The Canadian dollar fell today for the third consecutive session versus the US dollar and the Japanese yen as worse-than-expected domestic data in Canada added to the downside pressure on the currency that is caused by signs of global economic slowdown. The Canadian currency was stronger against the euro. The markets reflected the poor mood of traders. The Standard & Poor’s 500 Index of shares was down 0.9 percent today. The S&P GSCI Index, which tracks 24 … “Poor Canadian Retail Sales Add to Pressure on Loonie”
Month: July 2012
Dollar Reaches Two-Year High vs. Euro
The US dollar reached the highest level in two years against the euro and erased its previous losses versus the Great Britain pound today as concerns about the debt crisis in the European Union drove investors to the safety of the US currency. The greenback was weaker against the Japanese yen. There was plenty of news to make traders worried: surging Spanish yield, downgrade of outlook for Germany and some other country by Moody’s, bad PMI figures … “Dollar Reaches Two-Year High vs. Euro”
Euro Flounders on Germany, the Netherlands Credit Outlook
Euro is floundering today as concerns about what’s next continue to plague the 17-nation currency region. Once again, the 17-nation currency is below the 1.21 level against the US dollar, and it continues to drop against the UK pound. This time, some of the concern for the euro comes in the form of a downgrade to the credit outlook in Germany and in the Netherlands. Moody’s lowered its outlook for the two countries, recognizing that weaker countries in the eurozone would need … “Euro Flounders on Germany, the Netherlands Credit Outlook”
Pound Steady in Forex Trading
UK pound is steading in Forex trading today, moving in a more positive direction against the US dollar. After some losses to the greenback, due largely to risk aversion, pound is eking out some gains today. Pound is also steadying against the euro, after some solid gains. The markets have been volatile the last few days. A lot has been going on with Europe, China, and US earnings … “Pound Steady in Forex Trading”
GBP/USD: Trading the Preliminary British GDP July 2012
The British Preliminary Gross Domestic Product (GDP), published each quarter, measures the production and growth of the UK economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 8:30 … “GBP/USD: Trading the Preliminary British GDP July 2012”
Won Gains on China, Europe Remains Negative Factor
The South Korean won rose today, paring earlier losses, as positive data from China improved the market sentiment. News from Europe was not pretty, though, and the mood did not completely recover. The fundamental reports from China were good, easing fears about economic slowdown in the Asian nation. Europe, on the other hand, is not tired of providing bad news. Peripheral European economies are not the only … “Won Gains on China, Europe Remains Negative Factor”
NZ Dollar Rises on Positive Data from China
The New Zealand dollar advanced today, following two sessions of decline against the US dollar, as positive macroeconomic data from China boosted prospects for New Zealand exports. The Conference Board leading indicators rose 0.1 percent in June. The Flash HSBC Flash Manufacturing PMI went up from 48.2 in June to 49.5 in July, being near the neutral 50.0 level. China is the second-biggest trading partner of New Zealand. NZD/USD … “NZ Dollar Rises on Positive Data from China”
New Zealand Dollar – Things are Looking Better
The surprisingly strong growth of the economy in Q1 is a very positive change in the favor of the kiwi, even if the figure was released relatively late. The economy in this country is much more stable than currency movements show. NZD/USD has been a roller coaster pair during long periods. However, the economy has … “New Zealand Dollar – Things are Looking Better”
EUR/USD: Trading the German IFO Jul 2012
The German Ifo Business Climate is a monthly composite index of about 7,000 businesses, which are surveyed about current business conditions and their expectations concerning the performance of the German economy in the next six months. A reading which is higher than the market forecast is bullish for the euro. Here are all the details, and … “EUR/USD: Trading the German IFO Jul 2012”
Global Data Negative for Aussie, Can It Find Support from Domestic Fundamentals?
The Australian dollar fell today amid growing concerns that the global economy is faltering. Prospects for the Australian currency are not bad, though, as the domestic fundamentals should support the Aussie. Higher-yielding currencies were not in favor of traders today and the Australian dollar (often called “Aussie”) was not an exception. Europe is the main source of negativity on the Forex market, but China also added worries because of signs of economic slowdown. … “Global Data Negative for Aussie, Can It Find Support from Domestic Fundamentals?”