The US dollar extended its losses against most major currencies, including the euro, the Great Britain pound and the Swiss franc, for the third day as positive mood of Forex traders made them prefer currencies with higher yield. The dollar dropped for the third session, but had a nice rally at the first half of the previous week and reached a multi-month record against some currencies. Some analysts claimed that it triggered profit-taking that … “US Dollar Drops on Profit-Taking”
Month: March 2012
Canada’s Dollar Gains on Rally of Stocks
The Canadian dollar gained today as global stocks rallied and positive macroeconomic fundamentals in the United States boosted risk appetite and increased appeal of Canada’s currency. The Standard & Poorâs 500 Index of stocks gained 0.6 percent to 1,412 after reaching 1,412.28, the highest level since May 2008. Futures on crude oil, the major export of Canada, rose 0.8 percent in New York. The loonie also continued to profit from the positive outlook … “Canada’s Dollar Gains on Rally of Stocks”
AUD Falls on Stevens’ Comments
The Australian dollar fell today after Glenn Stevens, Governor of the Reserve Bank of Australia, talked about an economic slowdown in different parts of the world and difficulties the Australian economy may face. Stevens mentioned the slowdown of economic growth in Asian nations, most importantly the in China. As for Europe, the Governor said: In terms of the practical impact of these events, at present we can say that the euro area has been in recession for some months. He wasn’t … “AUD Falls on Stevens’ Comments”
Euro Turns Lower in Forex Trading
Euro is turning lower today, after some gains earlier. Now, though, the 17-nation currency is falling back as Forex traders try to determine what might be next. Talks about combining bailout funds in the eurozone, as well as a bond sale today, are affecting the euro. Initially, the euro got a bit of a boost on the news that bailout funds in the eurozone might be combined. German Chancellor Angela Merkel suggested … “Euro Turns Lower in Forex Trading”
Oil Back To Bullish Mode – Price Can Revist $110.50
Oil has reached new lows, around 103.70 in the past week, from where a sharp reversal occurred. Notice that on Friday, the price moved decisively through the corrective channel resistance line and also slightly below wave (b) termination level, which was a triangle. These are all indications for an uptrend continuation for days and weeks … “Oil Back To Bullish Mode – Price Can Revist $110.50”
Canadian Dollar Choppy Against the US Dollar
Canadian dollar is trading choppily today, moving between gains and losses as investors look for direction. US stock futures are lower, and that is weighing on high beta currencies, but at the same time commodities are higher providing support. Loonie is lower right now, but trying to fight back toward its earlier high. At one point, Canadian dollar had enough juice to bring USD/CAD down … “Canadian Dollar Choppy Against the US Dollar”
Yen Rebounds After Decline
The Japanese yen rebounded today as economists speculated that the currency fell too much to fast. The currency may also rise as investors remained a little cautious about the global growth, but fundamentals still remain somewhat unfavorable for the yen. The yen was previously falling as market sentiment turned to optimism and Japan’s policy makers were talking about an intervention. The currency has reached an 11-month low versus the dollar last week and has … “Yen Rebounds After Decline”
USD/CHF: Trading the Swiss Industrial Production
The Swiss Industrial Index measures change in production in the manufacturing, utilities and mining sectors. A reading that is higher than the market forecast is bullish for the Swiss franc. Here are all the details, and 5 possible outcomes for USD/CHF. Published on Tuesday at 8:15 GMT. Indicator Background Swiss Industrial Production, released quarterly, is an important leading economic … “USD/CHF: Trading the Swiss Industrial Production”
Absence of Quantitative Easing Results in Good Week for Dollar
The US dollar had an interesting week with ups and downs, but in general it can be considered good for the currency as the Federal Reserve’s decision to refrain from quantitative easing made it possible for the dollar to appreciate in the near future. There was plenty of fundamental data that bolstered the US currency, but the decision of the Federal Reserve not to add more stimulus for the economy was the most important. Many market participants were expecting … “Absence of Quantitative Easing Results in Good Week for Dollar”
AUD/JPY Reaches 10-Month High
The Australian dollar advanced against the Japanese yen, reaching the highest price in 10 months, and its US peer on positive sentiment among Forex traders. The currency fell a little versus the euro. The Forex market is shifting from downbeat mood to cautiously optimistic as attention of traders turns from the debt-laden European countries to the United States. The US economy shows signs of robust recovery, allowing investors to feel more comfortable amid economic … “AUD/JPY Reaches 10-Month High”