Day: December 11, 2012

December 11
2012

NZ Dollar Rallies to Highest Since May 2010 vs. Yen

The New Zealand dollar rallied today, reaching the strongest level in more than two years against the Japanese yen, on positive macroeconomic data and anticipation of stimulus from the US central bank. Today’s trading session was marked by cautious optimism among Forex traders. The data from Australia, the biggest trading partner of New Zealand, was good. The positive news from Europe eased concerns about the region’s financial crisis. Market […]

Read more
December 11
2012

EUR/CHF Surges as UBS Charges for Deposits

The Swiss franc dropped sharply against the euro today as UBS AG announced that it is going to apply charges for financial institutions holding cash accounts. The currency advanced for the second day versus the US dollar and the Japanese yen. UBS announced yesterday: Due to the continued prevailing market situation affecting the Swiss franc, we have decided to take additional corrective actions. As a consequence, we will start applying a charge for credit […]

Read more
December 11
2012

Canadian Dollar Slips after Small Gains

Canadian dollar saw some small gains earlier today as the Federal Reserve prepared to begin a two-day meeting. However, the loonie has since slipped a bit, and is a little lower. The ultimate result, however, is likely to be somewhat rangebound — at least for a little bit. Loonie got a bit of a boost earlier as speculation about the Federal Reserve meeting took precedence. There is some expectation that the Fed could decide to boost […]

Read more
December 11
2012

German ZEW Boosts Euro

Euro is heading higher today, thanks to the latest economic news out of Germany. The ZEW beat expectations, and that is supporting the euro as Forex traders look to the future. The German ZEW economic sentiment index moved higher in December, jumping to 6.9, which is much better than the expected -12.0 that many economists expected, and certainly better than the last reading, which was -15.7. The good news boosted the euro, […]

Read more
December 11
2012

Pound Shows Upside Bias as Housing Market Stabilizes

The Great Britain pound was trading sideways and is currently showing an upside bias after the RICS house price balance unexpectedly worsened last month, but analysts thought that the housing market is stabilizing. According to the Royal Institution of Chartered Surveyors 9 percent more chartered surveyors reported falling prices during November (resulting in the net balance of -9 percent). Specialists have expected the balance to improve from Octobers […]

Read more
December 11
2012

Australian Dollar Recovers After Losing Ground on Business Confidence

The Australian dollar pulled back at the beginning of today’s trading session as business confidence in Australia worsened last month. The currency has regained its strength as of now and continues to move up. The business confidence index of the National Australia Bank dropped from -1 in October to -9 in November. The report said: Signs of trouble ahead with confidence slumping to lowest level since April 2009, with little hint of a pre-Christmas revival. The outlook did […]

Read more
December 11
2012

EUR/USD Climbs on German Economic Sentiment & Spanish Bond Auction

EUR/USD climbed today, rising for the second day, as the German business sentiment index jumped sharply and the Spanish bond auction ended with positive outcome. The ZEW Indicator of Economic Sentiment for Germany demonstrated an astounding increase by 22.6 points to 6.9 this month. (Event A on the chart.) Spain sold €3.9 billion of debt, exceeding the target of â‚¬3.5 billion. US trade balance deficit was at $42.2 billion in October, rising from $40.3 billion […]

Read more