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Day: July 26, 2012
July 262012
CAD Gains vs. USD & JPY, Falls vs. EUR
The Canadian dollar climbed against the US dollar and the Japanese yen after European Central Bank President Mario Draghi promised that the central bank will support the euro. As one could expect, the euro outperformed the Canadian currency after that promise. Draghi said that “the ECB is ready to do whatever it takes” to keep the shared European currency in place. He also addressed the issue of rising borrowing costs: To the extent […]
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July 262012
Pound Climbs as Draghi Spurs Risk Appetite
The Great Britain pound surged today against the US dollar and the Japanese yen after European Central Bank President Mario Draghi said that the Bank would take steps to support the currency. The sterling even managed to gain on the euro. Draghi said today: Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough. The comment led to speculations whether […]
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July 262012
US Dollar Drops in Forex Trading
US dollar is lower in Forex trading today, dropping as traders get excited about Mario Draghi’s comments. The ECB president vowed to save the euro, and that has risk appetite surging, and Forex traders see little need for a safe haven like the US dollar in all the eurphoria. Mario Draghi‘s comments are driving the markets higher today, and that includes high beta currencies. US dollar is down as a result. […]
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July 262012
Euro Goosed Higher on Draghi Comments
Euro has jumped higher, goosed by the comments from European Central Bank president Mario Draghi. The ECB’s commitment to the euro is helping the 17-nation currency against the US dollar, and helping spur a bit of risk appetite. Mario Draghi insisted that the ECB will do “whatever it takes” to prevent the euro from disappearing. Draghi’s confident tone is helping Forex traders decide that the euro will be saved, […]
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July 262012
Yen Threatened by Deflation
The Japanese yen fell against the euro today as demand for a safe haven waned, while investors feared that Japan remains under threat of deflation. It looks like the speculations about the ESM getting a banking license brought the Forex market away from a fear mode. That is not good for the yen, which also suffers from deflation in Japan. The Corporate Services Price Index (which is considered a leading indicator […]
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July 262012
Swedish Krona Rises with Improving Consumer Confidence
The Swedish krona gained after the reports showed that consumer confidence improved and unemployment grew slower than expected. The National Institute of Economic Research reported that the consumer confidence index rose to 5.6 in July from 3.1 in June. The unemployment rate rose by 0.1 percentage point to 8.8 percent last month. The expected rate was at 8.9 percent. USD/SEK fell from 6.9659 to 6.9306 as of 10:29 GMT today. If you have […]
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July 262012
EUR/USD Jumps as Draghi Promises to Support Shared European Currency
EUR/USD climbed today, rising for the second day, after European Central Bank President Mario Draghi said that “the ECB is ready to do whatever it takes to preserve the euro”. Traders were happy to hear such reassurance and flocked to the shared 17-nation currency. The US data was mixed today. Most notably, unemployment claims fell much more than was hoped for. Initial jobless claims was at the seasonally […]
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