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Day: July 3, 2012
July 32012
Swiss Franc Follows Euro in Gains
The Swiss franc rose today as the euro advanced on positive Forex traders’ mood. The Swissie was higher against the US dollar and the Japanese yen and remained flat versus the currency of the eurozone. The franc was moving in the lockstep with the euro for almost the whole time since it reached the cap set by the Swiss National Bank. In practice, the ceiling became a peg in everything but a name. That may hurt the Swiss currency as the expected interest rate […]
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July 32012
US Dollar Softens as Factory Orders Rise
US dollar is softening today, thanks to better than expected economic news. Factory orders rose more than expected, and that is providing a bit of a boost for markets after yesterday’s disappointing manufacturing index data. Greenback has turned lower, thanks to the better news, and to a bit of risk appetite, as shown by modestly higher equity markets. The factory orders report for may has a lot to do with it. New orders […]
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July 32012
Canadian Dollar Gets Boost in Forex Trading
Canadian dollar is getting a boost in Forex trading today, heading higher as oil prices rise, and at the prospect of more quantitative easing in Europe, as well as stimulus in China. With other currencies on the verge of weakening in the name of economic stimulus, the loonie is well placed to make some gains. Higher oil prices are one of the biggest helps to the Canadian dollar today. Loonie is a commodity currency tied to oil prices. Oil is […]
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July 32012
Yen Drops as Stocks Rallies on Hopes for Interest Rate Cuts
The Japanese yen weakened today as global stocks rallied on speculations that central banks of developed nations would cut interest rates to bolster slowing growth of their economies. Most analysts agree that the European Central Bank would decrease its borrowing costs. The US Federal Reserve disappointed traders on its last policy meeting, refraining from a third round of quantitative easing, but the US economy continues to show signs […]
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July 32012
Won Gains as ECB Expected to Cut Interest Rates
The South Korean won advanced today on speculations that the European Central Bank would decrease its main interest rate, bolstering the eurozone economy and improving prospects for exports of emerging economies. Optimism, caused by the European summit last week, faded and higher-yielding currencies need a news bullish story to keep their gains. The won has found such support in the form of the ECB monetary policy meeting later this week. The central bank […]
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July 32012
Aussie Retreats as Market Mood Worsens
Friday’s euphoria has gone from the Forex market and riskier commodity currencies retreated, following the sharp rally in the last trading day of the previous week. The Australian dollar was among losers. Not surprisingly, the Aussie managed to outperform the euro. Good mood, caused by the last week’s European summit, was gone from the FX market and traders looked at the eurozone in less positive light. Finland’s government stated that it considers bond […]
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