Canadian Dollar Loses Ground in Forex Trading

Loonie lower in currency trading

The U.S. dollar is gaining against many major currencies after falling short earlier. The Canadian dollar is losing some ground in forex trading after seeing success against the greenback.

Loonie has been doing well in currency trading, advancing quite rapidly. However, some forex traders believe that the Canadian dollar was overbought. As a result, the loonie is going through a correction.

Also helping the U.S. dollar in forex trading right now is the fact that there is some risk aversion on the latest news about the possibility of a Greek default. As a result, not even slightly higher oil prices have been able to help the Canadian dollar in forex trading.

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Posted in: Forex News

Greek Austerity May Not Be the End of the Problems

Euro zone gets boost from Greek austerity vote

With the way open for another bailout for Greece, the euro zone is getting a boost. The euro is higher in forex trading on the currency market, helped by increased risk appetite.

Between the Greek austerity vote, better news out of the U.S. in terms of home sales, and expectations that China will help out, the euro is doing pretty well.

However, it is important to realize that this isn't over yet. Even with the approval of the Greek government for austerity measures, the solution might not be found. There are still other countries in the euro zone that may face the some problems, and there has to be a way to continue supporting Greece, rather than all of these one-off packages that throw the region -- and the world -- into uncertainty for weeks at a time.

For now, though, crisis seems to be averted. The euro can gain while eyes turn to the U.S. and its debt ceiling and budget issues.

Read more »

Posted in: Forex News

Greek Austerity May Not Be the End of the Problems

Euro zone gets boost from Greek austerity vote

With the way open for another bailout for Greece, the euro zone is getting a boost. The euro is higher in forex trading on the currency market, helped by increased risk appetite.

Between the Greek austerity vote, better news out of the U.S. in terms of home sales, and expectations that China will help out, the euro is doing pretty well.

However, it is important to realize that this isn't over yet. Even with the approval of the Greek government for austerity measures, the solution might not be found. There are still other countries in the euro zone that may face the some problems, and there has to be a way to continue supporting Greece, rather than all of these one-off packages that throw the region -- and the world -- into uncertainty for weeks at a time.

For now, though, crisis seems to be averted. The euro can gain while eyes turn to the U.S. and its debt ceiling and budget issues.

Read more »

Posted in: Forex News

Aussie Struggles in Currency Trading

Australian dollar lower in forex trading

The Aussie is struggling in currency trading on the FX market today, moving lower as concerns about the global economy surface -- and as gold prices drop.

Fears about what is happening in the euro zone are weighing on the Aussie. This is a little odd right now, considering the fact that the euro is rallying right now as forex traders wait for the results of a vote on austerity measures from the Greek parliament.

Indeed, other high beta currencies, including the pound and the euro, have moved higher in forex trading as the U.S. session has opened. Aussie is a bit left behind right now as many traders wait to see what's next.

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Posted in: Forex News

Aussie Struggles in Currency Trading

Australian dollar lower in forex trading

The Aussie is struggling in currency trading on the FX market today, moving lower as concerns about the global economy surface -- and as gold prices drop.

Fears about what is happening in the euro zone are weighing on the Aussie. This is a little odd right now, considering the fact that the euro is rallying right now as forex traders wait for the results of a vote on austerity measures from the Greek parliament.

Indeed, other high beta currencies, including the pound and the euro, have moved higher in forex trading as the U.S. session has opened. Aussie is a bit left behind right now as many traders wait to see what's next.

Read more »

Posted in: Forex News