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Day: April 25, 2012
April 252012
USD/JPY Gains as Fed Does Not Mention QE3
The US dollar gained against the Japanese yen today before retreating to the opening level as the Federal Reserve refrained from adding stimulus to the US economy. The currency remained lower versus the euro and the Great Britain pound. Some analysts anticipated some dovish remarks from the Fed today. Such expectations didn’t come true as the Federal Open Market Committee said in its statement: The Committee expects economic growth to remain moderate over […]
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April 252012
Will Bank of Japan Intervene? Investors Unsure, Yen Fluctuates
The Japanese yen fluctuated today, staying nearly flat at present, as Forex market participants were unsure whether the Bank of Japan would intervene to trim yen’s gains. The crisis in Europe is hurting Japan’s economies in several ways. First, it weakened demand for the nation’s exports from European countries. Second, the crisis boosted demand for the safety of the yen, helping the currency to rebound from the March lows. Analysts say that the BoJ is […]
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April 252012
Canadian Dollar Receives Boost on Better News
Canadian dollar is getting a boost today, thanks to better sentiment in the financial markets. Loonie is heading higher on better earnings news, as well as reduced fears about what’s next for the eurozone. Loonie is heading higher today, thanks to a jolt from Apple. AAPL earnings are helping market sentiment, as well as adding to a growing list of companies whose Quarter 1 earnings beat expectations. The good news is helping […]
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April 252012
US Dollar Mostly Weaker on Improved Sentiment
US dollar is mostly weaker as improved sentiment helps boost other currencies today. Concerns about the global economy, and about Europe, are fading a little bit, and that is helping other currencies against the US dollar. Greenback is not needed as a safe haven, and that is resulting in gains for a few other currencies. An interest rate decision is expected from the Federal Reserve today. Many expect that […]
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April 252012
EUR/USD Stays Higher Even After FOMC Refrains from QE3
EUR/USD was higher today as falling yields for European bonds had a positive effect on the market sentiment. The euro retained its gains even as the US Federal Reserve hasn’t mentioned quantitative easing in its monetary policy statement. Durable goods orders were also negative for the dollar, falling much more than predicted. Durable goods orders edged down 4.2% in March. Analysts expected a drop, but only by 1.5%. The February […]
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April 252012
Pound Falls as GDP Shrinks
The Great Britain pound fell today after a government report showed that the UK economy unexpectedly declined in the first quarter of this year, reducing appeal of the nation’s currency. Britain’s gross domestic product dropped 0.2 percent in the first quarter of 2012, following the drop by 0.3 percent in the previous quarter. Traders were frustrated as analysts predicted a 0.1 percent increase. Gross value added grew 0.2 percent in February on an annual basis, […]
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April 252012
Rand Gains for Second Day on European Bonds & US Corporate Profits
The South African rand gained today for the second day after yields on European bonds fell, easing nervousness about Europe’s troubles, and as US corporate profits were above forecasts. Falling yields for Spanish, Italian and Dutch bonds gave investors hope that Europe may yet emerge from its financial crisis. Apple reported that it almost doubled its profit in the second fiscal quarter as demand for iPhone grew […]
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