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Day: November 28, 2012
November 282012
South Korean Won Soft amid Poor Market Sentiment
The South Korean won declined today as the risk aversion on the Forex market deterred traders from higher-yielding assets of emerging economies, including the South Korean ones. The market sentiment was hurt by the comments of Senate Majority Leader Harry Reid about lack of progress in the talks about avoiding fiscal cliff. Europe’s problems also remain a negative factor even after Greece managed to convince the European Union to ease terms of the rescue package. […]
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November 282012
Traders Turn Attention to USA, Yen Profits
Now, as the situation with Greece is resolved (at least for some time), Forex traders turned their attention to the United States and the danger of the fiscal cliff. The Japanese yen profited from the resulting fears. Harry Reid, the Senate Majority Leader, complained about the progress in the talks about ways to avoid the fiscal cliff (or rather lack of progress thereof). Markets did not take the comments well. The Stoxx Europe 600 Index of shares dropped […]
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November 282012
EUR/USD Remains Weak
EUR/USD stayed weak today as traders remained dissatisfied with the Greek bailout program. The news from the United States added to the pessimism as the US housing market demonstrated an unexpected decline. New home sales were at the seasonally adjusted annual rate of 368k in October, little changed from the September rate, which was revised from 389k to 369k. The median forecast was 387k. (Event A on the chart.) Crude oil inventories decreased by 0.3 […]
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November 282012
AUD Drops vs. USD & JPY, Gains vs. EUR
The Australian dollar fell against the Japanese yen and the US dollar yesterday and remained soft today. Like its Canadian counterpart, the Aussie managed to strengthen versus the euro. The agreement to provide aid for Greece did not help the market sentiment. In fact, that agreement may fail as the International Monetary Fund did not accept its terms. The inability of the US politicians to find a compromise and avoid the fiscal cliff did not help traders’ […]
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November 282012
Canadian Dollar Erases Gains amid Fears of US Fiscal Cliff
The Canadian dollar fell versus the US dollar and the Japanese yen yesterday and kept its losses today amid fears of the fiscal cliff in the United States. Earlier, the currency advanced on the positive market sentiment. The loonie remained strong against the euro. US politicians are unable to come to an agreement and that means automatic tax increases and spending reductions may be initiated, threatening the US recovery. The resulting fears hurt Canada’s major export — […]
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