Yesterday, UK pound gained solidly against the euro, but today some of those gains are being given back. UK pound is lower on a combination of risk aversion, as well as concerns as British politicians consider the effects of British isolation from the rest of the eurozone. Yesterday, Deputy Prime Minister Nick Clegg worried that Prime Minister David Cameron‘s veto of a new European Union treaty left Britain isolated from … “UK Pound Lower as Concern about Isolation Grows”
Month: January 2012
Draghi Pushing for Full QE – Report
According to a report, the president of the European Central Bank is pushing for a full blown and direct Quantitative Easing program, bending the arms of the Germans. This long awaited move could In recent days, the ECB accelerated its SMP bond buying program especially with Italian bonds. This was a response to rising yields, … “Draghi Pushing for Full QE – Report”
Canadian Dollar Drops as Oil Declines & Unemployment Grows
The Canadian dollar fell yesterday and extended its drop today after crude oil declined, while unemployment in Canada unexpectedly increased last month and employment growth was lower than anticipated. The Canadian unemployment rate rose from 7.4 percent in November to 7.5 percent in December, while most specialists in the labor market expected it to stay unchanged. Canadian employers added 17,500 jobs last month, compared to the median forecast … “Canadian Dollar Drops as Oil Declines & Unemployment Grows”
Dollar Rallies, Stalls, Can Resume Advance
The US dollar rallied yesterday as macroeconomic data from the United States was good, while concerns about Europe’s economy persisted. The rally stalled today, but may yet resume as US non-farm payrolls are expected to show robust growth of employment. The employment index of Automatic Data Processing picked up from 204,000 to 325,000 in December from the previous month, while decline was predicted. Unemployment claims fell from … “Dollar Rallies, Stalls, Can Resume Advance”
Yuan Drops as Central Bank Sets Reference Rate Lower
The Chinese yuan was weaker today after the nation’s central bank cut the daily reference rate on concerns that the continuing European crisis would hurt growth prospects. The People’s Bank of China cut the fixing by 0.18 percent. It stands now at 6.3115 per dollar. The cut was biggest since November 15. The yuan also dropped as fears of Europe’s crisis deterred traders from buying riskier assets. Zhu Min, … “Yuan Drops as Central Bank Sets Reference Rate Lower”
Euro Plummets as Concerns Skyrocket
Euro has plummeted below the 1.28 level against the US dollar today as concerns pile up. The latest French bond auction saw higher borrowing costs, and there are renewed concerns about a credit rating downgrade for country. On top of that, Italian banking weakness remains. It is no surprise that the euro is struggling so much today, reaching lows not seen against the Japanese yen in 11 … “Euro Plummets as Concerns Skyrocket”
Aussie Mixed in Forex Trading
Aussie is down against the US dollar as risk aversion continues today, but up against the euro. Concerns about the eurozone crisis have sharpened, and that has investors and Forex traders alike jumpy about what could be next for the global economy. As a result, the Australian dollar is seeing gains against a weaker euro, but losses against the greenback, which is used as a safe haven. Indeed, the eurozone is … “Aussie Mixed in Forex Trading”
USD/CAD: Trading Canadian Employment Change
The Canadian employment change is an important leading indicator which has a significant impact on the markets. Traders and analysts carefully scrutinize employment figures looking for any sign of a market trend, and a reading higher than forecast is bullish for the loonie. Here are the details and 5 possible outcomes for USD/CAD. Published on Friday at 12:00 GMT. … “USD/CAD: Trading Canadian Employment Change”
Pound Jumps to Highest Price in More Than a Year Against Euro
The Great Britain pound jumped against the euro to the highest level in more than a year as concerns about the problems of Europe made the UK currency more appealing. The sterling also advanced versus the Swiss franc, but dropped against the US dollar. Spain had to help Valencia region with a â¬123 million payment to Deutsche Bank AG. Yield on Spain’s 10-year bonds rose 14 basis points as a result. Britain’s currency played … “Pound Jumps to Highest Price in More Than a Year Against Euro”
Canada’s Dollar Suffers from Risk Aversion
The Canadian dollar fell yesterday and continued its decline today against the US currency and the Japanese yen as optimism evaporated from the Forex market. Canada’s currency jumped versus the euro. This year has started with good market sentiment, which didn’t last long, though. Analysts believe that the weak demand for German bonds and the record spread for Hungary’s credit-default swaps made traders’ mood to shift in favor of risk aversion. … “Canada’s Dollar Suffers from Risk Aversion”