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Day: March 28, 2013
March 282013
Swiss Franc Gains as Uncertainty Remains
The Swiss franc jumped today, suggesting that traders still require a safe haven even as tensions around Cyprus eased somewhat. The rally was rather strong, almost erasing yesterday’s losses versus the US dollar. Forex traders felt a little less concerned regarding the situation in Cyprus. Yet the franc’s (and the yen’s) rally suggests that not everybody is ready to drop safer assets in favor of riskier ones. Indeed, the future […]
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March 282013
Zloty Gains as Cyprus Reopens Banks
The Polish zloty rose today as fears of the financial crisis in Cyprus abated after country’s banks reopened today. The currency may yet be damaged by the unfavorable domestic fundamentals. Cyprus’s banks were reopened today, but lawmakers limited the amount of money that can be withdrawn. Such measure prevented a massive flight of capital from the country’s banking system, alleviating tension among investors to some degree. The zloty gained on the news, […]
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March 282013
Loonie Loses Ground on Lastest US Employment Data
Loonie is losing ground against its major counterparts today, thanks in large part to disappointment over the latest US employment data. Earlier, the Canadian dollar was fluctuating against its counterparts, but it appears that the loonie is moving solidly lower now. The latest initial unemployment claims in the United States has put a bit of a damper on the loonie’s gains. The Canadian dollar often does well when there […]
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March 282013
US Dollar Lower as Lack of Cyprus Panic Helps Risk Appetite
US dollar is lower today after yesterday’s solid gains, and as lack of panic in Cyprus gives risk appetite a bit of a boost. There could still be strength for the US dollar coming later this year, though. For now, though, the US dollar index is lower. Banks in Cyprus opened today, following a hiatus that lasted almost two weeks. The bank openings are accompanied by rules limiting cash withdrawals, […]
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March 282013
EUR/USD Recovers a Little
EUR/USD rose a little today as tensions about Cyprus eased. It is still early to think that problems are over, but for now traders are feeling themselves less adverse to risk. The US data was not particularly helpful to the market sentiment and the Chicago PMI and jobless claims came out worse than was expected. As a positive part of today’s data, US economic growth was near forecast. Initial […]
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March 282013
Yen Gains Despite Kuroda’s Talks About Intervention
The Japanese yen gained today as worries about the situation in Europe overshadowed the talks of Bank of Japan Governor Haruhiko Kuroda about monetary easing and weakening the currency. Kuroda was speaking today to the upper house lawmakers. Earlier this week, he told the lower house that he keeps the target of 2 percent inflation. Such talks did not affect the currency much. The reason for absence of reaction from the yen may be […]
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