FOREXYARD: Forex News Blog

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Euro Slides As Debt Crisis Intensifies Posted: 13 Apr 2012 08:14 AM PDT The Euro experienced a loss versus the U.S dollar during Friday’s trading as concern deepens on the European debit crisis. The weakening Euro was due to speculation surrounding the ECB, and whether it will be required to re-start its Government Bond Purchase Program in order to keep the debt crisis at bay. The 17-Nation currency performed well earlier this week to trade up against the greenback for 3 consecutive days.The Euro is also moving towards a second week of losses versus the Japanese Yen after data showing borrowing from the European Central Bank by Spanish Banks jumped approximately 50 percent for the month of March. Currently, the euro is trading down against the greenback ,dipping as low as the $1,3082 mark.

Gold Rallies After Weakening Dollar Posted: 12 Apr 2012 12:45 PM PDT Good day for the Bullion market as both gold and silver traded up during Thursday’s trading partially due to a weakening dollar as well as the fact that U.S Stocks are on the rise. The yellow metal saw gains of 1.2% to reach the level of $1,680 whilst silver also followed with sharp gains.Other metals also  made gains during Thursday’s trading including copper,platinum and palladium When the U.S dollar weakens we tend to see an opposite reaction with Gold as the metal is a dollar-denominated commodity.Silver also has a correlation with the yellow metal and tends to move in similar patterns, and showing similar trends.

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