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Day: November 29, 2012
November 292012
Dollar Weak, Attempts to Rebound
The US dollar was weak today amid risk appetite of Forex traders, caused by hopes that the US fiscal cliff can be avoided and Europe will be able to resolve its problems. The currency shows tendency to regain strength as House Speaker John Boehner hurt the market sentiment. Boehner said that there is “no substantive progress” in the talks about avoiding the fiscal cliff. Previously, the US politicians were […]
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November 292012
Loonie Pares Losses on New Fiscal Cliff Hopes
Earlier, fears about the United States going over a fiscal cliff sent the Canadian dollar lower. However, hopes are once again on the rise for an agreement to avoid the fiscal cliff, and that is helping the loonie regain some of its lost ground. Concerns about the effect of the US fiscal cliff have done a great deal to put a damper on risk appetite lately, and that has included weighing on the Canadian dollar as Forex traders […]
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November 292012
Euro Heads Higher on Italian Yields, US Fiscal Cliff
Once again, optimism is creeping back into the markets, and Forex traders are feeling a little better about what might be coming. Euro is heading higher as risk appetite returns on better news and improved expectations. In the eurozone, even though there is a recession happening, there are hopes for recovery. The recent Greek debt deal is providing hope that other heavily indebted countries in the region will […]
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November 292012
Swedish Krona Rises with Growing GDP
The Swedish krona gained today amid the positive sentiment among Forex traders and after the data showed that the nation’s economy expanded in the third quarter of this year, increasing appeal of the Swedish currency. Swedish gross domestic product expanded with the seasonally adjusted rate of 0.5 percent in Q3 2012. The analysts’ expectations were 0.2 percent. The Forex market remains in the risk-positive mode on hopes that the US politicians will manage to find […]
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November 292012
EUR/CHF Advances as Jordan Says Franc Still Too Strong
The Swiss franc dropped against the euro today as Thomas Jordan, the President of the Swiss National Bank, said that the currency is still too strong. The Swissie advanced versus the US dollar. Jordan said yesterday during his speech on SNB monetary and investment policy in Berne: The franc at its current level still has a high value,â Jordan said in Bern late yesterday. âThis burdens a lot of companies — especially in a phase […]
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November 292012
EUR/USD Rebounds, Still in Danger
EUR/USD rebounded today, erasing yesterday’s losses, but is declining as of now. The data from Europe was mixed, while the economic reports from the United States were all positive. Unemployment claims fell and the housing market looked good, relieving concerns caused by yesterday’s data. The economic growth in the third quarter of this year was a bit slower than expected, but still far above the second quarter’s rate of expansion. US […]
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November 292012
Dollar Weak amid Hopes for Avoiding Fiscal Cliff
The US dollar erased its yesterday’s gains and remained soft today on hopes that the US politicians will make progress in talks about ways to avoid the fiscal cliff. The dollar was stronger versus the Japanese yen. Traders were worrying about lack of progress in talks about the fiscal cliff, but now they changed their stance and look into the future with some optimism. Today’s GDP figure is expected to support […]
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