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Day: June 8, 2012
June 82012
Aussie Erases Losses as Market Sentiment Turns to Optimism
The Australian dollar fell against most major currencies today, but reversed losses by the end of the session as attractiveness of riskier assets returned after market sentiment improved somewhat. Investors’ mood was downbeat at the beginning of today’s trading session, but it brightened by the end of the day. It was not full-fledged risk-on sentiment, but there was definitely less negativity on the Forex market and commodity currencies profited from that. The weekend […]
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June 82012
Loonie Suffers from Poor Canadian Employment Data, Recovers
The Canadian dollar dropped against its US peer and the Japanese yen as a set of poor fundamental data was released today. The currency managed to trim its losses against the yen and advance versus the greenback as well as the euro. Canada’s employment was unchanged (demonstrated zero percent change) in May. Canadian employers added just 7,700 jobs last month, compared to 58,200 in the month before. Trade balance posted an unexpected deficit of C$367 […]
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June 82012
US Dollar Heads Higher on Return of Risk Aversion
US dollar is heading higher today as risk aversion returns to the markets and investors and Forex traders look for safe haven assets. Global economic uncertainty has many wondering what will happen next, and even the threat of QE3 in the United States isn’t keeping the dollar down today. Greenback is lower today, thanks to risk aversion. Forex traders are looking for capital preservation more than yield, and that means […]
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June 82012
Euro Falls as Global Growth Concerns Return
Euro is falling once again, thanks to concerns with global growth. Economic weakness in the eurozone, as well as another downgrade for Spain, are weighing on the euro. It’s not helping, either, that growth in the rest of the world is rather toned down as well. The big news today, of course, is that Fitch dropped Spain’s credit rating to just two notches above junk status. Concerns about Spain’s banking system […]
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June 82012
EUR/USD Falls as Spain Expected to Require Rescue
EUR/USD dropped today as eurozone finance ministers will meet on the weekend to discuss whether Spain needs aid. The prospect for fueled fears that the crisis is spreading across the eurozone and traders fled the endangered shared 17-nation currency. US trade balance deficit was $50.1 billion in April, in line with analysts’ expectations of $49.9 billion. The March deficit was revised to $52.6 billion from $51.8 billion. (Event A on the chart.) Wholesale […]
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June 82012
Ruble Goes Down with Crude Oil as Traders Cautious
The Russian ruble declined today as prices for crude oil, the main export of Russia, fell after Federal Reserve Chairman Ben Bernanke made traders cautious, mentioning threat to the US economy from fiscal tightening and Europe’s debt. Brent grade of crude oil slumped as much as 1.6 percent to $98.34 per barrel. The yield on Russian bonds maturing in 2022 went up by two basis points to 4.071 percent. The warning from Bernanke […]
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June 82012
Mexican Peso Retreats as Bernanke Evaporates Optimism
The Mexican peso retreated today, after reaching the highest level in more than two weeks against the US dollar yesterday, as comments of the Federal Reserve Chairman Ben Bernanke muted optimism of Forex traders. Bernanke warned about the negative impact of the crisis in Europe. He also mentioned a fiscal tightening, saying “a severe tightening of fiscal policy at the beginning of next year that is built into current law — the so-called fiscal […]
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