Euro got a quick 60-pip boost today following the release of CPI data from the United States. Additionally, there are talks that the ESM fund might allow for 700 billion euros instead of 500 billion euros. The move would help calm markets, and that is also providing support for the euro today. In the United States, the CPI reading for February came it at 0.4 percent. That was slightly lower than … “EUR/USD Goosed Higher On General Optimism”
Month: March 2012
NZ Dollar Gains with Global Stocks
The New Zealand dollar gained for the second day today as global stocks rallied and optimism about the economy of the United States spurred risk appetite among investors. The MSCI World Index of stocks was up 1.8 percent since March 9, while the Standard & Poorâs 500 Index closed yesterday at its highest level since June 2008. The kiwi (as the New Zealand currency is often nicknamed) rallied also as the Federal … “NZ Dollar Gains with Global Stocks”
Canadian Dollar Rises on Optimism, Oil Prices
Canadian dollar is heading higher against the US dollar today, gaining as oil prices rise, and as optimism helps high beta currencies. Loonie is getting a boost from general risk appetite today, as well as being helped along by higher oil prices. Even a drop in Canadian manufacturing hasn’t been able to keep the loonie down. In spite of disappointing economic data in Canada, the loonie is finding support on the Forex market. … “Canadian Dollar Rises on Optimism, Oil Prices”
Norwegian Krone Rises, Defies Olsen
The Norwegian krone fell today after central bank’s Governor Oeystein Olsen said that investors will shun riskier currencies, but the krone rebounded and currently trades above the opening rate. The krone slumped after Norges Bank unexpectedly cut its interest rates, but was rising since then. Olsen said in an interview today: At some point there is a risk for investors that the krone weakens. For short-term investors … “Norwegian Krone Rises, Defies Olsen”
5 Signs that a War in Iran is Close
The clock is ticking closer to the midnight hour regarding a strike in Iran. Israel might do it alone, but will likely have the backing of the US. Is a war imminent, or are these moves just meant to scare Iran? Here are 5 signs that have piled up very recently. SWIFT Cuts Iran Off: The … “5 Signs that a War in Iran is Close”
US Dollar Pulls Back in Forex Trading
US dollar is pulling back in Forex trading, heading lower after a few days of strength. Risk appetite is rising, and the greenback is losing steam as Forex traders look for higher yields. The US dollar index is falling, and is down to 80.27. Right now, focus is on better economic news, and risk appetite. Earlier, the news that the Federal Reserve doesn’t plan to do any more quantitative easing … “US Dollar Pulls Back in Forex Trading”
Ringgit on Signs of Economic Slowdown in Malaysia
The Malaysian ringgit fell today on concerns that Malaysia’s economy is slowing and after the US Federal Reserve refrained from quantitative easing, sparking the speculation that there will be less cash available for emerging markets. Industrial output posted annual growth by just 0.2 percent in January, compared to the 2.9 percent advance. Analysts predict that a report next week will show that consumer prices rose 2.3 … “Ringgit on Signs of Economic Slowdown in Malaysia”
Euro Mostly Flat on Disappointing Data
Eurozone data continues to disappoint, leaving the euro mostly flat today. Even though euro is a little higher against the US dollar and the UK pound, gains have been somewhat insignificant so far. Concerns about recession in the eurozone are high, and there are still worries about sovereign debt. Today, a lot of the focus in the eurozone is on the shrinking labor market. Employment continues to sink, falling by 0.2 percent in the fourth … “Euro Mostly Flat on Disappointing Data”
EUR/USD: Trading the UoM Sentiment March 15 2012
The University of Michigan Consumer Sentiment Index surveys consumer attitudes and expectations about the US economy. An increase in consumer confidence is a positive sign about the health of the economy, as consumer spending is a critical component of economic growth. Thus, a reading that is higher than predicted by the markets is bullish for the dollar. … “EUR/USD: Trading the UoM Sentiment March 15 2012”
Franc Jumps as SNB Maintains Ceiling
The Swiss franc climbed today after the Swiss National Bank maintained the ceiling for the currency and increased its growth forecast. The franc rose for the first day after two sessions of decline. The Swiss central bank left its main interest at zero to 0.25 percent range and maintained the cap at 1.20 francs per euro. The bank wrote: There are growing indications that Switzerlandâs economy is stabilising. For 2012, the SNB is now … “Franc Jumps as SNB Maintains Ceiling”