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Day: November 27, 2012
November 272012
Greenback Gets a Boost on Eurozone Uncertainty
US dollar is heading higher today, finding support as uncertainty about the eurozone weighs on the 17-nation currency and sends Forex traders looking for a little stability. Greenback is getting a bit of a boost today as uncertainty about the eurozone continues to weigh on the 17-nation currency. Even though an agreement was reached in the situation with Greece, after the initial excitement faded, Forex traders started getting a look at the rest of the eurozone. There are still […]
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November 272012
Euro Heads Lower as Focus Moves Off Greece to the Wider Eurozone
Even though eurozone leaders have agreed to a Greek deal, problems remain in the wider eurozone. With focus returning to the long-term for the entire currency region, the euro is heading lower right now. European leaders came to a deal, reducing Greek debt by 40 billion euros, and making it possible for the embattled country to receive needed loans to keep it afloat. The news gave the euro a bit of a boost in earlier trading, but much […]
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November 272012
Forint in Danger from Interest Rate Cut
The Hungarian forint strengthened today, but may yet retreat as the nation’s central bank lowered its main interest rate amid fears of recession in the European Union. The Magyar Nemzeti Bank (the central bank of Hungary) announced today: The Monetary Council of the Magyar Nemzeti Bank reduced the central bank base rate by 25 basis points to 6.00%, in effect from 28 November 2012. The decision was expected by market analysts. The bank lowered […]
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November 272012
NZ Dollar Rebounds Despite Trade Deficit
The New Zealand dollar managed to rebound today, following yesterday’s drop, even as the New Zealand trade balance deficit was bigger than predicted. The agreement to provide a bailout for Greece was the likely reason for the rally of the risky New Zealand’s currency. The New Zealand trade balance posted the deficit of NZ$718 million in October. The reading was below the September’s NZ$775 million, but far above the predicted NZ$490 million. Yet the accord regarding […]
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November 272012
EUR/USD Erases Gains Even After Agreement Was Reached
EUR/USD dropped today, erasing its previous gain, even after the talks about the Greek bailout have ended with success. Fears that the indebted country may leave the eurozone added to worries about the attempts of Catalonia to gain independence from Spain. In contrast, the news from the United States was positive, including growing manufacturing and improving consumer sentiment. Durable goods orders were almost unchanged in October, while market […]
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November 272012
Pound Gains as Mark Carney Appointed as Next Head of BoE
The Great Britain pound pared yesterday’s losses versus the US dollar and the Japanese yen today after the announcement that Mark Carney, the current Bank of Canada’s Governor, will be the next head of Britain’s central bank. The decision to appoint a foreigner as the head of England’s central bank surprised Forex market participants. The news was negative for Canada’s currency, but positive for Britain’s sterling. Experts think that it is good to invite […]
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November 272012
Canadian Dollar Falls After Carney Appointed as Head of BoE
The Canadian dollar weakened yesterday as Bank of Canada Governor Mark Carney was appointed as a new head of the Bank of England, creating uncertainty about leadership in the Canadian central bank. The currency was firmer today against the US dollar and the euro, but continued to fall versus the Japanese yen. The BoE announced yesterday that Carney will be the new Governor of the central bank. It is yet unclear who will lead the BoC […]
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