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Day: January 29, 2013
January 292013
Loonie Rises for Second Day
The Canadian dollar rose today for the second trading session after the huge drop against the US dollar and the euro that has started in the middle of this month. The bounce was supported by favorable fundamentals, including rising stocks and commodities. Analysts said that CAD rebounded after reaching some key technical levels. Crude oil advanced as much as 1 percent to $97.39 per barrel in New York. The Standard & Poorâs 500 […]
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January 292013
EUR/USD Reaches Highest Rate Since 2011
The euro rose today, erasing its previous losses versus the Japanese yen and touching the highest level since December 2011 against the US dollar, as the sentiment of German consumers was stable this month. The currency fell against the Great Britain pound. The GfK German Consumer Climate remained almost unchanged at 5.8 in January amid optimism of German consumers. The positive data added to last week’s favorable German ZEW Economic Sentiment, […]
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January 292013
US Dollar Drops as Consumer Confidence Falls
US dollar is broadly lower today, losing ground today as the macroeconomic picture internationally is at odds with the latest economic data out of the United States. The macroeconomic picture continues to be somewhat encouraging, with China showing that it is ready to pick up the economic pace, and with the situation appearing to improve in the eurozone, thanks to the fact that Germany appears ready to lead the way once again. With that […]
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January 292013
UK Pound Finds Respite for Now
UK pound has found some respite from its downward spiral — at least for now. Pound is higher against many of its major counterparts right now as Forex traders take a break from sending the currency on its plunge. UK pound has been rather weak recently, plunging lower against other major currencies. The weakness has been rather pronounced, and it appears that, for now, the pound is […]
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January 292013
AUD Rises vs. USD, Drops vs. JPY amid Mixed Fundamentals
The fundamental data was mixed for the Australian dollar today. As a reflection of that, the currency rose against its US peer, but dropped against the Japanese yen. The Conference Board reported that the Australian leading indicators fell 0.2 percent in November, reversing the 0.2 percent gain in the previous month. Meanwhile, National Australia Bank reported that business confidence jumped sharply to 3 in December, rebounding from the November level of -9, which was […]
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January 292013
NZ Dollar Climbs as Trade Deficit Turns to Surplus
The New Zealand dollar climbed today after New Zealand’s trade balance made a very pleasant surprise for market participants, unexpectedly turning from deficit to surplus last month. The currency retreated versus the Japanese yen. The New Zealand trade balance posted the surplus of NZ$486 million in December. That was completely unexpected by analysts as they have anticipated a deficit of NZ$106 million. The surplus was biggest since 1991. Moreover, the November […]
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January 292013
EUR/USD Climbs to Highest Since 2011
EUR/USD was falling today, but later rebounded and touched the highest rate since December 2011. The Forex market is in the risk-on mode and that drives the currency pair higher. The US data was mixed today as the housing market continued to show signs of strength, but consumer sentiment dropped more than was expected. As for news from Europe, the German consumer climate was stable, indicating that the economic environment in Europe […]
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January 292013
CAD/JPY Drops as Moody’s Downgrades Canadian Banks, Rebounds
The Canadian dollar fell against the Japanese yen today after Moody’s Investor Service cut credit ratings of several Canadian banks. Later, the loonie erased losses. The currency gained versus the US dollar and the euro. Moody’s downgraded long-term rates of six Canadian banks by one notch yesterday. David Beattie, Moody’s Vice President, said: Today’s downgrade of the Canadian banks reflects our ongoing concerns that Canadian banks’ exposure […]
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January 292013
Yen Rebounds After Huge Drop
The Japanese yen rose today, advancing for the second session and rebounding from the lowest level since 2010 against the US dollar, on speculations that the recent drop was excessive and on hopes for improvement of the Japanese economy. Traders were buying yen on view that the huge decline, that currency was experiencing since the new government had taken power, was excessive. Additionally, specialists predict that the Japanese economy may improve over […]
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