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Day: June 29, 2012
June 292012
US Dollar Pulls Back on Better News Out of Europe
Today, it’s all about the better news out of Europe. US dollar is pulling back against high beta currencies as the news that the EU summit might have accomplished something substantial spurs risk appetite. Measures to bring down Spanish and Italian bond yields have been agreed upon, including the ability to access European bailout funds without the need to conform to austerity measures. Additionally, a European banking union […]
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June 292012
Koruna Rallies Even After Central Bank Lowers Interest Rates
The Czech koruna rallied today, profiting from the general positive sentiment on the Forex market, even after the Czech central bank decided to lower interest rates. The Czech National Bank lowered its key interest rate by 25 basis points to 0.5 percent. The bank explained its decision by negative outside influence and weak economic activity. Yet the positive impact of the European summit erased all negativity from the FX market and allowed […]
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June 292012
Japanese Yen Slides as Risk Appetite Rises
Japanese yen is sliding as risk appetite rises on unexpectedly good news out of Europe. The fact that there has been something resembling progress has led to an increase in risk appetite, and the yen is falling as Forex traders look for better yields, and stop worrying so much about finding safe haven. Herman Van Rompuy, President of the European Council, announced that Spanish banks will be seeing better […]
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June 292012
Euro Rebounds as Summit Positively Surprises Traders
The euro sharply rebounded today as the European Union summit surprised Forex market participants as some positive results already came out, giving hope that the meeting would not consist of just empty talks. The lawmakers eased loan term for Spanish banks, a move that may result in dropping yield for Spanish bonds. Additionally, Herman Van Rompuy, the President of the European Council, suggested allowing banks direct access to the European Stability […]
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June 292012
EUR/USD Surges as Summit Boosts Optimism of Traders
EUR/USD demonstrated a huge jump today as the European summit has brought some good news, including easing of loan conditions for Spain’s banks and a proposition of direct access for banks to the bailout fund, which should lower debt burden on governments. Previously, traders were very skeptical about the meeting and signs that it may result in some meaningful actions from European lawmakers were a real surprise. The surprise resulted in very positive […]
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June 292012
Pound Drops as Britain in Recession
The Great Britain pound weakened as the United Kingdom entered recession, bolstering the case for the Bank of England to ease its monetary policy further to aid the struggling economy. Britain’s gross domestic product shrank 0.3 percent in the first quarter of 2012, with the same rate as in Q4 2011. Two consecutive quarters of deteriorating GDP means the economy has entered recession. Other economic indicators were also bad. The Nationwide House Price Index […]
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