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Day: December 12, 2012
December 122012
Euro Finds Support as Greenback Weakens
Euro is finding support today as a number of developments take the focus of eurozone recession and sovereign debt issues. Right now, the 17-nation currency is gaining ground against its major counterparts as risk appetite, expectations of stimulus, and talks of a banking union for the European Union help support it. There is a lot going on right now, and many Forex traders are interpreting all of the action as positive for the euro. First of all, there […]
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December 122012
US Dollar Drops as Forex Traders Expect More Stimulus from the Fed
Greenback is heading lower today, falling as the Federal Reserve prepares to announce its latest policy decision. While interest rates are expected to remain near zero, Forex traders and others are waiting to hear about the possibility of further stimulus. Later, more movement in the markets will be seen after Fed Chair Ben Bernanke makes his statement about Fed policy. Many, however, are already anticipating […]
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December 122012
Yen Weakens as FX Traders Feel Optimism
The Japanese yen fell against all other most-traded currencies today as the risk-positive sentiment on the Forex market reduced demand for the currency as a safe haven, while speculations about an intervention from policy makers weakened the yen further. Japan’s opposition Liberal Democratic Party leads in polls ahead of the election that will be conducted at December 16. The party promised to spur economic growth and was talking about monetary easing as a way to do so. […]
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December 122012
Aussie Rises Even as Consumer Sentiment Declines
The Australian dollar was strong today as anticipation of stimulus from the US Federal Reserve overshadowed the sharp fall of Australian consumer sentiment this month. The Westpac Melbourne Institute Index of Consumer Sentiment dropped by 4.1 percent in December from the previous month (from 104.3 to 100.0). The report called the drop “a very surprising result” as the sentiment index rose 5.2 percent in November. Nevertheless, the Aussie was strongest since September against the US […]
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December 122012
EUR/USD Surges as FOMC Expands Asset Purchases
EUR/USD soared today, reaching the strongest level since April, as the Federal Reserve extended its asset purchase program. The Fed will maintain stimulus as long as unemployment remains at elevated levels. Today’s trading session was notable for bad macroeconomic reports from both the United States and the European Union, but that did not deter the currency pair from rallying. Import and export prices fell in November. Import prices dropped […]
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