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Day: October 8, 2012
October 82012
Swissie Gains vs. Euro on Unemployment Rate & CPI
The Swiss franc gained today against the euro after macroeconomic reports showed that the nation’s unemployment rate remained stable, proving expectations for an increase to be wrong, and inflation picked up. The Swissie was down versus the US dollar and the Japanese yen. The unemployment rate was stable at 2.9 percent in September, while forecasters predicted an increase to 3.0 percent. The Consumer Price Index rose to 0.3 percent last month, while it […]
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October 82012
Koruna Slides Ahead of Inflation Report
The Czech koruna slipped today on speculations that tomorrow’s report will show inflation rising slower than estimated by the nation’s central bank as the European crisis and the domestic spending cuts deterred economic growth. Analysts estimated that consumer prices rose 3.4 percent in September, while the central bank’s forecast was 3.4 percent. Inflation was 3.3 percent in August. Economists are worried that the decrease of investment spending and the increase […]
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October 82012
Indian Rupee Falls Before European Leaders Meet
The Indian rupee fell today ahead of the European leaders’ meetings later this week. Forex traders are unsure whether the politicians are capable to reach an agreement and find a way out the persistent economic crisis. German Chancellor Angela Merkel will go to Greece on October 9, hers first visit since the crisis of 2008–09. Spanish Prime Minister Mariano Rajoy will meet with French President Francois Hollande in Paris […]
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October 82012
Loonie Drops against Greenback, Gains against European Currencies
Loonie is heading lower against the greenback today, dropping as safe haven currencies gain the advantage over their riskier counterparts. Canadian dollar is losing ground against the US dollar, but gaining against European currencies, as fears of recession set in. The latest news out of Asia and the eurozone has encouraged risk aversion on the Forex market, and that is sending many high beta currencies lower. The loonie is […]
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October 82012
Japanese Yen Heads Higher on Risk Aversion
Risk aversion is back in the markets, and the Japanese yen is getting a boost today. Even though Japanese markets are closed today, the yen is heading higher on concerns about what’s next for the global economy. Many Forex trader fears were spurred by the latest news out of China. Japanese auto producers in China are reporting sharp drops in sales, and production is being cut in China. The news about China’s […]
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October 82012
Where Will EUR/CHF End 2012? Poll
According to my year-old poll, only about ¼ of this blog’s readers believed that EUR/CHF would hold above the floor level of 1.20 for so long. Since September 2011, the currency pair has been demonstrating some really strange behavior — from the points of view of both technical and fundamental analysis. As can be seen on the chart below, EUR/CHF tried to reverse its long-term downtrend immediately after the Swiss National […]
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