US dollar is retaining the upper hand in trading today, as uncertainty remains. Concerns about the eurozone remain, even after the announcement of the Spanish bailout. While US dollar has pared some of its gains, it is still retaining a lot of its strength, especially against the European currencies.
July 10th, 2012 at 14:35
A Spanish bailout has been agreed to, with eurozone leaders providing 30 billion euros by the end of July. On top of that Spain has until 2014 to meet its deficit reduction target. The news, while it has helped bolster stocks, hasn’t given the euro much of a boost. Euro remains lower against the US dollar as other issues take precedence.
July 10th, 2012 at 10:34
The Australian dollar dropped today ahead of the employment report later this week. The report is expected to be rather bad and the resulting pessimism added to the general negative mood on the Forex market that was caused by fears of global economic slowdown. Yet the Australian currency managed to rebound after the initial losses.
July 09th, 2012 at 14:14
UK pound is mixed in Forex trading today, falling against the euro, but higher against the US dollar and the Japanese yen. This development follows choppy trading earlier, in which high beta currencies were mostly lower, and the pound gained against the euro. Even though things seem to have turned around a bit, though, pound is struggling to retain its recent gains.
July 09th, 2012 at 13:10
Euro dropped to a two-year low against the US dollar earlier, but is trying to pare some of its losses and log some gains ahead of a meeting between European finance ministers. Uncertainty is strong today, but there are small inklings of hope for the eurozone as well.
The positive market sentiment, caused by last week’s European summit, completely evaporated this week, allowing the US dollar to gains against most of major currencies. Of course, the same risk aversion also boosted the yen, helping it to outperform the greenback. Against the euro, the US currency jumped to the highest level in two years.
July 06th, 2012 at 23:15
The Canadian dollar dropped today after worse-than-expected US non-farm payrolls put the Forex market in risk-off mode, hurting currencies that are tied to commodities and economic growth. Unsurprisingly, the Canadian currency outperformed the euro.
July 06th, 2012 at 16:06
US dollar is heading higher today, thanks in large part to uncertainties about what’s next for the global economy. Everything seems to be slowing, and concerns about what’s next for the eurozone are taking center stage again. With all the worries, Forex traders are turning to the US dollar as a safe haven.
July 05th, 2012 at 19:01
The Canadian dollar reached the highest level in two years against the euro today as the European Central Bank decreased its key interest rate. The Canadian currency stayed flat versus the US dollar.
July 05th, 2012 at 14:15
Japanese yen is rallying today, gaining against high beta currencies as uncertainty about the markets sets in. Yen is gaining as better news in Japan is balanced against efforts at economic stimulus from other economies.