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Day: June 12, 2012
June 122012
Aussie Finds Support against Majors
Aussie is finding support against other majors today, reversing earlier losses. Thanks to a little boost from gold, and Australia’s connection to the Chinese economy, Aussie is eking out modest gains. Australian dollar headed lower earlier today, dropping as risk aversion set in. With Spanish bond yields rising, and Fitch warning that more downgrades could be coming for AAA countries in the eurozone, high beta […]
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June 122012
Euro Struggles Continue on Debt Concerns
Euro continues to struggle as debt concerns remain in the spotlight. The ratings agency Fitch has issued a warning that downgrades are possible for the AAA nations in the currency region. Additionally, Nouriel Roubini is calling for lower taxes and higher salaries to stimulate the economy in Europe. Right now, eurozone leaders look unable to handle the crisis, and that is weighing on the euro. It is little surprise that the euro is having trouble right […]
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June 122012
Swedish Krona Rises Even After CPI Slows
The Swedish krona was rising today even after a report that showed nation’s inflation slowing. The crisis in the eurozone has hurt Sweden’s economy, but economists say that the economic situation in the country itself is beginning to stabilize. Statistics Sweden reported today that the Swedish inflation rate fell to 1.0 percent in May from 1.3 percent in April. That was in line in analysts’ expectations. The currency has dropped sharply […]
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June 122012
Yen Falls as IMF Considers It Overvalued
The Japanese yen fell today as the International Monetary Fund voiced opinion that the currency is overvalued and Japan’s monetary authorities should take steps to weaken the yen. The IMF stated that the Japanese currency is “moderately overvalued”. David Lipton, the First Deputy Managing Director of the IMF, suggested that Japan’s policy makers should perform an intervention. Losses of the yen were limited as demand for safety rises on the Forex market. USD/JPY was […]
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June 122012
EUR/USD Pares Losses
EUR/USD fell today, but erased its losses even though traders were pessimistic. US fundamentals were somewhat unfavorable, but not much worse than expected. Export and import prices fell in May. Export prices were down 0.4%, while they grew at the same rate in April. Import prices fell 0.1% last month, matching forecasts. The April value was revise to zero change from a 0.5% […]
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