Day: February 7, 2013

February 7
2013

Euro Lower after Mario Draghi’s Comments

Euro is lower today, and Mario Draghi’s comments aren’t helping. A combination of concern about the eurozone and general risk aversion is leading to losses for the 17-nation currency. Today, the ECB Governing Council announced that it would keep the eurozone’s benchmark rate at 0.75 per cent. This news was largely expected, and many were more interested in ECB President Mario Draghi‘s assessment of the economic situation. Draghi pointed out […]

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February 7
2013

Loonie Struggles on Latest Permits Data Release

Canadian dollar is struggling today, engaging in rangebound trading against other majors in spite of the general volatility being seen elsewhere in the currency market. The latest building permits numbers are weighing on the loonie, indicating that the economy might be struggling. Loonie is trapped in narrow trading today, particularly against the US dollar. The latest difficulty for the Canadian dollar is that building permits issued in December fell. The value of building […]

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February 7
2013

Is NZ Dollar Attractive After Employment Declines?

The New Zealand dollar weakened today as New Zealand employment unexpectedly fell last quarter even though the unemployment rate significantly dropped. But that does not necessary mean that the currency has lost its attractiveness. Employment fell 1 percent in the fourth quarter of 2012, while an increase by 0.4 percent was expected. At the same time, the unemployment rate fell 0.4 percentage point to 6.9 percent. Traders paid […]

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February 7
2013

Aussie Picks Up as Employment Data Unexpectedly Good

The Australian dollar picked up today, erasing its previous losses, after the employment data came out better than expected, easing concern about economic slowdown in Australia. Australian employers added 10,400 jobs in January from December, when employment fell by 3,800. Much smaller growth by 5,800 was expected by specialists. On top of that, the unemployment rate stayed at 5.4 percent even though it was expected to tick […]

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