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Day: July 13, 2012
July 132012
EUR/GBP at Lowest Since 2008 as BoE Announces Lending Program
The Great Britain pound jumped today as the Bank of England announced its new lending program that should encourage banks to lend. The currency reached the highest level since 2008 against the euro after Moody’s Investor Service downgraded Italy’s sovereign credit rating. The BoE announced today: The Bank of England and HM Treasury are today announcing the launch of the Funding for Lending Scheme (FLS). The FLS is designed to boost lending to the real […]
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July 132012
Euro Heads Higher After Hitting Two-Year Low against US Dollar
Euro slumped to a two-year low against the US dollar earlier today, starting off with a rather dramatic loss. However, things have begun looking up, at least a little, and the euro is heading higher. Risk appetite has returned to the markets — at least for now. Right now, there is a little optimism as the news in the United States and China share reasonably good news. Even with the losses from the London Whale, JP […]
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July 132012
US Dollar Turns Lower as Optimism Returns
Investors and Forex traders are feeling a little more upbeat today than they have felt in a long time, and it shows. The US dollar is turning lower against its major counterparts, particularly against the euro. The 17-nation currency has bounced off lows not seen for two years, and is seeing better performance. Optimism has returned (at least for now), and that has Forex traders looking to riskier assets […]
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July 132012
EUR/USD Rises as Italy Sells Debt Successfully
EUR/USD rose today, bouncing from the two-year low, after Italy reached its maximum target on today’s bond auction and borrowing costs fell. The news from the United States was mixed as PPI unexpectedly rose, but the preliminary consumer sentiment index was worse than anticipated. PPI rose 0.1% in June, on a seasonally adjusted basis. The increase was small, but the figure was still better than expectations of a 0.5% […]
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July 132012
Canadian Dollar Reaches Record High vs. Euro
The Canadian dollar erased its yesterday’s gains versus the US dollar today and stayed near the record high against the euro as prices for crude oil rose and fundamental data from Canada was positive. The currency was weaker against the Japanese yen that strengthened on the risk aversion sentiment. Crude oil climbed today as the United States threatened to initiate new sanctions against Iran and prosecute companies that helped the Middle Eastern […]
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July 132012
Fears of Slowdown in China Drive Aussie Down
The Australian dollar slid ahead of the report that is expected to show slower growth of China’s gross domestic product. The potential slowdown means less demand for Australian exports. According to expertsâ forecasts, the report would show that China’s GDP expanded 7.7 percent in the second quarter of 2012, compared to the growth by 8.1 percent in the first quarter. That would be a slowest rate of growth in three years. Slower growth of China’s economy […]
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