The Chilean pesos declined today as problems of various countries of the European Union left Forex traders unwilling to risk, driving them to currencies that offer higher safety. The last month’s election in Italy created a political deadlock and the country will have a hard time to deal with its problems without a strong government. Cyprus’s banks will be opened tomorrow and there is fear that depositors will try to withdraw their … “Europe’s Woes Make Chilean Peso Less Attractive”
Month: March 2013
Brazilian Real Rises, Erases Gains Later
The Brazilian real fell today for seventh session, erasing the previous gains, even amid signs that the central bank is ready to intervene, preventing the currency’s losses. The real rallied initially after the Central Bank of Brazil offered foreign-exchange swaps to rein the currencyâs drop. The rally did not hold for long and the real retreated as of now. Deputy Finance Minister Nelson Barbosa said yesterday that there is no concern for inflation, … “Brazilian Real Rises, Erases Gains Later”
Euro Erases Gains, Dropping to a Four-Month Low
Euro is dropping rapidly against most of its major counterparts. With the uncertainty over Cyprus, and with Italy once again with its back to the wall, trouble is looming for the 17-nation currency. The risk of capital flight is weighing on the euro today, and the 17-nation currency is heading to four-month lows against the US dollar as a result. While the euro attempted a rally earlier, that is all but gone now. Concerns … “Euro Erases Gains, Dropping to a Four-Month Low”
Canadian Dollar Surges against European Currencies
Canadian dollar is surging against its European counterparts today, heading higher as the latest news on the economy helps the loonie. However, the Canadian dollar has fallen against the US dollar as uncertainty returns to the markets. Once again, it’s a time of confusion for Forex traders. Earlier, the Canadian dollar struggled, but the latest news from Statistics Canada, showing that consumer prices rose 1.2 per cent in February, is helping … “Canadian Dollar Surges against European Currencies”
EUR/USD: Trading the US Unemployment Claims Mar 2013
US Unemployment Claims indicator is released weekly, and measures the number of people filing for unemployment for the first time. It is considered an important measure of the health and direction of the economy. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 … “EUR/USD: Trading the US Unemployment Claims Mar 2013”
NZ Dollar Lifted by Bigger-Than-Expected Trade Surplus
The New Zealand dollar jumped today after the nation’s trade balance posted a surplus that was much bigger than expected. The general positive market sentiment also helped the currency. The New Zealand trade balance demonstrated a surplus of NZ$414 million in February after posting a deficit of NZ$287 million in January. The expected surplus was just NZ$2 million. The positive data does not eliminate the possibility of an interest rate cut by the Reserve … “NZ Dollar Lifted by Bigger-Than-Expected Trade Surplus”
Euro Recovers After Losses, Attempts to Rally
The euro was falling today, but currently has recovered losses and it looks like the currency may yet even rally. Forex traders are digesting news regarding Cyprus and are trying to guess where the euro will go next. As was predicted, it is hard for traders to follow moves of the shared European currency. The euro looked weak at the beginning of the trading session and it seemed the currency will extend its … “Euro Recovers After Losses, Attempts to Rally”
USD/JPY: Trading the US Pending Home Sales Mar 2013
US Pending Home Sales is released monthly, and provides analysts with a snapshot of the health and direction of the US housing sector. A higher reading than the 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 US Pending Homes … “USD/JPY: Trading the US Pending Home Sales Mar 2013”
Japanese Yen Mostly Weaker on Expected Stimulus Measures
Japanese yen is mostly lower today, dropping on expectations that aggressive easing will keep the Asian currency lower against its major counterparts. The Bank of Japan, with its new head Haruhiko Kuroda, is setting a bold target to beat deflation, no matter the cost. Kuroda’s sentiments are just what recently-elected Prime Minister Shinzo Abe wants to hear. The assumption is that more stimulus, thanks … “Japanese Yen Mostly Weaker on Expected Stimulus Measures”
US Durable Goods Orders Help Mexican Peso, Currency Loses Gains Later
The Mexican peso advanced today as US durable goods orders grew in February faster than was expected, improving prospects for Mexican exports. The currency lost its gains as of now as the Forex market remains in the risk-off mode still. Durable goods orders expanded 5.7 percent in February. The actual increase beat the consensus forecast of 3.9 percent. The data was very favorable to the peso as about 80 percent of Mexican exports go to the United … “US Durable Goods Orders Help Mexican Peso, Currency Loses Gains Later”