Canadian dollar is looking to regain some ground, but some of the gains against major counterparts may not last. Loonie is struggling a bit, thanks to “valuation fatigue”, and that could mean a lower Canadian dollar in the near term. According to Societe Generale, the Canadian dollar is likely experiencing “valuation fatigue”, and that is weighing on the currency to some degree. While this state of affairs might weigh on the loonie in the near … “Canadian Dollar Looks to Regain Some Ground”
Month: February 2013
Polish Zloty Drops on Concerns About Slowing Inflation
The Polish zloty went down today on speculations that a report this week may show that inflation slowed last month for the fourth consecutive month, giving the central bank incentive to lower interest rates. Analysts estimated that inflation declined from 2.4 percent in December to 2 percent in January, the lowest level since August 2010. The National Bank of Poland may cut interest rates yet again after it … “Polish Zloty Drops on Concerns About Slowing Inflation”
Euro Gains After Currency War Pledge
Euro gained earlier, following a pledge from G-7 nations to avoid a currency war. Euro is still higher against the US dollar right now, although it is paring some of its earlier gains. Concerns about a global currency war have been high recently, and worries that a race to the bottom would ensue have had some Forex traders on edge. In an attempt to allay those fears, G-7 countries … “Euro Gains After Currency War Pledge”
North Korean Nuclear Test Spurs Risk Aversion, Rand Suffers
The South African rand dropped today after the North Korean nuclear weapon test increased geopolitical tension, making investors seek safety and avoid riskier assets. North Korean performed an underground test of nuclear weapon, defying the United Nations. The Korean Central News Agency said that the test was successful. The resulting worries hurt the risk sentiment, and the assets associated with risk suffered as it often happens when political problems … “North Korean Nuclear Test Spurs Risk Aversion, Rand Suffers”
USDJPY Could Reach 95.00 (Elliott Wave)
JPY was pushed lower again while Japanese shares soared after a Bank of Japan member said that more monetary easing could be justified later this year. USD JPY Elliott Wave Technical Analysis – Click image to enlarge USDJPY reached levels around 94.40 but we see an incomplete impulse from 92.15 swing low which means that … “USDJPY Could Reach 95.00 (Elliott Wave)”
USD/JPY: Trading the US Retail Sales
US Retail Sales is considered one of the most important consumer indicators. It provides analysts and traders with a snapshot of consumer spending. A reading that is higher than the market forecast is bullish for the US dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at 13:30 GMT. Indicator Background Consumer … “USD/JPY: Trading the US Retail Sales”
Europe: Financial markets winning over real economy – for
The surge of the euro during January was mostly driven by optimism about the debt crisis: there is a general notion that the worst is behind us. Bond yields of Spain and Italy fell and the need for a bailout including the “Men in Black” has eased as well. Mario Draghi is seen as the … “Europe: Financial markets winning over real economy – for”
Yen Continues Downfall
The Japanese yen posted the biggest drop in more than two weeks yesterday and retained the drop today as comments of various politicians suggested that the currency will be allowed to fall further. Haruhiko Kuroda, a potential contender for the Bank of Japan governor, said that an accommodative monetary policy can be justified for 2013. The statement followed the comments of Japanese Finance Minister Taro Aso, who said that the currency had fallen too … “Yen Continues Downfall”
UK Pound Drops on Economic Concerns
UK pound is heading lower again, dropping as economic concerns once again dominate the situation. Worries about what’s next for the British economy are weighing on the sterling, sending it lower across the board. Last week, the Bank of England indicated that the economic recovery in the United Kingdom would be slow, and that there wasn’t much to be expected in the near term. However, many are looking forward toward the quarterly … “UK Pound Drops on Economic Concerns”
US Dollar Mixed as Traders Consider Recent Information
US dollar is mixed today as Forex traders consider recent information, and try to come to decisions about what is likely next for the world’s currencies. There is a lot going on right now, and a lot of remarks from various world leaders to consider. Greenback is mixed right now, thanks in large part to an interest in sifting through the information that has recently been released on a number of fronts. Last week, remarks … “US Dollar Mixed as Traders Consider Recent Information”