The Swiss franc dropped today as the declining retail sales and the PMI spurred the speculation that Switzerland’s economy is losing steam. The retail sales fell 0.9 percent in September from a year ago after declining 0.8 percent in August. The actual reading was nowhere near the forecasts of
The Japanese yen returned its strength as the unclear prospects of the Greek referendum make traders to seek safer currencies and Japan’s one remains an obvious option in such cases. The expected referendum in Greece makes Forex traders anxious. What if the referendum would end in ”no” vote
The Norway krone declined today after the Norway central bank announced its plans to purchase foreign currency, weakening the nation’s currency. Norges Bank announced yesterday that it’s going to buy foreign exchange equivalent to 1.6 billion kroner per day for the Government Pension Fund Glo
US dollar is surging today in Forex trading, heading higher as financial markets retreat on the latest debacle in the Greek financial tragedy. In a surprise move, Greece has agreed to call a referendum on the rescue plan, and that has sparked global fears that Greece will just default. A refere
UK pound is down against the US dollar today — but what high beta currency isn’t? With all of the uncertainty surrounding Greece, China and MFGlobal, it’s really no surprise that stocks are being routed, and the pound is following suit. However, the pound is mainly down against the US dol
The Canadian dollar weakened today after stocks declined as traders speculated that the European leaders would experience problems on their way to drag the European Union out of crisis. The optimism about the European rescue plan was really short-lived and investors weren’t very impressed by th
The euro extended its decline today as the fundamental data suggested the economy of the European Union worsened, spurring the speculation that the problems of the EU are too big to be resolved in the near future. The retail sales in Germany, one of the major European economies, rose 0.4 percent
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