The euro ended yet another week with losses, falling to the lowest level in a year against the dollar and to the lowest in a decade against the yen, as Europe enters the new year with its crisis unresolved. The trading was slow in the last week of the year and it’s surprising to see the euro to post such a big drop even as volume was thin. The shared European currency was in the news for the whole year as the crisis in Europe was the major theme … “EUR/JPY Ends Year Below 100 for the First Time Since 2001”
Month: December 2011
Canadian Dollar Mixed in Forex Trading
Canadian dollar is largely mixed in forex trading today, looking for direction as concerns about the oil supply mesh with speculation about what’s next for the global economy. Loonie relies heavily on oil prices for direction in Forex trading, since that is one of its major exports. With oil prices slightly lower today (but up on the year), Forex traders are looking for direction. Additionally, there is uncertainty … “Canadian Dollar Mixed in Forex Trading”
US Dollar Lower Today, But Looks to Post Annual Gain
US dollar is almost universally lower today, thanks to a small amount of optimism as the year draws to a close. However, even though the greenback is lower on the day, the currency looks to post an annual gain against the euro. Indeed, 2011 has been a year of dollar strength as Forex traders have turned to it as a safe haven. With concerns about what’s happening in the eurozone weighing on the euro, and with uncertainty about the state of the global … “US Dollar Lower Today, But Looks to Post Annual Gain”
Kiwi Higher on Good Prospects for US Economy & Equity Gains
The New Zealand dollar advanced today against most major currencies as global stocks gained and outlook for the US economy remained positive, increasing demand for higher-yielding assets. Analysts predict that a report next week will show that manufacturing in the United States expanded. The Standard & Poorâs 500 Index rose as much as 1.1 percent, while the Stoxx 600 Index advanced 0.9 percent yesterday. The MSCI Asia Pacific Index … “Kiwi Higher on Good Prospects for US Economy & Equity Gains”
GBP/JPY Falls as HPI Drops
The Great Britain pound fell today against the Japanese yen to the lowest level in a month as UK house prices declined in December, reinforcing fears of the economic crisis in Britain. The currency rose slightly versus the US dollar. The Nationwide House Price Index fell 0.2 percent this month, following the 0.4 percent increase in the month before. Housing equity withdrawals (change in the total value of new home-secured loans that are not used … “GBP/JPY Falls as HPI Drops”
Loonie Weakens as Europe Troubles Forex Market
The Canadian dollar weakened today against the US dollar and the Japanese yen as Europe continues to trouble the Forex market, while unemployment claims in the United States rose last week. Italy failed to reach its maximum target at the bond auction as it sold â¬7.02 billion of debt, compared to the maximum target of â¬8.5 billion. US jobless claims rose from 366,000 to 381,000 in the week ending December 24. The median forecast was 372,000. … “Loonie Weakens as Europe Troubles Forex Market”
Forint Goes Lower as Borrowing Costs Rise
The Hungarian forint declined today, though it currently attempts to regain strength, as the result of the debt auction wasn’t favorable and the rating agencies downgraded the nation’s credit rating. Hungary sold 15 billion forint ($62 million) of bonds. That’s 18 billion forint below the target. The government rejected all bids for three-year notes. Yield on securities increased to the highest level in more than two years. Standard & Poor’s cut Hungary’s … “Forint Goes Lower as Borrowing Costs Rise”
Euro Fluctuates in Forex Trading
Euro is fluctuating between gains and losses against the US dollar today in forex trading. The 17-nation European currency is looking for direction as forex traders prepare to close out positions as the year draws to a close. The difficulty with the euro today is one that offers an interesting conundrum for Forex traders. On one hand, economic news in the United States has improved, and indications are that the economic superpower is on the road to recovery. … “Euro Fluctuates in Forex Trading”
Japanese Yen Leads the Majors in Thin Trading
Japanese yen is leading the majors today as trading thins out during the second-to-last trading day of the year. In an interesting turn of events, equities have decoupled from their normal association with high beta currencies as the euro and the pound lose ground against the yen. US dollar is also down against the yen. Even though equities are mostly higher today in Europe and the United States (Asian equities ended mostly … “Japanese Yen Leads the Majors in Thin Trading”
5 Most Predictable Currency Pairs – Q1 2012
Not all forex pairs were born equal. Some will slow down and then bounce back when they approach a distinct line of resistance or support. If momentum is strong, they will break these lines in a convincing manner without looking back. These pairs, that have a better tendency to follow technical rules, are the more … “5 Most Predictable Currency Pairs – Q1 2012”