as financial ministers in the eurozone agree to raise the firewall meant to contain the spread of sovereign debt crises to 800 billion euros. The move is only temporary, though, and designed to help the eurozone navigate the tricky waters expected over the next year or so. By June 2013, the permanent capacity is supposed to be set at 500 billion euros. The news is helping the euro, though, by providing a measure of security […]
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March 302012
NZ Dollar Rises with Asian Stocks
The New Zealand dollar advanced today, rising against the US dollar and erasing its previous losses versus the Japanese yen, as Asian stocks gained ahead of the meeting of European finance ministers. Yesterday, market sentiment was negative, bringing most risky currencies down. The pessimism remained at the beginning of today’s trading session, but, gradually, traders’ stance was shifting toward optimism ahead of the meeting of European finance chiefs. The MSCI Asia […]
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March 302012
Rand Advances Ahead of European Ministers’ Meeting
The South African rand advanced against the US dollar today after three day of losses as the euro gained versus the greenback on hopes that European lawmakers would approve an increase of the bailout fund. European finance ministers meet in Copenhagen today to discuss whether to boost the rescue fund. The euro gained against the dollar, helping the rand in the process. Additionally, the European Union is one of the major trading partners of South Africa, therefore its […]
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March 302012
EUR/USD Rallies on Increase of Bailout Fund, Can It Keep Gains?
EUR/USD climbed today, erasing yesterday’s losses, after European finance ministers agreed to boost the firewall against the debt crisis. The euro’s rally stalled, though, and the shared 17-nation currency is gradually falling back to the opening level. As for the United States, the data today was relatively good, even though some reports were worse than expected. Personal income and spending rose in February. Income rose 0.2%, the same rate of growth […]
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March 302012
Czech National Bank Maintains Interest Rates, Koruna Drops
The Czech koruna rose today even after the Czech National Bank kept its two-week repurchase rate unchanged yesterday on concerns that the global economic slowdown will hurt demand for nation’s exports. The Czech central bank maintained its key interest rate at 0.75 percent. Six members of the bank’s board voted in favor of this decision, while one voted to increase the rate by 25 basis points. The central bank predicted […]
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