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Day: March 13, 2013
March 132013
EUR/USD Plunges as US Economy Looks Better than European
The US dollar climbed against the euro today as the US economy continued to perform much better than the European one. The currency fell a little against the Great Britain pound and was flat versus the yen. Today’s data from Europe showed that its economy continues to struggle. Eurozone industrial production fell 0.4 percent in January from December. French non-farm payrolls dropped 0.3 percent in the fourth quarter of 2012 from […]
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March 132013
Euro Shows Weakness after Economic Data
Euro is showing weakness today, thanks in large part to disappointing economic data. Also impacting the outlook for the euro are continued difficulties in Italy and other periphery countries. It’s hard to get excited about the euro when more hurdles seem to be thrown up. The latest industrial production data out of the eurozone indicates that the economy continues to struggle. Industrial production sank 0.4 per cent overall, which is […]
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March 132013
Sterling Higher, But Weakness Remains
UK pound is a little higher today, gaining ground after yesterday’s drop following unexpectedly poor data. Even though sterling is seeing gains right now, the currency remains vulnerable. Long term weakness is likely. Yesterday, data involving January’s industrial output in Britain showed a sharp drop that sent the UK pound tumbling against its major counterparts. The drop was precipitous, putting the sterling […]
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March 132013
Yen Gains as Politicians Divided About BoJ Leadership
The Japanese yen advanced today on signs that nation’s politicians are divided about leadership of the central bank, raising speculations that additional stimulus may be postponed. Some opposition parties voted against deputy governor nominee Kikuo Iwata. Others were against the nomination of Haruhiko Kuroda as the Bank of Japan Governor. The division about the future leadership of the central bank means that the additional accommodative measures will likely be […]
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March 132013
NZD Weakens Ahead of RBNZ Meeting on Concerns About Drought
The New Zealand dollar declined against other most-traded currencies today on concerns that drought that the country is experiencing will worsen hurting the New Zealand economy. Adverse weather in New Zealand can be detrimental to the nation’s economy, which for a large part depends on agriculture. The Reserve Bank of New Zealand will hold its policy meeting by the end of today’s session. No change to the monetary policy is expected. Economists […]
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March 132013
EUR/USD Down After Italian Bond Auction
EUR/USD dropped after the Italian debt auction. Italy achieved its target, but the auction was viewed as a negative event by market participants because yields were rising. Most reports from the United States were good, but the federal budget balance posted a huge deficit in February after demonstrating a surplus in the prior month. Retail sales rose 1.1% in February after increasing 0.2% in the preceding month. The projected growth was 0.5%. […]
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