Euro is slipping today, heading lower as data indicates that the eurozone most likely slipped into recession during the third quarter. Also weighing on the euro is the continued efforts by Spain to put of the inevitable before it finally asks for aid.
Euro is getting a bit of a boost today, heading higher as optimism about Spain becomes the focus today. Also helping matters for the euro against the US dollar is the continued strength of gold, thanks to its use as an inflation hedge.
Euro is pulling back a bit today, consolidating recent positions and looking for a solid level of support. The main concern right now centers around what’s happening with embattled eurozone countries.
Euro is seeing slight gains today, heading a little higher against the US dollar. For now, the gains are somewhat limited, since trading is thin. With US markets closed for the Labor Day holiday, it is little surprise that most currencies are rangebound right now. Euro, though, is looking to eke out some gains today.
Japanese yen is back in demand as a safe haven as concerns about what’s happening in Europe weigh on high beta currencies. Once again, equities around the world are dropping as investors worry about what’s next for the eurozone. Yen is in demand as Forex traders look for a safer currency.
Euro is higher today, even though there has been further economic contraction in the eurozone. The fact that the eurozone appears to be moving toward recession isn’t holding the euro back today as Forex traders consider disappointing US economic data, and look for clues that European leaders and the ECB are really ready to take action on the financial crisis in the eurozone.
US dollar is heading higher today, gaining as risk aversion rises, and concerns about the future of the eurozone dominate world markets. Greenback is getting a boost as a safe haven as Forex traders shun high beta currencies.
Japanese yen is rallying today, gaining against high beta currencies as uncertainty about the markets sets in. Yen is gaining as better news in Japan is balanced against efforts at economic stimulus from other economies.
UK pound is struggling today, heading lower against its major counterparts. There is a lot weighing on the pound, from the fact that the London Olympics have failed to support home prices, to speculation that the yuan will undergo a great deal of depreciation during the rest of this year and possibly next year.
Japanese yen is mixed today as Forex traders look for direction. There is a lot to think about today, in terms of news and forecasts, and currencies are part of the confusion. Yen has slipped against the euro after choppy trading, but is higher against the pound and the dollar.
