The US dollar fell against most major currencies today as some of macroeconomic reports from China were good, buoying up investors’ confidence, and on speculations that the Federal Reserve may ease its monetary policy further. The Fed will start the policy meeting today and will announce its decision tomorrow. Market participants hope that the US central bank will announce more asset purchases. Accommodative policy looks […]
Read moreThe Great Britain pound advanced today as speculations that Italian Prime Minister Mario Monti may leave his office led to increasing demand for the currency as a refuge. Surprisingly enough, the euro managed to outperform the sterling even after the negative news from Europe. Monti is ready to resign after approval of the budget for the next year. He may exit the office as soon as February. Monti decided to resign after previous Prime Minister […]
Read moreJapanese yen is slipping against high beta currencies, after logging gains earlier. With risk appetite making an appearance, the yen isn’t required as a safe haven right now. Japanese yen got a boost earlier against high beta currencies pound and euro. Right after Italian PM Mario Monti announced that he would be resigning, concerns about the eurozone spiked. The result was that safe […]
Read moreEuro slipped earlier today on the Forex market, thanks to the latest political turmoil in Italy. However, the 17-nation currency has recovered some of its equanimity since then, and is now higher. Italian Prime Minister Mario Monti announced that he will be resigning after the passage of the 2013 budget. The move sent the Italian stock index tanking, and increased the gap between Italian yields and other bond yields in the eurozone. Initially, […]
Read moreThe New Zealand dollar appreciated today, reaching the strongest level since March against its US peer, as the increase of New Zealand manufacturing sales overshadowed negative factors. The currency advanced versus the Japanese yen, but later erased gains. New Zealand’s manufacturing sales grew 1.6 percent in the third quarter of 2012 from the second quarter. The increased followed the drop by 0.8 percent in the preceding quarter (revised positively from 1.1 […]
Read moreThe Australian dollar was soft today as the increase of home loans missed estimates and the trade data of China, the biggest Australia’s trading partner, was disappointing, reducing prospects for Australian exports. The Customs General Administration of China reported that China’s export grew 2.9 percent in November from a year ago, while imports were unchanged. The number of dwelling commitments in Australia rose by just 0.1 percent from September to October, frustrating analysts […]
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