The Australian and New Zealand dollars retreated today after Standard and Poor’s cut Spain’s credit rating yesterday, damping risk appetite on the Forex market.
S&P Cuts Spain’s Credit Rating, Fears for Europe Return
October 14th, 2011 at 0:42
Another European country experienced a downgrade of its credit rating. This Standard & Poor’s cut the sovereign rating of Spain, reminding traders that the story of Europe’s woes is far from over and the debt crisis may spread across the region.
Czech Koruna Goes Down with Increasing Trade Balance Deficit
The Czech koruna fell today after the report showed the nation’s trade balance deficit widened in August more than was anticipated by market analysts, making the koruna less attractive to investors.
Loonie Lower on Oil Prices, Risk Aversion
October 13th, 2011 at 15:16
The Canadian dollar is heading lower in Forex trading today, thanks to declining oil prices and an increase in risk aversion. Yesterday’s risk rally appears to be over, and concerns about what’s next for the global economy are weighing on high beta currencies like the loonie.
Yen Rises as Chinese Export Growth Slows
October 13th, 2011 at 13:58
The Japanese yen advanced today after the report showed China’s export growth rose with slower pace last month, resulting in shrinking trade surplus.
ECB Warning Sends Euro Lower Against the US Dollar
October 13th, 2011 at 13:10
The European Central Bank issued a warning earlier about the dangers of requiring the private sector to take a more active role in sovereign debt bailouts. Germany has been leading the effort to include involvement by private bond holders, and the ECB thinks that such a move could put the entire eurozone at risk.
Swiss Franc Regains Footing as Talks About Ceiling Recede
October 13th, 2011 at 5:16
The Swiss franc strengthened as the speculation the Swiss National Bank won’t boost the cap to the currency made investors to look at the franc with renewed interest.
Chilean Peso Goes Higher with Copper on Optimistic Mood
October 13th, 2011 at 4:25
The Chilean peso rose today as copper jumped, bolstered by the optimistic outlook for resolution of the debt crisis in the European Union.
Employment Data Sends UK Pound Lower
October 12th, 2011 at 16:21
A consumer sentiment index measuring how Britons feel about hiring prospects fell to minus 67, a decline of one point. The news that consumers aren’t feeling very confident has the UK pound lower against many of its counterparts on the Forex market.
US Dollar Lower as Global Equities Advance
October 12th, 2011 at 13:27
The US dollar remains lower in Forex trading today, heading down as global equities continue gain ground. Instead of focusing on Slovakia’s rejection of the EFSF expansion, traders are focusing on bank recapitalization expectations.