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Day: January 11, 2013
January 112013
NZ Dollar Drops After Rally
The New Zealand dollar fell today even after China’s inflation grew more than expected, adding to the positive market sentiment. The currency dropped on speculations that the recent rally was overdone and as Asian stocks paused their advance. The National Bureau of Statistics of China reported that the Consumer Price Index grew 2.5 percent in December from the same time in the previous year, beating the analysts’ estimate of 2.3 percent growth. Usually, […]
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January 112013
Swiss Franc Drops vs. Euro as CPI Declines
The Swiss franc rose against the US dollar today, following the euro. The Swissie dropped against the shared European currency itself for the second day as Switzerland’s consumer prices fell last month more than was expected. The Consumer Price Index declined 0.2 percent in December from a month ago, while analysts have expected a 0.1 percent drop. The index was down 0.3 percent in November. The annual decline was 0.4 […]
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January 112013
Euro Gains Ground on Optimism in the Eurozone
Euro is still gaining ground against other majors today, heading higher as optimism remains from yesterday’s ECB announcement and Mario Draghi’s enthusiastic comments. Even though risk appetite is fading in some other markets (equities are struggling), the euro is heading a little bit higher. Yesterday, the European Central Bank announced that it is keeping interest rates steady for now. This was expected […]
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January 112013
Canadian Dollar Slips after Trade Report
Canadian dollar is slipping today after a rather spectacular performance yesterday. Focus has turned from the good economic data posted by China and the equity performance that followed, and turned to look at the economic data out of Canada. The latest trade deficit is weighing on the loonie today. Yesterday, risk appetite pushed the Canadian dollar higher. Expectations that China would help pull the global economy out of its funk helped […]
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January 112013
EUR/USD Extends Rally, Caused by ECB
EUR/USD extended its rally today as optimism, caused by yesterday’s comments of European Central Bank President Mario Draghi, persisted and continued to bolster risk appetite of investors. The data from the United States was not particularly good, except for the federal budget balance, which was better than expected. Trade balance deficit unexpectedly widened to $48.7 billion in November up from $42.1 billion in October. Market participants have expected […]
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January 112013
USD/JPY & GBP/JPY Reach Record High Since 2010
The Japanese yen fell to the lowest level since June 2010 against the US dollar and to the lowest since May 2010 versus the Great Britain pound amid the positive market sentiment and on prospects of further stimulus from Japan’s central bank. It is expected that the central bank will continue to work closely with the government to stimulate the economy. According to speculations, the BoJ may add to its goals specific unemployment level. Whatever […]
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January 112013
Euro Jumps as ECB Anticipates Recovery
The euro surged today after the European Central Bank left its monetary policy unchanged and President Mario Draghi said that Europe’s economy should start to recover this year. The shared European currency reached the highest level since May versus the Japanese yen. According to some polls, as much as the one third of analysts has though that the ECB is going to slash rates. That did not come true […]
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