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Day: May 4, 2012
May 42012
Euro Drops Ahead of Elections on Weekend
The euro was falling today as elections in European countries this weekend and the next week add to uncertainty regarding the ability of the eurozone to withstand its financial crisis. Greece is the country that was most damaged by the crisis and its parliamentary elections on May 6 are very important for the well-being of the euro. As Holger Schmieding, a chief economist at Berenberg Bank, outlined: The biggest risk for markets is that in Greece we just donât get […]
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May 42012
Pound Gains vs. Euro Ahead of Elections in France & Greece
The Great Britain pound gained against the euro today as Forex traders were nervous before the election in Greece and France this week. The currency fell against the US dollar despite the negative fundamental data from the United States. The French will vote in the final round of the presidential elections on May 6, while Greeks will choose a new parliament. Some participants use plenty of anti-euro rhetorics in their speeches. It is likely […]
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May 42012
Indian Rupee Falls as USA Spurs Risk Aversion
The Indian rupee fell today as unfavorable fundamentals reports from the United States caused speculations that the global economic recovery is faltering and damped demand for riskier currencies of Asian nations. Yesterday, a report from Institute for Supply Management showed a worse-than-expected decline of the service industries in the USA. Today, US non-farm payrolls were far below forecasts, confirming earlier negative data. The USA was one of the few sources of optimism for traders […]
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May 42012
Loonie Slips after Seeing Earlier Gains
Canadian dollar is slipping today, after heading higher in earlier trading. Many currencies are fluctuating on the currency market today, thanks to the uncertainty in the markets right now. Earlier, the loonie had seen some gains as disappointing data in the United States dropped the greenback. Now, though uncertainty is weighing on the Canadian dollar. Initially, when the US nonfarm payrolls for April were released and the disappointing result was seen, the Canadian dollar […]
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May 42012
Japanese Yen Mixed in Forex Trading
Japanese yen is mixed in forex trading today as traders look for direction. Earlier, yen was higher against its counterparts, but now the currency seems to be pulling back — at least against the US dollar and the Great Britain pound. Yen still remains slightly higher than the euro. The financial markets continue to fluctuate between confidence and uncertainty. With some signs of economic improvement, there is a measure of confidence. […]
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May 42012
EUR/USD Erases Losses as US Nonfarm Payrolls Below Forecast
EUR/USD was slowly falling today, but erased its losses in one big jump as the rate of US nonfarm payrolls growth was much smaller than anticipated by analysts. The payrolls were unusually close to the ADP employment report, adding to speculations that the previous fast employment growth was caused by warm winter and is going to slow. The currency pair was flat after the report, but currently attempts to resume its […]
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