The Australian dollar climbed today, reaching a monthly high versus its US counterpart, after the stimulating measures of the Bank of Japan boosted commodities and global stocks. The currency was down against the yen, though. The BoJ eased its monetary policy today, adding liquidity to markets. As Kathy Lien, a director of currency research at GFT Forex, commented: The only reason why weâre seeing a bit of an upward move in risk is because the Bank … “Aussie Posts Gains as Bank of Japan Boosts Liquidity”
Month: April 2012
Canadian Dollar Gets a Boost in Forex Trading
Canadian dollar is getting a boost today in forex trading, receiving some help from disappointing US economic data. Indeed, a lot of the loonie’s gains today are coming as a result of disappointing news, and less about solid advances made by the Canadian currency. US GDP data for Quarter 1 came in below expectations. Analysts had expected an annualized rate of 2.7 percent, but instead saw 2.2 percent. The disappointment is … “Canadian Dollar Gets a Boost in Forex Trading”
US Dollar Falls Across the Board
US dollar is falling across the board today as some optimism makes an appearance in the markets, and as traders continue to digest the latest statement from the Federal Reserve. The dollar index is down today, and greenback is struggling against its major counterparts. Greenback is heading lower today, dropping even though news out of the eurozone continues to worsen. S&P just cut Spain’s credit rating, but that hasn’t had … “US Dollar Falls Across the Board”
Yen Gains Even as Bank of Japan Adds Stimulus
The Japanese yen gained today as demand for safety overcame Bank of Japan’s attempts to weaken the currency. The yen slumped earlier as the BoJ expanded its asset purchase program to support the struggling economy. Japan’s central bank announced today that it is going to expand its Asset Purchase Program: The Bank decided to increase the total size of the Program by about 5 trillion yen, from about 65 trillion yen to about 70 … “Yen Gains Even as Bank of Japan Adds Stimulus”
Euro Falls as S&P Downgrades Spain
The euro fell today as Standard & Poor’s downgraded Spain’s sovereign credit rating, adding to speculations that the debt crisis is spreading across Europe despite measures taken by European governments. It is no surprise that the rating agency lowered Spain’s grade as nation’s unemployment surged to the highest level in 18 years — a clear signs of problems in the country’s economy. S&P cited reasons for its decision: We believe … “Euro Falls as S&P Downgrades Spain”
Will Spain be Bailed Out by the ECB?
After reviewing Spain’s 5 toxic mix of 5 serious economic problems, what are the prospects for the euro-zone’s fourth largest economy? Austerity can please the markets for a short period of time, and help reduce the debt recycling costs. The debt factor in the debt to GDP equation falls. However, when it causes a lower … “Will Spain be Bailed Out by the ECB?”
Aussie Gets a Boost Amidst Concerns
Aussie is getting a boost today, amidst concerns plaguing other currencies around the world. Australian dollar is moving higher, with a little help from higher gold prices, as well as comparisons to other currencies. Right now, there is a lot of uncertainty surrounding some of the major currencies. Aussie is heading higher against all of these currencies today, as economic concerns take precedences. Australian dollar is higher … “Aussie Gets a Boost Amidst Concerns”
Swedish Consumer Confidence Rises, Krona Follows
The Swedish krona climbed today against most major currencies after a report showed that confidence on Swedish households improved this month, reducing probability of a next interest rate cut by the nation’s central bank. The National Institute of Economic Research reported that the consumer confidence index increased from zero in March to 4.7 in April and also said that confidence is expected to continue improve. The data followed the report two days ago … “Swedish Consumer Confidence Rises, Krona Follows”
Euro Struggles on Weak Sentiment Data
Euro is struggling this morning, thanks in large part to weak sentiment data. Losses have been limited, though, by the information out of the United States about what could happen next with the Federal Reserve. As a result, the euro is hovering around the level of its open, and struggling to move much higher. Earlier, the euro got a solid boost from the announcement from the Federal Reserve that bond buying was an option … “Euro Struggles on Weak Sentiment Data”
GBP/USD Higher as Consumer Confidence Improves
The Great Britain pound rose today against the US dollar after a report showed that confidence of Britons unexpectedly improved last month, muting speculations about quantitative easing from the Bank of England. The currency was down against the Japanese yen. Nationwide Building Society reported that the index of consumer confidence rose to 53 in March from 44 in February. The median forecast was 42. The report warned that the improvement of sentiment … “GBP/USD Higher as Consumer Confidence Improves”