The Canadian dollar touched 13-month high against its US counterpart today as Forex traders hoped that the Federal Reserve will start the third round of asset purchase program, known as quantitative easing. Overall, the currency was flat today. The Fed will start the two-day policy meeting tomorrow. The central bank will announce its decision on September 13. Investors increased their bets on stimulus from the Fed after poor … “CAD Touches 13-Month High vs. USD”
Month: September 2012
Zloty Gains as Investors Show Interest in Polish Assets
The Polish zloty strengthened today after JPMorgan Chase & Co. changed its view on the currency and as yesterday’s debt auction ended with a good result, showing that investors are interest in nation’s assets. The yield on the Polish bonds maturing in 2023 reached the record low of 3.175 percent. Investors bought as much as $2 billion of securities on yesterday’s bond auction. JPMorgan improved its view on the zloty from underweight to neutral. USD/PLN … “Zloty Gains as Investors Show Interest in Polish Assets”
GDP/USD: Trading the British Claimant Count Change September 2012
The UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. Along with the Unemployment Rate indicator, which is released at the same time, it provides a snapshot of the UK employment situation and could affect the direction of GDP/USD. Here are the details and 5 possible outcomes for GBP/USD. Published on … “GDP/USD: Trading the British Claimant Count Change September 2012”
Improving UK Trade Balance & House Prices Make Sterling More Appealing
The Great Britain pound jumped against the US dollar, reaching the highest level in 4 months, today after macroeconomic reports showed that trade balance and house prices improved, easing fears about the stagnating UK economy. The Office for National Statistics reported that the trade balance deficit shrank from £10.1 billion in June to £7.1 billion in July. The house price balance was at -19 in August, according to the Royal Institution of Chartered … “Improving UK Trade Balance & House Prices Make Sterling More Appealing”
US Dollar Down on Prospect of More Easing
US dollar is losing ground today, especially against the euro, as Forex traders expect more easing from the Federal Reserve. The situation in the United States is one of uncertainty, and that is weighing on the US dollar, and providing the euro with the upper hand. Greenback is down again as Forex traders await the Fed announcement tomorrow. Many expect that Ben Bernanke will announce some more easing for the US dollar, … “US Dollar Down on Prospect of More Easing”
Euro Surges on Expectations that Germany’s High Court will Back the ESM
Euro is heading higher today, gaining dramatically as Forex traders expect Germany’s high court to back the European Stability Mechanism, which is also referred to as the eurozone’s bailout fund. The German court is expected to hand down a ruling on whether or not the ESM is compatible with the German constitution, and there is speculation that the answer will be favorable to the bailout fund. As a result, many are expecting further support … “Euro Surges on Expectations that Germany’s High Court will Back the ESM”
Spain – Darkest Before Dawn?
Spain’s toxic mix is bubbling and may overspill in September. The euro-zone’s fourth largest economy is feeling the heat from all directions: banks, regions, bond markets and also rating agencies. Is it just darkest before dawn? Spain took its time (one month and counting) with asking for aid from its peers – a move that … “Spain – Darkest Before Dawn?”
NZ Dollar Reduces Losses Ahead of Fed Meeting
The New Zealand dollar gained against its US peer and stayed flat versus the Japanese yen today, following yesterday’s losses. It looked like optimism about the coming policy meeting of the Federal Reserve outweighed the negative news from Europe and China. China’s falling imports hurt prospects for New Zealand assets as the China is the second-biggest trading partner of New Zealand. Additionally, the decline of imports is negative for Australia — … “NZ Dollar Reduces Losses Ahead of Fed Meeting”
Loonie Gains on Bank of Canada Expectations
The Canadian dollar got a bit of a boost earlier today, gaining after remarks made by the governor of the Bank of Canada. Divergence between central banks is leading to gains for the loonie. Bank of Canada Governor Mark Carney mentioned last week that there is a possibility that rates will have to go up in Canada. The economy has been showing signs of better than expected growth recently, and Carney thinks that perhaps … “Loonie Gains on Bank of Canada Expectations”
US Dollar Edges Higher as Uncertainty Creeps Into the Picture
US dollar is edging higher today, gaining as uncertainty creeps into the picture. Many Forex traders are selling the euro and taking a wait and see approach as the week features a decision on the European Stability Mechanism from Germany’s high court, and a meeting of the Federal Reserve’s Federal Open Market Committee. There is a great deal of uncertainty right now over what will be next for the eurozone. Germany’s Bundesgerichtshof will be … “US Dollar Edges Higher as Uncertainty Creeps Into the Picture”