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Day: September 17, 2012
September 172012
Euro Pulls Back and Consolidates Before Heading Higher
Euro is pulling back a bit today, consolidating recent positions and looking for a solid level of support. The main concern right now centers around what’s happening with embattled eurozone countries. Focus has shifted away from the European Central Bank, and plans for bond buying, to the actual situation on the ground in embattled eurozone countries. Instead of looking at the European Stability Mechanism, there are concerns about what is happening in Spain […]
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September 172012
UK Pound Gains as Forex Traders Dial Back the Euphoria
Last week, Forex traders showed a great deal of euphoria over developments in Europe and in the United States. Germany’s tacit agreement to the ESM, along with the announcement from the Fed that QE3 would start in the United States, pushed markets higher. Now, though, investors and traders are taking stock and the dynamic has changed a bit. Instead of favoring the eurozone and the single currency, the new state of affairs favors other currencies. The UK pound […]
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