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Day: November 7, 2012
November 72012
Euro Pulls Back with Greece in Focus
Euro is pulling back in Forex trading today, no real surprise with all the uncertainty and worrying going on right now. One of the big issues in the eurozone — Greece — is back in focus, and it’s not helping that a fiscal cliff is looming in the United States as well. Now that the world’s focus has been pulled away from the US Presidential Election, concerns about what’s happening in the eurozone are returning. […]
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November 72012
Pound Drops on Disappointing Data
The Great Britain pound dropped today as today’s macroeconomic reports were rather bad, spurring talks about further monetary easing from the Bank of England and fears that the UK economy will slid back into recession. Industrial production fell 1.7 percent in October from September, more than analysts have anticipated — 0.6 percent, while fell 1.7 percent in October, below the expectations of 0.3 percent. The Halifax […]
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November 72012
US Dollar Index Rises as Fiscal Cliff Looms
Now that the US Presidential Election is over, investors and Forex traders are shifting their focus away from the uncertainties surrounding the election, and concentrating on budget issues. The next hurdle is the fiscal cliff, and concerns about that fiscal cliff are weighing on high beta currencies today. In earlier trading, shortly after the announcement that President Barack Obama had won another term, the US dollar dropped. The fall […]
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November 72012
RBNZ Thinks NZD Will Maintain Strength
The New Zealand dollar advanced today against its US peer as the nation’s central bank expressed positive outlook for the currency’s exchange rate. The kiwi was down against the Japanese yen. The Reserve Bank of New Zealand mentioned in its Financial Stability Report some good developments in the global economy. Such positive changes “created a general ârisk-onâ environment which has supported a number of currencies such as the NZD”. The sentiment may worsen, […]
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November 72012
EUR/USD Drops as Obama Reelected
EUR/USD dropped, reaching the lowest level in almost two months, after Barack Obama was reelected as the US President. Such outcome has been considered dollar-positive by analysts and their view proved to be true so far. Market participants are concerned that the President will clash with the Congress about the way to avoid the fiscal cliff. Crude oil inventories increased by 1.8 million barrels last week (matching forecasts exactly) […]
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