News
- 22 February 2012
Risk aversion leads to USD gains
The USD was able to largely recoup the losses it took on Monday throughout yesterday's trading session, as ongoing euro-zone worries led to risk aversion in the market place. The EUR/USD fell over 100 pips yesterday, to just below the 1.3200 level, before staging a mild upward correction. The AUD/USD also fell close to 100 pips yesterday. The pair has been unable to break the 1.0800 resistance level and has dropped as low as 1.0652. Meanwhile, against the Japanese yen, the dollar has managed to hang onto recent gains, but has been unable to break above the 79.90 level.
- 22 February 2012
Despite greek bailout, EUR resumes bearishness
The euro staged a downward reversal during yesterday's trading session, despite the approval of a Greek bailout package that many hoped would boost riskier currencies. The EUR/USD once again fell below the 1.3200 level during European trading before staging a slight correction and stabilizing around the 1.3230 level. Against the Japanese yen, the common currency fell some 80 pips before bouncing back to the 105.40 level.
- 22 February 2012
USD gains on loonie following retail sales figure
The loonie took some losses against the US dollar in trading yesterday, after negative euro-zone news and a worse than expected Canadian Core Retail Sales figure caused investors to revert back to safe havens. The indicator came in at 0.0% following last month's reading of 0.4%. The USD/CAD extended its upward momentum following the indicators release before stabilizing right around the 0.9970 level.
- 21 February 2012
USD tumbles after greek debt deal reached
The US dollar started the week off on a bearish note, as investor risk appetite went up amid hopes of that Greece would receive its much needed bailout package. That trend continued throughout the day and into overnight trading, after the Greek bailout deal was approved. The EUR/USD rose to just below the 1.3300 level before staging a slight downward correction. The AUD/USD shot up to the 1.0815 level before correcting itself during overnight trading. The pair is currently trading around 1.0735.
- 21 February 2012
EUR starts week off bullish
The euro extended last Friday's bullish momentum throughout the day yesterday, as investors reverted to riskier assets ahead of the approval of the Greek bailout package. Following its approval, the euro continued advancing against safe-haven currencies like the US dollar and Japanese yen. While the EUR/USD capped its gains just below the 1.3300 level, the EUR/JPY continued to move throughout the night. The pair is currently trading just below 106.00, up over 100 pips since the Greek deal was announced.
- 21 February 2012
EUR gains on JPY amid increase in risk taking
The yen took significant losses against the euro yesterday, following positive euro-zone news which led to investors abandoning safe-haven assets. At the same time, the USD/JPY hit resistance just below the 80.00 level, which was followed by a slight downward correction. The pair spent much of the day hovering around the 79.45 level.