Greenback is heading lower today, dropping as economic news softens and results in speculation that the Fed’s taper won’t move forward at a rapid rate.
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The Canadian dollar continues to weaken in Forex trading, but not everyone is upset about that. There are some who think that the weaker loonie could be a help to the Canadian economy.
UK pound is moving higher today, surging ahead of its major counterparts on the latest unemployment report. As the unemployment rate fell to its lowest level in five years, there are expectations that the Bank of England will consider cutting back on its asset purchase program.
Even though the eurozone debt dropped for the first time in almost six years, and even though a recent poll shows that 57 per cent of investors feel that the worst is over for the eurozone, there are still concerns and the euro is struggling today.
Greenback is mostly higher today, gaining against many of its major counterparts as the latest expectations for a Federal Reserve taper are bandied about.
Even though eurozone home prices were higher, the ZEW’s disappointment is overcoming some of the good news and sending the 18-nation currency lower against some of its major counterparts.
Canadian dollar is inching higher against its major counterparts, gaining ground as Forex traders consider their positions, and as the situation changes for the currency.
UK home prices declined in December, once again calling into question the situation surrounding the economic recovery. Pound is lower today as a result of this disappointing news.
UK pound is heading lower today, thanks in large part to disappointing economic data. Analysts and others have had high hopes for the United Kingdom, and the disappointing economic news has many selling the pound.