The euro’s advance initiated by hopes that the EU would help Greece to end its fiscal crisis ended today after speculations that the topic will not be brought in the bloc’s summit tomorrow, declining confidence among traders that the Greek budget deficit’s pessimistic scenario is close to an end. A German official announced that solutions for Greece’s growing budget deficit will not be proposed tomorrow, even if … “Greek Tragedy Pulls Euro Down Again”
Author: admin_mm
Yen Declines on EU-Greece Rescue Plan
The yen was the most affected currency by a new wave of optimism started by EU officials statements suggesting that the bloc will help Greece financially to solve its public debt issues, losing specially versus higher-yielding currencies and the euro. The Japanese currency started this Wednesday continuing its losing trend initiated yesterday by renewed optimism that Greece fiscal crisis will end sooner than expected as the European Union signaled … “Yen Declines on EU-Greece Rescue Plan”
South Korean Won Rises on EU-Greece Aid Plan
After several sessions of strong risk aversion affecting emerging market currencies, optimism returned among traders on expectations that an European Union proposal to rescue Greece will boost appeal for riskier assets, allowing the won to outperform other Asian currencies. The following days will be decisive to determine the market sentiment among traders as a EU summit later this week is likely to include a helping plan from some European … “South Korean Won Rises on EU-Greece Aid Plan”
Brazilian Real Benefits from European Optimism
The Brazilian real was one of the emerging market currencies that profited from an increase in risk appetite after speculations suggesting that the EU will help Greece to solve its budget deficit crisis raised demand for commodities and assets in the South American country, and among other emerging markets. The real had its sharpest advance in 5 days before an European Union summit in which traders expect the bloc to propose a rescue plan … “Brazilian Real Benefits from European Optimism”
Euro Rebounds on Greece Improved Outlook
The euro rallied significantly versus currencies of its main trading partners today on speculations that the European Union will help Greece to end its financial crisis, affecting the single currency outlook in foreign-exchange markets in a positive way after weeks of pessimism. The forecast for Greece’s budget deficit situation has improved significantly today before a EU summit to be held this week in which speculations suggest that other bloc’s members … “Euro Rebounds on Greece Improved Outlook”
GBP/JPY in a Tight Spot
GBP/JPY made a big break downwards and is now hanging around a critical point. This volatile pair doesn’t stay too long in a narrow range. An update about the dragon. GBP/JPY fell on Thursday from 144 to 139 in a matter of hours. Most currency pairs don’t see a 500 pip movement in a short … “GBP/JPY in a Tight Spot”
Euro Unable to React on Debt Concern
The euro remained trading near 2010 record lows reached last week as the fiscal health of several Eurozone member countries is putting the single currency under pressure before an ECB monthly bulletin to be released on Thursday this week. The Eurozone currency did not manage to pare last week losses versus important currencies from its main trading partners as the U.K., the U.S. and Japan after the EU President Herman … “Euro Unable to React on Debt Concern”
Crude Oil Advance Favors Norway’s Krone
The krone rose today as Norway’s chief export, the crude oil, reverted a negative trend that forced commodity linked currencies down during most of last week’s trading session as concerns regarding Europe’s rising budget deficit eased slightly today. A decline in risk aversion today allowed commodities to rally significantly, boosting demand for commodity exporter countries like Chile, South Africa and Norway. The krone posted its first advance … “Crude Oil Advance Favors Norway’s Krone”
South African Rand Climbs on Commodities Rebound
After a bearish last week that forced emerging market currencies down versus refuge investments in the U.S. and Japan, risk appetite returned timidly today, allowing the South African rand to climb as commodities rebounded. The South African rand topped the list of best performing currencies in the beginning of this week as risk appetite rebounded globally after concern an eventual Greek deficit default decline today after government officials affirmed that … “South African Rand Climbs on Commodities Rebound”
Canadian Dollar Ends Fall on Housing Starts, Oil
The Canadian currency climbed from the lowest rate in 2010 versus its U.S. counterpart as a positive real state report combined with a slight recovery in the crude oil rates gave strength for the loonie to trade below $1.07 in this start of this week’s session. The roller coaster on equities and commodities rates with alternating sessions of risk aversion and risk appetite is causing strong volatility on the Canadian dollar price, and after touching the lowest … “Canadian Dollar Ends Fall on Housing Starts, Oil”