The Japanese yen jumped today amid growing concerns about a potential outcome of the European Union leaders’ meeting, especially about the uncertain future of Greece. Greece remains the main source of risk aversion on Forex market. Some economists speculate that the current bailout wouldn’t be enough to rescue the country from its credit problems. Additionally, there are rumors that EU chiefs discuss a direct intervention in the nation’s budget. Greece … “Europe Causes Concerns, Makes Yen Preferred Currency for FX Traders”
Month: January 2012
Canadian Dollar Pulls Back
Canadian dollar is pulling back today, heading lower as risk appetite fades away, and as oil prices drop. Commodity currencies are struggling right now on risk aversion and a higher US dollar. It’s not surprise that the loonie is experiencing difficulties as well. Risk aversion seems to be the driving force today. Thanks to the latest news out of the eurozone, many risker currencies are lower today. Indeed, the news … “Canadian Dollar Pulls Back”
US Dollar Rises as Greece Takes Center Stage
US dollar is rising as Greece once again takes center stage in the world markets. Greenback is gaining as concerns about what’s next for Greece — and the eurozone — weighs on risk currencies, especially the euro. For now, Forex traders are looking for safe haven. With worries about Greece as European leaders meet in Brussels, there are worries that an agreement about what to do about Greece will be … “US Dollar Rises as Greece Takes Center Stage”
USD/JPY: Trading the US CB Consumer Confidence January 2012
The Conference Board Consumer Confidence Index is based on a monthly survey of about 5,000 households regarding their opinion of the economic conditions and the overall economic climate. Its release often has a strong impact on market prices. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Tuesday at 15:00 GMT. Indicator … “USD/JPY: Trading the US CB Consumer Confidence January 2012”
Turkish Lira Down Ahead of EU Summit
The Turkish lira was down today after four sessions of gains as investors preferred a cautious approach during the discussions about a Greek debt haircut, avoiding riskier assets. Today, leaders of the European Union gather at the first summit this year. Economists believe that an agreement about Greece’s debt writeoff would be achieved, but traders weren’t willing to take chances and preferred to stay away from risky currencies. The lira … “Turkish Lira Down Ahead of EU Summit”
Chinese Yuan Gains as Dollar Weakens
The Chinese yuan appreciated today after the week-long holiday in China as the Federal Reserve pledged to keep interest rates low, weakening the US currency. Analysts explain that the appreciation of the Chinese currency is a result of the weaker dollar, rather than an attempt of Chinese policy makers to make the yuan stronger. The Dollar Index was down 1.7 percent last week. Economic data this week may hint at a potential stance of China regarding … “Chinese Yuan Gains as Dollar Weakens”
European Cliff Hanger – Spain
A new government came into power in the last days of 2011. Prime Minister Rajoy announced new taxes and fresh cuts. Europe’s fourth largest economy has a much lower debt pile than Italy and enjoys lower yields. Yet Spain faces a recession. It will be hit hard during the winter which is low season in … “European Cliff Hanger – Spain”
Dollar Is Headed Even Lower In Coming Weeks
A sharp fall from 81.80 area seen in the past few weeks is impulsive, which means that we have a temporary top in place, likely of a wave I, which was an expanding diagonal. That is type of a motive wave, where structure allows overlap between waves four and one. With this being said, at … “Dollar Is Headed Even Lower In Coming Weeks”
NZD/USD: Trading the New Zealand Building Consents
The New Zealand Building Consents indicator, released monthly, measures the change in the number of new building approvals issued. It is one of the most important indicators for the construction sector. A reading which is higher than the market prediction is bullish for the New Zealand dollar. Here are all the details, and 5 possible outcomes for NZD/USD. Published on Monday at 21:45 … “NZD/USD: Trading the New Zealand Building Consents”
Forecast: No Hope for Euro in 2012?
The euro had a rough time since the recession in 2008. Some people even talked about disintegration of the shared 17-nation currency. Such talks receded in 2010, but returned in 2011, though there are not many analysts who believe in a collapse in the eurozone, at least in the near future. Unfortunately for those traders who want to be bullish on the euro there are not many reasons, if any, to be optimistic about the currency. … “Forecast: No Hope for Euro in 2012?”