The Mexican peso fell today as fears of the European financial crisis intensified after the elections the past weekend revealed growing resentment against austerity measures in European countries. The currency managed to rebound later. The French voted in favor Francois Hollande in the presidential election over Nicolas Sarkozy. Hollande says that Europe needs growth, not austerity. Such view may benefit the eurozone in the long run, but in the immediate futures it spurred … “Mexican Peso Falls as Fears Grow After European Elections”
Month: May 2012
Canadian Dollar Steady Today
Canadian dollar is mostly steady today. Amidst uncertainty about Europe, and concerns about what’s next, the loonie is managing to hold its own, especially against the US dollar. Risk aversion isn’t as big a deal as might have thought after the weekend in Europe. However, there is little domestic data to change the course of the Canadian dollar, and volumes are low due to a holiday close for the markets in London. Even though … “Canadian Dollar Steady Today”
Aussie Sees Some Improvement
After an interesting weekend, the Aussie is seeing some improvement today as the Down Under currency is seen as a safer bet than European currencies right now. After the elections in France and Greece, many are wondering what’s next for the eurozone, and that is giving the Australian dollar a bit of a boost today. Aussie is even higher against the US dollar — and there is some risk aversion in the markets as traders wonder … “Aussie Sees Some Improvement”
Euro Dips on European Elections, Rebounds
The euro dipped to the four-month low today on the outcome of French and Greek elections the past weekend. The currency managed to rally, but remains far below the Friday’s close. Francois Hollande won the election in France. Such outcome was not unexpected, but it is still negative for the euro. Voters in Greece preferred parties that stand against austerity measures. On top of that, German Chancellor Angela Merkelâs party had a very bad … “Euro Dips on European Elections, Rebounds”
Swissquote Launches WTI Crude Oil Trading
Swissquote Bank launched trading of West Texas Intermediate Crude Oil. Trading this future will be allowed on as little as one barrel. The new service will be available on all of Swissquote’s platforms: FXBook, Advanced Trader, Web Trader and MetaTrader 4. The announcement comes as Swissquote reports results for the first quarter of 2012. The results … “Swissquote Launches WTI Crude Oil Trading”
Greeks Voted Against Austerity, But Will They Get it
The people of Greece spoke out: two thirds voted for parties clearly opposing austerity. Nevertheless, Greek election law means that the pro austerity, pro-bailout mainstream parties will likely continue ruling and having the same policy. Many Greeks will likely be even more angry after the elections. Here’s how it works. There are 300 seats in … “Greeks Voted Against Austerity, But Will They Get it”
AUD/USD: Trading the Australian Trade Balance
The Australian Trade Balance, released each month, measures the difference in exported and imported goods and services. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Tuesday at 1:30 GMT. Indicator Background Analysts consider Trade Balance a key economic … “AUD/USD: Trading the Australian Trade Balance”
USD/CHF: Trading the Swiss CPI
The Swiss CPI (Consumer Price Index), which is released every month, is an inflation index which measures the change in the price of goods and services paid by consumers. A reading which 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 … “USD/CHF: Trading the Swiss CPI”
Is US Housing Bottoming Out?
Has the US housing sector reached a bottom, getting close? This is the big question, and the answer is a bit complicated. House prices have fallen by 34% in nominal terms, or 41% in real terms (inflation adjusted). In nominal terms, we are back to 2002, and in real terms back to 1999. This is … “Is US Housing Bottoming Out?”
Dollar Posts Weekly Gains Despite Disappointing Employment Growth
This week was good for the US dollar even though macroeconomic data made traders question whether economic recovery in the United States is stable enough. The greenback was higher against most major currencies, but fell versus the Japanese yen. Europe was the main driver for the gains of the US currency. Spain’s recession, uncertainty caused by elections in various European countries and general fear of the economic crisis forced Forex market … “Dollar Posts Weekly Gains Despite Disappointing Employment Growth”