The euro advanced today, reaching the highest price in more than four months against the Japanese yen, after Greece won parliamentary approval for another bailout and on anticipation of positive macroeconomic data. Acting Parliament Speaker Grigoris Niotis said that 213 Greek Parliament members voted for the bailout and 79 were against it. Now, the indebted country may receive the â¬130 billion rescue package. Economists predict that tomorrow’s report … “Euro Rises as Greek Parliament Approves Bailout”
Month: March 2012
GBP/USD: Trading the British Retail Sales Mar 2012
British Retail Sales is considered one of the most important consumer indicators. It provides analysts and traders with a snapshot of consumer spending. A reading that is higher than the market forecast is bearish for the US dollar. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Thursday at 9:30 GMT. Indicator Background … “GBP/USD: Trading the British Retail Sales Mar 2012”
NZ Dollar Slides with Milk Prices
The New Zealand dollar slipped as milk prices declined to the low last seen more than five months ago. The currency also weakened as concerns about slowdown of China’s economy turned investors’ sentiment to risk aversion. Fonterra Cooperative Group Ltd., the biggest dairy exporter in the world, reported that prices for milk powder delivered in May fell to $3,316 per metric ton, the lowest level since October 5. The kiwi (as the New … “NZ Dollar Slides with Milk Prices”
Dollar Gains as China Makes Traders Cautious
The US dollar gained today as signs of an economic slowdown in China damped risk appetite of investors and made them to return to the safety of the US currency that is supported by the positive outlook for the nation’s economy. BHP Billiton signaled that steel production in China is slowing, sending markets in a risk aversion mode. The Standard & Poorâs 500 Index slipped 0.3 percent, following the earlier decline by 0.9 percent. The Dow Jones Industrial … “Dollar Gains as China Makes Traders Cautious”
Rand Ends 3-Day Rally on Concerns About China
The South African rand fell today for the first time after three sessions of gains on concerns that the economic slowdown in China will diminish demand for commodities, reducing attractiveness of South Africa’s commodity-linked currency. China was showing signs that its economic growth is moderating for some time now. It’s bad for commodities and for South Africa’s currency as the South African economy depends on exports of raw materials and China is important … “Rand Ends 3-Day Rally on Concerns About China”
Euro Drops as China Concerns Rise, But Recovers
Euro is dropping today, losing ground as risk aversion sets in on the latest evidence that China’s economy might be slowing. After seeing four days of gains against the US dollar, the 17-nation currency is fell behind, but is now moving higher again. BHP Billiton shared information that steel production in China is slowing, and that has many worried about the state of industry in the up and coming … “Euro Drops as China Concerns Rise, But Recovers”
Japanese Yen Lower, Even as Risk Aversion Dominates Markets
Risk aversion is dominating markets right now, but that isn’t keeping the yen from heading lower today. Instead of getting a boost as a safe haven currency, the Japanese yen remains lower against other majors this morning. It’s been an interesting day so far for the yen, as traders try to find their places. Right now, risk aversion is high as lack of fresh and positive data leads investors … “Japanese Yen Lower, Even as Risk Aversion Dominates Markets”
Malaysian Ringgit Falls as High Fuel Prices Can Hurt Growth
The Malaysian ringgit fell today, followed by other Asian currencies, on concerns that rising energy prices may deter economic growth in the region and, as a result, decrease capital inflow from foreign investors. China increased prices for gasoline and diesel, following the increase of fuel prices in other parts of the world. China is the biggest consumer of oil. Analysts say that Malaysian central bank may keep its interest rates unchanged … “Malaysian Ringgit Falls as High Fuel Prices Can Hurt Growth”
USD/JPY: Trading the US Existing Home Sales Mar 2012
The Existing Home Sales indicator is released monthly, and provides analysts with important data about consumer demand in the housing sector. A reading which is higher 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 14:00 GMT. Indicator Background The Existing Homes Sales Report … “USD/JPY: Trading the US Existing Home Sales Mar 2012”
Iran Moves from Currency to Barter Deals
Sanctions on Iran have escalated recently. Iranian financial institutions were cut off from SWIFT. The Belgium based firm is sometimes considered the “glue” of world’s financial system, enabling international transactions. Iran’s neighbors either shy away from any trade with Iran, or move to alternative ways, bypassing the currency. Currency is a Risk The Iranian rial … “Iran Moves from Currency to Barter Deals”