Forex News Recap (12/2) – No Bond Buying Program from ECB, Risk Appetite Supports Higher Yielders

The Euro fell against its rivals following Trichet’s press conference in which the ECB did not provide a new plan to buy more sovereign debt. With equities higher and risk appetite continuing into a second session, we saw the EUR/USD rebound after some knee-jerk selling. Commodity currencies were stronger, with the AUD and CAD breaking some short term levels.

Daily Forex News Recap (10/28): Dollar Softens as Risk Appetite Returns on Euro Data & Equities

The US Dollar slid today to the Euro and higher yielders as risk appetite returned to currency markets. The euro-zone’s gauge of overall economic sentiment rose to a 34-month high and positive earnings reports from European blue-chip companies added steam to the rally. Euro-zone fundamentals are brightening which places the ECB at odds with the Fed’s QE story – which is acting as a weight around the US Dollar. EURUSD, eur/usd, News Provided by Chief Market Analyst Nick Nasad