Groupon Now hits 1.5 million deals, outpacing original Groupon

According to the daily-deals provider, the original Groupon platform hit 1.5 million deals sold in 15 months -- three months later than Groupon Now.Groupon Now has gotten off to a good start.(Credit: Screenshot by Jessica Dolcourt/CNET)The original Groupon platform might have set the stage, but Groupon Now has gotten off to an even better start.Groupon today announced that Groupon Now needed just one year to sell 1.5 million deals. The original Groupon...

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Barnes & Noble, Microsoft ink $300M deal on e-reading

The software giant will invest $300 million in a new Barnes & Noble subsidiary, giving it a 17.6 percent equity stake in the company. The Nook digital bookstore will be bundled with Windows 8.Barnes & Noble's Nook devices.(Credit: Sarah Tew/CNET)Barnes & Noble and Microsoft at one time couldn't get along. Now, they're partners.The companies announced today that Microsoft has invested $300 million into a new Barnes & Noble subsidiary,...

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Swedish Krona Declines with Industrial Production

The Swedish krona fell today after a report showed that nation’s industrial production declined significantly more than expected and as risk aversion damped demand for European currencies.Industrial production fell 5.2 percent in February from January, compared to the median forecast of 0.3 percent. Annual decline was 7.1 percent, while an advance by 0.5 percent was predicted by analysts. The krona is also hurt by concerns about the crisis in Europe....

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Crude Oil Prices Drag Ruble Down

The Russian ruble was down today, falling for the third day, as prices for crude oil, the main nation’s export, declined amid concerns about the global economic recovery.Futures on crude oil fell $0.16 to $102.30 per barrel in New York, following yesterday’s decline by 0.8 percent. The ruble depends on the performance of crude as the commodity is the main export good of Russia. Oil was falling on concerns that the global economic slowdown will hurt...

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US Dollar Heads Higher on Safe Haven Demand

US dollar is heading higher as uncertainty in the financial markets creates a demand for safe haven currencies. Greenback is heading higher against the euro and the UK pound. While the pound has been struggling most of today anyway, this development is new to the euro, a currency that had been seeing some strength earlier.Right now, the US dollar is gaining favor as stocks retreat and uncertainty rises. Concerns about the eurozone are leading the...

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Yen Climbs Ahead of Italy’s Debt Auction

The Japanese yen climbed to the highest level in more than a month today before retreating a little as Forex market participants feel uncertain as borrowing costs in European nations rise.The yield for ten-year Italian notes climbed 23 basis points to 5.69 percent yesterday, the highest level since February 17. The yield of Spain’s securities maturing in 10 years reached 5.99 percent yesterday, the highest since December 12. It looks like concerns...

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Euro Heads Higher — For Now

Euro is higher today, gaining as stocks see some improvement, and as risk appetite overall improves. However, even with relief allowing the euro to push through resistance, the 17-nation currency still remains vulnerable, and there are still questions about how well the eurozone can weather more problems.Right now, the euro is getting a boost as the stock markets show some signs of relief. Alcoa earnings in the United States are helping quite a bit...

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Canadian Dollar Gets a Boost from Optimism

Canadian dollar is gaining against the US dollar right now, receiving a boost on general optimism today. Loonie is getting help as investors find optimism after Alcoa earnings, and on the fact that oil prices are heading higher.Yesterday, there was a lot of gloom on the market as concerns about the eurozone overshadowed just about everything. High beta currencies retreated; commodity currencies couldn’t find support. Today, though, that has largely...

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Pound Advances with Retail Sales

The Great Britain pound climbed today after a report showed that UK retail sales grew last month, following a decline in the previous month. The report made Britain’s assets more attractive to investors, who were worried about the economic slowdown in the United Kingdom.British Retail Consortium reported that retail sales were up 1.3 percent on a like-for-like basis in March from a year ago. The increase followed the drop by 0.3 percent in the previous...

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NZD Climbs as Business Confidence Improves, Manufacturing Expands

The New Zealand dollar advanced today, rising for the second trading session, as macroeconomic reports showed that business confidence improved and manufacturing continued to expand, confirming positive developments in the New Zealand economy.New Zealand Institute of Economic Research reported that business confidence index rose from 0 to 13 in the first quarter of 2012. Business NZ manufacturing index was down from 57.7 in February to 54.5 in March,...

