The Swiss franc dropped today even amid risk aversion on the Forex market and signs of economic revival in Switzerland. One might argue that the currency made a big move on Tuesday and now just stabilizes. Swiss employment demonstrated stable growth in the second quarter this year. The currency cap instituted by the Swiss National Bank attracted funds to Swiss companies. Yet the franc performed not as well as should under the circumstances. Perhaps, it … “Swiss Franc Weakens Despite Risk Aversion & Signs of Recovery”
Month: August 2013
UK Pound Gets Help from Mark Carney
UK pound is getting a little help today, thanks to BOE Governor Mark Carney’s comments yesterday. While the pound is struggling against the US dollar, it is higher against the euro and the yen today. Yesterday, making his first official policy statement as the Governor of the Bank of England, Mark Carney said that it wasn’t reasonable to expect that they could devalue into prosperity. This statement is … “UK Pound Gets Help from Mark Carney”
Euro Drops on Economic Data, Syria Worries
Euro is lower today, dropping as economic data weighs on the 17-nation currency, and as concerns over Syria increase risk aversion. Euro is heading lower almost across the board, with Greece being pressured to sell assets and uncertainty over the geopolitical situation. Concerns about the eurozone are on the rise again, thanks in part to the lackluster economic data. Even though there has been economic improvement in the eurozone, things aren’t improving … “Euro Drops on Economic Data, Syria Worries”
At last the US dollar is showing some strength
The US dollar seems to have turned the corner after its recent weakness as the FX market has finally realised that US economic fundamentals and purchasing power have not been in sync with the markets. Today’s rally against the Euro and Sterling have demonstrated that there could be further strength in the greenback on fundamental … “At last the US dollar is showing some strength”
USD/CAD: Price Could Extend Up To 1.0650 (Elliott Wave
On USDCAD we are tracking an impulsive price action from around 1.0280. This is still incomplete as we need five waves to the upside. In fact, during this week we have seen only a three wave set-back from the latest swing high which is a corrective structure, so we think that a larger uptrend will … “USD/CAD: Price Could Extend Up To 1.0650 (Elliott Wave”
Brazilian Real Advances as Central Bank Supports Currency
The Brazilian real advanced today as the nation’s central bank signaled about an intervention to help the weakening currency. The announcement managed to outweigh the negative market sentiment that was hurting currencies of emerging economies. The Banco Central do Brasil announced a $60 billion intervention program last week. The currency did not react immediately, but has rallied 3.8 percent since the announcement. Perhaps, traders just needed some time to digest … “Brazilian Real Advances as Central Bank Supports Currency”
Dollar Strong on Syria
The US dollar jumped against the euro yesterday and continued to rise today as the prospects for war in Syria continued to drive investors to safer currencies. The greenback halted the rally against the yen and was retreating versus the Great Britain pound. The situation in Syria continues to cause wide-spread risk aversion on markets. The Middle Eastern country used chemical weapons last week. The United States threatened to attack in response and it is expected that the NATO will also … “Dollar Strong on Syria”
UK Pound Mixed Ahead of Carney Speech
All eyes are on Mark Carney and the Bank of England today. The pound is mixed as Forex traders wait for his first official policy speech since becoming Governor of the BOE. There is concern about inflation, and what’s next for the pound, and many are waiting to see what direction the sterling is likely to go next. There has been a lot of interest in the pound lately. With signs of recovery in the UK economy, and with … “UK Pound Mixed Ahead of Carney Speech”
Euro Struggles After Lending Data Release
Euro is struggling today as uncertainty and the latest economic data weigh on the 17-nation currency region. Even though there have been some improvements in the last few weeks, concerns about what’s next are weighing on the euro. The latest data out of the eurozone shows that lending to the private sector contracted in July. The news indicates that there are still some difficulties in the 17- nation currency region when it comes … “Euro Struggles After Lending Data Release”
Fed tapering intentions muddy GBP/USD outlook
Bank of England governor Mark Carney has a problem. He wants to talk interest rates into staying at low levels, but is doing so against a backdrop of the US Federal Reserve quantitative easing tapering intentions. If he really is committed to this course of action it may mean having to take actions that will … “Fed tapering intentions muddy GBP/USD outlook”