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Day: September 5, 2012
September 52012
Minister Says No Need for Additional Measures to Weaken Swiss Franc
The Swiss franc rose against the US dollar and dropped versus the euro today. Swiss Economy Minister Johann Schneider-Ammann said that there is less pressure for policy makers to introduce additional measures to weaken the Swiss currency. Previously, the Swiss government was considering rather drastic measures to keep the franc week, including capital controls. Now, it looks like there are fewer chances for such measures to be implemented. […]
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September 52012
Bank of Canada Holds Rates, Loonie Slumps
The Canadian dollar sank today after the Bank of Canada refrained from raising its interest rates. The currency was weaker even as the statement after the monetary decision was rather hawkish and reiterated that an interest rate hike is possible in the future. The Canadian central bank kept its main interest rate at 1 percent today. Analysts said that the decision was expected and borrowing costs are not likely to rise […]
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September 52012
Japanese Turns Mostly Lower on Risk Appetite
Japanese yen is turning mostly lower today, slipping as risk appetite makes an appearance and favors high beta currencies. Earlier, the yen saw some gains on concerns about the global economy, as well as uncertainty about Europe. Now, though, a bit of optimism has returned to the markets, and the yen is heading lower as high beta currencies see some demand. Eurozone PMI data continues to show a slump, indicating recession. The worries […]
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September 52012
US Dollar Index Slips as ECB Rumors Fly
US dollar index is slipping a bit as ECB rumors about how more liquidity will find be injected into the eurozone with out increasing the money supply. Greenback is also a bit lower as that position is contrasted with the possibility of QE3 for the US economy. A lot is expected to happen this coming month. Tomorrow the ECB and BOE make economic policy announcements as they announce interest rate […]
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September 52012
Canadian Dollar Stands Still Ahead of BoC Rate Decision
The Canadian dollar fell against its US counterpart yesterday, but managed to outperform the euro and the Japanese yen. Today, the Canadian currency remained near yesterday’s close, waiting for Bank of Canada’s rate decision. The fall of the loonie against the greenback can be explained by the negative data from the United States. The USA is Canada’s major trading partner, therefore the performance of the US economy has a great impact on Canada’s economy and currency. The data […]
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