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Day: May 15, 2012
May 152012
Greece Has Mixed Impact on Canada’s Currency
The Canadian dollar advanced today against the euro as the political turmoil in Greece made traders flee from the shared European currency. The loonie also rose a little versus the Japanese yen, but fell against the US dollar. The current situation in Greece is a mixed blessing for the Canadian currency. Forex traders seek stable and safe currencies as they run from the euro and associated risks. The Canadian dollar is a good choice as it is […]
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May 152012
Australian Dollar Retreats as Fears of European Crisis Grip FX Market
The Australian dollar gained today on speculation that its previous losses were excessive. The currency trimmed gains versus the Japanese yen and fell against the US dollar as fears of the European crisis returned to Forex traders. FX traders felt risk appetite for a short time after a report showing growth of the German economy. The positive mood was short-lived, though, and currently speculators feel aversion to risk. Talks that Greece may leave […]
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May 152012
NZ Dollar Erases Year’s Gains vs. US Dollar, Falls vs. Euro
The New Zealand headed to the lowest level this year against the euro as Germany’s economic growth boosted the shared 17-nation currency. The kiwi erased this year’s gains against the US dollar. The New Zealand currency was weaker against the euro after a report showed that Germany avoided recession. The good news should have helped the kiwi (as the currency is usually nicknamed) against the greenback, but that did not happen. […]
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May 152012
US Dollar Gaining Ground
US dollar is gaining ground after pulling back against the euro earlier. Greenback is now gaining the upper hand against many of its major counterparts. Risk appetite is fading, even with the latest German GDP news, and the US dollar is beginning to eke out some gains against other major currencies. Earlier, the US dollar pulled back against the euro as better data out of Germany […]
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May 152012
UK Pound Drops Against Stronger Euro
UK pound is declining today, especially against the euro, as the latest news indicates that the eurozone is likely to avoid a recession. The pullback in the pound is not limited to its performance against the euro, though. The British currency is also down against the US dollar as Forex traders re-evaluate recent gains made by the pound. UK pound is lower against the euro mainly due to the latest economic news out of Germany. […]
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May 152012
Euro Rebounds on Germany’s GDP
The euro rose today, rebounding from the lowest level in several months, as Germany’s economy grew last quarter, easing worries about the negative impact that the credit crisis has on the eurozone economy. Gross domestic product of the eurozone biggest economy rose 0.5 percent last quarter, according to the preliminary estimate, compared to the consensus forecast of just a 0.1 percent increase. GDP fell 0.2 percent in the previous quarter, sparking fears that […]
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May 152012
EUR/USD Gains on Germany’s GDP, Falls on Greece’s Elections
EUR/USD rose today after a report showed that the German economy grew last quarter, avoiding recession. (Event A on the chart.) The currency pair erased its gains and fell to the lowest level since January as Greece prepares for a new election after political parties failed to form a new government. It is quite possible that Greeks would favor parties that reject austerity measures demanded by the European Union and the International Monetary […]
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