The Canadian dollar failed to maintain its rally versus the US dollar and shed yesterday’s gains as fear returned to the Forex market. At the same time, the loonie jumped against the euro and drifted sideways versus the Japanese yen. Most currencies lost their gains after yesterday’s rally as quick as they have gotten them. Yes, it looks like one problem of the United States was resolved, but there remain many more … “CAD Loses Ground to USD, Beats EUR”
Month: January 2013
Euro Loses Ground on Risk Aversion
Euro is heading lower today, losing ground as risk aversion returns to the Forex market. Concerns about the next big budget battle in the United States are already surfacing, and that is weighing on risk appetite, and sending the euro lower. In the eurozone, concerns about recession are still lingering in the background. And, thanks to renewed concerns about the future, German Bunds have steadied after a recent sell-off. The news indicates a move … “Euro Loses Ground on Risk Aversion”
US Dollar Gains Ground as Uncertainty Returns
The euphoria is ended and now the uncertainty has set in. Concerns about the next big budget battle are weighing on risk appetite in the Forex market, and the US dollar is gaining as a result. Greenback is higher against high beta currencies like the euro and the pound today, gaining ground as concerns about what’s next in the budgetary battle over the fiscal cliff and the debt ceiling take center stage. Only the tax situation … “US Dollar Gains Ground as Uncertainty Returns”
Rand Retreats as Euphoria Quickly Wears Off
The South African rand retreated today on speculations that US politicians will not be able to raise the debt ceiling and as such concerns deterred investors from buying riskier assets. Amid all the euphoria on the Forex market yesterday, it was hard to believe that the decline of some currencies at the beginning of today’s session was anything but a small correction. Yet now it looks like optimism was short-lived and as one … “Rand Retreats as Euphoria Quickly Wears Off”
Pound Sinks as UK Housing Sector in Trouble
The Great Britain pound slumped today as the fundamental data suggested that Britain’s housing sector is struggling, leading to fears that economy recovery in the United Kingdom may stall. The House Price Index of Nationwide Building Society fell 0.1 percent in December, following no change in the prior month. Analysts have expected a 0.1% percent increase. Moreover, the Markit/CIPS construction Purchasing Managers’ Index fell from 49.3 in November to 48.7 … “Pound Sinks as UK Housing Sector in Trouble”
5 Most Predictable Currency Pairs – Q1 2013
Not all currency pairs behave in the same manner: the better ones will slow down when approaching a clear line of support or resistance and will then bounce back. With enough momentum, the pair will break the line and never look back. These pairs are the more predictable ones. However, not all of them tend … “5 Most Predictable Currency Pairs – Q1 2013”
AUD Falls a Little vs. USD & JPY, Extends Rally vs. EUR
The Australian dollar turned down a bit against the US dollar and the Japanese yen today. It is not surprising considering how huge yesterday’s rally was. The Aussie continued its rise versus the euro. Commodity currencies were rallying yesterday as US politicians compiled a bill that will prevent an automatic tax hikes and spending reductions that could push the US economy into a recession. The Standard & Poorâs GSCI … “AUD Falls a Little vs. USD & JPY, Extends Rally vs. EUR”
CAD Surges as Euphoria Kicks In
The Canadian dollar exploded to the upside today amid euphoria that struck the Forex market after US politicians reached an agreement that will help to avoid a financial crisis in the United States. Vice President Joe Biden and Senate Minority Leader Mitch McConnell devised a deal that will avert the $600 billion spending cuts and tax increases. After a long time of uncertainty and fear, markets celebrated the news. Crude oil, the major … “CAD Surges as Euphoria Kicks In”
Improved UK Data Boosts Pound against the Dollar
UK pound is making a fairly strong showing today, particularly against the US dollar, as better than expected economic data helps the sterling. The latest UK manufacturing PMI data shows an improvement to 51.4. This beats any forecast, and is providing the basis for a bit of a rally for the pound against the US dollar. Also helping the sterling on the Forex market is the fact that risk appetite has made an appearance. Half of a fiscal … “Improved UK Data Boosts Pound against the Dollar”
Relief Over Fiscal Cliff Outweighs Disappointing Eurozone Data
Euro is higher today, gaining as risk appetite returns to the market and prompts a preference for high beta currencies. Even though the eurozone economy seems to be shrinking, all of the focus is on the relief over a fiscal cliff deal in the United States. The latest manufacturing data out of the eurozone indicates that contraction is still an issue. Markit points out that the manufacturing purchasing managers index moved down to 46.1 in December from … “Relief Over Fiscal Cliff Outweighs Disappointing Eurozone Data”