FOREXYARD: Forex News Blog | |
| Posted: 06 Mar 2012 09:18 AM PST
The USD continued to make gains against traditionally riskier currencies on Tuesday. The greenback has solidified gains against the NZD, AUD, and CAD as a series of announcements have driven traders to the more stable USD. During afternoon trading on Thursday the AUD/USD stood at $1.0567, the NZD/USD was hovering around $0.8121 and the USD/CAD was close to $1.000. Worries over the Chinese economy after its 2012 growth forecast was cut down to 7.5% prompted many investors to head towards the greenback as the dollar has traditionally provided a degree of stability. Also, the Australian government has left the option open to further interest rate cuts, thus increasing the overall uncertainty abound in the market. Read more forex news on our forex blog. |
| Aussie and Kiwi Dropping Value Posted: 06 Mar 2012 06:13 AM PST
Riskier currencies such as the aussie and kiwi continue to fall against the USD. As uncertainty remains across the market, traders can be expected to look towards traditionally stable currencies like the greenback. As of this morning, the aussie is lagging against the greenback at $1.0604 and the NZD is hovering around $0.8131 against the USD. Heading into this afternoon, we’ll see news coming out of Canada regarding its PMI numbers. Additionally, Australia will be releasing various economic figures, including its RBA rate statement. This news does hold the potential to influence more volatile currencies’ current weakness against the American dollar. Read more news on our forex blog. |
| Posted: 06 Mar 2012 02:30 AM PST
The euro continued its slide into this morning and finds itself down once more against the dollar and Japanese yen. Uncertainty persists regarding the status of the Greek debt crisis and these worries are beginning to bring down other traditionally riskier currencies, such as the Australian and New Zealand dollar. As of this morning, the EUR/USD is standing near $1.3191, marking a significant drop from last Friday. Analysts are predicting that until a clearer picture of the crisis is discerned, the euro will stay well below the $1.3500 mark. Read more forex news on our forex blog. |
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