Canada’s dollar continued to rise today, following yesterday’s advance, on the signs that the economy of the United States is improving, while the economy of Canada itself also shows signs of recovery. The unemployment claims fell from 385,000 to 366,000 last week. The Producer Price Index rose 0.3 percent, while the New York manufacturing index and the Philadelphia Fed Business Outlook Survey showed that manufacturing expanded this month. Canada’s leading … “Canadian Dollar Rises as Economies of USA & Canada Improve”
Month: December 2011
Japanese Yen Stronger Against US Dollar
Japanese yen is stronger against the US dollar today. In general, dollar is down against most other currencies as optimism improves on the news that jobless claims have dropped to significantly low levels. This same optimism is also prompting the euro to gain against the Japanese yen. Better economic news out of the United States is providing some strength for the euro, as the 17-nation currency is bought as more optimistic … “Japanese Yen Stronger Against US Dollar”
US Dollar Drops as Optimism Spurs Risk Appetite
US Dollar is falling back as Forex traders find some optimism in today’s good economic news. Jobless claims have fallen to lows not see for more than three years, and investors and traders alike are excited about the news. Jobless claims fell to 366,000, seasonally-adjusted. Yesterday, it was all about Italian debt costs, and the US dollar was higher. Today, though, the eurozone’s troubles have been … “US Dollar Drops as Optimism Spurs Risk Appetite”
Euro Snaps Decline After Spanish Debt Auction
The euro ended its three-day drop against the US dollar and the Japanese yen as the outcome of Spain’s debt auction was much better than anticipated, relieving concerns about the European sovereign-debt crisis to some extent. Spain sold at the auction â¬6.03 billion of bonds today. That was almost two times above its maximum target of â¬3.5 billion. The yield on the 10-year notes rose only slightly to 5.545 percent from 5.433 … “Euro Snaps Decline After Spanish Debt Auction”
Franc Gains as SNB Maintains Cap
The Swiss franc climbed today after Philipp Hildebrand, Chairman of the Governing Board of the Swiss National Bank, announced that the central bank would keep the ceiling at 1.20 francs per euro and leave the main interest rate unchanged. There were many talks about possible increase of the cap for the Swiss currency. Such speculations proved untrue, at least for now, as the SNB refrained from weakening the Swissie further. Hildebrand wrote in the statement: The Swiss … “Franc Gains as SNB Maintains Cap”
Real Dips as Brazil’s Economy Slows
The Brazilian real weakened today, following other riskier currencies in decline, on the signs that Brazil’s economy felt the negative impact of the European sovereign-debt troubles on the global economic recovery. The seasonally adjusted index of the Brazilian economic activity, which often foreshadows a change of the gross domestic product, dropped 0.32 percent in October from September, compared with the median forecast of a 0.1 percent decline. Analysts are concerned as the retail sales and industrial output … “Real Dips as Brazil’s Economy Slows”
European Crisis Continues to Hammer Down Canadian Dollar
The Canadian dollar continued to fall as the concerns for Europe continued to intensify. The indecisiveness of the European governments makes investors ask whether the politicians have ability and willingness to address the region’s issues or they would allow the European Union to fall apart. Two major negative events occurred in Europe. First, the yield on the Italian and Spanish bonds jumped. Second, Germany refused to boost the European bailout fund. As a result, the futures on crude oil, the key Canadian export, … “European Crisis Continues to Hammer Down Canadian Dollar”
Rate Cut Sends Norwegian Krone Lower
The Norwegian krone is lower on the Forex market today, thanks in large part to a rate cut. Norges Bank cut interest rates for the first time since 2009, and the move is an indication that the economic situation in Norway may not be very strong. Norges cut the interest rate from 2.25 percent to 1.75 percent, a reasonably hefty rate reduction in response to the growing concerns about Europe. Norway had been seeing … “Rate Cut Sends Norwegian Krone Lower”
Euro Tanking as Costs of Italian and Spanish Debt Rise
Euro is tanking today, moving below the psychologically important 1.30 level as funding pressures continue for some eurozone countries. Italian and Spanish debts are more expensive, and European Union leaders are still struggling with a solution that will improve the current situation, as well as prevent future crises. So far, attempts to come up with a real solution to European funding problems have failed. European Union countries … “Euro Tanking as Costs of Italian and Spanish Debt Rise”
FXStreet Forex Studies – Cool Trading Tools
Forex portal FXstreet has launched a new service called My FX Studies. This is a new array of tools for traders, currently in beta. The tools include a heat map, moving averages, a currency strength chart and more. The design is simple, intuitive, bright, easy to use and to configure. Here is a review of … “FXStreet Forex Studies – Cool Trading Tools”