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Day: August 30, 2012
August 302012
Aussie Remains in Decline, Fundamentals Not Supportive
The Australian dollar weakened today as fundamentals were not supportive for the currency both domestically and abroad. The currency was in decline since about mid-August, though it is still far from the lows reached at the beginning of June. Australian building approvals slumped 17.3 percent in July from a year ago on a seasonally adjusted basis. The drop was much bigger than the expected 4.8 percent and the June fall of 1 percent. Analysts think […]
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August 302012
Gains of Euro Lost as Spain Postpones Request for Bailout
The euro gave up its earlier gains today as Spain disappointed the Forex market participants, postponing its request for a bailout. After so much talking about the aid, such move was not well-received by the FX market and the euro lost its ground. There was so much speculation about the rescue for Spain that it was almost taken for granted by some traders. The indebted country is still likely to ask […]
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August 302012
Koruna Hurt by Politics
The Czech koruna dropped today on worries that the government would not be able to implement measures for reducing the nation’s budget deficit because of the political opposition. Prime Minister Petr Necas called for lawmakers to support his plan to raise taxes. He said that the there is no reason for the government to stay in power unless it would able to reduce the current deficit below the limit of 3 percent set by the European Union. […]
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August 302012
Won Falls as Uncertainty Eats Away Risk Appetite
The South Korean won weakened today as uncertainty on the Forex market deterred traders from buying riskier currencies of emerging economies. Investors are looking for Federal Reserve Chairman Ben Bernanke to deliver his speech at Jackson Hole Symposium. Bernanke will speak tomorrow and market participants hope that he would give hints about Fed’s future monetary policy. Yet signs of robust growth in the United States make trader […]
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August 302012
Canadian Dollar Falls Back on Economic Uncertainty
Canadian dollar has moved lower as uncertainty about what Federal Reserve Chair Ben Bernanke will say about the US dollar, and the US economy, tomorrow at the central banker symposium in Jackson Hole, Wyoming. Questions about what’s next are weighing on risk appetite, and that isn’t helping the loonie in currency trading. Loonie tends to do well in an environment of risk appetite and certainty. With the uncertainty surrounding tomorrow’s Jackson Hole […]
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August 302012
Japanese Yen Advances as Concerns about Global Growth Return
Japanese yen is gaining against other majors as concerns about global economic growth return to the markets. Worries about what’s next for the world economy have added to risk aversion, weighing on high beta currencies and making currencies like the yen preferred. Rumors abound that the Federal Reserve won’t make a move in September, and concerns about what Ben Bernanke will say tomorrow in Jackson Hole are starting to provide […]
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August 302012
EUR/USD Gains Ground
EUR/USD gained today, following yesterday’s losses, but the gains were not impressive. The presidents of Spain and France are meeting in Madrid, spurring talks that Spain would ask for a bailout. Traders expect Federal Reserve Chairman Ben Bernanke to speak at Jackson Hole Symposium tomorrow, giving hints about probability of additional quantitative easing. Jobless claims were stable last week, suggesting that QE may be postponed. […]
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August 302012
Dollar Jumps as Ahead of Jackson Hole Symposium
The US dollar rallied against the euro and the Japanese yen yesterday as positive US fundamentals made investors less certain that the Federal Reserve would initiate the third round of quantitative easing. So far, the greenback managed to keep its gains today. The Jackson Hole Symposium stars today and Forex market participants doubt whether Fed Chairman Ben Bernanke would announce QE3 during the meeting. US gross domestic product […]
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