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Rand Gains on Fed & ECB Stimulus

The rand rose today, following two days of decline, on signs that the US Federal Reserve and the European Central Bank plan to stimulate their economies, supporting inflow of higher-yielding assets.Janet Yellen, a member of the Federal Open Market Committee, said that the US economy needs stimulus despite signs of recovery:    I consider a highly accommodative policy stance to be appropriate in present circumstances. But considerable...

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US Dollar Remains Lower in Currency Trading

US dollar is lower today, falling as warnings about the slow economic recovery in the United States remain intact. The US dollar doesn’t look as attractive as it did a couple of weeks ago, and disappointing economic data in the United States is only confirming that view.US economic data is showing that recovery continues at a rather slow pace. Last week, initial jobless claims rose to 380,000, once again underscoring the fact that the labor market...

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Swiss Franc Gains, SNB Ready to Maintain Ceiling

The Swiss franc rose today against the US dollar, following gains of the euro. The currency fluctuated against the euro, staying near the cap, but not breaking it.The Swiss National Bank capped the franc at 1.20 per euro last year and the currency has breached the ceiling only once on April 5. Central bank’s interim chief Thomas Jordan assured that the SNB is ready to buy foreign currency in unlimited quantities to maintain the ceiling. Analysts...

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Euro Rises In Spite of New Concerns

Euro is gaining today, even though concerns remain about Spain and other countries in the eurozone with high amounts of sovereign debt. Continued worries about the eurozone are not enough to keep the euro down as Forex traders show disappointment with US dollar policy.Recently, gains for the US economy have led some Forex traders to speculate that the Federal Reserve would move up its timetable for interest rate hikes. This speculation, along with...

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Australia’s Employment Shows Huge Growth, AUD Surges

The Australian dollar jumped today as employment in Australia demonstrated surprisingly huge growth that was about seven times above forecasts, causing speculation that the nation’s central bank will refrain from an interest rate cut.The Australian Bureau of Statistics reported that the seasonally adjusted number of employed persons rose by 44,000 in March from February. That’s compared to the much smaller figure of 6,400 predicted by analysts. Australian...

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Loonie Follows Aussie in Advance

The Canadian dollar jumped yesterday and so far has kept its gains today as stocks and commodities advanced on speculation that the Federal Reserve will maintain its interest rates record low for prolonged time.The Canadian dollar followed the Australian dollar that jumped on very good employment data, dragging commodities and commodity-related assets along. Signs that the Fed is going to maintain its stimulating monetary policy are also good for...

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Dollar Index Rises as Risk Appetite Fades on China

It’s been a wild couple of days in the financial markets, with risk appetite returning to some extent and riskier assets favored. Now, though, risk appetite is fading and the US dollar is gaining ground against other majors as disappointing news from China spurs the search for a safe haven.The US dollar index is on the rise again, heading higher as risk aversion rises. Chinese growth appears to be slowing, and that is dashing the hopes of those who...

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Won Gains as North Korean Rocket Launch Fails

The South Korean won rose today after North Korean rocket launch failed, easing tensions in the region. The overall positive mood on the Forex market also benefited the currency.South Korean politicians were concerned that the rocket launch was a part of nuclear weapon tests and threatened the country. North Korean claimed that the rocket wasn’t nuclear weapon and carried a satellite as a part of celebration for the centennial of state founder Kim...

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Will the Great Britain Pound Strengthen Further?

Great Britain pound is showing weakness against the US dollar right now, but it is higher against the euro — and many think that the pound is likely to continue making gains against the the 17-nation currency in the near future.Sterling is struggling against the US dollar, along with other high beta currencies today. Risk appetite is hard to come by with the latest news out of China encouraging concerns about the global economic recovery. However,...

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Rand Slips as China’s Economic Growth Slows

The South African rand slid today after the government report showed that China’s economic growth slowed in the first quarter of this year more than market participants expected.Chinese gross domestic product grew 8.1 percent in the first quarter of 2012 from a year ago. That’s compared to the 8.9 percent increase in the previous quarter and market expectation of 8.4 percent growth. The Standard & Poor’s GSCI Index declined 0.4 percent. The report...

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Euro Down as ECB Doesn’t Want to Buy Spain’s Debt

The euro fell today as Spanish borrowing costs rose, but the European Central Bank signaled that it’s not going to buy nation’s debt, spurring talks that the debt crisis may spread to Spain.The yield on 10-year Spanish sovereign bond climbed 18 basis points, or 0.18 percentage point, to 6 percent. The cost of insuring against a default in Spain jumped to a record. Klaas Knot, a member of the ECB governing council, said that he doesn’t see a reason...

