Archive for April 24th, 2013

Pound Gains on Europe’s Woes, Trims Rally vs. Euro

The Great Britain pound rallied today as poor macroeconomic data from Europe increased the appeal of the UK currency as a safe haven against problems in the eurozone. The sterling trimmed its gains versus the euro as Britain’s retail sales unexpectedly fell.

CAD Reverses Losses vs. USD & JPY, Erases Gains vs. EUR

The Canadian dollar was falling today against the US dollar and the Japanese yen, but pared losses and is hovering near the opening level right now. On the other hand, the currency erased its gains versus the euro.

Euro Loses Ground on Economic Data

Euro is losing ground today, thanks to more disappointing economic data out of Germany, and across the eurozone. Euro is down against all of its major counterparts due to concerns about the faltering German economy, and its affect on the rest of the eurozone.

US Dollar Trades Mixed Today

US dollar is trading mixed today, and is mostly rangebound, as Forex traders await developments. There is plenty to consider right now, between speculation of an ECB cut and interest in continued earnings reports.

Yen Weakens as Traders Hope for More Stimulus from Central Banks

The Japanese yen weakened today as prospects for additional stimulus from central banks of developed nations attracted investors to higher-yielding assets and reduced demand for safety.

NZ Dollar Soars as RBNZ Refrains from Cutting Interest Rates

The New Zealand dollar surged today after the Reserve Bank of New Zealand left its main interest rate unchanged and suggested that there will be no rate cuts this year.

Aussie Attempts to Hold Ground amid Negative Fundamentals

The Australian dollar fluctuated today, but was fairly resilient even as both global and domestic fundamentals were not supportive for the currency that is linked to commodities and economic growth.

Loonie Heads Lower After Good Trading Session

The Canadian dollar retreated today following yesterday’s gains as poor macroeconomic data from the United States and China drove commodity prices lower. The rally on the previous trading session was caused by good domestic fundamentals.

Archives

SUBSCRIBE

Subscribe to Forex News by E-mail: