Germany still enjoys a robust economy. Factory orders jumped by 5.2% and corrected the drop of 4.6% seen last month. Expectations stood on a more modest rise of 0.9%. The original report for last month was a drop of 4.3%. EUR/USD is higher now, at the high end of the 1.3360 – 1.3420 range. This … “German Factory Orders Leap by 5.2% – EUR/USD at High”
Month: December 2011
GBP/USD: Trading British Manufacturing Production
The British Manufacturing Production indicator provides analysts and traders with a snapshot of the health of the manufacturing sector. A reading which is higher than the market prediction is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 9:30 GMT. Indicator Background The British Manufacturing … “GBP/USD: Trading British Manufacturing Production”
New Zealand Dollar Retreats as S&P Hurts Market Sentiment
The New Zealand dollar fell today, as well as most other currencies, as the prospects for credit rating downgrades by Standard & Poor’s hurt Forex traders’ confidence and willingness to buy riskier currencies. The FX market is currently in an uncertain position. The summit of the European Union members this Friday will likely have a tremendous impact on the market, but before the meeting the market sentiment can shift in any direction depending on a nature of news. So … “New Zealand Dollar Retreats as S&P Hurts Market Sentiment”
CAD Attempts to Rally, Again Without Success
The Canadian dollar attempted to rise yesterday as the European leaders gathered to discus possible changes to the European Union regulations, but the currency dropped back as Standard & Poor’s put the credit ratings of the EU countries on review. France’s and Germany’s leaders talked about possible ways to bring closer integration of the Eurozone countries and that was positive for the loonie (as the Canadian currency is often nicknamed for the image of the aquatic bird on the C$1 coin). But then … “CAD Attempts to Rally, Again Without Success”
Japanese Yen Gains in Forex Trading
Japanese yen is higher in forex trading this afternoon, after losing ground earlier. The initial excitement over the announcement from the eurozone is fading and the yen is gaining. Earlier, the announcement that eurozone countries are agreeing to re-visit the way the economy is set up boosted the euro and other currencies against the yen. The attempt will be to integrate the economies of individual countries a little closer in order to prevent further debt … “Japanese Yen Gains in Forex Trading”
Won Gains on US Employment & Hopes for Europe, Falls Again
The South Korean won gained today as the positive US employment report reduced investors’ fear of a new recession, while hopes that the European leaders would find a way to resolve the region’s crisis further bolstered the South Korean currency. The won later fell. The US non-farm payrolls grew last more than in the month before, spurring the speculation that the US economy is on track to recovery. France and Germany are discussing measures … “Won Gains on US Employment & Hopes for Europe, Falls Again”
Rupee Falls, Will Central Bank Intervene?
The Indian rupee fell today, reigniting the speculation that the nation’s central bank will intervene to support the currency as the excessive depreciation of the rupee may lead to a surge of the inflation. The negative impact of the European crisis hit the rupee hard and the currency fell 13 percent this year, being the worst performer among the Asian currencies. Subir Gokarn, Deputy Governors of the Reserve Bank of India, said that the currency’s decline shouldn’t be considered as a sing … “Rupee Falls, Will Central Bank Intervene?”
ECB Buys Less Bonds as Sentiment Improves
The European Central Bank bought less bonds of peripheral countries in the past week: only 3.662 billion. This is lower than last week and far lower than 8.581 billion it bought two weeks ago. This fall comes as hopes are high once again for the European Summit this Friday. Yields on Spanish and Italian bonds … “ECB Buys Less Bonds as Sentiment Improves”
Euro Gains as Leaders Work to Keep Currency Intact
Euro is gaining in Forex trading this morning as traders look with hope toward Europe. Eurozone leaders have been working to save the euro, and there is hope that this time something will be resolved on. European leaders are trying to work out a deal that protects Italy and Spain, as well as changes the way the eurozone is governed economically so that debt crises can be … “Euro Gains as Leaders Work to Keep Currency Intact”
Euro Exit Mechanism Could Be Agreed in Upcoming Summit
There are intense discussions between Berlin and Paris regarding a comprehensive solution to the debt crisis. This time, the leaders are discussing a possible quantum leap in European integration: a fiscal union. The talk about a fiscal union could hide less union: those who break the rules could leave the common currency or be thrown … “Euro Exit Mechanism Could Be Agreed in Upcoming Summit”