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Day: October 31, 2012
October 312012
Pound Retains Gains as SNB Boosts Its Foreign Reserves Holdings
The Great Britain continued to rise today on speculations that the Bank of England will refrain from adding stimulus. The Swiss National Bank added to its holding of the sterling, further increasing the appeal of the currency. The BoE policy makers voted unanimously for keeping monetary policy unchanged on the last meeting. Fundamental data, that has been received since then, do not suggest that the bank’s officials should change their stance during […]
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October 312012
Krone Rises as Norges Bank Does Not Plan to Buy Foreign Currency
The Norwegian krone climbed today as Norway’s central bank indicated that it is not going to buy foreign currency for the government fund. On the negative side, unemployment growth stalled in August. The Norges Bank indicated that it is not going to buy foreign currency for the Government Pension Fund Global in November. The central bank said: Norges Bank has increased the size of the petrobuffer portfolio considerably through 2012 for covering the transfers […]
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October 312012
Euro Gets Boost on Improved Risk Appetite
Euro is getting a boost today on improved risk appetite. Even though the situation in the eurozone continues to be one of uncertainty and economic difficulty, the euro is gaining ground today. Once again, general risk appetite is helping the euro, along with other high beta currencies. Even though the eurozone economic situation continues to show signs of deterioration, the 17-nation currency has the upper hand today. For another month, the unemployment […]
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October 312012
Canadian Dollar Slips after Advancing Earlier
Canadian dollar is slipping right now, following an earlier advancement. Trading has been somewhat choppy for the loonie in recent days, and now the currency is back below parity with the US dollar, and slipping against other majors as well. Earlier this week, the loonie slipped below parity on concerns about oil, as well as Hurricane Sandy. However, things seemed to turn around after manufacturers’ prices rose, and with US […]
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October 312012
Retail Sales Far Better Than Expected, Boosting Pound
The Great Britain pound was stronger after retail sales report, that was far better than anticipated, spurred speculations that the Bank of England may refrain from boosting its asset purchase program. The currency remained weak versus the euro. Confederation of British Industry released its Distributive Trades Survey, which showed a positive balance of 30 in October. That was the highest reading since June and twice the expected […]
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