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Day: April 30, 2012
April 302012
Australian Dollar Falls as Traders Anticipate Interest Rate Cut
The Australian dollar fell today on speculation that the Reserve Bank of Australia will cut its main interest rate as the European problems cause a negative impact on Australia’s economy. The RBA holds a monetary policy meeting tomorrow and is expected to cut its main interest rate to 4 percent from the current 4.25 percent. Analysts think that the previous statements of the central bank were dovish enough to show willingness of the bank to ease […]
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April 302012
Canadian GDP Disappoints, Sending Loonie Lower
Canadian GDP surprised analysts and traders to the downside today, with February GDP declining 0.2%. The news came at the same time that reports of slowing consumer spending and income were reported in the United States. The combination is weighing on the Canadian dollar today, as well as on other currencies. The drop in Canadian GDP is being blamed, to some extent on oil and mining shutdowns that occurred in Canada. The result was that expectations were missed […]
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April 302012
US Dollar Index Recovers Somewhat as Other Majors Show Vulnerability
US dollar index is recovering somewhat today, thanks to vulnerability shown by some of the other majors today. Once again, the euro is showing a degree of weakness in forex trading, as is the pound. The yen, however, is higher against the US dollar today as a measure of risk aversion makes an appearance. A lot of what is helping the US dollar today is based around the idea that perhaps the Federal Reserve‘s recent announcement […]
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April 302012
South Korean Manufacturers Feel Confident, Won Jumps
The South Korean won climbed today as nation’s manufacturer confidence jumped to the nine-month high and hopes for growth of the US economy boosted prospects for higher-yielding assets of emerging markets. The Bank of Korea reported that the index of South Korean manufacturers’ outlook for May climbed to 90 from 85 for April, reaching the highest level since August 2011. The index for non-manufacturing sector expectations was up from 82 to 85. The won also gained as the growing […]
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April 302012
Euro Slips as Spain Enters Recession
The euro fell today as Spain’s economy entered a recession, fueling concerns that the financial crisis is spreading across Europe. That was the first day of decline against the dollar after four days of gains and the third consecutive session of losses against the yen. Spain’s gross domestic product fell 0.3 percent in the first quarter from the previous three months. The economy shrank at the same rate in the fourth quarter of the previous year, meaning […]
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April 302012
EUR/USD Trades Sideways, Erasing Earlier Losses
EUR/USD fell today after a report showed that Spain entered a recession, but later the currency pair rebounded and traded in a wide range. Currently, the euro stays flat. The US economic data was somewhat worse than expected and definitely worse than the previous reports. Personal income and spending increased in March. Income rose 0.4%, while analysts expected growth to stay at the same 0.3% as in February. Spending growth was 0.3%, […]
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