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Australian Dollar Falls, China to Blame

The Australian dollar fell as signs of economic slowdown in China spooked Forex traders, causing concerns that demand for assets of the South Pacific nations will decline. The currency closed higher against the euro.China’s economic growth slowed, reducing attractiveness of growth-related assets. China is a major trading partner of many commodity-exporting countries, Australia among them.Sue Trinh, a senior foreign-exchange strategist at Royal Bank...

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Second Week of Gains for Yen

The Japanese yen gained for the second week as risk aversion sentiment prevailed on the Forex market, while the Bank of Japan refrained from easing its monetary policy despite its promises. The BoJ left its interest rates and asset-purchase program unchanged for the second time at its meeting on April 10. Such decision left frustrated those traders who expected the Bank...

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China Gives Yuan a Little More Room to Float

For years, other countries have been asking China to let the yuan, also called then renminbi, to float more freely on the currency market. It appears that China is doing that now, with an announcement that the yuan will be allowed to float more freely against the US dollar.China announced that it will allow the yuan to float a little more freely against the US dollar, allowing the currency to move one per cent to either side of the US dollar currency...

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US Dollar Heads Higher on Spanish Concerns

Once again, the US dollar index is heading higher, gaining as concerns about what’s happening in the eurozone take precedence over much else. Greenback is also getting help from the fact that the US economy seems ready to recover better than the eurozone economy right now.US dollar is higher against European currencies today, gaining against the euro and the pound. The economic situation in the United States is showing some improvement, with March...

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Euro Lower Against Many Counterparts

Euro is lower against many of its counterparts today, dropping as concerns about the European debt situation continue to dominate the news. Spain is expected to auction off bonds today, and there are concerns about climbing yields. Additionally, there are expectations of a drop in investor confidence in Germany.Concerns about the eurozone are dominating news today as Forex traders consider that the sovereign debt situation might be contagious. Worries...

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Bank of Canada Comments Send Loonie Higher

Right now, the Canadian dollar is seeing gains against nearly all of its major counterparts as the Bank of Canada comes out sounding a bit hawkish. Loonie is finding support in general risk appetite as well, and receiving some help from higher oil prices.Everything seems to be going right for the Canadian dollar today. The BOC came out and said that putting a stop to stimulus measures might be a priority, and many are taking that to mean that an...

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US Dollar Index Gains as Traders Consider Consolidation

Yesterday’s buoyant tone and risk appetite have receded, leaving the US dollar to log gains against some currencies right now. The dollar index is heading higher, as the greenback gains against some of its major counterparts, especially the euro and the yen.Yesterday, better news out of Europe, combined with an enthusiasm for stocks, led to a lower US dollar. The dollar index dropped below 80 as many traders looked for better yields. Today, though,...

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Japanese Yen Falls on Rumors of Further Economic Stimulus

Japanese yen is heading lower today, dropping against other majors as rumors swirl regarding the possibility of further economic stimulus. The idea that more easing for the yen could be coming is weakening the currency against the dollar and the euro. Kiyohiko Nishimura, a deputy governor at the Bank of Japan, spoke recently, insisting that the Japanese economy needs...

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Euro Weakens as Questions Persist

Euro is weakening today against the US dollar and the UK pound as questions about the economic viability of the eurozone persist. Even though it’s clear that eurozone countries can still sell bonds, investors are asking for higher yields. The continued economic struggle in the eurozone is weighing on the euro.Economic forecasts for the eurozone have the region slowing this year, and some think that a recession could already be underway. With so many...

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UK Pound Gains as BOE Prepares to Wind Down Stimulus

UK pound is seeing gains again today, heading to highs not seen for 19 months against the euro. Sterling is also up against the US dollar as Forex traders look for signs that the BOE is ready to raise rates. With no more quantitative easing in the immediate future, pound is getting a boost, even though the general market tenor is one of risk aversion.The Bank of England recently released the minutes of its last Monetary Policy Committee meeting,...

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Aussie Mostly Soft as Week Draws to a Close

Australian dollar is mostly softer as the week draws to a close. Aussie has been weakened this week by risk aversion and concerns about what’s happening in the eurozone. Also, recently, the news out of China has been somewhat disappointing, and that has been weighing on the Aussie as well, since the Chinese economy is a major support to the Australian economy....

