The Swedish krona climbed today as Sweden’s economy demonstrated solid growth in the past quarter, adding to the appeal of the currency. Swedish gross domestic product (seasonally adjusted) expanded by 1.4 percent in the second quarter of 2012 from the first quarter, when it grew 0.9 percent. The annual increase was at 2.3 percent. The currency also benefited from the general optimism on the Forex market that carried over from the previous week, though the positive … “Swedish Krona Rides Higher on Good GDP Growth”
Month: July 2012
Japanese Yen Rises as Eurozone Uncertainty Grows
Japanese yen is gaining again, rising as eurozone uncertainty continues to grow. Concerns about what’s next for the eurozone dominate the markets right now, and worries about what could happen next have the yen in high demand as a safe haven. It’s an interesting time of divergence right now. Normally, when risk aversion is on the rise in currencies, stocks head lower. But stocks are actually higher right now, even … “Japanese Yen Rises as Eurozone Uncertainty Grows”
UK Pound Struggles Against Dollar on Recession Concerns
UK pound is struggling against the US dollar today, thanks in large part to concerns about a deepening recession. Fears about a British recession have been mounting in recent weeks, even with the Olympics being hosted in London. Economic focus is on the data in the United Kingdom, and it is doubtful that the Olympic Games are going to be able to counter that. One of the main factors in today’s slide for the UK pound … “UK Pound Struggles Against Dollar on Recession Concerns”
Draghi’s Greek Option
The pledge to do “everything to save the euro” accompanied by “and believe me, it will matter” are still echoing and holding the euro above previous levels, despite the doubts. If the president of the ECB wants to do everything, he could contribute to extinguishing a burning August fire in Greece. Greece is running out … “Draghi’s Greek Option”
USD/CAD: Trading the Canadian GDP Jul 2012
The Gross Domestic Product (GDP) is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on … “USD/CAD: Trading the Canadian GDP Jul 2012”
ECB Preview: Will it Launch Full QE?
Hopes are very high after Mario Draghi said he will do “everything to save the euro” and added “believe me, it will matter”. His words were later echoed by German and French leaders. This comes as Spanish and Italian bond yields are at unsustainable levels for too long, despite many summits. What can Draghi and … “ECB Preview: Will it Launch Full QE?”
Euro Posts First Week of Gains in Four Weeks
The euro posted the first weekly gain this month as Forex traders were more optimistic this week. There were several reasons for the good mood, but the most important one was the pledge of Mario Draghi, the President of the European Central Bank, to do all that is necessary for keeping the euro alive. Draghi promised “to do whatever it takes to preserve the euro”. The pledge was well-received by the FX market and led to risk … “Euro Posts First Week of Gains in Four Weeks”
US Dollar Lower Against European Currencies
US dollar is lower today, heading down against European currencies as risk appetite returns and Forex traders look for better gains. US dollar is down especially against the euro as expectations rise concerning the upcoming ECB meeting. There are expectations that the ECB could buy Spanish and Italian debt to keep yields lower, and prevent more problems. With the ECB pledging full support to the euro, and Germany pledging … “US Dollar Lower Against European Currencies”
Euro Extends Yesterday’s Gains
Euro is extending yesterday’s gains in Forex trading today. Yesterday, the euro got a boost as ECB President Mario Draghi said that everything possible would be done to save the euro. The news has heartened investors and Forex traders around the world and encouraged risk appetite, helping the euro. Trading is a bit choppy today, but EUR/USD has risen above the 1.2300 mark, and is extending its gains. A lot … “Euro Extends Yesterday’s Gains”
EUR/USD July 27 Still Enjoying Draghi’s Dramatic Pledge
EUR/USD jumped after the markets reacted positively to remarks by the head of the ECB yesterday (July 26th). Mario Draghi declared he would do everything in his power to save the euro. US releases were mixed, as Unemployment Claims came in well below the market estimate. However, Core Durable Goods Orders and Pending Home Sales were both weak. The Spanish Unemployment Rate … “EUR/USD July 27 Still Enjoying Draghi’s Dramatic Pledge”