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Day: January 4, 2013
January 42013
Euro Struggles Against the Greenback
Euro continues to struggle against the greenback today. After spending some time gaining against the US dollar, the euro is now down again. It’s been a bit of a see-saw today as Forex traders look for direction. Right now, a lot of the EUR/USD action is coming as a result of the dramatic drop in gold today. Gold and the euro often move together, with the euro gaining against the US dollar when gold prices rise. […]
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January 42013
UK Pound Loses Ground on Economic Data, Risk Aversion
UK pound is losing ground today, heading lower on risk aversion, as well as on disappointing economic data. There is a bit of concern about what’s coming next for the global economy, led by the United States, and that is weighing on the sterling to some degree. UK pound is a little bit lower today, thanks to some disappointing news. First of all, the Services Sector PMI data for the United Kingdom came in below forecasts. […]
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January 42013
Yuan Rises, Threatened by Uncertainty on FX Market
The Chinese yuan rose a little versus the US dollar today, but may yet slip back amid all the uncertainty that haunts the Forex market. The US employment data did little to direct trading. The yuan, as well as other Asian currencies, is not sure where to go as traders are uncertain about the well-being of the US economy. US non-farm payrolls came out at 155,000 for December, a little better than was […]
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January 42013
Won Swings Between Gains and Losses
The South Korean won rose today, but slipped back later and currently is shifting between gains and losses as the traders’ mood was swinging back and forth between optimism and pessimism about the future of the US economy. The fiscal cliff problem in the United States was resolved, but now the issue with the debt ceiling came to light. Many traders were caught in a trap when riskier currencies rallied and then dropped down. […]
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January 42013
EUR/USD Stops Decline After FOMC Minutes
EUR/USD slowed its decline today and is staying near the opening level as of now after yesterday’s FOMC minutes sapped strength of the US dollar. Today’s nonfarm payrolls were moderately good and the services sector looked rather healthy. Yet concerns about the debt ceiling problem in the United States may yet push the currency pair further down. Nonfarm payrolls grew by 155k in December, a little above the anticipated change of 150k. […]
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January 42013
Swissie Falls vs. Dollar on Poor Swiss Fundamental Data
The Swiss franc extended its drop versus the US dollar for the fifth straight session today as the fundamental data from Switzerland was not favorable for the currency. The Swissie dropped against the Japanese yen yesterday, but turned up today. The Swiss currency also continued to rise against the euro. The KOF Economic Barometer fell from 1.50 in November to 1.28 in December, declining for the third month in a row. The report said: In comparison to previous months […]
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January 42013
CAD Loses Ground to USD, Beats EUR
The Canadian dollar failed to maintain its rally versus the US dollar and shed yesterday’s gains as fear returned to the Forex market. At the same time, the loonie jumped against the euro and drifted sideways versus the Japanese yen. Most currencies lost their gains after yesterday’s rally as quick as they have gotten them. Yes, it looks like one problem of the United States was resolved, but there remain many more […]
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