US dollar index is gaining today, heading higher as a combination of risk aversion and better news in the United States help boost the greenback. Worries about the eurozone are sending Forex traders to safe havens, while the better news in the United States is helping cement some of the gains. US dollar is heading higher today against major counterparts. There is an interesting combination of risk aversion and better economic data … “US Dollar Index Rises Today”
Month: April 2012
Mexican Peso Declines as Spanish Debt Auction Makes Traders Concerned
The Mexican peso declined today for the second day as the negative impact of concerns about the eurozone, caused by the Spanish debt auction, overshadowed the positive effect of improving employment in the United States. Spain sold â¬2.6 billion of bonds today. That’s barely above the minimum target. The borrowing costs climbed, while earlier Spain said that public debt will surge to a record this year. The yield on Mexicoâs government securities maturing in 2024 increased … “Mexican Peso Declines as Spanish Debt Auction Makes Traders Concerned”
Spanish Yields Rise, and the Euro Falls
As concerns about the Spanish debt situation continue, and as worries about what’s next for the eurozone resurface, the euro is heading lower. The 17-nation currency is struggling against other major currencies today. One of the biggest worries right now is that Spain will not be able to stick to its austerity budget, meeting its targets. Due to these concerns, it’s more difficult to sell bonds to investors. Higher yields … “Spanish Yields Rise, and the Euro Falls”
Franc Rises vs. Euro, Breaks Ceiling
The Swiss franc broke thorough the cap against euro for the first time it was introduced half a year ago. The currency fell against the US dollar for the fourth consecutive trading session. The franc rose past the ceiling of 1.20 versus the euro for the first time the Swiss National Bank introduced it in September last year. It was no surprise to market analysts as the currency was steadily rising since the initial slump after … “Franc Rises vs. Euro, Breaks Ceiling”
AUD Rises as Employment in USA Improves, Threatened by QE
The Australian dollar rose today on the speculation that labor market in the United States continue to improve. The currency was falling this week on the forecast that the Reserve Bank of Australia may perform quantitative easing. Yesterday, the employment report from Automatic Data Processing showed that US employment continued to grow with steady pace last month. Tomorrow, non-farm payrolls are expected to confirm that, while the unemployment rate is … “AUD Rises as Employment in USA Improves, Threatened by QE”
Russia’s Ruble Follows Crude Oil in Decline
The Russian ruble slid today against the US dollar as crude oil prices declined after US inventories advanced more than was predicted by specialists. US stockpiles of crude climbed by 9.0 million barrels to 362.4 million last week. The expected increase was 2.1 million. Moreover, riskier assets were under pressure after US services industry expanded slower than was anticipated and Mario Draghi, the President of the European … “Russia’s Ruble Follows Crude Oil in Decline”
Risk Aversion Sends Canadian Dollar Lower
Canadian dollar is lower today as risk aversion sets in, and risk currencies lose ground. Loonie is down as investors look for ways to preserve their capital as opposed to seeing big gains. Equities around the world are lower, as are commodities, and that usually correlates with a higher US dollar against high beta currencies. Canadian dollar is pulling back as jitters in the eurozone affect market sentiment around … “Risk Aversion Sends Canadian Dollar Lower”
Fed Doves Could Easily Return to Rule the Roost
Headwinds outnumber tailwinds in the US economy, and only a small string of poor US figures could tip control in the Fed back to the doves. So says Christopher Vecchio of DailyFX. In the interview below, Vecchio discusses the situation of monetary policy, the bigger issues facing Spain, the key for China and the Australian … “Fed Doves Could Easily Return to Rule the Roost”
Android and iPhone apps launched by FXCM
US Forex broker FXCM expanded its mobile reach by launching applications for both the popular iPad tablet computer and the Android based mobile phones (and tablets as well). Mobile trading is on the rise, thanks to the higher availability of smartphones, as well as other reasons. The application consists of no less than 45 chart … “Android and iPhone apps launched by FXCM”
Pound Rises vs. Euro on House Prices & Services
The Great Britain pound reached today the highest level in two months against the euro as house prices rose and services industry expanded. The currency retreated against the US dollar after the initial advance. The Halifax House price index rose 2.2% in March, following the drop by 0.4% in February. The Services Purchasing Managers’ Index advanced from 53.8 in February to 55.3 in March, while a decrease to 53.5 was expected by market participants. Other reports … “Pound Rises vs. Euro on House Prices & Services”