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Day: October 16, 2012
October 162012
Australian Dollar Rallies Despite Dovish Minutes
The Australian dollar rose against safer currencies, but retreated against the euro today as the sentiment on the Forex market was positive for commodities with higher yield. The minutes of the last central bank’s policy meeting were a negative factor for the currency. Some experts speculate that Spain may actually avoid asking a bailout. And the European Central Bank may refrain from buying bonds under its asset-purchase program. Adding to the positive mood, […]
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October 162012
US Dollar Pulls Back as Risk Appetite Returns to the Forex Market
US dollar is heading lower today, thanks to a solid injection of risk appetite to the currency markets. All the news seems to be good, and that means that high beta currencies are in demand while the US dollar softens. Greenback is down today as risk appetite returns to the market, boosting high beta currencies, and, particularly, the euro. Most of the focus is on the eurozone right now. Angela Merkel, Germany’s Chancellor, […]
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October 162012
Spain Bailout Rumors Boost Euro
Once again, there are rumors that a Spanish bailout is imminent. The news is sending the euro higher, particularly against the US dollar. According to a story in the Wall Street Journal, a high-placed Spanish official is claiming that the embattled country is on the verge of formally asking for a bailout. The article also indicates that rather than receiving a straight bailout, Spain could end up with a line of credit. That way, […]
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October 162012
Hopes for Growth Buoy Malaysian Ringgit
The Malaysian ringgit, as well as other Asian currencies, advanced today following yesterday’s report that showed an increase of US retail sales. Hopes that China’s slowdown will be not as severe as predicted also buoyed currencies of Asia’s economies. US retail sales grew 1.1 percent in September, beating analysts’ forecasts. Other economic report from the United States this week are also expected to support the positive traders’ […]
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October 162012
New Zealand Inflation Slowest Since 1999, NZD Hurt
The New Zealand dropped today after data showed that New Zealand’s inflation last quarter was the slowest in more than a decade. The negative report led to speculations about an interest rate cut from the nation’s central bank. The New Zealand Consumer Price Index rose 0.8 percent in the third quarter of 2012 from a year ago. That was the slowest inflation rate since the fourth quarter of 1999. Consumer prices […]
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October 162012
Yen Drops for Fourth Day Amid Risk Appetite
The Japanese yen was weaker today, falling for the fourth consecutive trading session, as the outlook for economic growth in the United States damped demand for the safety of the Japanese currency. Analysts predict that today’s report will show that US industrial production expanded 0.2 percent in September. Tomorrow, the number of housing starts will be released and it is expected to be at 770,000, a small increase from the previous reading. Yesterday, a report showed […]
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