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Day: January 18, 2013
January 182013
Euro Gives Back Some of Its Gains
Euro is giving back some of its earlier gains today. Over the past few sessions, euro has seen some solid gains. However, as growth concerns about the eurozone assert themselves, there are worries about what might be next, and the euro is pulling back. Given the concerns about eurozone economy, it’s not much of a surprise that the euro is giving back some of its recent […]
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January 182013
Risk Aversion Rises, Sending US Dollar Higher
US dollar is heading higher today, thanks to risk aversion in the markets. Disappointing economic news and continued worries about what’s next for the global economy continue to weigh on risk assets. Forex traders are looking for safe haven, and the US dollar is providing that. Once again, concerns about what’s next for the US economy and the world economy are weighing on risk appetite. Risk aversion is on the rise, and traders are […]
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January 182013
Malaysian Ringgit Gets Boost from Global Growth
The Malaysian ringgit strengthened today as investors felt optimistic about the global economy amid signs that growth is picking up and the worse has already passed. Other Asian currency also gained. China’s gross domestic product grew 7.9 percent in the fourth quarter of 2012 following the 7.4 percent increase in the preceding quarter, according to the National Bureau of Statistics of China. The nation’s economic growth accelerated for the first time in two years. […]
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January 182013
NZD/USD Falls with Lower CPI
The New Zealand dollar dropped against its US counterpart today as consumer prices unexpectedly fell last quarter in New Zealand, adding incentive for the central bank to keep borrowing costs low. New Zealand’s Consumer Price Index retreated 0.2 percent in the fourth quarter of 2012, following the increase by 0.3 percent in the previous three months. Analysts were unpleasantly surprised as they had expected an increase by 0.1 percent. The Reserve Bank […]
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January 182013
Anticipation of Intervention Continues to Drive Yen Down
The Japanese yen continued to weaken today on speculations about an intervention from the central bank and as the risk-on sentiment on the Forex market drove traders to currencies with higher yield. The Bank of Japan policy meeting next week makes investors uneasy as they anticipate further easing of the monetary policy. There were some doubts if that is going to happen, which were caused by comments of Economy Minister Akira Amari. Yet now […]
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