The euro retreated today as Moody’s Investor Service downgraded credit ratings of several Spanish regions. The news added to tensions caused by uncertainty about the bailout for the indebted nation. Moody’s cut the ratings assigned to five Spanish regions (Andalucia, Extremadura, Castilla-La Mancha, Catalunya, and Murcia) by one or two notches. The rating agency explained its decision by “the deterioration in their liquidity positions, as evidenced by their very limited cash reserves as of September 2012 and their … “Euro Falls as Moody’s Cuts Spanish Regions”
Month: October 2012
Risk Aversion Boosts US Dollar as Stocks Drop
Earlier, risk appetite was helping high beta currencies in Forex trading. Now, though, risk aversion has appeared and that is sending the US dollar higher as traders look for safe haven. Risk aversion is returning to the currency market, thanks in large part to disappointing earnings in the United States. DuPont and RadioShack are among the companies that missed targets, and there are concerns about other companies right now. … “Risk Aversion Boosts US Dollar as Stocks Drop”
Yen Rebounds Even Amid Intervention Speculations
The Japanese yen rebounded today even as investors continued to bet on an intervention from the Bank of Japan. Earlier, the currency reached the lowest level since July against the US dollar and the lowest since May versus the euro. Some economists claim that the BoJ may intervene as soon as the next policy meeting. Supporting such speculations, Japanâs Economy Minister Seiji Maehara said that he may join the meeting and attempt to convince the policy … “Yen Rebounds Even Amid Intervention Speculations”
USD/JPY: Trading the US New Home Sales Oct 2012
The US New Home Sales indicator is released monthly, and provides analysts with a snapshot of the health and direction of the housing sector. 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 Wednesday at 14:00 GMT. Indicator Background The New Home … “USD/JPY: Trading the US New Home Sales Oct 2012”
TRADE – New CFD Platform by Forex.com
Gain Capital launched a new platform for CFDs. The system offers permanently fixed spreads and access to hundreds of forex pairs, commodities and more. Gain Capital is publicly traded and recently announced an enhanced MetaTrader 4 offering. More details about the CFD platform is available in the official press release below: LONDON, NEW YORK, HONG … “TRADE – New CFD Platform by Forex.com”
Pound Gains as Number of Business Insolvencies Decline
The Great Britain rose against the US dollar yesterday and continued to gain today as the number of UK business insolvencies fell last month. The sterling was also higher against the Japanese yen, but dropped versus the euro. Experian Plc reported that the number of business insolvencies dropped 3.1 percent in September from a year ago to 1,679 companies. Max Firth, the managing director at Experian Business Information Services, commented: Overall insolvency … “Pound Gains as Number of Business Insolvencies Decline”
Aussie Posts Mixed Results Ahead of Inflation Data
The Australian dollar was little changed against its US counterpart today, fell against the euro and climbed versus the Japanese yen. Economists are worried that tomorrow’s report will show Australia’s inflation sliding to the slowest growth in 13 years. Analysts predict that the Australian Consumer Price Index will be at 2.2 percent on an annual basis. That would be near 2.0 percent of the previous quarter, which was … “Aussie Posts Mixed Results Ahead of Inflation Data”
Euro Rallies as Rajoy’s Party Wins Elections in Galicia
The euro move higher today after Prime Minister Mariano Rajoyâs Peopleâs Party won the regional elections in Rajoy’s home region yesterday. The currency still remains in danger amid uncertainty about the Spanish bailout. Rajoy’s People’s Party won the elections in Galicia. That was considered as a vote of confidence in the Prime Minister’s austerity program. In the Basque Country, the Basque Nationalist Party won the majority, followed by Bildu, which is also a nationalist … “Euro Rallies as Rajoy’s Party Wins Elections in Galicia”
Loonie Struggles against other Majors
Canadian dollar is struggling a bit today, heading lower against other major currencies. Loonie is struggling a bit on uncertainty about what the Bank of Canada will decide, as well as being affected by slipping oil prices. Uncertainty about what’s next for the Bank of Canada is weighing on the loonie a little bit today. Many expect the central bank to hold rates stead at 1 per cent. However, many Forex traders … “Loonie Struggles against other Majors”
US Dollar Eases on Optimism and Increased Risk Appetite
The US dollar is easing today, losing a little ground as optimism about the eurozone returens to the currency market. Risk appetite is on the rise again, and high beta currencies are getting a bit of a boost as the US dollar loses ground. A lot of the optimism is coming in the form of reduced concerns about the eurozone. Once again, there are expectations for a Spanish bailout. Regional elections in Spain have many thinking that the political climate … “US Dollar Eases on Optimism and Increased Risk Appetite”