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Day: October 10, 2012
October 102012
GBP Higher vs. USD, Loses Gains vs. EUR & JPY
The Great Britain pound was mixed today. The sterling rose a little versus the US dollar, but erased its earlier gains against the euro and the Japanese yen. The European crisis increases attractiveness of the UK currency, but the domestic problems limit investors’ interest in the pound. Prime Minister David Cameron talked about the necessity of the United Kingdom to act quickly if it wants to keep up with the world economy. Cameron said: […]
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October 102012
IMF Comments Weigh on Euro
The latest comments from the International Monetary Fund are weighing on the euro right now, turning small gains into losses as Forex traders consider the future of the eurozone, and what, realistically, needs to happen in order to solve the European debt crisis. Euro is mostly lower right now, thanks to the latest information from the IMF. The International Monetary Fund has stated that Europe’s banks may need to sell more assets through […]
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October 102012
US Dollar Moves Sideways as Other Currencies Look for Gains
US dollar is moving sideways today, thanks to surprisingly good earnings news from some quarters, and many treating the European debt crisis as though it is almost resolved. Surprisingly, aluminum giant Alcoa beat earnings estimates and that has some thinking that maybe China isn’t having the problems that everyone seems to think it is. Earnings season is underway, for the United States, and the tone is […]
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October 102012
IMF Forecast Hurts FX Market, Rupee Weak
The Indian rupee weakened today as the growth projections of the International Monetary Fund hurt the market sentiment, deterring investors from riskier currencies of emerging economies. The IMF World Economic Outlook “presented a gloomier picture of the global economy than a few months ago”. Regarding India, the forecast said: The outlook for India is unusually uncertain: for 2012, with weak growth in the first half and a continued investment slowdown. On the bright side, the situation is expected […]
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