The euro is higher by almost 1% versus the dollar, on a monster spike to the upside following the Spanish bailout.
Will The Swiss Blow Themselves Up as They Purchase $7 Million Worth of Euros Every Minute to Keep Up the Peg ?
“The Swiss National Bank (SNB) intervened in support of its 1.2000 currency peg against the Euro to the tune of CHF 60 billion ($66B) in the month of May. The vast majority of this intervention occurred during European trading hours. That means that the SNB bought, on average, the equivalent of $7mm worth of Euros every minute during the month. That’s a staggering number to me.”
Comments »The Aussie and Kiwi Dollars Fall as Risk Off Takes a Hold of Asia
“Market sentiment hasn’t turned to risk-on yet, which is weighing on the Australian and New Zealand currencies,” said Kengo Suzuki, a currency strategist at Mizuho Securities Co., a unit inTokyo of Japan’s third-largest bank by market value.”
Comments »Poor Economic Data in Europe Helped to Knock the Euro Down for a Second Day
“The euro weakened for a second day against the dollar after reports showed German exports tumbled and Italian industrial production shrank, adding to evidence that Europe’s debt crisis is deepening across the region.
The 17-nation euro fell for the first time in six days versus the yen after Fitch Ratings cut Spain’s credit grade to within two steps of junk. The yen and the dollar rose against most of their major peers as a drop in stocks signaled investors favoring the safest assets. Australia’s dollar slid for a second day versus the greenback even as China, the nation’s biggest trading partner, cutinterest rates yesterday to spur growth.”
Comments »The Aussie Dollar Continues RISK ON as Jobs Increase Unexpectedly
The Aussie dollar is up on strong employment numbers and yesterday’s strong GDP data. Of course the speculation of world easing helps too.
Comments »
The Euro Trades Higher for a Fifth Day as Spanish and Italian Bond Auctions Go Smoothly
The Euro Ends it Bounce as More Aid Request Come From Spain and a Constant Barrage of Folly From ECB Leaders
The Euro Continues a Slight Positive Trend From Friday
The Euro has remained above 2010 lows, but since Friday has had a counter trend move, not rally, despite all the negative news.
Comments »The Dollar Finds Strength in a Global Shit Storm
The dollar has hit a 21 month high as worries mount over the European debt crisis that is causing global recession.
Comments »Aussie Dollar Says Risk Off as it Nose Dives Off China PMI Data; Nikkei Gaps Down 1%+
As Spanish Yields Relax The Euro Gets a Lift
The Euro managed to get a lift today as yields relaxed in Spain and other anecdotal comments and data points help to create a calm within a storm.
Comments »FLASH: The Euro is Hitting Fresh Lows
The Euro Gives Up Early Gains Again
The Euro popped yesterday and today only to give it all back and go negative. The Euro is hovering in the 1.25 area where there seems to be either support or short covering…
Comments »The Dollar Rises 12% Since the Fed Started Printing in 2008
As the world navigates an uncertain time of can kicking, the dollar becomes a scarce asset for safe heaven bets.
Comments »The Euro Pops Early On Against the Dollar, But Pares Gains Quickly
The Euro bounced from last weeks lows to hit near 1.28 to teh dollar, but them fell back into the 1.25 area to go negative.
Comments »Risk On Trades Show Up in the Aussie and Kiwi Dollar
Hopes of a pro bailout party winning in Greece have arisen after the took a high ranking in a recent poll in Greece. That has led to a risk on trade in is the east and sets up trade for tomorrow.
Comments »FLASH: EUR/USD Dips Below 1.25
Weak Oil Prices Crushes the Ruble
The Euro Stabilizes and Pops a Bit on Hopes of European Bond Proposal
While still conjecture the markets and the Euro have hope that Euro bonds will be issued to stem the debt crisis.
Comments »The Aussie and Kiwi Dollars Hover Over Recent Lows
Currency traders kept the Aussie and Kiwi dollars largely unch as the recent sell off may be over done.
Comments »
