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Day: July 27, 2012
July 272012
US Dollar Lower Against European Currencies
US dollar is lower today, heading down against European currencies as risk appetite returns and Forex traders look for better gains. US dollar is down especially against the euro as expectations rise concerning the upcoming ECB meeting. There are expectations that the ECB could buy Spanish and Italian debt to keep yields lower, and prevent more problems. With the ECB pledging full support to the euro, and Germany pledging […]
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July 272012
Euro Extends Yesterday’s Gains
Euro is extending yesterday’s gains in Forex trading today. Yesterday, the euro got a boost as ECB President Mario Draghi said that everything possible would be done to save the euro. The news has heartened investors and Forex traders around the world and encouraged risk appetite, helping the euro. Trading is a bit choppy today, but EUR/USD has risen above the 1.2300 mark, and is extending its gains. A lot […]
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July 272012
US Economic Growth Slows, EUR/USD Rallies for Third Day
The positive mood on the Forex market allowed the euro to rally for the third consecutive trading day. At the same time, the US economic indicators worsened. The data was not very bad by itself (the situation in the United States is certainly better than in the eurozone), but showed that economic growth is slowing. US GDP rose 1.5% in the second quarter of 2012 from the first quarter, according to the advance estimate, matching forecasts exactly. The growth […]
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July 272012
Ringgit Rises on Easing Speculations
The Malaysian ringgit rose today on speculations that central banks of developed nations would ease their monetary policies to cope with economic slowdown. Many analysts expect that the chief of the European Central Bank, who promised yesterday to support the euro, would lower interest rates on the next policy meeting. The Federal Reserve will announce its monetary decision August 1 and the recent stream of poor fundamental data suggests that […]
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July 272012
Won Climbs as Current Account Reaches Record High
The South Korean won got a boost from favorable domestic fundamentals today. The South Korean current account widened to a record and the nation’s economy continued to grow. The Bank of Korea reported that the current account surplus expanded to $5.8 billion in June from $3.6 billion in May. That may be not good for the won in a long run as the surplus was a result of declining imports and constrained consumer demand, which is bad for economy. […]
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