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Day: April 6, 2012
April 62012
UK Pound Takes the Upper Hand
UK pound is higher today, gaining as things take a turn toward the positive. The news that stimulus is unlikely to come in the eurozone is helping the pound against the euro, and disappointing news in the United States is helping the pound against the US dollar. Sterling is higher against the euro today, thanks to remarks from Mario Draghi to the effect that inflation remains a problem in the eurozone. It seems unlikely that the ECB […]
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April 62012
Euro Mixed On Remarks from Mario Draghi
Euro is mixed today, dropping against the UK pound, but rising against the US dollar. The economic news today is offering a little uncertainty, and resulting in a degree of choppiness in trading. Earlier, Mario Draghi, president of the European Central Bank, said that the fear of inflation was high in the 17-nation currency zone. This news came as a surprise to many, who had hoped that the ECB would take steps to stimulate the economy […]
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April 62012
Dollar Harmed by Worse-Than-Expected Non-Farm Payrolls
The US dollar weakened today as non-farm payrolls came out somewhat disappointing, increasing prospects for a next round of quantitative easing by the Federal Reserve and reducing appeal of the greenback. Non-farm employment rose by 120,000 jobs in March. That’s significantly below the market expectation of 207,000. The February reading was revised from 227,000 to 240,000. The unemployment rate managed to fall from 8.3 percent to 8.2 percent despite the slowing employment growth, even though […]
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April 62012
Franc Fluctuates Near Ceiling
The Swiss franc was struggling today as it nears the ceiling set by the Swiss National Bank, testing the resolve of interim Chairman Thomas Jordan to keep the policy of making the currency weaker. The Swissie has breached the cap of 1.20 francs per euro yesterday, but retreated back below the ceiling. It was the first time the franc reached the cap since it was introduced in September last year. Today, the currency fluctuates near […]
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April 62012
EUR/USD Rises for First Day in Five as Nonfarm Payrolls Disappoint Traders
EUR/USD gained today for the first time this week. The currency pair jumped after US nonfarm payrolls showed jobs growth that was far smaller than anticipated. Consumer credit was also below expectations. On the other hand, the previous figures were revised upwardly. Anyway, the poor employment data reignited talks about quantitative easing. Nonfarm payrolls rose by 120k jobs in March, disappointing traders who anticipated […]
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