Loonie slightly higher in currency trading

The Canadian dollar is slightly higher in forex trading, moving a little bit higher on the strength of a weaker US dollar. The loonie is gaining as US dollar sinks under its bad news.

Greenback pressured in currency trading

US dollar is lower in forex trading, heading down as concerns about the economy once again take center stage.

Greenback lower in currency trading

Jobless claims are higher in the US, rising sharply as concerns about the economy come to the fore. Jobless claims rose to 377,000 in the week ending January 21, 2012, and that is causing some concern.

Sterling drops against 17-nation currency

UK pound is lower against the euro in forex trading today, dropping as concerns about the British economy acquire prominence. The British economy, which appears to be struggling, stands in contrast to the eurozone economy, led by a Germany that appears to be seeing improvement.

Aussie gains in currency trading

The Aussie is rising today, thanks to newfound popularity with the Russians. The Russian central bank deputy minister announced that the Australian dollar will be used as a reserve currency going forward.

The dollar is ready to rally if financial fear rises and panic replaces the stimulus-drowned stability that has anchored the market these past weeks. To build serious demand for a currency that exemplifies liquidity and safety, we needed a catalyst to tip the tenuous balance between central bank guarantees and impending recession.

• US Dollar Ready to Break to 12 Month Highs if Euro Collapses
• Euro Falls on France, Italy, Spain Ratings - Further Declines Likely?

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