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Day: December 19, 2012
December 192012
Canadian Dollar Loses Ground
Canadian dollar is losing ground today, heading lower as the situation in the United States weighs. Even though oil prices are higher, and risk appetite seems somewhat apparent, the loonie is struggling. The Canadian dollar is running into trouble today. Even though oil prices are slightly higher, the loonie hasn’t benefited. Instead, the Canadian currency is being affected by the stalled fiscal cliff negotiations. Even though […]
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December 192012
German Ifo Helps Euro
The latest German Ifo data is helping the euro today, sending the 17-nation currency higher. The latest news, combined with hopes for a deal on the fiscal cliff, is boosting the euro to highs against the dollar since early in 2012. Hopes for a rapid recovery for Germany are helping the euro today. The German Ifo is showing a gain in business confidence for December. This is the second month that there has been an increase in confidence. […]
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December 192012
Rupee Gets Boost from RBI Policy Meeting
The Indian rupee climbed today after India’s central bank left interest rates unchanged at yesterday’s meeting and pledged to shift the monetary policy towards growth. The Reserve Bank of India left its Bank Rate (the main interest rate) at 9 percent yesterday. The bank talked about signs of stabilization of the global economy: Since the Second Quarter Review (SQR) of October 2012, the global economy has shown some signs of stabilisation although […]
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December 192012
Ruble Climbs with Rise of Crude Oil Prices
The Russian ruble advanced today, rising for the second day, as crude oil, the major Russia’s export, rose amid the positive market sentiment. Crude oil traded at $87.84 per barrel in New York, near the highest level in two weeks. Crude and natural gas account for about 50 percent of Russia’s export revenue. Previously, the ruble was weak as importers were selling the currency ahead of the holiday season. USD/RUB retreated from 30.7345 […]
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December 192012
EUR/USD Jumps on German Business Confidence, Retreats
EUR/USD climbed today after German business confidence improved, beating analysts’ estimates. (Event A on the chart.) Currently though, the currency pair shows tendency to decline. The US data was in line with forecasts, therefore it is likely not the reason for the euro’s pullback. Housing starts were at the seasonally adjusted annual rate of 861k in November, below the revised October estimate of 888k. Housing starts were at the seasonally adjusted annual rate […]
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December 192012
RBA Minutes Hurt Aussie
The Australian dollar backed off today as the minutes of the central bank’s policy meeting indicated that the RBA is ready to implement additional monetary easing. The currency remained weak even as stocks and commodities rallied. The Reserve Bank of Australia cut its main interest rate by 25 basis points to 3 percent during its last policy meeting on December 4. The minutes of that meeting indicated: At this meeting, the information on labour costs […]
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December 192012
Pound Climbs on Signs of Stability
The Great Britain pound jumped yesterday and retained its gains today after the macroeconomic data showed that Britain’s economy is stabilizing. At the same time, the sterling weakened versus the euro. The Consumer Price Index remained at 2.7 percent and core inflation stayed at 2.6 percent in November. The Retail Price Index was at 3 percent last month, a little below the October’s 3.2 percent. The House Price Index showed growth by 1.5 […]
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