Euro is moving higher right now as the markets calm down from yesterday’s huge break down. Concerns about the global economy, along with a mass downgrade of banks by Moody’s Investors Serve, send markets tumbling out of control yesterday. Today, though, things are calming down a bit, and the euro is seeing a bit of a lift. Providing some help for the euro on the Forex market is the fact that the eurozone’s “Big … “Euro Moves Higher as the Markets Calm Down”
Month: June 2012
Aussie Drops with Global Equities
The Australian dollar slumped as Moody’s Rating Agency lowered credit ratings of several banks and global stocks dropped, giving evidence that markets are currently in a risk-off mode that is negative for commodity currencies. The Standard & Poorâs 500 Index dropped as much as 2.2 percent yesterday, demonstrating the biggest daily fall since June 1. The Stoxx Europe 600 Index was down 0.5 percent. Moody’s cut ratings … “Aussie Drops with Global Equities”
Loonie Drops on Poor Canadian Retail Sales
The Canadian dollar slumped against its US counterpart and erased its gains versus the Japanese yen today as Canadian retail sales unexpectedly fell. Still, the currency was higher against the euro. Canada’s retail sales dipped 0.5 percent in April from March, Statistics Canada reported. Analysts promised that the sales would rise with the approximately same 0.4 percent rate as in March. The poor data spurred speculations that … “Loonie Drops on Poor Canadian Retail Sales”
ITC 2012 Highlights
The 5th edition of FXStreet’s International Traders’ Conference is still going on, but it’s safe to say after two days that it’s a great success: interesting talks, interactive live trading session The speakers provide a perfect mix of sophisticated and straightforward technical analysis, a fundamental outlook for the dollar and last but certainly not least: … “ITC 2012 Highlights”
Mexican Peso Dips as Fed Lowers Growth Forecast
The Mexican peso dropped today as the outlook for US economic growth is not very optimistic, reducing demand for exports of the Latin American country. Prospects for slower growth reduce attractiveness of emerging markets’ assets. That is a common trend among export-dependent economies. Mexico relies less on trading with Europe and more with the United States. Previously, that could have buoyed up the currency. Yet, the US central bank lowered … “Mexican Peso Dips as Fed Lowers Growth Forecast”
Rand Drops While Current Account Deficit Widens
The South African rand slumped today as the nation’s current account deficit surged more than expected because of slowing global economic growth that damped demand for South African exports. The shortfall rose to 4.9 percent of South Africaâs gross domestic product in the first quarter of this year up from 3.6 percent in the previous quarter. The median forecast was 4.5 percent. The problems of Europe hurt demand for commodities and that, in turn, … “Rand Drops While Current Account Deficit Widens”
US Dollar Holds Its Own
US dollar is maintain its gains, and finding support, as the euro falters, and concerns about the global economy take precedence. Greenback is getting a boost as Chinese data, and European data, disappoint. US dollar is finding support today in Forex trading as economic news reduces risk appetite. The slightly better jobless claims report in the United States shows that at least there are signs of recovery. This is opposed … “US Dollar Holds Its Own”
Euro Slips on Worsening Economic Outlook
The economic outlook is worsening in Europe, and that is bringing the euro down against the US dollar in Forex trading. Concerns about what’s next for the eurozone, as well as for the euro itself, are weighing on the 17-nation currency right now. Economic concerns are rising in the eurozone, and that is weighing on the euro right now — no matter what traders and others think will happen with the sovereign debt crisis. June represents … “Euro Slips on Worsening Economic Outlook”
EUR/USD: Corrective Bounce To 1.2800 Before Pair Turns Bearish
The Euro is still trapped in tight ranges around 1.2700 in the markets and it is more than obvious that the corrective rally that started at the beginning of June is incomplete. Notice that in the recent sell-off, the market did not break through the lower support line of a corrective channel, which means that … “EUR/USD: Corrective Bounce To 1.2800 Before Pair Turns Bearish”
Aussie Flat as News from USA & Europe Mixed
The Australian dollar was flat today as the outcome of the Federal Reserve policy meeting was somewhat disappointing and news from Europe was mixed. The Aussie advanced versus the yen, which dropped against all of 16 most-traded currencies. The Fed said that it is going to expand its asset purchase program, replacing short-term bonds with longer term debt. The long-awaited announcement of additional stimulus had not the expected impact … “Aussie Flat as News from USA & Europe Mixed”