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Day: April 3, 2012
April 32012
Euro Recovers from Earlier Pull Back
Earlier euro pulled back on uncertainty about the Federal Reserve minutes, as well as concerns about Spanish debt. As Spanish bond yields rose, the euro dropped. However, things are turning around a little bit. After pulling back, the euro is now gaining against the US dollar. Right now, European banks are delaying the necessity of dealing with potential problems, and so far these tactics are working. The euro […]
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April 32012
US Dollar Edges Higher as Traders Wait for Fed Minutes
US dollar is mixed today as traders wait for the latest minutes from the Federal Reserve meeting. The minutes of the meeting should provide some insight into what different members of the board think should happen with the economy, and might even give some clues about what could be next. For now, US dollar is mixed, trading mostly unchanged against the euro, and a little higher against the UK pound. Greenback […]
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April 32012
EUR/USD Falls as FOMC Doesn’t Plan More Stimulus
EUR/USD slid today as the minutes of the FOMC monetary policy meeting showed that the Federal Reserve isn’t planning quantitative easing. The currency pair was trading sideways for the most part of the trading session, but slumped after the minutes were released. Factory orders rose 1.3% in February. The actual value was somewhat below forecast of 1.5%, but much better than the January figure of -1.1%. (Event A on the chart.) The Federal Open Market […]
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April 32012
USD/CAD Falls as Global Economy on Track to Recovery
The Canadian dollar climbed against its US counterpart yesterday and extended the rally today on signs of the global economic recovery. The currency also advanced versus the euro, though retreated a little today, while against the Japanese yen Canada’s dollar was falling. The positive outlook for the global economy, which has appeared on the Forex market last week, continued to prevail at the beginning of this week. The expansion of China’s manufacturing alleviated fears of global economic […]
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