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Day: October 11, 2012
October 112012
Yen Depressed as FX Market Casts Off Negative Sentiment
The Japanese yen weakened today as the positive mood of Forex traders damped demand for safety provided by the currency. Even the downgrade of Spain’s credit rating was not able to bolster the yen. The FX market was in risk-on mode by the end of today’s trading session and that put pressure on the yen. The currency is considered to be safe and demand for the yen tends to weaken as mood of traders’ improve. The Japanese currency was stronger at the beginning of the session as Standard […]
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October 112012
Canadian Dollar Climbs After Trade Deficit Narrows
The Canadian dollar rose against safer currencies today, though fell against some riskier ones, as the risk sentiment on the Forex market was positive for the loonie. Canada’s trade balance deficit shrank more than was expected, adding to the appeal of the currency. Canada’s trade balance deficit narrowed from C$2.5 billion in July to $1.3 billion in August. The projected deficit was C$1.8 billion. The United States, Canada’s neighbor and the biggest trading […]
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October 112012
Could the Euro Be Threatened by Rajoy’s Refusal to Ask for Aid?
One of the big questions being asked right now is this: What’s next for the euro? While many Forex traders act as though the eurozone will pull through, the truth is that there has been no real progress in the debt crisis situation, and no plans for preventing something similar from happening in the future. The big concern right now is what happens if Spanish Prime Minister Mariano Rajoy […]
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October 112012
Is the US Dollar Winning the Race to the Bottom?
Greenback is heading lower again today, dropping as risk appetite comes into focus. But, even without the good news that is driving risk appetite right now, there is a good chance that the US dollar would be showing weakness, thanks in large part to the current race to the bottom for currencies. Right now, some currencies are in a race to the bottom as countries attempt to stimulate their economies by devaluing […]
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October 112012
Rising Employment Positive for Australian Dollar
The Australian dollar rose for the fourth consecutive session against its US counterpart and advanced versus the Japanese yen today after the employment data showed that Australian employers added last month more jobs that was estimated by analysts. Seasonally adjusted employment increased by 14,500 in September, following the drop by 9,100 in August. The forecast change was 5,100. At the same time, the unemployment rate increased by 0.3 percentage point to 5.4 percent. […]
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October 112012
Swedish Krona Dips vs. Euro on CPI
The Swedish krona declined against the euro today as consumer price inflation last month was lower than analysts estimated, raising worries about the impact of the crisis on the nation’s economy. The Consumer Price Index fell from 0.7 percent in August to 0.4 percent in September. Market participants have hoped for 0.6 percent. Worries about ability of Europe to emerge from crisis also weighed on the krona. EUR/SEK was up from 8.6274 […]
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October 112012
EUR/USD Rebounds After Falling on Spain’s Downgrade
EUR/USD climbed today on hopes that Spain will ask for a bailout. Earlier, the currency pair dipped as Standard & Poor’s cut the nation’s credit rating. Demand for the dollar as a safe haven decreased after US unemployment claims unexpectedly fell. US trade balance deficit was $44.2 billion in August, matching analysts’ estimates, up from $42.5 billion in July. (Event A on the chart.) Initial jobless claims fell to 339k last […]
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