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Day: December 27, 2012
December 272012
NZ Dollar Trim Gains as US Politicians Still Cannot Find Consensus
The New Zealand dollar erased its earlier gains today on concerns that talks among US politicians to avoid the fiscal cliff were unsuccessful so far. The currency went higher against the Japanese yen. Fears that the so-called fiscal cliff will push the United States into recession still dominate the Forex market. Treasury Secretary Timothy Geithner said that he will take âextraordinary measuresâ to postpone a US […]
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December 272012
Loonie Higher Against the US Dollar on Risk Appetite
Canadian dollar is higher against the US dollar today as risk appetite makes an appearance. Loonie is gaining ground as fiscal cliff talks are set to resume in the United States. Additionally, the Canadian dollar is getting some help from higher oil prices. Even though a deal still hasn’t been reached regarding the fiscal cliff in the United States, many expect that such a deal will be struck […]
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December 272012
Pound Rises with Mortgage Approvals
The Great Britain pound advanced today after the data showed that the number of mortgage approval rose last month. The actual reading was below analysts’ expectations, but that did not deter the currency from appreciating. According to British Bankers’ Association, the number of new mortgages approved for home purchase rose to 33,634 in November from 33,128 in October. The figure was below the median forecast of 34,600. The pound was especially firm […]
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December 272012
Euro Heads Higher on Fiscal Cliff Hopes and Schäuble Comments
Euro is on the rise today as risk appetite returns to the markets, thanks to the help of expectations for a fiscal cliff deal, as well as comments from Germany’s financial minister. Euro is getting a boost as many expect that a deal will be reached in the United States regarding the fiscal cliff. Many expect that a deal will be done by the end of the year. President Barack Obama is cutting his Christmas vacation short in order […]
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December 272012
EUR/USD Advances for Second Day, Trims Gains
EUR/USD climbed for the second day today on improving French consumer sentiment and Italian business confidence, as well as on falling US jobless claims. The currency pair dropped sharply after the data showed that US consumer confidence declined more than expected and new home sales were below predictions. Currently, the euro is just barely hanging above the opening level. Initial jobless claims dropped from 362k to 350k last […]
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December 272012
Brazilian Central Bank Expected to Counter Decline of Real
The Brazilian real fell today, following yesterday’s gains. The rally on the previous trading session was caused by speculations that policy makers would take measures to support the currency. There were speculations that the Brazil’s central bank will increase its main interest rate to rein consumer inflation, but such talks eased recently. The Central Bank of Brazil left the key Selic rate unchanged in November, following 10 consecutive […]
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