US dollar is surging against Japanese yen today. The result is a strong expectation for Japanese company earnings, and hopes that things can get back on track for Japan, now that yen weakness is more pronounced. US dollar topped the 80 level against the yen for the first time in months as the Nikkei soared. Japanese companies are looking forward to a new fiscal year, which begins in April. The news of a weakening … “US Dollar Surges against Japanese Yen”
Month: February 2012
Currensee Adds Adantia LLC to the Trade Leaders Network
Forex social network and alternative investment company Currensee announces a strong addition to its Trade Leaders program. Adantia LLC, which is a BarclayHedge “Top Currency Trader” and a Future Magazine’s “Hot New CTA” is joining the network. This addition of Adantia adds to the quality of the “copy trade” program in which anyone can invest. During … “Currensee Adds Adantia LLC to the Trade Leaders Network”
EUR/USD: Trading the US Unemployment Claims
The US Unemployment Claims indicator is published weekly, and measures the number of people filing for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Thursday at 13:30 GMT. Indicator … “EUR/USD: Trading the US Unemployment Claims”
Aussie Falls on RBA Minutes, Pares Losses on Positive Fundamentals
The Australian dollar sank after the minutes of the last central bank’s monetary policy meeting indicated that policy makers are ready to ease the policy further. Currently, the Aussie is attempting to reverse the losses on positive economic reports. The Reserve Bank of Australia noted in its minutes that additional stimulus can be provided if it would be necessary: If demand conditions were to weaken materially, the inflation outlook would … “Aussie Falls on RBA Minutes, Pares Losses on Positive Fundamentals”
Yen Falls, Erases Losses vs. Euro
The Japanese yen retreated today against the US dollar and the euro after Greece received bailout from the European Union. The currency pared its losses versus the euro, though, and gained against the Great Britain pound. Greece got its bailout at last, easing concerns among investors and their desire for safety of Japan’s currency. Forex market participants aren’t certain that the rescue package would make much difference for the struggling economy … “Yen Falls, Erases Losses vs. Euro”
Canadian Dollar Mixed Today
Canadian dollar is mixed today in the wake of the Greek debt deal. Instead of heading higher against the US dollar on risk appetite, though, the loonie has been stilted today. Mixed economic data in Canada is contributing to the mixed Forex performance of the loonie. The Greek debt deal has helped the euro gain some traction in the currency markets, even though there are still some concerns about what’s next. However, … “Canadian Dollar Mixed Today”
Turkey’s Central Bank Lowers Interest Rates, Lira Reacts Negatively
The Turkish lira fell today after Turkey’s central bank unexpectedly decreased its interest rates, following central banks of other nations in monetary policy easing. The Central Bank of the Republic of Turkey decreased its key overnight lending rate from 12.5 percent to 11.5 percent and repo rate from 12 percent to 11 percent. The bank wrote in the statement: Starting from February, core inflation indicators are expected to follow … “Turkey’s Central Bank Lowers Interest Rates, Lira Reacts Negatively”
Euro Flat as Traders Remain Pessimistic Even After Greece Receives Bailout
The euro was flat today after the European finance ministers agreed to provide Greece a bailout, but investors weren’t convinced that the situation in the eurozone will improve in the near future. European finance ministers were meeting yesterday to decide the fate of Greece. They preferred to help the country rather than allow it to face default that could lead to dissolution of the eurozone. The aid package includes a 53.5 percent write-off for the Greek debt. … “Euro Flat as Traders Remain Pessimistic Even After Greece Receives Bailout”
USD/JPY: Trading the US Existing Home Sales Feb 2012
The Existing Home Sales indicator is released monthly, and provides analysts with important data about consumer demand in the housing sector. A higher reading than the market prediction is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at 15:00 GMT. Indicator Background The Existing Homes Sales Report … “USD/JPY: Trading the US Existing Home Sales Feb 2012”
UK Pound Struggles, Even with Budget Surplus in Britain
UK pound is struggling today, even with the announcement that Britain saw its biggest budget surplus in four years during January. The news is being met with calls for more government spending to stimulate the economy, but George Osborne is holding steady, and insisting that more austerity is needed. Chancellor of the Exchequer George Osborne is resisting calls to open the government coffers a little more, now … “UK Pound Struggles, Even with Budget Surplus in Britain”