The currency trading session started with the euro managing to improve to the highest levels it has been at so far this year. The US dollar dropped in value against the common currency as expectations that there are measures in place to deal with the circumstances occurring in Greece are in place. Investors in European banks also seemed to be available, reducing the risk to the investors overall. For the day, the euro moved to trade at US $1.3021 by the end of the North American trading session on Monday. This is up from the US $1.2936 position it was at the close of business on Friday. The US dollar index moved from 80.148 at the close of business on Friday to 79.777 by the end of Monday. The US dollar moved from Y 76.90 on Friday to Y 77.02 by the close of business on Monday.
On Tuesday, the euro pared its losses but remained close to the psychological point of US $1.30. Investors were watching and waiting for news out of the Federal Reserve in the US, the first meeting for the year, prior to making their move. The euro did fall during the day as anticipation for a Greek deal seemed to fade throughout the day. However, investors did not believe that the needs for the need were too high and thus a better put together deal may be in the works. The euro moved to trade at US $1.3026 for the day. The US dollar index moved to trade at 79.853 at the close of business. The US dollar moved to buy Y 77.74 by the end of the day.
The Wednesday currency trading session saw the US dollar fall to the lowest point of the year after the Federal Reserve information came out. The Federal Reserve indicated during the day that it would keep key lending interest rates very low for the long term, even as long as more than a year more than what it previously stated. This did not bode well with investors who hoped to see improvements. The US dollar index moved to 79.563 by the end of the day. The euro moved to US $1.3091 as well. The US dollar bought Y 77.78 by the end of the session.
The US dollar improved during the day's session. It improved from seven week lows against most major currencies. This came in after numerous economic reports out of the US provided more worry for investors. The US dollar index moved to trade at 79.416 by the end of the day. The euro traded at US $1.3107. The US dollar bought Y 77.48.
The currency session for the week saw the US dollar lose its ground on Friday. The euro did find investors after information provided a more clear picture of what is happening in Greece and ensured that there were investors available to help the country. Greek government debt seemed to be under control. US economic conditions, though, hurt traders as information showed the economy grew at a slower pace than predicted. The US dollar index would close the week at 78.854. The euro moved to close the week at US $1.3216.
]]>
During the Monday trading session, all eyes were on the movements of the euro. The currency did manage to hold onto is ground even though a number of downgrades worried investors. The euro was at risk due to the continued concerns about Greece potentially defaulting on its loans. It was also at risk as the Standards and Poor's credit agency downgraded nine of the euro zone countries to lower credit ratings. The euro moved from US $1.2677 in late North American trading on Friday to US $1.2673 for the day. The US dollar bought Y 76.75 from the Y 76.9 it was at on Friday. The US markets were closed in observance of a national holiday.
At the start of the Tuesday trading session, the US dollar took a hit. The dollar fell as improved data out of China and Germany helped to encourage investors to take on some of the risk they were avoiding. As a result, the US dollar index moved the current to trade at 81.175 for the day. The euro managed to improve to US $1.2728 for the day as well. The economic good news helped to strengthen the mood of the markets globally. The US dollar bought Y 76.84 for the day as well.
The Wednesday session saw more of the US dollar falling. This time, the International Monetary Fund was behind the movements in the market. The IMF reported to drastically boost its lending ability. More so, there was a sense of optimism in the markets that Greece, which many investors worry is likely to default on its loans, would not in fact do so. Negotiations were occurring throughout the market day. The euro moved to trade at US $1.2852 by the end of the session. The US dollar index showed the currency at 80.540 by the end of the day. The US dollar managed to buy Y 76.79 for the day.
Thursday continued the week's advances of the euro. During the day, the euro managed to reach the psychological point of US $1.29 during the session on Greece optimism. Investors were also happy that there were buyers available to buy French and Spanish debt. This helped to encourage investors to move into more risky investments. The euro moved to buy US $1.2942 for the day. The US dollar index moved the currency to trade at 80.198 by the end of teh North American trading session. The US dollar bought Y 77.17.
By the end of the Friday trading session, the euro managed to improve again. The US dollar ended the week lower on improved sentiment throughout the market. Investors did adjust their positions heading into the weekend and the expectation that there would be a solution for Greek's impending financial stress. The euro closed the week at US $1.2936. The US dollar index would end at 80.148 for the week. There is no doubt that investors continued to be nervous about movements in the market especially with the Greek debt. The US dollar bought Y 76.90 as well.
