The Euro is Down Yet Again

09-01-2012

The Euro continued its downward trend this morning with the EUR/GBP down 0.10% and trading at .8238. Since the beginning of this year the Euro has been hounded by political and fiscal uncertainty as investors look for signs of stability from the single currency’s governing body. The Euro is also down against the Swiss Franc and the Yen, but up against the U.S. Dollar. French President Nicolas Sarkozky and German Chancellor Angela Merkel are scheduled to meet today to discuss the current European debt crisis. Both European leaders will probably not be in the best of spirits after several bond auctions that have produced less than stellar results.

Downward trends continue in Asia

Asian markets suffered their third straight day of decline, with Samsung, HTC Corp and Hutchison Whampoa all experiencing significant setbacks. The MSCI Asia Pacific Excluding Japan Index (MXAPJ) continued to head south, dropping by 0.8 percent to 392.79 at the time of this writing. The Japan NI225 Index is down sharply this morning at 8390.35, a decline of 1.16%. Despite the appearance of a recovering American economy, Asian markets continue to take their marching orders from the sinking European economy.

No economic data from the US

No figures are scheduled to be released today from the United States. The Trade Balance report from the China will be released though the exact times, and perhaps even the date, remain uncertain. The figures for Building Approvals in Australia will also become available and provide an indication of how the Australian Economy is faring. The Aussie has lost some ground recently due to slumping retail numbers and a contraction of the Australian economy.

Commodities down this morning

Mixed results for the commodities market this morning, with gold down 0.15 percent, trading at 1614.45. The value of gold tends to decline when the USD increases in value, as has happened over the last several days of trading. Copper and crude oil are also down, with the latter trading at 101.19 per barrel. Silver is the exception, up by 0.31 percent and trading at 28.773.

Indices heading south

Almost all indices are down this morning, due mainly to the never ending financial turmoil in Europe. The EU Stoxx50 is down by 0.74 percent, while the US 30 is down by 0.45 percent, currently at 12359.92. Only the UK 100 and the NQ 100 have posted notable gains. In stock futures, the only increase was by the BOVE SPA, valued at 59,071.00, an increase of 33.00.

Is the US economy on the rise?

Mixed results for the USD this morning as traders remain skeptic about the recovery of the American economy. The EUR/USD and the GBP/USD are both up this morning by 0.039 percent and 0.036 percent respectively. The AUD/USD is down by 0.415% and trading at 1.0187 and the USD/JPY is down as well, trading at 76.92. Both the European Central Bank and the Bank of England will meet on Thursday regarding interest rates that will influence the direction of currencies in the short term.

USD Steady Overall 21-05-2012

The Dollar is trading slightly lower this morning against the Euro, as finance ministers from the G8 summit that took place at the end of last week acknowledged that their agenda is to keep the Eurozone intact and prevent a Greek exit. The EUR/USD is up during early European trading by 0.04%, sitting at 1.2784. Leaders at the G8 summit [...]

Greek Exit More Likely Than Ever 18-05-2012

The small change in direction experienced by the markets on Thursday was short lived, as the Euro once again stumbled against the greenback during Asian trading on Friday. The EUR/USD is down 0.40% and trading at 1.2647. The USD gained some ground on the single currency after yesterday’s Unemployment Claims report in the United States [...]

Trends Reverse…Slightly 17-05-2012

The Euro is up slightly against the greenback during early European trading on Thursday, but remains far below levels from two weeks ago. The EUR/USD is up 0.18% and trading at 1.2739 this morning, rebounding from a 0.10% decline during yesterday’s trading in the United States that saw the pair close the session at 1.2717. The Dollar is [...]

The Collapse of Oil Prices Continues 16-05-2012

Early trading on Wednesday saw a continuing trend of investor concern towards the Greek political crisis and a rush to the greenback. With the chance of Greece leaving the Eurozone more likely with each passing day, the Euro continues to struggle against the Dollar. The EUR/USD is down 0.11% in early European trading this morning, at [...]

European Uncertainty 15-05-2012

The U.S. Dollar was up against most major currencies on Monday, as investor uncertainty regarding the Greek political crisis continued to push investors towards the safe haven of the greenback. The Euro is up slightly at the beginning of the European trading session on Tuesday by 0.05%, sitting at 1.2828. The Euro has declines sharply [...]

Euro Falls Once Again 14-05-2012

Political uncertainty in Greece and mass protests in Spain has pushed the EUR/USD down 0.15% to 1.2897 during late Asian trading on Monday. In fact, the greenback was either steady or up against most major currencies as traders searched for a temporary safe haven in order to dodge uncertainty in the markets. The increased value of the [...]

Time Is Ticking For Greece 11-05-2012

The Euro is back on the decline during Asian trading on Friday, with the EUR/USD down 0.14% and trading at 1.2920. The pair continues to hover at around 1.3000 after the single currency took a major hit due to fears surrounding political instability in Greece and future fiscal policy in France. The pound is also down against the greenback [...]

Euro Declines Stop 10-05-2012

The Euro has rebounded slightly against the USD during Asian trading on Thursday after posting huge losses over the last several days. The EUR/USD is up 0.15% and trading at 1.2946. The majority of major currencies are also up against the greenback this morning, including the Pound, Swiss Franc and Australian Dollar. The Aussie posted [...]

Euro Decline Continues 09-05-2012

The beginning of trading on Wednesday continued the negative trend of the Euro and oil. The Euro continues to decline sharply, down 0.24% and trading at 1.2975. The EUR/USD broke through the 1.3000 barrier earlier this week after European elections in France and Greece cast a shadow over the future of the single currency. The Euro is also [...]

Declines Continue for Oil and Euro 08-05-2012

The Euro is down once again during late Asian trading on Monday, after suffering huge losses yesterday. The EUR/USD is down 0.15% and trading at 1.3032. The single currency did manage to recover somewhat during late trading yesterday, rebounding from a decline of 0.81% at the end of the Asian trading session. Investors continue to show [...]

Go Back