Trading remains choppy for the euro today as traders and investors look for direction. Everyone is waiting for a Greek debt deal to be reached, and a certain amount of concern is present that nothing has been signed yet.
Many expect a Greek debt deal to be done today, and that means that there has been some demand for high beta currencies in earlier trading. Now, though, the US dollar seems to be gaining some ground as some of that risk appetite fades and the Greek situation looks a little less certain.
Aussie is finding support in forex trading today as Forex traders scramble to make up for the fact that they had priced in a 0.25% cut to the interest rate. Instead of cutting, though, the Reserve Bank of Australia kept rates steady at 4.25%.
Euro is holding steady right now as Forex traders wait for news about what’s next for Greece. Financial markets around the world are waiting to see whether or not Greece will accept the austerity measures that are required for a bailout.
Japanese yen is heading higher today as concerns about Greece once again take center stage. While Greek Prime Minister Lucas Papademos insisted that some progress was made over the weekend, he also pointed out that there are still some conditions left.
US dollar is paring some of its earlier gains against the euro as risk appetite improves. However, greenback still has the upper hand against European currencies right now as the data coming out of the United States seems to indicate that the economic recovery could speed up.
Euro is lower today, thanks to disappointing news coming out of the eurozone. The 17-nation currency is pulling back on falling retail sales and a disappointing bond auction in Portugal.
Canadian dollar is edging higher on market uncertainty today, gaining a bit even as risk aversion creeps into currency trading. Loonie does remain near parity with the greenback, though.
Euro has been showing strength against the US dollar recently, but uncertainty is creeping into the markets. As a result, risk aversion is making an appearance, and the euro is heading lower against the US dollar, as well as heading lower against the Japanese yen and even the Great Britain pound.
Risk appetite is coming to the Forex market, sending high beta currencies higher. And, normally, this would mean that the US dollar would also be higher against the Japanese yen. Today, though, the yen is higher against the greenback.
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1 year 13 weeks ago
1 year 13 weeks ago