]]>
The currency market started the week with the dollar falling. Investors reversed bets against the euro after the currency fell last week. The previous week, it fell to a 16 month low versus the US dollar. Investors hoped to see the currency improved this week. The US dollar index moved the currency from 81.47 at the end of Friday in North American trading to end the Monday session at 81.001. It did manage to get as high as 81.47 during the day's trading prior to retreating. The euro moved from US $1.2725 on Friday to US $1.2765 by the close of business on Monday. The US dollar bought Y 77.01 on Friday and, by the end of Monday's session bought Y 76.87.
The Tuesday trading session saw the US dollar fall some against the commodity linked currencies. It fell against the euro as well as the Austrian dollar and the Swiss frank. The US dollar index slipped to 80.864 for the day. Against the euro, the US dollar struggled as well. It moved to trade at US $1.2778. The US dollar bought Y 76.83 against the Japanese currency. With the Swiss National Bank's chairman abruptly resigning, investors were worried about the outcome.
The Wednesday session saw the US dollar coming back up and reclaiming some of the loss it saw on Tuesday. Investors turned away from the euro, and that meant that it fell back under the psychological point of US $1.27 for the day. Investors were waiting and watching to see what the European Central Bank meeting would play out, as well as the European auctions in place. The US dollar index moved to 81.313 by the need of the session. The euro moved to US $1.2661 by the end of the day. Against the Japanese yen, the US dollar bought Y 76.87.
The Thursday trading session saw the US dollar fall against the euro during the day. It would manage to fall to the lowest level that the currency has been at in more than a week. This occurred after the European Central Bank's President helped to fuel confidence during the trading day. President Mario Draghi said he was confident about the effectiveness of the long term lending operations the bank had taken under. This pushed the US dollar index to 80.799 by the end of the day. The euro traded at US $1.2826.The US dollar bought Y 76.77 for the day.
On the final day of the week, the euro fell more than a full percentage point. Credit rating agency Standards and Poor pushed Austria and France's triple A rating lower. It also cut into seven other euro zone sovereign ratings lower during the day, including Italy, Portugal, Cyprus, and Spain. This pushed the euro lower to US $1.2677 during the day. For the week, the euro was down by 0.4 percent. The US dollar index moved to 81.459 for the day. This pushed the dollar index higher by .03 percent for the week. The US dollar bought Y 76.90 by the end of the day's trading.
]]>To start the year, the euro took a hit. The trading for the day remained light as much of the world continued to celebrate the holidays. A key manufacturing report indicated that the euro zone region saw a pull back in manufacturing for the month, making it the fifth straight month of such a decline. The euro moved from US $1.2296 at the end of Friday's trading session to US $1.2931 by the end of Monday's session. The US dollar moved to trade at Y 76.90 which is only a slight change from Y 76.99 from Friday's session. For 2011, the US dollar index moved the current up 1.5 percent.
On Tuesday, the US dollar took a hit. As a result of positive economic data, currency traders moved to the risk of the euro to earn a payout. The euro managed to push upwards to above US $1.30 as a result. The improved economic data came from Asia and Europe, as well as the US. The euro managed to move up to US $1.3064 for the day. The dollar index pushed the currency to 79.591 for the day, a drop of about .8 percent. The US dollar moved to buy Y 76.68 by the end of the Tuesday trading session.
As a reverse for the day, the US dollar improves. Investors move away from risk as continued concern about euro zone debt comes to the top again. Spain brought concern to the table as a report indicated that the country may be looking for financial aid. As a result of the renewed concern about debt in the region, the US dollar index moved to 80.119 by the end of the session. The euro fell to US $1.2939 for the day. The US dollar moved to purchase Y 76.73 by the end of the day's trading.
The euro continues to struggle on Thursday. It fell below US $1.28. It has not been that low against the US dollar for the last 16 months. The US dollar index pushed the Us dollar higher to one year highs against its major rivals. This came after concerns about the European bank capital remerged and continued to push investors away from the perceived risk of the euro. The euro moved to buy US $1.2775 for the day. The US dollar index moved to 80.925 for the day. The US dollar purchased Y 77.10 for the day, up for the day's trading.
To end the week, the US dollar hit a one year high after information about payrolls came out. The euro fell back again for the week. The report out of the US indicated that the US economy added more jobs than was expected to occur in the month of December. The euro fell to US $1.2725 for the day, significantly under the psychological level of US 1.30. The US dollar index moved to 81.244 for the day. The US dollar moved to buy 77.01 for the day.
