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Day: April 4, 2012
April 42012
Russia’s Ruble Follows Crude Oil in Decline
The Russian ruble slid today against the US dollar as crude oil prices declined after US inventories advanced more than was predicted by specialists. US stockpiles of crude climbed by 9.0 million barrels to 362.4 million last week. The expected increase was 2.1 million. Moreover, riskier assets were under pressure after US services industry expanded slower than was anticipated and Mario Draghi, the President of the European […]
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April 42012
Risk Aversion Sends Canadian Dollar Lower
Canadian dollar is lower today as risk aversion sets in, and risk currencies lose ground. Loonie is down as investors look for ways to preserve their capital as opposed to seeing big gains. Equities around the world are lower, as are commodities, and that usually correlates with a higher US dollar against high beta currencies. Canadian dollar is pulling back as jitters in the eurozone affect market sentiment around […]
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April 42012
Pound Rises vs. Euro on House Prices & Services
The Great Britain pound reached today the highest level in two months against the euro as house prices rose and services industry expanded. The currency retreated against the US dollar after the initial advance. The Halifax House price index rose 2.2% in March, following the drop by 0.4% in February. The Services Purchasing Managers’ Index advanced from 53.8 in February to 55.3 in March, while a decrease to 53.5 was expected by market participants. Other reports […]
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April 42012
Japanese Yen Rallies Against Other Majors
Japanese yen is rallying against other majors today as risk aversion in the markets prompts an interest in safe haven. The yen is prized for its stability, even though it is a low yielding currency. Concerns about the eurozone are a big part of the uncertainty right now. Worries about the eurozone are dominating markets today, as the European Central Bank leaves the interest rate unchanged. Concerns about the eurozone economy are […]
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April 42012
EUR/USD Falls as Draghi Speaks About Downside
EUR/USD fell today as the European Central Bank kept its main interest rate unchanged (event A on the chart) and Bank’s President Mario Draghi said that downside risks from the crisis are still exist (event C on the chart). US employment growth was in line with forecasts, while growth of services industry slowed more than expected. ADP employment rose by 209k jobs in Mach from February, in line with […]
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