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Day: October 26, 2012
October 262012
Aussie Reaches Four-Week High vs. Euro
The Australian dollar rose against its US counterpart and closed at the highest level in four weeks versus the euro on positive data from the United States. The Aussie fell against the Japanese yen as drop of stocks reduced investors’ demand for riskier assets. The MSCI Asia Pacific Index of stocks dropped 1 percent today, allowing the yen to gain on risk aversion. News from Europe added to pressure on the Aussie. Yet news from the United […]
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October 262012
Loonie Suffers as Europe Hurts Market Sentiment
The Canadian dollar fell today as the Forex market was not pleased by the news from Europe and entered a risk-off mode. The Canadian currency remained weak against safer currencies and even declined versus the euro. Optimism about Europe waned completely as there are no signs that politicians make headway in battling the crisis. Spanish Prime Minister Mariano Rajoy delayed request for a bailout even as nation’s unemployment rose to the record. There […]
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October 262012
Euro Falls on Concerns about Greece, Spain, and Recession
Euro is lower today, dropping on concerns about Greece and Spain, as well as worries about a possible recession in the eurozone. Risk appetite has made an appearance, though, and euro appears to be trying to regain some of its lost ground. Concerns about what’s next for Greece and Spain are weighing on the 17-nation currency. The latest report about Greece indicates that the country is on track to miss its debt target by quite a bit. […]
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October 262012
UK Pound Gains against Euro as QE Expectations Fade
UK pound is gaining against the euro today, heading higher as expectations of more quantitative easing fade. Pound is showing strength at a time when the euro is showing weakness, and that is giving the pound the upper hand. Thanks to the unexpectedly strong economic figures coming out of the United Kingdom earlier this week, the pound is gaining ground against the euro. Thanks to the latest growth data, in which the third quarter […]
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October 262012
Risk Aversions Allows Yen’s Rebound
The Japanese yen advanced today as risk aversion returned to the Forex market again, driving riskier assets down and pushing investors to seek safety. The currency is still under threat of an intervention, though. Europe remains the main provider of bad news as Spanish unemployment climbed to the record 25 percent. The MSCI Asia Pacific Index of stocks dropped as much as 1.1 percent after companies reported that their earnings missed estimates. Economists […]
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October 262012
Trade Deficit Has Mixed Impact on NZ Dollar
The New Zealand dollar fell against the Japanese yen today as the New Zealand trade balance deficit was near the highest level since 2008. The deficit was still below analysts’ expectations, allowing the kiwi to gain against the US dollar. New Zealand’s trade deficit was at NZ$791 million in September, which is below the median forecast of NZ$838 million. Still, the deficit is high and would be highest since October […]
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October 262012
EUR/USD Erases Losses on US Economic Growth
Accelerating economic growth in the United States continued to support positive outlook among Forex traders, allowing EUR/USD to rebound. Earlier, the currency pair dropped after Spanish unemployment reached a record as every fourth Spain’s citizen was without job. According to the advance estimate, US GDP grew as much as 2.0% in the third quarter of 2012, matching forecasts, after it rose 1.3% in the second quarter. (Event A on the chart.) Michigan Sentiment Index […]
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October 262012
Dollar Rallies Despite Positive Market Sentiment
The US dollar rallied against the euro and the Japanese yen yesterday, but pulled back a little today. The currency sank versus the Great Britain pound as the UK economy expanded faster than experts have anticipated. US pending home sales grew 0.3 percent last month. The report noted: Home contract activity remains at an elevated level in contrast with recent years, but currently appears to be bouncing around in a narrow […]
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