FOREXYARD: Forex News Blog | |
- Unemployment Numbers from the US
- As Day Goes On, Greece Weighing Down Markets
- USD On the Rise
- Volatility Continues
| Unemployment Numbers from the US Posted: 16 Feb 2012 09:36 AM PST
Joblessness in the States has gone down as numbers of unemployment claims showed a significant decline during the last week. This represents the lowest level of unemployment in almost four years, a good sign for a US economy that is so far maintaining its recovery. The decrease in claims from 361,000 to 348,000, a drop of 13,000, was far better than many forecasts predicted. Analysts reached a rough consensus that unemployment claims would have actually increased by 7,000, so the decrease of 13,000 was a pleasant surprise for many. The overall impact on the USD has been positive as the greenback has maintained its gains on the Japanese yen and the euro. These recent trends could also have much to do with growing uncertainty in regard to the Greek debt crisis. |
| As Day Goes On, Greece Weighing Down Markets Posted: 16 Feb 2012 06:09 AM PST
No new developments are expected in the Greek debt debacle until next Monday when EU finance ministers meet to discuss a second bailout package. However, until then the markets are not dealing well with the lack of clarity on the situation. The euro has dropped against the greenback and Japanese yen and European markets have taken a hit as well. As it stands this afternoon, the EUR/USD has dropped below $1.3000—its lowest point since January 25th. Also experiencing a setback are European stock markets. The Stoxx Europe 600 dropped 0.6% as of this afternoon and it’s possible it won’t experience a rebound until better news arrives from Greece. |
| Posted: 16 Feb 2012 03:40 AM PST
The greenback made gains this morning against the euro and Swiss franc. A few factors contributed to this morning’s rise, including positive news for the USD. There are signs that the US stock markets were showing resilience helped boost investor confidence in the overall strength of the USD and the US economy. Also giving the USD a boost were the positive forecasts of the housing and unemployment figures expected later today. While forecasts are certainly good, traders would be well advised to keep a close eye on degree of impact the expected figures have. |
| Posted: 16 Feb 2012 02:55 AM PST
The EUR/USD continued to take a downward turn as news regarding the anticipated Greek bailout package is not inspiring confidence amongst investors. The news that EU finance ministers were looking for ways to delay parts of the second Greek bailout has caused a great deal of uncertainty regarding the euro. As of this morning the EUR/USD was at its lowest point in three weeks at $1.3020. The next development in this story might have to wait until next Monday when EU finance minister are to meet regarding the approval of a second rescue package for Greece. Until then, there is a possibility that volatility will continue. |
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