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Day: May 7, 2012
May 72012
Mexican Peso Falls as Fears Grow After European Elections
The Mexican peso fell today as fears of the European financial crisis intensified after the elections the past weekend revealed growing resentment against austerity measures in European countries. The currency managed to rebound later. The French voted in favor Francois Hollande in the presidential election over Nicolas Sarkozy. Hollande says that Europe needs growth, not austerity. Such view may benefit the eurozone in the long run, but in the immediate futures it spurred […]
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May 72012
Canadian Dollar Steady Today
Canadian dollar is mostly steady today. Amidst uncertainty about Europe, and concerns about what’s next, the loonie is managing to hold its own, especially against the US dollar. Risk aversion isn’t as big a deal as might have thought after the weekend in Europe. However, there is little domestic data to change the course of the Canadian dollar, and volumes are low due to a holiday close for the markets in London. Even though […]
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May 72012
Aussie Sees Some Improvement
After an interesting weekend, the Aussie is seeing some improvement today as the Down Under currency is seen as a safer bet than European currencies right now. After the elections in France and Greece, many are wondering what’s next for the eurozone, and that is giving the Australian dollar a bit of a boost today. Aussie is even higher against the US dollar — and there is some risk aversion in the markets as traders wonder […]
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May 72012
Euro Dips on European Elections, Rebounds
The euro dipped to the four-month low today on the outcome of French and Greek elections the past weekend. The currency managed to rally, but remains far below the Friday’s close. Francois Hollande won the election in France. Such outcome was not unexpected, but it is still negative for the euro. Voters in Greece preferred parties that stand against austerity measures. On top of that, German Chancellor Angela Merkelâs party had a very bad […]
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May 72012
EUR/USD in May 2012 — Poll
Seeing the current highly unstable situation in EUR/USD makes me wonder what will happen next. In my opinion, the pair has enough momentum to either jump up significantly or fall down far below 1.3 level. The currency pair has broken through the descending triangle pattern’s support, but seems reluctant to pass below 1.3 level. What is your opinion regarding the Euro/Dollar? Where will EUR/USD end trading […]
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