Sentiment has improved a bit today, following last week’s risk aversion. The result is that the Canadian dollar is getting a bit of a boost against its major counterparts. Part of the reason for the risk appetite is that there hasn’t been any substantial response to the results of the referendum held in Crimea over the weekend. For now, risk appetite is the story to start the week. Even though Crimea has declared independence from … “Canadian Dollar Gets Boost from Risk Appetite”
Month: March 2014
Japanese Yen Heads Lower Today
Japanese yen is lower right now, dropping against its major counterparts as news from the weekend is processed. Even though risk aversion is the general rule for now, the yen is heading lower. It’s been an interesting weekend around the world. In Crimea, the word is that the people voted to leave Ukraine and join the Russian Federation. Some are skeptical of the news reports, since many of them come from … “Japanese Yen Heads Lower Today”
EUR/USD: Trading The German ZEW Mar 2014
The German ZEW Economic Sentiment Index is based on a monthly survey of institutional investors and analysts and their views of the German economy. A reading that is higher than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 10:00 GMT. … “EUR/USD: Trading The German ZEW Mar 2014”
RBNZ Makes Week Stellar for New Zealand Dollar
The past week was very friendly to the New Zealand dollar as the nation’s central bank performed the long-awaited interest rate hike, making it clear that the New Zealand economy experiences strong growth and increasing the attractiveness of the currency to investors, particularly to carry traders who profit from difference of interest rates in various countries. The New Zealand currency started the week on a strong footing despite some negative fundamentals as traders were hoping … “RBNZ Makes Week Stellar for New Zealand Dollar”
EUR Gains vs. USD & GBP, Unable to Beat JPY
The euro ended today’s trading session with gains against the US dollar as European macroeconomic data was good in contrast to US reports that were disappointing. The currency also gained on the Great Britain pound but was unable to outperform the Japanese yen. The German Consumer Price index rose 0.5 percent in February according to the final estimate, unchanged from the preliminary projection. Employment in both eurozone and the European Union rose 0.1 … “EUR Gains vs. USD & GBP, Unable to Beat JPY”
US Data Makes Dollar Weaker
The US dollar slid as today’s macroeconomic reports from the United States were disappointing, leading to doubts if the Federal Reserve continues quantitative easing tapering or pauses stimulus trimming until economic growth becomes more stable. The University of Michigan consumer confidence index unexpectedly dropped from 81.6 to 79.9 this month. Analysts have hoped for a small increase. The Producer Price Index fell 0.1 percent in February instead of rising … “US Data Makes Dollar Weaker”
Account Deficit, Market Worries Weigh on UK Pound
UK pound is lower today, thanks in large part to its account deficit and to market worries surrounding the events unfolding in Crimea. With stocks plunging and concerns about what’s next causing uncertainty, combined with issues in the United Kingdom, the pound isn’t on very stable ground. Sterling is lower today, dropping against most of its major counterparts. Risk appetite is hard to find today as stock markets around … “Account Deficit, Market Worries Weigh on UK Pound”
FxPro wins “Best FX Services Provider” award
Forex Broker FxPro won the Best FX Services Provider award at the City of London Wealth Management Awards. A record number of public votes were cast online. FxPro recently won the National Public Champion for Cyprus at the European Business Awards. For more details, here is the official press release: 14 March 2014, London. FxPro Group Ltd (FxPro) … “FxPro wins “Best FX Services Provider” award”
Goldman Sachs Forecasts Decline of Aussie
The Australian dollar trimmed yesterday’s gains versus the US dollar and reversed the rally versus the Japanese yen today as the negative market sentiment hurt growth-related currencies, while the Goldman Sachs forecast added to the woes of the Aussie. The market sentiment was poor amid concerns about Chinese growth slowdown and concerns about the situation in Ukraine, making traders favor safe currencies, not riskier ones. Goldman Sachs said: Our bearish Australian … “Goldman Sachs Forecasts Decline of Aussie”
Canadian Dollar Faces Difficulties Ahead of Crimea Referendum
Markets in general are struggling today, thanks largely to concerns over the referendum vote in Crimea on Sunday. Additionally, it’s not helping that there are worries about Chinese growth and other issues weighing on risk appetite today. Plus, there are questions about an independent Quebec to consider. Even though oil prices are higher on the day, the Canadian dollar is struggling against some of its major counterparts, particularly … “Canadian Dollar Faces Difficulties Ahead of Crimea Referendum”