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Day: January 16, 2013
January 162013
US Dollar Mixed Against Other Majors
US dollar is mixed against other majors today as Forex traders consider the latest news and information, and take stock of how things might play out. There is a lot going on right now, and that is making for a somewhat volatile market. US dollar was broadly higher earlier in the session, gaining on confusion, uncertainty, and worry. However, things are changing a little bit as the session progresses. Euro has managed […]
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January 162013
Euro Struggles as Traders Look for Direction
Euro is struggling today as traders look for direction, and as conflicting information weighs on the 17-nation currency. Euro has been teetering between gains and losses, looking for support. Euro has been the subject of profit taking today, following comments from Jean-Claude Juncker indicating that the euro was too high. These comments contradict ECB member Ewald Nowotny‘s comments that the exchange rate isn’t a concern. These conflicting views […]
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January 162013
Aussie Drops Even as Consumer Confidence Improved
The Australian dollar remained weak today even after consumer confidence improved. The negative mood on the Forex market did not allow the currency to profit from the report, which in fact was not that good. The Westpac Melbourne Institute Index of Consumer Sentiment rose by 0.6 percent in January (to 100.6 from 100.0 in the previous month). That increase, which was not very big, followed the drop by 4.1 percent in December. The report […]
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January 162013
Trading Environment Negative for Yuan
The Chinese yuan was flat today, but may yet fall as the trading environment was negative for the currency after the People’s Bank of China reduced its reference rate and concerns about the global economy made riskier currencies unattractive for investors. The PBoC cut its daily fixing by 0.09 percent, the most since September 18th, to 6.2745 per dollar. Yesterday, the market sentiment was rather negative amid bad news from […]
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January 162013
EUR/USD Drops on Juncker’s Comments
EUR/USD continued to drop today as Eurogroup leader Jean-Claude Juncker said yesterday that the euro’s exchange rate is too high. Ewald Nowotny, the member of the European Central Bank governing council, said today that he is comfortable with the current level of the shared European currency, but his comments did not help the euro. Today’s data from the United States was rather encouraging, except for the Consumer Price […]
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January 162013
Yen Gains for Second Day on Speculation Drop Was Overdone
The Japanese yen gained yesterday and extended its rally today as some Japan’s politicians were speculating that the recent huge drop of the currency was overdone. The yen was also strong on negative fundamental reports from the United States and Europe. Japanese Economics Minister Akira Amari warned that the weakness of the yen may be not entirely positive for Japan’s economy. Amari said yesterday: If the yen excessively weakens, this […]
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January 162013
CAD Loses vs. JPY, Steady vs. USD
The Canadian dollar held steady against the US dollar and maintained its gains versus the euro even amid negative news that hurt the market sentiment. The currency lost to the Japanese yen yesterday and kept the losses today. The negative manufacturing report from the United States reinforced the pessimistic mood caused by poor macroeconomic data from Europe. Commodities reacted negatively to the news and that translated to riskier currencies. Crude oil dropped 0.7 […]
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