FOREXYARD: Forex News Blog | |
- Yen Slides Against Majors Whilst Canadian Dollar Climbs
- Crude Oil Trades Up on Retail Sales and Spanish Debt Crisis
- Euro Gains After Hitting 2-Month Low Versus U.S Dollar
- Crude Oil Outlook This Week
| Yen Slides Against Majors Whilst Canadian Dollar Climbs Posted: 17 Apr 2012 10:09 AM PDT
Tuesday’s trading saw the Japanese Yen decline versus most of its Major currency counterparts including the Euro and the U.S Dollar. The fall in the Yen was due to a report out of Germany indicating a rise in investor confidence which is now at a two-year high, making riskier assets more appealing to investors. The Yen dropped 0.4 against the U.S dollar and also fell short versus the Euro dropping 0.5 percent after seeing a 0.4 percent rise earlier on. Elsewhere,the Canadian dollar performed well against the greenback as it appreciated the most in four months. The climb of the “loonie” came after the central bank commented on higher borrowing costs. There are a number of financial reports still due for release this week that could affect the movements of the Major currencies including,UK Monetary Policy Meeting Minutes,Bank of Canada Monetary Policy Report,U.S Initial Jobless Claims and Existing Home Sales |
| Crude Oil Trades Up on Retail Sales and Spanish Debt Crisis Posted: 17 Apr 2012 05:38 AM PDT
Crude oil prices reached a three-day high after better then expected U.S Retail Sales figures and played off the renewed concerns over the financial stability of Spain in the Euro-zone. U.S retail numbers were on the rise for the month of March, coming as some what of a surprise as the outcome was greater then expected. Crude for May delivery rose 0.8 percent to$103.77 per barrel on the New York Mercantile Exchange.The commodity was trading just below this rate at $103.68 at approximately 12:00pm London time. Despite the ongoing tensions with Iran and the West, Crude Oil has shown a 4.9% rise in prices for 2012 so far. |
| Euro Gains After Hitting 2-Month Low Versus U.S Dollar Posted: 16 Apr 2012 08:07 PM PDT
Monday’s trading saw the 17-nation currency correct its losses as it traded up versus most of its Major currency counterparts including the U.S Dollar. However, new concerns over the economic stability of both Spain and Italy will continue to affect the movements of the single currency. The single currency momentarily traded below $1.30 versus the U.S Dollar after Spanish government bond yields appreciated due to fresh concerns over the country’s future growth.The last time the Euro traded below the $1.30 level was back in February of this year. Renewed pressure on Spanish Bonds pushed the 10-year yield above the 6 percent mark for the first time since the beginning of December. Elsewhere, Italian 10-year bonds appreciated to 5.67 percent,nearing a two-month high.The fresh concerns over the financial stability of both Spain and Italy could have a negative affect on the 17-nation currency. Tomorrow, Spain looks to sell 12- and 18- month bills, followed by Auctions on Thursday. |
| Posted: 16 Apr 2012 10:41 AM PDT
Over the past few weeks Crude Oil has moved in different directions, showing no clear trend. Since early March, the commodity has dropped in value but has also rallied throughout. The situation between Iran and the West has dominated the headlines and has played a major role in the direction of crude oil over the weeks. There are a number of financial reports due for release this week that could affect the movements of crude oil including, the Bank of Canada’s Overnight Rate,U.S Jobless Claims Weekly Update,Philly Fed Manufacturing Index and U.S Natural Gas Storage Weekly Report. To conclude, if the U.S-related reports provide positive data and indicate signs of growth, it could possibly push up crude oil prices.If some of the Major currency counterparts such as the Euro and the Australian dollar strengthen versus the greenback,there is also a possibility that crude prices will appreciate. |
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