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Day: December 28, 2012
December 282012
Fears of US Fiscal Cliff Have Negative Impact on Canadian Dollar
The Canadian dollar weakened today as concerns about the US fiscal cliff were widespread ahead of negations between President Barack Obama and congressional leaders. The currency erased its gains versus the euro and the Japanese yen. Democrats Senate Majority Leader Harry Reid complained that “we have nobody to work with, to compromise” and “I donât know time-wise how it can happen now”. Such comments do not bode well. […]
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December 282012
Euro Drops on Uncertainty, Profit Taking
Today is the last full trading day of the year in Europe, and the euro is falling today as uncertainty makes an appearance, and as Forex traders take some of the profits they have on recent euro gains. Euro is heading lower today, losing some ground on the latest developments. A little bit of uncertainty has crept into the markets surrounding the fiscal cliff issue in the United States, and that uncertainty tends to weigh on high beta currencies […]
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December 282012
US Dollar Mixed as Markets Look for Direction
US dollar is mixed today against other major currencies as the markets look for a little more direction. However, things to seem to be leaning toward risk aversion right now, and that could mean a higher dollar against high beta currencies. Right now, Republican leaders are saying that they are open to a new deal on the fiscal cliff issue, and that they are willing to negotiate. With a special […]
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December 282012
Won Rises as South Korean Economy Improves
The South Korean won advanced today on signs that South Korea’s economy is improving as exporters were converting their profits to the local currency ahead of the year-end. The current-account surplus widened to the record $6.88 billion in November. Industrial output increased 2.3 percent last month from the month before, much more than analysts have predicted (0.8 percent). That was the biggest advance since January. Economists are worried […]
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December 282012
Yuan Rises as Negotiations Resume in USA
The Chinese yuan advanced today as China’s central bank set the reference rate higher and as negotiations among US politicians spurred risk appetite on the Forex market. The Peopleâs Bank of China increased the daily fixing 0.08 percent to 6.2896, the biggest increase since November 12. US President Barack Obama meets with Republicans House Speaker John Boehner and Democrats Senate Majority Leader Harry Reid today. Market participants hope […]
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December 282012
EUR/USD Drops Ahead of Weekened, Attempts to Rebound
EUR/USD was falling today at the first half of the trading session, but it is rising currently and may yet erase its losses. The news from the United States was positive, bolstering traders’ confidence and adding to the upward momentum of the currency pair. President Barack Obama is going to meet with congressional leaders to discuss measures for avoiding the fiscal cliff. Today’s data showed that the US housing market is improving […]
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December 282012
Yen Drops to Two-Year Low vs. Dollar
The Japanese yen extended its rally to the downside today, reaching the lowest level in more than two years, as Japan’s inflation continued to decline, fueling speculations that policy makers will take additional steps to stimulate economy, weakening the currency at the same time. Japan’s core Consumer Price Index declined 0.1 percent in November, while it was unchanged in the prior month. The Tokyo CPI (both core and non-core) retreated as much […]
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