The Australian dollar kept its gains against the US currency and the euro, but continued to fall versus the Japanese yen after Standard & Poor’s reduced Greece’s credit rating to selective default. Commodity currencies were under pressure at the beginning this week as the Group of Twenty declined Europe’s request for help unless the European Union would bolster its firewall to prevent spreading of the financial crisis. Market sentiment was further hurt … “AUD/USD Falls for Second Session on Prospects of Greek Default”
Month: February 2012
Euro Remains Weak as S&P Reduces Greece’s Rating to Selective Default
The euro remained weaker against other major currencies after yesterday’s slump as Standard & Poor’s reduced Greece’s credit ratings to selective default, adding to concerns about Europe’s debt woes. S&P cut Greece long-term and short-term ratings to SD (selective default) yesterday. The rating agency explained its decision: We lowered our sovereign credit ratings on Greece to ‘SD’ following the Greek government’s retroactive insertion of collective action … “Euro Remains Weak as S&P Reduces Greece’s Rating to Selective Default”
AUD/USD: Trading the Australian Retail Sales
Australian Retail Sales is considered one of the most important indicator of consumer spending. The indicator’s release in the first week of each month provides analysts and traders with an early look at consumer spending. A reading that is higher than the market forecast is bearish for the US dollar. Here are all the details, and 5 … “AUD/USD: Trading the Australian Retail Sales”
LTRO To Set Brakes Loose for Greece?
The second Long-Term Refinancing Operation (LTRO) by the ECB is a key event for the markets. Estimates vary widely, and the average of estimations is around last time’s number. The final number is not that important. What’s more important is that it will fill the coffers of the banks and provide more stability. Will this allow … “LTRO To Set Brakes Loose for Greece?”
NZ Dollar Falls as Trade Balance Posts Unexpected Deficit
The New Zealand dollar was down against its US peer before the big jump that erased the losses and remained weaker against the Japanese yen after New Zealand trade balance posted an unexpected deficit in January. New Zealand trade balance had a deficit of NZ$199 million in January, compared to a NZ$167 million surplus predicted by analysts. The report said that one-off importation of large aircraft had a large influence on the import … “NZ Dollar Falls as Trade Balance Posts Unexpected Deficit”
US Dollar Higher on Risk Aversion
US dollar is getting a boost today as risk appetite fades. After ending last week lower, the US dollar is gaining today as risk aversion makes an appearance, thanks to the results of the G-20 meeting over the weekend. With delegates telling the eurozone to get its act together before approval for more IMF funds will be made, US dollar is higher as Forex traders look for stability. Over the weekend, … “US Dollar Higher on Risk Aversion”
Leverate Offers CorrSight’s Trader Compass to Customers
CorrSight provides real time analytics to to traders. It’s Trader Comapss product providers alerts and guidance to traders, and aims to prevent them from falling into pitfalls. It has now partnered with Leverate, which is a software provider for forex brokers, to provide the compass to Leverate’s customers. Leverate continues evolving rapidly with more products … “Leverate Offers CorrSight’s Trader Compass to Customers”
NZD/USD Should Benefit From Higher S&P – Elliott Wave
The US session is here, and USD is still quite strong despite some pop up on gold and silver. We are still focused on S&P Futures count, where the move from a top is only in three waves with key support/bounce zone comes in at 1345/50 area. Expect a impulse higher here, which will be … “NZD/USD Should Benefit From Higher S&P – Elliott Wave”
Yen Jumps After Falling to Lowest Price in Several Months
The Japanese yen reached a multi-month lows against other currencies, including the dollar and the euro, today, but surged after stocks dropped on concerns that problems in Europe will resurface again. Moodyâs Investors Service warned that probability of a default in Greece “remains high”. The Standard & Poorâs 500 Index declined 0.5 percent, the Stoxx Europe 600 Index went down 1 percent and the MSCI Asia Pacific Index lost … “Yen Jumps After Falling to Lowest Price in Several Months”
Euro Drops after Eurozone Bashing at the G-20
This past weekend, the G-20 meeting in Mexico City seemed to have a common refrain: The eurozone needs to get its act together. Concerns about the eurozone were top of the list at the meeting, with delegates asking questions about the way the entire sovereign debt crisis has been handled. With the world’s uncertainty about the eurozone on display, the euro is much lower today against its major counterparts. Complaints from members … “Euro Drops after Eurozone Bashing at the G-20”