The Thai baht dropped today, posting the biggest weekly loss this year. Foreign investors reduced holdings of the nation’s shared on fears that the crisis in Europe would slow global economic growth. Nalin Chutchotitham, an analyst at Kasikornbank, explained the situation: Investors are risk-averse and stock markets and Asian currencies can still test the weaker side. Importers may be buying the dollar as well because month-end demand is usually high and also … “Baht Posts Biggest Weekly Drop in 2011”
Month: May 2012
Euro Rallies to New Lows
The euro was rallying to new lows today, reaching the lowest level since 2010, on concerns that regional governments of Spain would meet obstacles in reaching capital markets. Artur Mas, the President of Catalonia, asked Spanish central government to aid regions access funding. Deputy Prime Minister Soraya Saenz de Santamaria said that the government is reviewing âwith all cautionâ requests from regional governments to help them … “Euro Rallies to New Lows”
US Dollar Strengthens as European Problems Continue
Earlier, the US dollar fell back a little bit on the Forex market. However, the greenback is once again higher against its European counterparts, gaining as uncertainty over Greece — and other countries in the eurozone — continues. US dollar is gaining against the euro and the Great Britain pound today, heading higher as risk aversion prevents Forex traders from preferring high beta currencies. European currencies are lower as continued concerns … “US Dollar Strengthens as European Problems Continue”
Japanese Yen Remains Stronger Against European Currencies
The Japanese yen continues to appreciate against European currencies, thanks to the uncertainty in Europe. Concerns about what’s next for the eurozone are weighing on risk, and the Japanese yen is once again being used as a safe haven currency. Japanese yen is heading higher against European currencies like the euro and the Great Britain pound today. Once again, yen is receiving a boost as uncertainty in Europe — especially over Greece — … “Japanese Yen Remains Stronger Against European Currencies”
Canadian Dollar Remains Depressed by European Crisis
The Canadian dollar fell today, dropping for the fourth straight day against its US peer, as fears of a collapse of the eurozone made Forex traders prefer the US currency to the Canadian one. The currency was flat against the yen. The prospect of an exit of Greece from the eurozone is still haunting investors and is likely to persist until the elections in June. China and the United States also add to uncertainty from time to time as some indicators signal … “Canadian Dollar Remains Depressed by European Crisis”
Spike of EUR/USD Leads to Speculation About SNB Intervention
The Swiss franc fell after a spike of the EUR/USD currency pair lead to speculations that the Swiss National Bank may take additional measures to erode the role of the franc as a safe haven. Yesterday, for a short time, EUR/USD climbed to the highest level since March. The currency pair quickly pulled back, but that was enough to spur talks about another intervention by the SNB. There were rumors that the central bank plans to introduce … “Spike of EUR/USD Leads to Speculation About SNB Intervention”
Euro Can’t Maintain Gains in Forex Trading
Earlier, the euro showed signs of fight as it headed higher against the US dollar. Now, though, the euro can’t maintain gains in Forex trading and is headed lower. Worries about the eurozone, and what’s next for the currency region, are causing doubt, and uncertainty means that Forex traders are looking for safety — and safety can’t be found in the euro right now. After seeing some earlier gains and breaking back … “Euro Can’t Maintain Gains in Forex Trading”
Better Data Boosts Risk Appetite, Sending US Dollar Lower
US dollar is moving lower right now, thanks to improved risk appetite. Most of that risk appetite is coming from enthusiasm over better data in the United States. Improvements to the US economy are helping high beta currencies, even after continued disappointment in Europe and China. Good news in the United States is providing a boost to high beta currencies, and sending the US dollar lower, as risk appetite returns … “Better Data Boosts Risk Appetite, Sending US Dollar Lower”
Kiwi Pauses Decline, Can It Keep Gains?
The New Zealand dollar stalled its declined and rebounded today on speculations that losses were excessive. Gains were limited, though, as the disagreement between European leaders hurt demand for higher-yielding assets. Losses were indeed big as the kiwi (the nickname of New Zealand’s currency) was falling since the beginning of May against the greenback and since the beginning of March versus the yen. In fact, just yesterday the currency touched the lowest level this year. … “Kiwi Pauses Decline, Can It Keep Gains?”
Rupee Suffers on EU Summit & Poor Prospects for India’s Growth
The Indian rupee dropped today as a disagreement for the European leaders about a way to tackle the debt problems lead to risk aversion sentiment on the Forex market that hurt riskier currencies of emerging markets. Still, the currency managed to rebound at present. As was expected, the summit of the European Union chiefs has not provided a positive result. And the rupee desperately needs a bullish story, but it has not found it in Europe and it is not … “Rupee Suffers on EU Summit & Poor Prospects for India’s Growth”