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US Dollar Pulls Back as Risk Appetite Returns

Risk appetite is making a comeback in the markets today, and that is sending the US dollar mostly lower. The dollar index is losing ground, and the greenback is lower against many of the majors, especially the European currencies. With better earnings news out of the United States, and with better news in the eurozone, Forex traders are ready for a little risk.US dollar is pulling back as Forex traders look for better returns, mostly with European...

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Australian Dollar Sinks on Falling PPI

The euro was down today on concerns about the outcome of the presidential elections in France. The report that showed the manufacturing index falling to the lowest level in almost three years also had its negative impact on the currency. Socialist Francois Hollande won the first round of elections, while incumbent President Nicolas Sarkozy was the second. The anti-euro...

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.Australian Dollar Sinks on Falling PPI

The Australian dollar slumped today as the unexpected decline of producer prices in the first quarter of this year led to speculation that Australia’s central bank will decrease its interest rates on the next monetary policy meeting.The government report showed today that Australia’s Producer Price Index fell 0.3 percent in the first quarter of 2012 from the previous three months. The report frustrated analysts who anticipated the index to accelerate...

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US dollar is gaining today on the Forex market as traders look for safe haven. Uncertainty is causing problems, and that is prompting traders to look to capital preservation and stability. Greenback is backed by the most stable taxpayer base in the world, so it’s no surprise that it is on the rise today. For the most part, US dollar is higher as traders express uncertainty about what is happening in Europe. European manufacturing contracted in April, as shown by the preliminary composite PMI for the eurozone. The news triggered concerns about eurozone economic growth and resulted in euro selling against the US dollar. Also not helping matters is the possibility of an early general election in the Netherlands (due to budget disagreements) and a runoff in France, with Nicolas Sarkozy in second place. With all this uncertainty, Forex traders are turning to low beta currencies like the US dollar and the Japanese yen. Dollar is gaining the upper hand as traders recognize that the economy is in better shape than the eurozone economy, and as all eyes remain on the eurozone sovereign debt situation. At 14:12 GMT EUR/USD is down to 1.3121 from the open at 1.3185. GBP/USD is down to 1.6093 from the open at 1.6124. USD/JPY is also lower as the yen gains the upper hand: 81.1560 down from the open at 81.5165.

US dollar is gaining today on the Forex market as traders look for safe haven. Uncertainty is causing problems, and that is prompting traders to look to capital preservation and stability. Greenback is backed by the most stable taxpayer base in the world, so it’s no surprise that it is on the rise today.For the most part, US dollar is higher as traders express uncertainty about what is happening in Europe. European manufacturing contracted in April,...

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US Dollar Gains on Safe Haven Demand

US dollar is gaining today on the Forex market as traders look for safe haven. Uncertainty is causing problems, and that is prompting traders to look to capital preservation and stability. Greenback is backed by the most stable taxpayer base in the world, so it’s no surprise that it is on the rise today.For the most part, US dollar is higher as traders express uncertainty about what is happening in Europe. European manufacturing contracted in April,...

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Traders Shun Risk on French Elections, Loonie Weakens.

The Canadian dollar fell against the US dollar and the Japanese yen today on concerns about the French elections. The currency trimmed its losses, but remains below the opening price for now. The loonie rose versus the euro.Risk aversion prevails in the Forex market today as the presidential elections in France make investors concerned about the futures of the eurozone. There are also plenty of other reasons to worry about Europe, but France is currently...

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Pound Goes Higher vs. Euro as Future of Europe Still Uncertain

The Great Britain pound rose against the euro and erased its losses versus the US dollar as fears of Europe’s troubles drove investors to the relative safety of the UK currency. The sterling retreated a little against the greenback today and continued to fall versus the Japanese yen.The elections in France spooked Forex traders and made them search for a refuge. The possibility of early elections in Netherlands added to concerns. Some of market participants...

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Traders Sell Won in Favor of Dollar on European Politics

The South Korean won fell today as concerns about the political situation in Europe caused traders to sell riskier assets of Asian nations in favor of safer ones, including the US dollar.Current French President Nicolas Sarkozy lost the first round of presidential elections, while the anti-euro National Front had unexpectedly high support of voters. Dutch Prime Minister Mark Rutte offered to step down yesterday as his attempts to implement austerity...

