Last week ended with a spectacular rally by risky assets. This week, though, appears to be reversing course, at lease a little bit. Risk assets are pulling back in light of some developments regarding the US economy. Manufacturing activity is weighing on risk currencies, and providing something of a boost for the US dollar.
June 30th, 2012 at 1:10
The Canadian dollar jumped against the US dollar and the Japanese yen, demonstrating the biggest advance this year, as risk appetite ruled the Forex market after the conclusion of the two-day EU summit. The currency closed weaker against the euro, but the losses were limited.
June 29th, 2012 at 16:01
Today, it’s all about the better news out of Europe. US dollar is pulling back against high beta currencies as the news that the EU summit might have accomplished something substantial spurs risk appetite.
June 28th, 2012 at 14:12
Canadian dollar is struggling today, especially against the US dollar, as concerns in Europe, as well as uncertainties elsewhere weigh on riskier assets. As equity markets fall, and commodities pull back, high beta currencies like the loonie are headed lower.
June 28th, 2012 at 13:38
It’s all about the uncertainty today, giving the US dollar a boost as Forex traders nervously await a number of outcomes. From the Supreme Court’s ruling on the health care reform bill, to the EU summit underway in Europe, to concerns about how the losses from JP Morgan Chase’s “London Whale” are ballooning, it is little surprise that it’s all about the safe haven today.
June 28th, 2012 at 2:05
The Canadian dollar was stronger against its US peer at the first hours of today’s trading session, but Forex market participants are not sure whether the currency would be able to keep the positive performance in light of uncertainty caused by today’s meeting of European leaders.
June 27th, 2012 at 16:35
The New Zealand dollar advanced today, erasing its previous losses. The currency declined earlier as the trade balance surplus shrank last month and skepticism about the coming EU summit reduced demand for currencies with higher yield.
June 27th, 2012 at 13:41
UK pound is struggling today, heading lower against its major counterparts. There is a lot weighing on the pound, from the fact that the London Olympics have failed to support home prices, to speculation that the yuan will undergo a great deal of depreciation during the rest of this year and possibly next year.
June 27th, 2012 at 12:37
Japanese yen is mixed against majors today as concerns about Europe continue, and as the EU summit prepares to take off. Yen is higher against the UK pound, but lower against the euro and the US dollar.
June 26th, 2012 at 23:54
The US dollar was weak today as reports about manufacturing and consumer sentiment were unexpectedly bad, spurring speculations that the Federal Reserve may yet turn to quantitative easing as a way to bolster the faltering economic recovery. The greenback was almost flat against the euro.