forexnews2017

Franc Rises vs. Euro, Breaks Ceiling

The Swiss franc broke thorough the cap against euro for the first time it was introduced half a year ago. The currency fell against the US dollar for the fourth consecutive trading session.
The franc rose past the ceiling of 1.20 versus the euro for the first time the Swiss National Bank introduced it in September last year. It was no surprise to market analysts as the currency was steadily rising since the initial slump after the introduction of the cap. All previous interventions of the SNB were unsuccessful and it was just a matter of time before the current one would fail. Saying that, the introduction of the ceiling was the most successful attempt to intervene, for now.

Spanish Yields Rise, and the Euro Falls

9:37 PM Euro

As concerns about the Spanish debt situation continue, and as worries about what’s next for the eurozone resurface, the euro is heading lower. The 17-nation currency is struggling against other major currencies today.

One of the biggest worries right now is that Spain will not be able to stick to its austerity budget, meeting its targets. Due to these concerns, it’s more difficult to sell bonds to investors. Higher yields are being offered, and that is an indication that there might be troubles down the road.

Mexican Peso Declines as Spanish Debt Auction Makes Traders Concerned

9:35 PM Mexican Peso

The Mexican peso declined today for the second day as the negative impact of concerns about the eurozone, caused by the Spanish debt auction, overshadowed the positive effect of improving employment in the United States.

US Dollar Index Rises Today

9:33 PM US Dollar

US dollar index is gaining today, heading higher as a combination of risk aversion and better news in the United States help boost the greenback. Worries about the eurozone are sending Forex traders to safe havens, while the better news in the United States is helping cement some of the gains.

Canada’s Employment Improves Beyond Expectations, Loonie Profits

9:31 PM Canadian Dollar

The Canadian dollar climbed today, erasing earlier losses against the Japanese yen, as Canada’s employers added much more jobs than was predicted by analysts and as the unemployment rate unexpectedly dropped.

Franc Fluctuates Near Ceiling

9:29 PM Swiss Franc

The Swiss franc was struggling today as it nears the ceiling set by the Swiss National Bank, testing the resolve of interim Chairman Thomas Jordan to keep the policy of making the currency weaker.

The Swissie has breached the cap of 1.20 francs per euro yesterday, but retreated back below the ceiling. It was the first time the franc reached the cap since it was introduced in September last year. Today, the currency fluctuates near the cap, but didn’t reach as for now. The franc was up against the US dollar as US non-farm payrolls were somewhat disappointing.

Dollar Harmed by Worse-Than-Expected Non-Farm Payrolls

9:28 PM US Dollar

The US dollar weakened today as non-farm payrolls came out somewhat disappointing, increasing prospects for a next round of quantitative easing by the Federal Reserve and reducing appeal of the greenback.

Euro Mixed On Remarks from Mario Draghi

9:26 PM Euro

Euro is mixed today, dropping against the UK pound, but rising against the US dollar. The economic news today is offering a little uncertainty, and resulting in a degree of choppiness in trading.

Earlier, Mario Draghi, president of the European Central Bank, said that the fear of inflation was high in the 17-nation currency zone. This news came as a surprise to many, who had hoped that the ECB would take steps to stimulate the economy in the face of a possible eurozone recession. Now, though, it appears that this is not likely an option. ECB is likely to keep things the same, in order to battle inflation.

UK Pound Takes the Upper Hand

9:25 PM Great Britain Pound

UK pound is higher today, gaining as things take a turn toward the positive. The news that stimulus is unlikely to come in the eurozone is helping the pound against the euro, and disappointing news in the United States is helping the pound against the US dollar.

Sterling is higher against the euro today, thanks to remarks from Mario Draghi to the effect that inflation remains a problem in the eurozone. It seems unlikely that the ECB will engage in stimulus, and the United Kingdom appears to be making a recovery — even though it’s a very slow one.

Canadian Dollar Slides on US Payrolls & European Debt Problems

9:22 PM Canadian Dollar

The Canadian dollar slipped as US nonfarm payrolls disappointed Forex market participants, rising far less than was expected, and on reemerging concerns about the debt problems in Europe.

US nonfarm employment advanced by 120,000 jobs in March. That’s not a bad figure by itself, but it’s significantly below the market expectations of 207,000. On the bright side, the increase in the preceding month was revised upwardly and the unemployment rate unexpectedly went down from 8.3 percent to 8.2 percent. Unfortunately for riskier assets, traders paid more attention to the negative part of the report, making them prefer safety over higher yield.