Canadian dollar is mixed on the Forex market today as traders look for direction. On the one hand, there is a little optimism that is helping the loonie gain, especially against the US dollar. However, there are also downward pressures on the Canadian dollar. Indeed, growth has been slowing in Canada, and some of the recent economic news coming out of the country has been a bit disappointing. Additionally, oil prices are lower … “Canadian Dollar Mixed as Markets Look for Direction”
Month: January 2012
JPMorgan Boosts Turkish Lira
The Turkish lira gained today, touching the highest level in a month, after JPMorgan Chase & Co. said it prefers the lira to the rand as the Turkish central bank has stronger defense. JPMorgan said: The central bankâs backstop for the lira is stronger than ever while official policy support for the rand remains weak. The trade works best in a defensive risk environment, the main risk to the trade is therefore a significant pickup in risk … “JPMorgan Boosts Turkish Lira”
Germany’s Negative Yields – Another Reflection of Distrust in
For the first time, Germany’s bond auction yielded negative yields. Its 6 month bond auction resulted in 3.9 billion euros in fresh funds, with a yield of -0.012%. This means that investors are willing to take a loss in order to hold on to the precious German papers. This emphasizes the loss of trust in … “Germany’s Negative Yields – Another Reflection of Distrust in”
Euro Rises as Merkel & Sarkozy Meet
The euro rebounded as German Chancellor Angela Merkel and French President Nicolas Sarkozy meet today to discuss measures for rescuing Europe from its troubles. Merkel and Sarkozy meet today in Berlin to discuss additional rules to foster tighter fiscal discipline among the countries of the European Union. Traders aren’t willing to continue the sell-off of the euro before the outcome of the meeting will become clear. There were several economic reports today that added … “Euro Rises as Merkel & Sarkozy Meet”
Scalper Protection for Forex Brokers Announced by Leverate
Leverate, which provides software solutions for forex brokers, announced a new version of its Feed Manager Server. This includes a feature that defends against spikes, which are unfortunately common and painful. FMS 2.5 offers protection from arbitragers and scalpers that sometimes bite into brokers’ profits. Previous releases by Leverate include the introduction of Guardian Angel … “Scalper Protection for Forex Brokers Announced by Leverate”
USD/CAD: Trading the Canadian Building Permits January 2012
The Canadian Building Permits indicator measures the change in the number of new building approvals issued. It provides a good indication of activity in the construction sector, as obtaining a building permit is one of the first steps taken in the construction of a new building. A reading that is higher than the market prediction is bullish for the … “USD/CAD: Trading the Canadian Building Permits January 2012”
US Dollar Posts Gains in First Week of 2012
The US dollar advanced this week, reaching a 17-month high against the euro, as concerns about the debt crisis in Europe persisted, while the economy of the United States continued to recover. The US currency was actually falling at the beginning of this week as risk appetite damped demand for safety of the dollar. Growth of manufacturing in the USA and China made traders more optimistic, while the minutes of the Federal Reserve policy meeting undermined the greenback, hinting at a new round … “US Dollar Posts Gains in First Week of 2012”
Chilean Peso Rallies as Inflation Climbs
The Chilean peso rallied after inflation jumped more than was forecast by economists, reducing probability of an interest rate cut by the nation’s central bank. Chile’s consumer prices jumped 0.6 percent in December. That’s three times above the average forecast. Pablo Castro, an economist at Banco Santander Chile, said: There is an almost zero probability that the central bank will cut rates in January. The central bank forecast was … “Chilean Peso Rallies as Inflation Climbs”
Czech Koruna Falls to 19-Month Low Against Dollar
The Czech koruna declined today to the lowest level since July 2010 after minutes of a central bank’s policy meeting showed that policy makers anticipated slower economic growth in the country. Minutes of the Czech National Bank spoke about economic slowdown: It was said several times that the Czech economy was slowing and that no domestic demand-pull inflation pressures were apparent. The slowing growth was attributed mainly … “Czech Koruna Falls to 19-Month Low Against Dollar”
Euro Struggles Continue on Bank Capitalization Concerns
Bank capitalization concerns are the main focus today, especially after the debacle involving UniCredit. Worries about bank capitalization, and a continuation of the sovereign debt crisis in many eurozone states, has the euro heading lower again today. Even better news out of the United States, with the news that the December unemployment rate dropped to 8.5% can’t boost risk appetite. There’s just too much focus on the eurozone, and the debt problems … “Euro Struggles Continue on Bank Capitalization Concerns”