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Day: July 23, 2012
July 232012
Global Data Negative for Aussie, Can It Find Support from Domestic Fundamentals?
The Australian dollar fell today amid growing concerns that the global economy is faltering. Prospects for the Australian currency are not bad, though, as the domestic fundamentals should support the Aussie. Higher-yielding currencies were not in favor of traders today and the Australian dollar (often called “Aussie”) was not an exception. Europe is the main source of negativity on the Forex market, but China also added worries because of signs of economic slowdown. […]
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July 232012
Europe Remains Source of Fear, CAD Still Under Pressure
The Canadian dollar was weak today. The explanation for the poor performance was simple: worries about Europe and its debt gain strength again. The Canadian dollar fell even versus the euro, which itself was under pressure from the negative sentiment. The yield of Spanish bonds surged to 7.5 percent. It broke above the 7 percent level that is considered important as other indebted countries asked for a rescue after their […]
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July 232012
US Dollar Gains as Risk Aversion Rises
US dollar is heading higher today, gaining as risk aversion rises, and concerns about the future of the eurozone dominate world markets. Greenback is getting a boost as a safe haven as Forex traders shun high beta currencies. Risk aversion has taken complete control of world markets today. Forex traders are turning to safe havens like the US dollar as the VIX shows an increase in volatility, and as concerns about Europe take […]
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July 232012
Euro Below 1.21 as Concerns for a Major Spanish Bailout Mounts
It’s been two years since the euro has hit levels seen today. Concerns about the need for a major Spanish bailout are on the rise, and that is dragging down the euro. Spain would be the fourth eurozone country to ask for a major bailout — an indication that the sovereign debt crisis is still not under control. Euro is falling as concerns about what’s next for the eurozone plague the 17-nation currency. In Spain, […]
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July 232012
Indonesian Rupiah Weakens on China, Rebounds
The Indonesian rupiah fell today, before rebounding, as worries about the economic slowdown in China made investors reluctant to buy risky currencies. The currency traded at its opening level after the earlier drop. Song Guoqing, an adviser in China’s central bank, said last week that growth may slow to 7.4 percent in the third quarter of 2012 from 7.6 percent in the previous quarter. China is the second-biggest economy in the world and its performance […]
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July 232012
Ruble Drops as Yield on Russian Debt Rises
The Russian ruble dropped today as the yield on Russian bonds grew amid concerns that the global economy is slowing and demand for Russia’s exports would wane. Prices for crude oil, the main export commodity of Russia, fell amid fears of a double-dip recession. Brent grade of crude lost 1.9 percent to $104.80 per barrel in New York today. The Russian currency may get a boost as Russian companies are going to convert their […]
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