UK pound is gaining against the US dollar and the Japanese yen today as an economic forecast expects growth to pick up in 2012. The Confederation of British Industry believes that Great Britain will avoid a technical recession this year, and that things will pick up. As a result, UK pound is heading higher against low beta currencies. Also helping the pound in Forex trading is the general risk appetite today. … “UK Pound Gains on Economic Forecast”
Month: February 2012
US Dollar Falls on Greek Vote
US dollar is lower as the Greek parliament votes to accept austerity measures requested by Eurogroup leaders as a condition for receiving bailout funds. US dollar weakness is a product of renewed optimism in Forex traders, and expectations for a stronger euro. Risk appetite is back on as Forex traders find new optimism regarding Greece. Lucas Papademos won parliamentary support for the tougher austerity measures the Eurogroup leaders wanted, and that is providing support … “US Dollar Falls on Greek Vote”
Aussie Advances on Growing Number of Home Loans
The Australian dollar gained today after a report showed that the number of home loans in Australia last month rose more than was predicted, while positive news from Greece also bolstered the currency. The number of commitments for owner occupied housing finance rose 2.3 percent on a seasonally adjusted basis in December from November. The median forecast was 1.9 percent, near the November figure of 1.8 percent. The agreement of Greece to take … “Aussie Advances on Growing Number of Home Loans”
Euro Recovers as Greece Accepts Austerity
The euro rose a little against the dollar and the yen today after the Greek parliament agreed on the austerity measures required to get the bailout, easing tensions around Greece and its debt problems. Greek Prime Minister Lucas Papademos won vote in the parliament for austerity that the troika demands from the country. Sacha Tihanyi, a senior currency strategist at Scotiabank, said about the vote: It certainly was helpful and positive for the currency. It probably induced … “Euro Recovers as Greece Accepts Austerity”
Euro Posts Weekly Gains, Future Remains Uncertain
The euro posts gains this week even though it’s unclear whether Greece would receive the next portion of the planned â¬130 billion bailout. The future of the euro remains uncertain as a good outcome of the Greek story is in no way guaranteed. Sentiment about the situation in Greece was changing for the whole week, but it hasn’t deterred the euro from rising. It looked like the week would end on a positive note, but … “Euro Posts Weekly Gains, Future Remains Uncertain”
Chile’s Finance Minister Worried About Strength of Peso
The Chilean peso rose today despite the negative influence that the deadlock in the talks about Greek bailout had on the currency markets. The peso may weaken in the future as Chile’s Finance Minister voiced concerns about impact of the strong currency on the nation’s economy. The peso has gained 6.2 percent in the last month. Chileâs fruit producersâ federation asked the nation’s central bank to rein gains of the currency. Analysts said that the current exchange rate … “Chile’s Finance Minister Worried About Strength of Peso”
Forex Crunch Nominated for FXStreet Forex Best Awards for
I am highly honored to announce that Forex Crunch has been nominated in the annual Forex Best Awards by FXStreet for 2012. The site has been nominated in the Best Fundamental Analysis category, alongside 4 other great sites. The winner is determined by popular vote, which begins on February 20th. The specific category is the “How … “Forex Crunch Nominated for FXStreet Forex Best Awards for”
CAD Drops as Greek Story Takes Troublesome Turn
The Canadian dollar dropped today against the greenback and the Japanese yen, but rose versus the euro, as Greece won’t receive rescue until nation’s leaders would accept deeper budget cuts demanded by other members of the European Union. Just recently it looked like the current part of the Greek story is nearing to a positive end as the country was going to receive the next portion of bailout. But now events took a nasty turn … “CAD Drops as Greek Story Takes Troublesome Turn”
Unrest in Greece Sends Euro Lower
Unrest in Greece and uncertainty about a Greek bailout deal are weighing on the euro today. Euro is lower as concerns about an incomplete Greek debt deal rise. Additionally, continued strikes in Greece, and general unrest in the country, are adding to worries that the Greek parliament won’t vote to accept new measures stipulated by Eurogroup leaders. It is little surprise, then, that euro is falling against the US dollar. Eurogroup … “Unrest in Greece Sends Euro Lower”
US Dollar Gains as Greece Jitters Re-Emerge
Earlier this week, many figured that the situation in Greece was pretty much sorted. However, it appears that this isn’t the case. With concerns rising about Greece yet again, the US dollar is gaining as risk aversion rises and Forex traders look for safe haven. More stipulations for Greece to meet in order to receive ECB bailout funds have been added, and Greek leaders are once again … “US Dollar Gains as Greece Jitters Re-Emerge”