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Day: April 12, 2013
April 122013
USD/JPY Fails to Breach 100 Level as Yen Advances
The Japanese yen closed higher against other most-traded currencies, failing to breach the 100 per dollar level and trimming weekly losses, as Forex traders felt aversion to risk amid uncertainty about global economic growth. Concerns about the eurozone are returning and the US economy has its share of problems. Market participants were less inclined to risk as the trading environment did not look favorable. Stocks dropped as the Standard & […]
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April 122013
Loonie Retreats on United States, Europe, and Commodities
After enjoying a solid performance earlier, the Canadian dollar is now heading much lower on a variety of economic concerns and a drop in commodities. Loonie is headed lower today as the latest US economic data bodes ill for Canada’s largest trading partner. On top of that, there are concerns about the eurozone, and that is weighing on risk appetite in general. Cyprus is once again throwing a wrench into the workings of the eurozone, and there […]
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April 122013
US Dollar Mostly Higher as Risk Appetite Flees
US dollar is mostly higher today, gaining against European currencies as risk appetite flees the scene. The state of Cyprus is once again in the news and having an effect. US dollar is moving lower against the Japanese yen, thanks in large part to worse than expected business inventories in the United States. For February, business inventories only increased 0.1%, rather than the expected 0.4%. As a result, first quarter GDP forecasts […]
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April 122013
Pound Drops Even as Leading Index Rises
The Great Britain pound dropped today even as a report showed that Britain’s leading indicators rose in February. The currency still headed to a weekly gain against the US dollar and the Japanese yen. The Conference Board Leading Index increased 0.4 percent in February. The January growth was revised from 0.2 percent to 0.4 percent, while the gauge declined 0.2 percent in December. The data was rather positive, yet the currency declined. Still, […]
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April 122013
EUR/USD Rebounds After Release of Poor US Economic Data
EUR/USD was heading down today, but rebounded as most US macroeconomic reports came out worse than expected. The drop of consumer sentiment was an unpleasant surprise for traders, but it is important to note that the previous reading received a significant positive revision, making the decrease look bigger than it otherwise could have been. PPI fell 0.6% in March on a seasonally adjusted basis, more than analysts […]
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April 122013
Baht Near Record Since 1997
The Thai baht advanced today, trading near the highest level since 1997. Other Asian currencies, except the yen, also advanced on foreign capital inflows. Investors are attracted to Asian economies, which for the most part looks better than economies in other parts of the world. Aggressive quantitative easing in Japan make speculators takes their money elsewhere. Thailand is one of destinations for foreign capital, especially for carry traders who […]
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April 122013
CAD Touches 7-Week High vs. USD
The Canadian dollar touched the highest level in seven weeks against its US counterpart as the positive market sentiment drove investors to assets that offer higher risk, but also bigger yield. The Canadian New Housing Price Index rose 0.2 percent in February. Forecasters have anticipated it to increase with the same 0.1 percent as in January. Some analysts think that all poor data from Canada has been […]
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