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Day: January 9, 2013
January 92013
Euro Struggles on Disappointing German IP
Euro is struggling today, thanks to a combination of light risk aversion and a weak German IP. The disappointments in economic data are weighing on the 17-nation currency a little bit, and resulting a bit of uncertainty, especially when combined with the other concerns plaguing the world economy. Many analysts had expected to see German Industrial Production to rise by 1.0 per cent in November. However, when the numbers came in, German IP showed only […]
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January 92013
US Dollar Finds Support Following Earlier Losses
Earlier, the US dollar experienced a correction lower. Now, though, the greenback is finding support, and heading higher against its major counterparts. The gains aren’t huge, but they are there. There’s a lot of speculation going on right now. Forex traders are waiting for policy announcements from the European Central Bank and the Bank of England this week. Additionally, there is a lot of interest in economic stats from the end of the 2012. […]
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January 92013
South African Rand Gains on Bond Purchases, Retreats
The South African rand advanced today, before retreating a bit, as investors ramped up buying of the country’s bonds and on speculations that increasing demand for raw material will boost commodity currencies. The Johannesburg Stock Exchange data showed that foreign buyers purchased a net 1.17 billion rand ($136 million) of South Africa’s bonds yesterday, while net purchases totaled 3.9 billion rand this year. Signs of increasing demand […]
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January 92013
Negative Fundamentals Unable to Hurt Aussie
The Australian dollar rose today even amid fundamentals that were not supportive for the currency. Australian retail sales unexpectedly dipped, adding to speculations that another interest rate cut is warranted, but that did not bring the Aussie down. Australia’s retail sales fell 0.1 percent in November from October, when no change was registered. The report frustrated analysts who have expected an increase by 0.3 […]
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January 92013
EUR/USD Drops Ahead of ECB Meeting
EUR/USD declined today for the second day amid speculations that the European Central Bank will cut interest rates at its policy meeting this week. The week is poor on fundamental reports, therefore the Forex market is digesting last week’s events for the most part. Yet policy meetings of several central banks, including the ECB, may yet spur the market into action. Crude oil inventories increased by 1.3 million […]
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January 92013
Yen Continues Rally on Speculation That Drop Was Overdone
The Japanese yen continued its rally as risk aversion returned to the Forex market and on speculations that the huge decline, which the currency has experienced by the end of the last year, was overdone. The yen has started its drop against most currencies in the middle of November and moved down almost without pause till the beginning of this year. The currency has lost about 5 to 7 percent of its value just in the last few weeks. […]
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