With risk appetite fading, and following yesterday’s equity rout, Forex traders are looking for a little safety and stability today — especially since the eurozone continues to cause problems. This means that, while the UK pound is down against low beta currencies like the dollar and the yen, it is also gaining against the euro, since it is the European safe haven. Difficulties with Spain continue, and concerns about … “UK Pound Gains on European Safe Haven Status”
Month: September 2012
ICM Capital UK to Participate in Cityscape Global 2012
UK based forex broker ICM Capital will present and participate in the Cityscape, a 3 day event exhibition. This follows the participation of ICM at FX Championship and Expo. For more details, here is the official press release: London, 24th September 2012 – ICM Capital UK a leading provider of online foreign exchange and commodity trading … “ICM Capital UK to Participate in Cityscape Global 2012”
Euro Recovers from Earlier Lows to Move Higher
Euro is recovering today, and moving higher, after earlier lows against the US dollar. Concerns about the eurozone have melted away as risk appetite makes an appearance, and as the US dollar and other low beta currencies turn lower. Earlier, the euro touched a two-week low against the Japanese yen, and moved lower against the US dollar. Concerns about the latest economic news out of Germany weighed on the euro. The latest German consumer … “Euro Recovers from Earlier Lows to Move Higher”
Japanese Yen Weakens against European Currencies
After showing general strength earlier, the Japanese yen is now weakening against its European counterparts. Yen is still stronger against the US dollar, but against the euro and the United Kingdom pound, the Japanese yen is lower. Japanese yen is weakening right now, following comments by outgoing finance minister Jun Azumi. Azumi is leaving the Ministry of Finance in Japan, but he was very clear … “Japanese Yen Weakens against European Currencies”
US Dollar Gains as Global Economic Fears Return to Focus
US dollar is gaining ground as Forex traders look for safe haven amidst concerns about what’s next. Lackluster data from China and from the United States itself has many concerned about what could be coming for the global economy. The result is that Forex traders are looking for a little more safety right now, and the greenback is benefitting. Fears about the rate of global economic growth are … “US Dollar Gains as Global Economic Fears Return to Focus”
Aussie Drops as Gold Prices and Other Commodities Fall
Aussie is dropping today as risk appetite fades away, and as commodity prices fall. After seeing some strength for a while, the Australian dollar is finally dropping, to the relief of some policymakers Down Under. With global economic growth fears once again coming into focus, the Aussie is heading lower today, especially against the US dollar. Once again, China and the United States are reporting lackluster economic numbers, … “Aussie Drops as Gold Prices and Other Commodities Fall”
USD/JPY: Trading the US Conference Board Consumer September 2012
The Conference Board Consumer Confidence Index is based on a monthly survey of about 5,000 households regarding their opinion of the economy. Its release can affect the direction of USD/JPY. A higher reading than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Tuesday at 14:00 … “USD/JPY: Trading the US Conference Board Consumer September 2012”
Euro Gets Boost on Expectations for Spain
Euro is getting a bit of a boost today, heading higher as optimism about Spain becomes the focus today. Also helping matters for the euro against the US dollar is the continued strength of gold, thanks to its use as an inflation hedge. Spain is expected to reveal a fiscal reform plan next week. The hope is that a reform plan indicates that the embattled country is ready to ask the European Central Bank for a bailout. … “Euro Gets Boost on Expectations for Spain”
Canadian Dollar Inches Higher against US Dollar
Canadian dollar is moving a little higher right now, thanks to an appearance by risk appetite. Loonie had been dropping earlier this week on concerns about global economic growth, but now there is a little more optimism, thanks to the latest news out of Spain. Instead of fixating on global economic issues, investors and Forex traders are now turning their attention toward the possible good news coming out … “Canadian Dollar Inches Higher against US Dollar”
US Dollar Stronger on Global Economic Fears
US dollar is heading higher today, strengthening as Forex traders demand safe haven currencies. Economic data out of the eurozone and out of China are weighing on riskier assets today, and the greenback is getting a boost. Dollar weakness caused by the recent quantitative easing announcement from the Federal Reserve is being replaced by strength as concerns about global economic slowdown are coming to the forefront of Forex trader concerns. The latest PMI … “US Dollar Stronger on Global Economic Fears”