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Day: September 12, 2012
September 122012
Falling Unemployment Claims Improve Outlook for Pound
The Great Britain pound rallied to the highest level since May against the US dollar and rose versus the Japanese yen today after UK unemployment claims unexpectedly fell last month. The currency gained even as the unemployment rate rose. The Office for National Statistics reported that the jobless claims fell 15,000 in July, while a small increase was expected. At the same time, the unemployment rate went up by 0.1 percentage point to 8.1 […]
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September 122012
Ringgit Gets Boost from Stimulus Bets
The Malaysian ringgit climbed together with other Asian currencies today as investors anticipated stimulus from the central bank of the United States and China. Stimulus bets resulted in the optimistic sentiment on the Forex market. The Federal Reserve will announce its monetary policy decision tomorrow and speculations about the decision were driving the FX market this week. Traders hope for some form of stimulus and such outlook helped currencies of emerging markets. On top […]
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September 122012
USD/CHF Falls, EUR/CHF Rises
The Swiss franc fell today against the euro after the German court decision boosted the shared European currency. The Swiss currency followed the euro in gains against the US dollar. The Swiss National Bank will announce its monetary decision after the policy meeting tomorrow and most market participants expect the central bank to reiterate its pledge to keep the cap of 1.20 francs per euro. The bank has kept the ceiling for a year despite […]
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September 122012
US Dollar Slips on QE3 Expectations
US dollar is heading a little bit lower today, slipping as news points to easing for the greenback. The German court ruling gave the euro a boost, and the expectation that the Federal Reserve will announce the possibility of more stimulus is undermining the greenback a bit. The members of the Federal Open Market Committee are starting a two-day meeting today, and tomorrow Ben Bernanke will announce a policy position. Many expect him to continue to say that […]
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September 122012
Germany Approves Eurozone Bailout Fund, Lifting Euro
Germany’s highest court ruled today that it will not block the eurozone’s bailout fund. With this tacit approval of the 700 billion European Stability Mechanism, the ECB is ready to move forward with crisis-fighting action as it deems necessary. The news of ruling gave the euro a boost, especially against the US dollar. Forex traders are waiting now for the news from the Federal Reserve meeting. Ben Bernanke is […]
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September 122012
EUR/USD Surges as Court Allows Germany’s Participation in ESM
EUR/USD jumped today to the highest level since May as the German Constitutional Court agreed that the nation may participate in the European Stability Mechanism. The dollar was weak as Moody’s Investor Service warned that the United States may lose the top Aaa credit rating. Today’s US data was mildly positive, though worse than analysts anticipated. Export and import prices rose in August. Import prices advanced by 0.7%, while […]
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September 122012
Aussie Extends Yesterday’s Rally
The Australian dollar gained yesterday and extended its rally today as traders wait for the policy decision of the Federal Reserve, hoping that the US central bank will announce another round of monetary easing. Speculations about the policy meeting of the Fed drive the Forex market this week. Investors hope for stimulus and optimism support higher-yielding currency. Outlook for the eurozone is not that bad, at least talks about a breakup of the currency union receded. […]
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