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Against Yen AppreciationTitle:
UK Pound Drops Against Stronger Euro
UK pound is declining today, especially against the euro, as the latest news indicates that the eurozone is likely to avoid a recession. The pullback in the pound is not limited to its performance against the euro, though. The British currency is also down against the US dollar as Forex traders re-evaluate recent gains made by the pound.
UK pound is lower against the euro mainly due to the latest economic news out of Germany. Germany’s GDP single-handedly offset declines elsewhere in the eurozone and kept the 17-nation currency region out of recession. As a result, the UK pound, which has been gaining as a European safe haven, is no longer in demand. The euro is gaining, and the pound is lower.
The news has also affected the pound’s performance against other currencies. Sterling is lower ...
Title:
Dukascopy Afternoon Forex Overview : 04/11/2012
Dukascopy Fundamental Analysis
EUR
European stocks declined as company earnings missed estimates, talks on forming a Greek government entered a fifth day and JPMorgan Chase & Co. posted a $2 billion trading loss. Asian shares and U.S. futures fell.
USD
Wholesale prices in the U.S. fell in April for the first time in four months, led by a decline in fuel costs that signals inflation may cool. The producer price index dropped 0.2 percent after no change in March, Labor Department figures showed today in Washington.
GBP
Britons turned gloomier last month as a slump in construction pointed to an even deeper recession and producers ramped up prices, highlighting the long and difficult road back to economic health.
CHF
Swiss stocks fell for the seventh day, heading for the biggest weekly ...
Title:
Euro Declines For The Second Consecutive Day On Risk Aversion
High yielding currencies for the second consecutive day continue the downside movements as Greek politicians are still unable to find common grounds regarding the formation of the new coalition government, with new jitters pressuring the euro as more and more Greeks are calling for ending the bailout deal with the European Union as they reject further austerity.
Alexis Tsipras, the leader of Greece`s Syriza Party, will join his peers in a meeting today, before creating the coalition government; however, tension remains evident, while fears spread sharply as the leader is expected to demand Samaras and Venizelos, the former Greek finance minister, to revoke their pledges to implement the austerity measures associated with the second bailout deal.
High yielding currencies are weak against ...
Title:
Dukascopy Afternoon Forex Overview : 02/05/2012
Fundamental Analysis
EUR
German jobless rate unexpectedly climbed first time in last six months as debt turmoil curbed economic growth. The number of unemployed people increased by 19 000, reaching 2.87 million, compared to an expected drop by 10 000 people. The adjusted unemployment rate was 6.8%.
USD
Mitt Romney announced that Yuan's 23% appreciation versus U.S. Dollar in last five years is not enough and branded world's second largest economy as currency manipulator. Romney promised in his campaigns to put more pressure on China as he claimed Obama hasn't done enough to boost stronger Yuan. Economists questioned by Bloomberg expected Yuan to climb versus greenback to CHY 6.15 by the end of 2012.
GBP
FTSE 100 index traded lower on Wednesday as record high unemployment level and ...
Title:
Dollar slides vs euro, yen; Aussie dollar tumbles
(Reuters) - The dollar fell to a one-month low against the euro and to a 2-1/2 month trough against the yen on Tuesday in thin trading, weighed down by recent weak U.S. economic data that has rekindled speculation about a further round of monetary easing.
The Australian dollar, meanwhile, fell sharply after the Reserve Bank of Australia slashed rates by a deeper-than-expected 50 basis points.
A sharp fall in business activity in the U.S. Midwest and other data on Monday showing Spain was in recession dented investor appetite for risk and supported the safe-haven yen, which also rose against the broadly weaker Aussie dollar.
"Investors have focused on the recent spell of soft U.S. economic reports, which have added to the case for additional Fed easing in the months ahead -- a decidedly ...
Title:
Aussie felled by RBA cut, U.S. dollar heavy
(Reuters) - The Australian dollar fell sharply on Tuesday after the Reserve Bank of Australia slashed rates by a deeper-than-expected 50 basis points while soft data nudged the U.S. dollar to a fresh two-month low versus the yen.
A sharp fall in business activity in the U.S. Midwest combined with data on Monday showing Spain was in recession dented investor appetite for risk and supported the safe-haven yen, which also rose against the broadly weaker Aussie dollar.
Markets had been expecting a 25 basis point rate cut from the Australian central bank (RBA) and the surprise drove the Australian dollar down more than 1 percent to $1.0312 and to a three-month low near 82 yen.
The Aussie traded near a five-month low against sterling, which rose above A$1.5700 despite a weaker than expected ...
Title:
Bernanke Holds The Dollar In His Hands
Currency weakness remains firmly in fashion as policy-makers continue to adjust to the perverse post-crash environment. Although notionally committed to inflation targets, central banks increasingly have effectively been mandated to seek weaker currencies rather than price stability. The Federal Reserve is likely to keep the quantitative easing carrot within peripheral vision which will also act as an important constraint to dollar gains even with a slightly more confident statement. The Fed will stay on guard and be ready to stamp down on any signs of excessive dollar bullishness. The global policy risks still make buying US currency dips remains the best strategy, but patience will certainly be required.
The Bank of Japan and Finance Ministry will act to block any appreciation of the ...
Title:
Euro slides across the board as Spain weighs
(Reuters) - The euro weakened broadly on Monday, hitting a two-month low against the dollar and the yen and a 1-1/2-year trough versus sterling, weighed down by worries about the Spanish economy's fragile state.
Financial market sentiment in the euro zone was on edge Spain's 10-year government bond yields rose above 6 percent for the first time this year and the cost of insuring its debt hit a record high.
Commodities-linked currencies such as the New Zealand and Australian dollars slipped, while the yen rose to a 1-1/2 month high against the U.S. dollar. A stronger-than-expected U.S. retail sales report for March, however, helped the dollar trim some of its losses against the Japanese currency.
Spanish stocks .IBEX and banking shares .SX7E came under pressure as the effects of the ...
Title:
Euro weak around $1.30 as Spanish debt costs mount
(Reuters) - The euro fell broadly on Monday, dropping to a two-month low against the dollar and the safe-haven yen and reaching a 1-1/2 year trough against the British pound, as Spain rekindled worries about the fragile state of the euro zone economy.
As Spanish 10-year government bond yields rose above 6 percent for the first time this year and the cost of insuring its debt hit a record high, sentiment was cautious across financial markets. That weighed on growth-linked currencies such as the Australian dollar while keeping the yen near a seven-week high against the U.S. dollar.
News over the weekend that China had doubled the yuan's daily trading band against the dollar to one percent has so far had limited impact on major currencies.
Spain's failure to convince investors that it can ...
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