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Day: May 14, 2012
May 142012
Brazilian Government Allows Real to Depreciate
The Brazilian real fluctuated today as Brazil’s government indicated that it is not going to intervene in the exchanged markets in order to support the currency. The willingness of the government to allow the currency to weaken harmed the real, but it recovered later. Finance Minister Guido Mantega said that the stronger dollar is good for the nation’s economy and the government is not going to support the domestic currency: The government has never set parameters for the dollar and will […]
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May 142012
Loonie Falls vs. Greenback & Yen, Gains vs. Euro on Greece’s Troubles
The Canadian dollar fell against its US counterpart and the Japanese yen as the threat of Greece exiting the eurozone weighed on commodity currencies. On the other hand, the loonie gained versus the euro. Canada is lucky to have the United States as its largest trading partner, not the European Union as many other export-oriented countries. The US economy has its share of problems, but it stays firmly on a trek to recovery, while the EU is in recession. […]
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May 142012
Aussie Struggles on the Forex Market
Australian dollar is struggling on the Forex market, especially against the US dollar. Concerns about what’s happening in Europe are affecting risk appetite, and sending Forex traders away from riskier assets like the Aussie and to low beta currencies like the US dollar and the Japanese yen. Risk appetite is playing a big role in the Australian dollar’s performance today. Concerns that the Greece might actually leave the eurozone are increasing, […]
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May 142012
US Dollar Gains Against Euro in Forex Trading
US dollar is heading higher against the euro in Forex trading right now, gaining as concerns about Spain and Greece come into sharper focus. Greenback is also higher against the Canadian dollar and other commodity currencies as oil prices and gold prices drop. UK pound, though, is gaining against the US dollar, as is the Japanese yen. US dollar is turning in a mixed performance today, gaining against […]
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May 142012
Euro at 3-Month Low as Greece May Leave Eurozone
The euro fell today, reaching the lowest level in more than three months against the US dollar, as speculation that Greece may leave the eurozone drove away investors from the shared 17-nation currency. Greece is still unable to form a coalition government after a week of talks and negotiating. Even if the a government would be formed, the country may still leave the currency union as the Hellenic Republic is reluctant to implement austerity […]
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May 142012
Pound Gains, Threatens Economy of UK
The Great Britain pound rose today as the safe haven role of the currency helped it to profit from speculation that Greece may leave the eurozone. The strength of the sterling caused worries that it may hurt the UK economy. The pound gains appeal as the Swiss franc loses it due to the euro-peg. Economists are worried, though, that a strong currency may harm efforts to bring the United Kingdom out of recession. Ian Stannard, […]
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