]]>The Monday session after the Christmas holiday had light trading. However, the euro did manage to move slightly higher during the day. This happened during the early in the day session in East Asian through the afternoon hours there. Since most markets were closed for the holidays, trading overall was light. The US dollar was slightly weaker by the end of the session against most of its rival currencies. The euro started the day at US $1.3047 from the Friday trading session in North America and moved to trade at US $1.3059 by the end of the day's trading. The US dollar bought Y 78.03 at the close of business on Friday but moved to trade at Y 77.99 by the end of the day on Monday.
The Tuesday trading day saw the US dollar fall again. This came as information out as reports indicated that US consumer confidence was strong. This pushed the US stock market higher as well. However, trade during the day's session remained low, due to the holiday week. The US dollar index moved the currency to 79.792 by the end of the trading in North America. This was a drop of about .03 percent for the day. The euro moved to trade at US $1.3074 for the day. The European markets remained closed for the day, though. The US dollar bought Y 77.85 for the day.
The Wednesday trading session saw the US dollar move up for the day. The euro managed to fall to the lowest level it has been at since September of 2010. The stock market in the US also lost significantly. All of this stems from the European Central Bank's release of data. The US dollar index moved to trade at 80.526 for the day. The euro slipped to US $1.2938 for the day. The US dollar bought Y 77.95.
Thursday brought with it more improvement of the US dollar as investors turned away from risk. The US dollar pushed the euro to the lowest level it has been at since 2000 against the Japanese yen as well. The euro did manage to recover from the lowest level it has been at in 11 years against the yen, but continued fear in the markets plays a role. The euro moved to trade at US $1.2949 for the day. The euro moved to trade at Y 100.54. The US dollar index moved the currency to 80.425 for the day. Much of the loss comes from data about borrowing costs falling to euro-era highs. The upswing in the US economy continues to help investors, though.
The Friday session saw investors moving to buy the US dollar. The euro fell 3.4 percent for the year against the US dollar. The Japanese yen continued to be the strongest role player in the market in terms of gains throughout the year. However, the US dollar index moved the US dollar up 1.6 percent for the year. It also gained in 2010, with the dollar closing out at 80.289 for the day. The euro moved to trade at US $1.2996 by the end of the session. The US dollar feel to Y 76.99 for the day.
]]>
The Monday trading session saw the US dollar improve during the day against most rival currencies. The euro did fall. This came after the European Central Bank's president made comments that were less than impressive. The European Union finance minister did not provide any good outlook for the euro zone that was considered aggressive enough. As a result, the US dollar index moved from 80.126 at the close of business on Friday in North America to 80.374 for the day on Monday. The euro moved to trade at US $1.3030 at the close of business on Friday and moved to trade at US $1.2997 by the end of the day on Monday. The Japanese yen moved from Y 77.82 at the close on Friday to Y 78.03 by the end of the day on Monday.
The Tuesday session brought with it some improvement for the euro. The US dollar fell during the session as investors were more encouraged by positive housing data out of the United States. This helped to bolster the numbers for stocks and commodities, which in turn pushed the currency markets towards more risk. Risk seemed like a good thing during the day's trading session. The US dollar index moved to trade at 79.871 by the end of the session. The euro moved to trade at US $ 1.3079 by the end of the day's trading. The US dollar bought Y 77.90 by the end of the day.
More risk aversion occurred during the Wednesday trading session as the euro took a step back from the increases it saw the previous day. The European Central Bank announced during the day that the first long term lending program brought with it strong demand from euro zone nations, indicating how much trouble numerous nations in the region are struggling under. The euro moved to trade at US $1.3198 for the day by the close in New York. The US dollar index moved to trade at 79.999 by the end of the trading session. The US dollar bought Y 78.10 by the end of the day.
The day's focus was on the euro which managed to hold near the psychological point of US $1.30 during the day. The US stocks improved and this pushed currency investors to take on a more positive outlook, taking on some of the risk in the market. The euro managed to move to US $ 1.3053 for the day. The US dollar index moved to trade at 79.929 by the end of the day. The US dollar bought Y 78.19 as well.
Risk gripped the market on Friday. The US dollar moved up after Italy's 10 year yields topped at seven percent. This made many investors worry that the country was in need of a financial bailout as well. However, there was some speculation that the markets were simply under volume due to the holidays. The US dollar index closed the week at 79.990. The euro moved to trade at US $1.3047. The US dollar bought Y 78.03.
]]>