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Day: May 17, 2012
May 172012
Brazilian Real Rises, Stays Near 2 per Dollar
The Brazilian real rose today, but stayed near the 2 per dollar level as the impact of the European crisis on currencies of emerging markets sapped strength of the Brazilian currency. The real is suffering from risk aversion sentiment among speculators and Brazilian policy makers are not likely to support the currency. On the contrary, the government may be glad to see a weaker currency as President Dilma Rousseff said that she considers the real “extremely […]
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May 172012
Aussie Mixed in Choppy Trading
Aussie is turning in a mixed performance today as choppy markets look for direction, and try to process all of the difficulties happening in the eurozone. On one hand, Aussie is lower against the US dollar as risk aversion makes an appearance. But, on the other, the Australia dollar is gaining against European currencies weighed down by difficulties. Against the US dollar, the Australian dollar is losing ground. US dollar is considered a safe haven in times […]
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May 172012
Eurozone Bank Worries Send Euro Lower
Eurozone bank worries are sending the euro lower today, along with rises to funding costs. Uncertainties about what’s next for Greece and for the eurozone remains, and that is weighing on the euro in Forex trading right now. German bund futures hit record highs today, reaching 143.79 at one point, and Spanish bond yields are on the rise. Spanish borrowing costs continue to be of concern, since it means that the debt […]
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May 172012
NZ Dollar Near This Year’s Low
The New Zealand dollar erased its earlier gains today as the potential Greece’s exit from the eurozone continued to spoil mood of Forex market participants. The currency traded near the lowest level this year. Greece faces a new election on June 17 and traders are worried that it may result in the country leaving the euro-union. The announcement of the European Central Bank that it stopped lending to some Greek banks was not […]
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May 172012
EUR/USD Fluctuates, Attempts to Avoid Fifth Day of Losses
EUR/USD was falling today, heading for a fifth straight day of losses. The currency pair rebounded later and currently stays flat. Macroeconomic data from the United States was surprisingly bad today with the exception of jobless claims that remained stable. Initial jobless claims was at the seasonally adjusted 370k last week, the same rate as in the week before and in line with the forecast of 368k. (Event A on the chart.) Philadelphia Fed manufacturing index […]
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May 172012
Loonie Weakens as Europe Hits Commodity Prices
The Canadian dollar yesterday as the crisis in Europe escalates, damping demand for commodities and commodity-dependent currencies. The loonie trimmed its losses today on good fundamentals in Canada and the United States. Talks about Greece leaving the eurozone intensified after the European Central Bank paused lending to some Greek banks. The ECB said it would resume borrowing after the banks boost their capital: Once the recapitalization process is finalized, and we expect this […]
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