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Day: December 6, 2012
December 62012
NZD/JPY Rises to Highest Since March as RBNZ Keeps OCR Stable
The New Zealand dollar was strong today, rising to the highest level since September versus the US dollar and the highest since March against the Japanese yen, after the Reserve Bank of New Zealand left its benchmark Official Cash Rate unchanged. The RBNZ left its main interest rate at 2.5 percent. Governor Graeme Wheeler said in the statement: Economic growth has slowed in recent months and has been accompanied by low […]
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December 62012
Pound Weakens as BoE Keeps Policy Unchanged, Climbs vs. Euro
The Great Britain pound dropped today against the US dollar and the Japanese yen after the Bank of England kept its official bank rate and the asset-purchase program unchanged. The sterling jumped versus the euro. The BoE left its monetary policy unchanged at today’s meeting, maintaining the main interest rate at 0.5 percent and the asset purchases at £375 billion. The decision to keep the policy stable was made even after the growth forecast was revised […]
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December 62012
US Dollar Index Gains Slightly on Euro Weakness
Even though the US dollar’s performance against its major counterparts is mixed, the dollar index is a little bit higher, mostly due to current euro weakness. There are plenty of mixed signals on the Forex market right now. Worries about what’s next for the eurozone are weighing on risk appetite a bit, although there is enough hope elsewhere that currencies like the Canadian dollar and the UK pound are […]
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December 62012
Euro Slightly Lower on Concerns about Future ECB Cuts
Even though the European Central Bank kept rates on hold for now, there are still concerns about the future. With the eurozone economy moving sluggishly, and the sovereign debt saga far from over, there are worries that the ECB will have no choice but to cut rates in the future. The euro is slightly lower against the US dollar right now, but it isn’t showing much reaction overall. […]
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December 62012
Employment Data Pushes Aussie to Highest in Several Months
The Australian dollar advanced today, reaching the highest level since September against the US dollar and the highest since April versus the Japanese yen, as Australian employment data was much better than expected. Australian employers added as much as 13,900 jobs in November, while analysts have expected a meager growth by 200. The unemployment rate fell from 5.4 percent to 5.2 percent instead of rising to 5.5 percent as was predicted. The Australian […]
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December 62012
Rand Goes Up as South Africa’s Current Account Deficit Remains Stable
The South African rand gained today, advancing for the fourth straight trading session, as the nation’s current account deficit remained unchanged last quarter, proving that analysts’ pessimistic predictions were wrong. South Africa’s current account shortage stayed at 6.4 percent of gross domestic product in the third quarter, the same as in the preceding quarter. Economists have expected it to widen to 6.7 percent. The South Africa’s central bank cited the gap as one […]
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