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Day: November 30, 2012
November 302012
Dollar Index Slips as Greenback Turns in Mixed Performance
US dollar is mixed against major currencies today, but its gains against the yen and the pound aren’t helping the dollar index move higher. Instead, the dollar index is slipping on the greenback’s weakness against the euro and the Swiss franc. Greenback is mixed today, heading lower against the euro, but gaining against the UK pound. There is a lot to process right now, but the US dollar index is […]
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November 302012
Euro Gains Ground on End of Month Flows
Even though there is plenty of disappointing economic news in the eurozone, the euro is managing to head higher today. The main driver is end of the month flows, but there is also a little bit of support from the recently approved Greek debt deal. The latest economic data out of the eurozone has been somewhat disappointing. German retail sales dropped, consumer spending in France fell, and the unemployment rate continues to rise […]
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November 302012
Positive Traders’ Outlook Causes Gains of EUR/GBP
The Great Britain pound weakened against the euro today as Forex traders were hoping that the European crisis can be resolved and such hopes diminished appeal of the sterling as a haven against Europe’s troubles. The UK currency also fell versus the US dollar, erasing its previous gains. Market participants were looking more favorably at the euro after Greece has received another portion of the bailout package. Yields on bonds of European […]
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November 302012
Rupee’s Appeal for Investors Increases
The Indian rupee strengthened today amid foreign inflows into the nation’s economy and the positive outlook of investors that increased attractiveness of Indian assets. Global funds purchased $247 million more Indian stocks than they sold in the first two days of this week, showing that investors demand for Indian assets remains. Goldman Sachs noted that India’s economy is improving. Moody’s Investor Service said that India’s […]
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November 302012
EUR/USD Rallies as Germany Approves Bailout for Greece
EUR/USD rallied today as German lawmakers approved the latest round of the rescue package for Greece. The news supported this week’s trend of improving outlook for Europe. The US data, on the other hand, was not particularly encouraging. Personal income and spending stalled in October. Income was unchanged, while traders have expected 0.2% growth. Spending fell 0.2%, compared to expectations of 0.1% increase. The September figures were 0.4% and 0.8% respectively. (Event […]
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November 302012
Yen Weakens as Stalling Inflation Spurs Intervention Talks
The Japanese yen weakened today as a report showed that nation’s inflation stalled this month, fueling speculations that Japan’s central bank will intervene to support the struggling economy. Japan’s Consumer Price Index was unchanged (zero growth) in November from a month ago, according to the preliminary data. The annual change was -0.4 percent. The report added to speculations that the Bank of Japan will implement additional stimulating measures, weakening […]
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