- Analytics
- News and Tools
- Market News
- Forex: Thursday’s review
Forex: Thursday’s review
Yesterday the euro fell as Germany’s top economic institutes cut their 2012 forecast for growth by more than half as the spiraling debt crisis weighs on banks and spending. Growth will slow to 0.8 percent next year from 2.9 percent in 2011, according to a bi-annual independent report commissioned by the German government. In April, the group forecast 2 percent economic growth for 2012. But later the euro gain versus the dollar after Slovakia approved Europe’s enhanced bailout fund, completing ratification across the currency region.
The dollar and yen advanced versus most of their major counterparts after JPMorgan Chase & Co. reported a decline in profit and China’s export growth slowed, weakening stocks and spurring demand for a refuge.
The yen rallied after yesterday’s slide against the dollar as investors pared bets the Bank of Japan will introduce additional measures to weaken the currency.Japan’s currency tends to appreciate during economic and financial turmoil because the nation’s current-account surplus makes the nation less reliant on foreign capital.
EUR/USD: yesterday the pair fell.
GBP/USD: at first half of day the pair decreased, but restored later.
USD/JPY: yesterday the pair was under pressure.
On Friday main focus will be EU trade balance and HICP at 0900GMT and US retails sales at 1230GMT.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
