The Swiss franc dropped against the US dollar today and slumped versus the euro for the fifth consecutive trading session on speculations that Switzerland’s central bank may implement negative interest rates. The Swiss National Bank has introduced a cap on the euro-franc exchange rate last year and economists were speculating since then if the central bank is going to take additional drastic measures to support Switzerland’s economy. Credit Suisse announced … “Swiss Franc Drops on Speculations About Negative Interest Rates”
Month: December 2012
December 2012 Monthly Outlook Available
The Forex monthly outlook for December 2012 is available for subscribers of the Forex Crunch newsletter. For the second time, it is available both on the site and in PDF format.. To download it for free, just join the mailing list below. Welcome to December monthly report from Forex Crunch. November was a relatively busy month that … “December 2012 Monthly Outlook Available”
CAD Gains as BoC Leaves Rates Stable, Downside Pressure Remains
The Canadian dollar gained versus its US counterpart and trimmed the losses against the euro and the Japanese yen today after the Bank of Canada left its target overnight rate stable and continued to speak about future interest rate hikes. The BoC kept its main interest rate at 1 percent at today’s policy meeting. Such decision was expected by market participants. The central bank noted in the accompanying statement that “over time, … “CAD Gains as BoC Leaves Rates Stable, Downside Pressure Remains”
Protected: Forex Outlook December 2012 – Web Version
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Sterling Weak amid Poor Fundamentals & Lack of Safety Demand
The Great Britain pound erased its earlier gains versus the US dollar and fell against the euro and the Japanese yen today on poor fundamental data and lack of demand for the safety of the currency. Earlier, the sterling reached a monthly high against the greenback. The construction Purchasing Managers’ Index fell from 50.9 in October to 49.3 in November (adjusted for seasonal factors), indicating decline of the sector. Analysts have though that the index would stay little changed … “Sterling Weak amid Poor Fundamentals & Lack of Safety Demand”
Canadian Dollar Rises on Interest Rate Speculation
Canadian dollar is getting a boost today, rising as Forex traders await the next interest rate announcement from the Bank of Canada. The Bank of Canada is expected to leave its key benchmark at one per cent, and there isn’t expected to be any big news about future intentions for the rate. Indeed, some think that there won’t be any change in Canadian rate for at least another 12 months. This … “Canadian Dollar Rises on Interest Rate Speculation”
US Dollar Heads Lower on Returning Risk Appetite
Forex traders and investors are seeking alpha right now, and that means that the US dollar is headed lower. With risk appetite making an appearance, high beta currencies are preferred to the greenback right now. There is an interesting state of affairs right now, with emerging markets getting a boost. As China shows signs of accelerating its own market success along with other emerging markets, the US … “US Dollar Heads Lower on Returning Risk Appetite”
USD/JPY: Trading the US ISM Non-Manufacturing PMI
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers, excluding the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 … “USD/JPY: Trading the US ISM Non-Manufacturing PMI”
Euro Strong vs. Dollar, Weak vs. Yen
The euro climbed against the US dollar today on optimism for the Greek bond-buyback program and the macroeconomic data, which was better than expected. At the same time, the shared 17-nation currency fell versus the Japanese yen. The Greek Public Debt Management Agency said that it is going to spend â¬10 billion at the modified Dutch auction to buy back the government debt. The eurozone Producer Price Index was up 0.1 percent in October … “Euro Strong vs. Dollar, Weak vs. Yen”
AUD/USD & AUD/JPY Jump After RBA Cuts Rates
The Australian dollar jumped against its US peer and the Japanese yen today after the Reserve Bank of Australia decided to cut its main cash rate to boost economic growth. The RBA slashed its key interest rate by 25 basis points to 3 percent today. The Governor Glenn Stevens commented about the decision in the statement: This will help to foster sustainable growth in demand and inflation outcomes consistent with the target over … “AUD/USD & AUD/JPY Jump After RBA Cuts Rates”