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Day: August 7, 2012
August 72012
Positive Fundamentals in Norway Benefit Krone
The Norwegian krone advanced today after the set of good macroeconomic reports from the country added to the attractiveness of the currency. The attractiveness that was boosted further by the positive sentiment on the Forex market. Norwegian factory output rose 0.8 percent in June from May, when it advanced 0.6 percent. The actual value was above the forecast of 0.4 percent. Industrial production jumped as much as 4.3 percent last month, year-on-year, following the 1.7 […]
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August 72012
US Dollar Pulls Back as Risk Appetite Makes an Appearance
US dollar is pulling back today, thanks in large part to the appearance of risk appetite in the financial markets. Risk appetite has been building since the end of last week, and the greenback is lower as Forex traders look for better returns for their money. Toward the end of last week, the situation improved for global markets. US payroll data showed that the economy added more jobs than expected in July, and the ECB announced […]
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August 72012
UK Pound Gets a Little Help from Economic Data
UK pound is getting a bit of a boost today, thanks to the latest industrial production data. There was a decline, true, but the decline in production for June was less than expected. The news, along with a bit of risk appetite, is helping the UK pound against low beta currencies like the US dollar and the Japanese yen. Industrial production in the United Kingdom declined by 2.5 per cent, month over month, in June. […]
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August 72012
Won Gains on Brighter Outlook for Europe
The South Korean won appreciated today as new hope emerged for the eurozone and traders felt confident enough to seek currencies with higher yield. It looks like Germany yielded to the pressure from of those who were not happy with its opposition to the involvement of the European Central Bank in rescuing the eurozone. Germany’s support of the ECB bond-buying program boosted the market sentiment significantly. There are rumors that the International Monetary Fund […]
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August 72012
Australian Dollar Rallies After RBA Keeps Policy Unchanged
The Australian dollar advanced today as the Reserve Bank of Australia left its key cash rate unchanged. Such decision was expected by market participants, but was welcomed nevertheless as it means that the RBA is rather confident in economic growth. The RBA left its main interest rate at 3.5 percent today. Bank’s Governor Glenn Stevens explained that the global economy looks a little better, but Europe remains […]
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August 72012
Yen Gains Even as Risk Appetite Persists on FX Market
The Japanese yen rallied yesterday and retained its strength today ahead of the Bank of Japan’s policy meeting later this week. Risk appetite ruled the Forex market, but that did not deter the yen from rising higher against other most-traded currencies. FX traders are waiting for the European Central Bank to start its bond-buying program that should alleviate some of the euro-region problems. Investors were especially happy […]
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