Daily Forex News

By Barbara Zigah Earlier today, Statistics Canada released its 4th quarter 2010 GDP data, which came in at 3.3% growth (on an annualized basis), a significant improvement over analysts’ growth estimates.  Previously, a consensus of economists had been predicting that growth would pick up, forecasting a rise to 2.9% for the last quarter of 2010.  [...]

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By Barbara Zigah While the worlds’ focus has recently been on the geopolitical developments in the Middle East and Northern Africa, the Eurozone’s own troubles have been merely pushed to the background.  But, all too soon, developments in Portugal will likely propel the Eurozone back into investors’ consciousness.Last Friday, the Portuguese government’s benchmark interest rate [...]

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By David Becker Global equity markets turned higher on Friday after crude prices began to stabilize late in New York as reports surface that Saudi Arabia would try to make up for any shortfalls in oil. Asian stocks advanced for the first time this week, with the MSCI Asia Pacific index up 1%, while Japan’s [...]

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Given the recent rises in commodity prices, investors may be wondering what impact the higher prices might have on the economies of developed and emerging nations.  The two key questions which arise are 1) how much of an effect will rising commodity prices have on domestic prices and 2) how will the economic authorities react [...]

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By Barbara Zigah As global investors were awaiting the U.S. Commerce Department’s release of 4th quarter GDP data, prices on U.S. stock futures were trading within tight ranges.  Given the unexpected contraction in the United Kingdom’s GDP earlier today, investors appear unwilling to stick their proverbial collective neck out too far. For the most part, [...]

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By Barbara Zigah The Pound Sterling had been trending higher this week, with investors anticipating that inflationary pressures would likely coerce the Bank of England’s MPC to take a more hawkish position on rate hikes.  Even so, many investors exercised caution, concerned that the release of U.K. GDP data might show that growth of the [...]

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By David Becker The Australian dollar moved higher against the greenback as more attractive yields in Australia continue to drive capital into the AUD/USD.Figures from the Australian Bureau of Statistics point to a planned 32 per cent increase in business investment in the year ending June 30, 2012. Expansion plans among mine companies are the [...]

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By David Becker The US dollar remains under pressure with its status as a safe haven currency undermined by a softening of US yields.Overall, the market remains risk averse but yield sensitive.The Swiss franc are likely to remain the safe currencies of choice, with the dollar remaining below ¥82.00 versus the yen and near record [...]

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By Barbara Zigah The Japanese Yen, struggling in recent days in spite of the escalating violence in the oil producing nations, is finally seeing some gains.  But the gains are not entirely related to the safe-haven inflows of nervous investors that you might expect.  In general, it is the weakness in the U.S. Dollar, in [...]

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By Barbara Zigah As most analysts expected, the price of NYMEX-traded West Texas Intermediate (WTI) crude oil rose above the $100 per barrel threshold, narrowing the price disparity between WTI and London-traded Brent crude.  This followed yesterday’s news that civil unrest in Libya reached that country’s capital, Tripoli, and that there was growing dissention among [...]

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