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Day: June 11, 2012
June 112012
NZ Dollar Falls as Optimism for Spain Proves to Be Fleeting
The New Zealand dollar fell against the Japanese yen and the US dollar, rising versus the euro at the same time, after the announcement of the â¬100 billion rescue package for Spain. Initially, the reaction to the announcement was very positive. The optimistic feelings among Forex traders proved to be short-lived and concerns for the future of the eurozone are mounting again. According to reports, the International Monetary Fund refrained from participating in the bailout, signaling that the international community is […]
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June 112012
Yen Gains as Forex Market Leaves Risk-On Mode
The Japanese yen rose today against most major currencies as the Forex market shifted from risk-on mode to risk aversion. The currency erased its earlier losses that were caused by positive market sentiment. The news that Spain will get a â¬100 billion bailout spurred optimism among investors, but that positive mood was short-lived. Market participants are worried that the rescue would not solve the problems […]
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June 112012
Canadian Dollar Falls Back as Risk Appetite Fades
Canadian dollar received a boost earlier, but the good news has since faded. A short-lived risk rally helped the loonie higher, but now concerns over what’s next for Europe have sent the currency down against the US dollar as uncertainty sets in and increases the demand for safe haven. Once the news of the Spanish bailout was released, riskier assets received a boost. Canadian dollar was part of that rally, benefitting as Forex […]
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June 112012
US Dollar Pulls Back on Spanish Bailout
The announcement that eurozone leaders are ready to bailout Spain is boosting risk appetite today, and sending the US dollar lower. Even though some of the euro’s gains have been pared since the news was announced, greenback is still mostly lower in Forex trading. US dollar is heading down as Forex traders consider that the euro might not be doomed after all. Once again, the volatility […]
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June 112012
Ringgit Gains as Spain’s Bailout Improves Traders’ Mood
The Malaysian ringgit rose today, following other Asian currencies in gains, as the news about a bailout for Spain fueled optimism among investors and attractiveness of higher-yielding assets. The bailout for Spain eased tensions about the situation in the eurozone and made traders look at riskier assets in more favorable light. The MSCI Asia-Pacific Index of stocks gained as much as 1.9 percent. Additionally, Malaysian industrial production advanced 3.2 percent in April from a year ago, while […]
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June 112012
Book Review: Technical Analysis for Dummies by Barbara Rockefeller
Technical Analysis for Dummies is the first For Dummies book on financial trading read by me. There were two main reasons to buy it. The first reason is the author — Barbara Rockefeller, who is a regular contributor to the Currency Trader Magazine and her articles (despite a noticeable pro-US bias) would be worth paying for if the journal had not been free. The second reason is my particular respect for the For Dummies franchise for their […]
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June 112012
Euro Jumps on Bailout for Spain
The euro jumped sharply at the beginning of today’s trading session as Spain is going to receive a rescue from the European Union. The currency weakened after the initial rally, but remained far above the Friday’s close. Spain asked for â¬100 billion aid, becoming the fourth European country that asked for a bailout. The Stoxx Europe 600 Index of equities advanced as much 1.8 percent. The euro opened far above the Friday’s closing level, but […]
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