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Day: April 18, 2013
April 182013
Loonie Gains Support against Greenback on Recovering Commodities
Canadian dollar is getting a little help today, heading higher after recent losses. The loonie’s success against the greenback is being helped along by higher commodity prices. Canadian dollar is getting a boost against the US dollar today, following a few days of relative weakness. The Bank of Canada recently lowered its economic growth forecast for the country, and it wasn’t helping that commodities were heading lower, either. […]
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April 182013
Euro Gains Ground on US Difficulties
Euro is gaining a little ground today, recovering a bit from yesterday’s drop, and finding a degree of support at the psychologically important 1.30 level. However, there are still some vulnerabilities with the euro. The latest economic data out of the United States is weighing on the greenback today, and that is helping the euro a little bit. After yesterday’s huge drop, euro is showing signs of recovery. Concerns about the US economy, […]
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April 182013
Indian Rupee Gains as Commodities Weaken
The Indian rupee managed to gain today even amid the market sentiment that was negative to risky assets. The rally was caused by hopes that falling prices on raw materials will help to reduce the nation’s current-account deficit. Finance Minister Palaniappan Chidambaram said that the current-account gap was 5 percent of gross domestic product in the fiscal year ended March 31. Gold, which has fallen 14 percent this […]
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April 182013
EUR/USD Rebounds After Big Drop
EUR/USD bounced today after yesterday’s drop that was caused by the downwardly revised global economic growth projections from the International Monetary Fund. Today, the market sentiment is mildly positive, but the optimism is fragile as US macroeconomic data was worse than expected, while disappointing corporate earnings led to a drop of US stocks. Initial jobless claims rose a little to the seasonally adjusted 352k last week from […]
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April 182013
Won Suffers from Global Economic Growth Concerns
The South Korean won declined today as concerns about global economic slowdown made investors pull their capital away from riskier assets. The downward revision of economic growth by the International Monetary Fund sent markets into the risk aversion mode that still persists. South Korean assets were even more vulnerable because of the threat of a war with North Korea. The KOSPI Index dropped as much as 1.2 percent to the close […]
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April 182013
Aussie Recovers After Big Drop
The Australian dollar recovered a bit today against the US dollar and the Japanese yen after yesterday’s big drop. The decline was caused by weakness of commodities and stocks that followed the International Monetary Fund’s economic forecast of this year. The IMF revised its global growth projections for 2013 down from 3.5 percent to 3.3 percent. The news spurred traders to sell riskier assets. The MSCI World Index dropped as much as 1.3 percent […]
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