Earlier, fears about the United States going over a fiscal cliff sent the Canadian dollar lower. However, hopes are once again on the rise for an agreement to avoid the fiscal cliff, and that is helping the loonie regain some of its lost ground. Concerns about the effect of the US fiscal cliff have done a great deal to put a damper on risk appetite lately, and that has included weighing on the Canadian dollar as Forex traders … “Loonie Pares Losses on New Fiscal Cliff Hopes”
Month: November 2012
Euro Heads Higher on Italian Yields, US Fiscal Cliff
Once again, optimism is creeping back into the markets, and Forex traders are feeling a little better about what might be coming. Euro is heading higher as risk appetite returns on better news and improved expectations. In the eurozone, even though there is a recession happening, there are hopes for recovery. The recent Greek debt deal is providing hope that other heavily indebted countries in the region will … “Euro Heads Higher on Italian Yields, US Fiscal Cliff”
Swedish Krona Rises with Growing GDP
The Swedish krona gained today amid the positive sentiment among Forex traders and after the data showed that the nation’s economy expanded in the third quarter of this year, increasing appeal of the Swedish currency. Swedish gross domestic product expanded with the seasonally adjusted rate of 0.5 percent in Q3 2012. The analysts’ expectations were 0.2 percent. The Forex market remains in the risk-positive mode on hopes that the US politicians will manage to find … “Swedish Krona Rises with Growing GDP”
EUR/CHF Advances as Jordan Says Franc Still Too Strong
The Swiss franc dropped against the euro today as Thomas Jordan, the President of the Swiss National Bank, said that the currency is still too strong. The Swissie advanced versus the US dollar. Jordan said yesterday during his speech on SNB monetary and investment policy in Berne: The franc at its current level still has a high value,â Jordan said in Bern late yesterday. âThis burdens a lot of companies — especially in a phase … “EUR/CHF Advances as Jordan Says Franc Still Too Strong”
Dollar Weak amid Hopes for Avoiding Fiscal Cliff
The US dollar erased its yesterday’s gains and remained soft today on hopes that the US politicians will make progress in talks about ways to avoid the fiscal cliff. The dollar was stronger versus the Japanese yen. Traders were worrying about lack of progress in talks about the fiscal cliff, but now they changed their stance and look into the future with some optimism. Today’s GDP figure is expected to support … “Dollar Weak amid Hopes for Avoiding Fiscal Cliff”
EUR/USD:Trading the US Preliminary GDP
US Preliminary 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. Thus, an unexpected reading for US GDP could affect the movement of EUR/USD. A reading which is better than the market forecast is bullish for the dollar. Here are … “EUR/USD:Trading the US Preliminary GDP”
South Korean Won Soft amid Poor Market Sentiment
The South Korean won declined today as the risk aversion on the Forex market deterred traders from higher-yielding assets of emerging economies, including the South Korean ones. The market sentiment was hurt by the comments of Senate Majority Leader Harry Reid about lack of progress in the talks about avoiding fiscal cliff. Europe’s problems also remain a negative factor even after Greece managed to convince the European Union to ease terms of the rescue package. … “South Korean Won Soft amid Poor Market Sentiment”
Traders Turn Attention to USA, Yen Profits
Now, as the situation with Greece is resolved (at least for some time), Forex traders turned their attention to the United States and the danger of the fiscal cliff. The Japanese yen profited from the resulting fears. Harry Reid, the Senate Majority Leader, complained about the progress in the talks about ways to avoid the fiscal cliff (or rather lack of progress thereof). Markets did not take the comments well. The Stoxx Europe 600 Index of shares dropped … “Traders Turn Attention to USA, Yen Profits”
EUR/USD: Long Term Downtrend Resistance Remains Very Relevant –
EUR/USD got close to the long term downtrend resistance after the Greek deal was announced, but as the details remained unconvincing, the pair retreated. However, it didn’t retreat too far, making this line very relevant. In the next possible encounter, will it continue falling or break down once again? EUR USD Long Term Donwtrend Resistance … “EUR/USD: Long Term Downtrend Resistance Remains Very Relevant –”
AUD Drops vs. USD & JPY, Gains vs. EUR
The Australian dollar fell against the Japanese yen and the US dollar yesterday and remained soft today. Like its Canadian counterpart, the Aussie managed to strengthen versus the euro. The agreement to provide aid for Greece did not help the market sentiment. In fact, that agreement may fail as the International Monetary Fund did not accept its terms. The inability of the US politicians to find a compromise and avoid the fiscal cliff did not help traders’ … “AUD Drops vs. USD & JPY, Gains vs. EUR”