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Day: September 11, 2012
September 112012
CAD Touches 13-Month High vs. USD
The Canadian dollar touched 13-month high against its US counterpart today as Forex traders hoped that the Federal Reserve will start the third round of asset purchase program, known as quantitative easing. Overall, the currency was flat today. The Fed will start the two-day policy meeting tomorrow. The central bank will announce its decision on September 13. Investors increased their bets on stimulus from the Fed after poor […]
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September 112012
Zloty Gains as Investors Show Interest in Polish Assets
The Polish zloty strengthened today after JPMorgan Chase & Co. changed its view on the currency and as yesterday’s debt auction ended with a good result, showing that investors are interest in nation’s assets. The yield on the Polish bonds maturing in 2023 reached the record low of 3.175 percent. Investors bought as much as $2 billion of securities on yesterday’s bond auction. JPMorgan improved its view on the zloty from underweight to neutral. USD/PLN […]
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September 112012
Improving UK Trade Balance & House Prices Make Sterling More Appealing
The Great Britain pound jumped against the US dollar, reaching the highest level in 4 months, today after macroeconomic reports showed that trade balance and house prices improved, easing fears about the stagnating UK economy. The Office for National Statistics reported that the trade balance deficit shrank from £10.1 billion in June to £7.1 billion in July. The house price balance was at -19 in August, according to the Royal Institution of Chartered […]
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September 112012
US Dollar Down on Prospect of More Easing
US dollar is losing ground today, especially against the euro, as Forex traders expect more easing from the Federal Reserve. The situation in the United States is one of uncertainty, and that is weighing on the US dollar, and providing the euro with the upper hand. Greenback is down again as Forex traders await the Fed announcement tomorrow. Many expect that Ben Bernanke will announce some more easing for the US dollar, […]
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September 112012
Euro Surges on Expectations that Germany’s High Court will Back the ESM
Euro is heading higher today, gaining dramatically as Forex traders expect Germany’s high court to back the European Stability Mechanism, which is also referred to as the eurozone’s bailout fund. The German court is expected to hand down a ruling on whether or not the ESM is compatible with the German constitution, and there is speculation that the answer will be favorable to the bailout fund. As a result, many are expecting further support […]
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September 112012
EUR/USD Rises as Traders Wait for Decision of German Court
EUR/USD climbed today as traders wait for the German Constitutional Court to decide whether Germany should participate in the permanent bailout fund. The ruling will occur tomorrow. Yesterday, the currency pair dropped as Greece failed to secure the next portion of the bailout. The troika refused to give the aid and change the conditions on the bailout. Trade balance was $42.0 billion in July, little changed from the June estimate, whole predictions pointed at $44.2 billion. (Event A on the chart.) […]
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September 112012
NZ Dollar Reduces Losses Ahead of Fed Meeting
The New Zealand dollar gained against its US peer and stayed flat versus the Japanese yen today, following yesterday’s losses. It looked like optimism about the coming policy meeting of the Federal Reserve outweighed the negative news from Europe and China. China’s falling imports hurt prospects for New Zealand assets as the China is the second-biggest trading partner of New Zealand. Additionally, the decline of imports is negative for Australia — […]
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September 112012
Loonie Gains on Bank of Canada Expectations
The Canadian dollar got a bit of a boost earlier today, gaining after remarks made by the governor of the Bank of Canada. Divergence between central banks is leading to gains for the loonie. Bank of Canada Governor Mark Carney mentioned last week that there is a possibility that rates will have to go up in Canada. The economy has been showing signs of better than expected growth recently, and Carney thinks that perhaps […]
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