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Day: December 14, 2012
December 142012
Pound Gains as Economic Indicators Point at Recovery
The Great Britain pound advanced today, rising for the fourth straight session versus the Japanese yen, as this week’s macroeconomic data suggested that the UK economy is recovering from the recession. The currency declined against the euro. Unemployment claims fell 3,000 in November from October, according to the report released on December 12, while an increase two times as big has been expected by specialists. The Royal Institution of Chartered Surveyors said today […]
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December 142012
Euro Turns Higher on German Growth, China PMI
Euro is getting a little help today from better German growth data. Earlier, the euro was a little lower against the US dollar, but now those gains have been pared, and the 17-nation currency is moving a little bit higher. German economic data is showing some improvement, and that is translating into some gains by the German economy. Markit Economics reports that an improvement to 47.3 from […]
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December 142012
US Dollar Mostly Rangebound against Majors
US dollar is mostly rangebound against other major currencies, with Forex traders looking for direction from major players in the world economy. Risk appetite is a bit hard to nail down right now. All the economic data recently released has many Forex traders processing the information and trying to decide what to do next. In the United States, the consumer price index dropped in November, thanks in large part to lower […]
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December 142012
Mexican Peso Drops as Threat of US Fiscal Cliff Remains
The Mexican peso weakened today as US politicians did not make progress in the discussion about avoiding fiscal cliff, fueling concerns that the US economy may face a recession. John Boehner, the Speaker of the United States House of Representatives, said: Unfortunately, the White House is so unserious about cutting spending that it appears willing to slow-walk our economy right up to â and over â the fiscal cliff. The United […]
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December 142012
Yuan Weaker Even as Manufacturing Sector Expands
The Chinese yuan weakened today even after the data showed an expansion of the manufacturing sector this month. Other Asian currencies also slipped, erasing previous gains. China’s manufacturing Purchasing Managers’ Index rose from 50.5 in November to 50.9 in December, according to the flash estimate. That was the highest level in fourteen months. Yet the yuan fell, spurring talks that the government intervened to weaken the currency. USD/CNY rose from 6.2465 […]
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December 142012
EUR/USD Attempts to Rally, Looks for Direction
EUR/USD attempted to advance today, but trimmed its gains and currently trades in a range. The European Union released the bailout for Greece, improving the outlook for the eurozone. At the same time, fears of the fiscal cliff in the United States eat away confidence of Forex traders, weakening the currency pair. US consumer prices are falling, according to today’s report, and that does not help either. CPI fell 0.3% in November, more than was predicted […]
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