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Day: June 6, 2012
June 62012
US Dollar Falls as Risk Appetite Returns
Risk appetite is returning to the financial markets as the good news about the eurozone takes precedence. As a result, the US dollar is heading lower as Forex traders look for higher yields. However, greenback weakness may not be lasting. For now, the US dollar is heading lower as Forex traders rejoice in the latest plan by the European Union to create a banking union. Now, instead of relying on individual governments to bail out struggling banks, […]
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June 62012
Euro Higher as Optimism Makes an Appearance
Euro is heading higher today as optimism about what eurozone leaders will do to ease the crisis rises. There are hopes that Spain’s situation will prompt action from leaders. The optimism is helping global markets rally, and providing a boost for the euro. The European Central Bank isn’t actually expected to lower interest rates in its decision, but many expect ECB President Mario Draghi to announce that […]
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June 62012
NZ Dollar Climbs as Milk Prices Advance
The New Zealand dollar gained today as milk prices jumped and risk appetite of Forex traders bolstered appeal of currencies tied to prices of commodities. That was the third consecutive session of gains of the currency against the Japanese yen. According to the trade-weighted index on Fonterraâs website, August contract for delivery of milk powder gained 12.3 percent from the May 15 auction. That was the first gain since December 6. Joseph Capurso, a currency […]
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June 62012
Aussie Climbs for Third Session as GDP Growth Beats Forecasts
The Australian dollar advanced today, rising for the third straight session against the US dollar and the Japanese yen, as Australia’s economy grew in the first quarter more than analysts predicted. The currency also rose as Asian shares gained, bolstering demand for higher-yielding assets. Australia’s gross domestic product expanded 1.3 percent in the first quarter of 2012 from the preceding quarter. Additionally, the previous reading was revised upwardly from 0.4 percent to 0.6 […]
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June 62012
EUR/USD Climbs as ECB Ready to Act
EUR/USD climbed today after European Central Bank President Mario Draghi said that central bank’s policy makers “monitor all developments closely” and “stand ready to act”. (Event B on the chart.)The ECB left its main interest rate unchanged at 1.0% today. (Event A on the chart.) Nonfarm productivity fell 0.9% in the first quarter of 2012, according to the revised report, more than the analysts’ forecast (0.6%) and the preliminary estimate (0.5%). The decline […]
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