London Session – November 28, 2011 1:51 PM
November 28, 2011
Endgame for the Eurozone crisis Full text »
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Dollar Drops in Currency Trading as Risk Appetite Improves
November 28, 2011
Greenback lower in forex trading
The dollar is down in currency trading on the FX market as risk appetite improves today. Even though the OECD believes that the eurozone is in a mild recession, the euro is surging in forex trading.
Indeed, many forex traders are optimistic about the future — at least for now — thanks to the big start to the holiday shopping season. Black Friday was considered a big success, and Cyber Monday is expected to be a big success as well. As the holiday shopping season gets under way, risk appetite is back and the euro is gaining in forex trading.
There are some concerns about how sustainable the situation is for the euro in forex trading. There are still problems regarding sovereign debt, but for now the US dollar is in retreat as focus shifts to good news.
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- Economic News and Forex Trading
Currency trading news
OECD Thinks Eurozone is in a Recession
November 28, 2011
Euro higher in forex trading anyway
According to the OECD, the eurozone is already in a recession. The news comes as concerns about the state of sovereign debt in the eurozone presents a matter of concern to many. With the global recovery running down, and growth issues in the eurozone, it seems likely that the area is in a mild recession.
However, that news isn’t hurting the euro in forex trading today. Indeed, the euro is higher today, gaining as risk appetite returns to the markets. Gold prices are heading higher, and that is helping the euro against the US dollar.
Also helping the euro against the US dollar is the focus on holiday shopping. Instead of looking at eurozone problems today, though, forex traders are considering the holiday shopping season. The strong start over the weekend has risk appetite rising.
See Also
- Euro in Forex Trading
Forex market news and information
Asia Session – November 28, 2011 1:16 AM
November 28, 2011
The new week in Asia started off in a dynamic fashion today as the rumor mill sent risk gapping higher on the Monday open. A newspaper article in Italy made claims that the IMF was set to help bail out the nation to the tune of 600 Billion Euros, sending the EUR/USD almost a big figure higher to opening levels near 1.3320. While the Italian newspaper that ran the story would not give any details on sources, risk remained lofted despite the fact that many looked at the story with skepticism. The moves were significant for a Monday in Asia, with the AUD/USD adding almost 80 pips to 0.9885, and the EUR/JPY crossing 103.50 on the day. Full text »
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Canadian Dollar Struggles in Currency Trading
November 25, 2011
Loonie forex trading forecast
Canadian dollar is lower in currency trading today, ending the week down against the US dollar as concerns in Europe send forex traders to the relatively safety of the US dollar.
Even slightly higher oil prices haven’t been able to help the loonie in forex trading today. So, for now, the Canadian dollar is likely to remain somewhat weak. The environment is just too risk averse.
So far on the year, loonie has dropped 3.7%. And, if the troubles in Europe are any indication, it is likely that the trend isn’t going to change, and the Canadian dollar will probably be weaker by the end of 2011, after showing some serious strength in 2010.
See Also
- Loonie Forex Trading Forecast
Currency market news
Euro Sinks in Forex Trading
November 25, 2011
Eurozone closer to the brink
Euro is moving much lower in forex trading on the currency market, heading down as concerns about what’s next for the eurozone worries investors and forex traders around the world.
Today’s rating downgrade of Belgium by S&P has once again brought focus to the debt situation in Europe. Indeed, the Belgium downgrade is a reminder that France has been issued a bond warning, and that the last German bund auction ended in failure.
As a result, it is little surprise that the euro is down almost across the board. Euro is lower against the US dollar, as well as against the UK pound. There seems little that can be done — unless eurozone leaders can come together and actually come up with a viable solution to the sovereign debt crisis.
See Also
- Euro in Forex Trading
Euro on the currency market
London Session – November 25, 2011 6:40 AM
November 25, 2011
Italy on the edge as America goes shopping Full text »
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Asia Session – November 25, 2011 12:22 AM
November 25, 2011
With the markets in full holiday mode, it was a lackluster Friday today in Asia as traders seemed to pull the plug early ahead of a long weekend due to today’s Thanksgiving Day holiday in the US. With that being said, the EUR/USD continued to drift lower and hit fresh seven week lows near 1.3300 on the continued fears over the European debt crisis. The poor showing in Wednesdays German bond, (Bund) auction seemed to send shivers through markets with the realization that even the mighty Germany was not exempt from the repercussions of debt problems in Greece, Portugal and Italy to name a few. Full text »
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Could the Great Britain Pound be the Next European Safe Haven?
November 24, 2011
Sterling showing strength in forex trading
Happy Thanksgiving!
Even though the stock market is closed here in the US, the forex market remains open. As a result, there is still plenty going on right now, especially with the situation in the eurozone.
Indeed, some speculate that the Great Britain pound might be the next European safe haven. While sterling is lower against the dollar and the yen, it has been making strides against the euro and the Swiss franc.
It’s no surprise that the pound is finding strength against the euro; the eurozone situation is so untenable right now. Plus, the efforts by the Swiss in recent years to reduce the reliance on the franc as a safe haven have been showing signs of success. For the most part, that leaves the pound.
With the UK seeing better than expected growth recently, it seems as though the pound might be the next European safe haven — at least for a little while.
See Also
- Pound in Forex Trading
Forex market news
London Session – November 24, 2011 12:17 PM
November 24, 2011
London/ New York Session: No swift solution to Europe’s sovereign debt crisis Full text »
