Day: January 15, 2013

January 15
2013

Debt Ceiling Concerns Boost US Dollar

US dollar is seeing a boost today, practically across the board, on the Forex market. Most of the dollar’s strength is coming from uncertainty surrounding the upcoming fight over the debt ceiling. Once again, focus is on US politicians and what they will decide to do next. There is still a fiscal cliff spending fight coming up, but a pressing concern for many is the debt ceiling. Once again, the debt […]

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January 15
2013

Euro Drops after Firming Earlier

Euro managed to firm against the US dollar earlier in trading, but now the euro is lower in general as concerns about the global economy come into focus and as risk assets lose their attractiveness. Earlier in the trading day, the euro managed to firm against the US dollar. Bond sales in Italy and Spain showed solid demand today, and that helped the 17-nation currency. However, even with this good news, things quickly […]

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January 15
2013

Poor Fundamental Data Makes EUR/USD Soft

EUR/USD dropped today after three sessions of gains on poor macroeconomic reports from Europe. Some analysts speculated that the recent rally of the euro was excessive. The data from the United States was mixed as manufacturing continued to decline in New York, while retail sales grew more than was predicted. PPI fell 0.2% in December. The drop was bigger than the predicted 0.1%, but smaller than November’s 0.8%. […]

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January 15
2013

Aussie Slips Ahead of Employment Report

The Australian dollar dropped today ahead of employment data later this week. Analysts think that the employment report will show weakness of the labor market, adding to signs of trouble in the nation’s economy. Economists fear that the employment data released on January 17 will show an increase by just 2,300 in December, a poor result compared to November’s 13,900. On top of that, the unemployment rate is expected to grow by 0.2 percentage point to 5.4 […]

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