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Pound Goes Higher vs. Euro as Future of Europe Still Uncertain

The Great Britain pound rose against the euro and erased its losses versus the US dollar as fears of Europe’s troubles drove investors to the relative safety of the UK currency. The sterling retreated a little against the greenback today and continued to fall versus the Japanese yen.The elections in France spooked Forex traders and made them search for a refuge. The possibility of early elections in Netherlands added to concerns. Some of market participants...

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Traders Sell Won in Favor of Dollar on European Politics

The South Korean won fell today as concerns about the political situation in Europe caused traders to sell riskier assets of Asian nations in favor of safer ones, including the US dollar.Current French President Nicolas Sarkozy lost the first round of presidential elections, while the anti-euro National Front had unexpectedly high support of voters. Dutch Prime Minister Mark Rutte offered to step down yesterday as his attempts to implement austerity...

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GBP/USD Higher as Consumer Confidence Improves

The Great Britain pound rose today against the US dollar after a report showed that confidence of Britons unexpectedly improved last month, muting speculations about quantitative easing from the Bank of England. The currency was down against the Japanese yen.Nationwide Building Society reported that the index of consumer confidence rose to 53 in March from 44 in February. The median forecast was 42. The report warned that the improvement of sentiment...

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Euro Rangebound in Forex Trading

Euro is mostly rangebound today, making small gains against the US dollar, after a Dutch bond auction proved reasonably successful. The euro has been struggling lately due to concerns about the political stability of eurozone countries, as well as continued worries about Spain.Earlier, a bond auction in the Netherlands was deemed a success. There had been some questions about the bond auction, since the resignation of Prime Minister Mark Rutte and...

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Japanese Yen Mixed Today

Japanese yen is mixed today as Forex traders look for direction. There is a lot to think about today, in terms of news and forecasts, and currencies are part of the confusion. Yen has slipped against the euro after choppy trading, but is higher against the pound and the dollar.Japanese yen is down against the euro, which is gaining ground on the enthusiasm surrounding a solid Dutch bond auction — in spite of the recent resignation of Mark Rutte and...

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Aussie Goes Down as CPI Growth Below Expectations

The Australian dollar fell today as a government report showed that nation’s consumer prices rose in the last quarter far slower that was anticipated by market analysts, triggering speculation about an interest rate cut.Australia’s Consumer Price Index rose 0.1 percent in the first quarter of 2012, while much bigger growth by 0.7 percent was predicted by economists. The trimmed mean CPI (core CPI) increase 0.3 percent, while forecasters said that...

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Rand Gains for Second Day on European Bonds & US Corporate Profits

The South African rand gained today for the second day after yields on European bonds fell, easing nervousness about Europe’s troubles, and as US corporate profits were above forecasts.Falling yields for Spanish, Italian and Dutch bonds gave investors hope that Europe may yet emerge from its financial crisis. Apple reported that it almost doubled its profit in the second fiscal quarter as demand for iPhone grew in China. All in all, market sentiment...

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Pound Falls as GDP ShrinksThe Great Britain pound fell today after a government report showed that the UK economy unexpectedly declined in the first quarter of this year, reducing appeal of the nation’s currency. Britain’s gross domestic product dropped 0.2 percent in the first quarter of 2012, following the drop by 0.3 percent in the previous quarter. Traders were frustrated as analysts predicted a 0.1 percent increase. Gross value added grew 0.2 percent in February on an annual basis, while an advance by 0.6 percent was predicted. The worse-than-expected data added incentive for the Bank of England to ease its monetary policy and reduced demand for the pound. Improving sentiment about the situation in Europe was also negative for the UK currency. GBP/USD was down from 1.6142 to 1.6085 and GBP/JPY dropped from 131.23 to 130.57 as of 9:21 GMT today.

The Great Britain pound fell today after a government report showed that the UK economy unexpectedly declined in the first quarter of this year, reducing appeal of the nation’s currency.Britain’s gross domestic product dropped 0.2 percent in the first quarter of 2012, following the drop by 0.3 percent in the previous quarter. Traders were frustrated as analysts predicted a 0.1 percent increase. Gross value added grew 0.2 percent in February on an...

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US Dollar Mostly Weaker on Improved Sentiment

US dollar is mostly weaker as improved sentiment helps boost other currencies today. Concerns about the global economy, and about Europe, are fading a little bit, and that is helping other currencies against the US dollar. Greenback is not needed as a safe haven, and that is resulting in gains for a few other currencies.An interest rate decision is expected from the Federal Reserve today. Many expect that the benchmark Fed Funds rate will remain...

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Canadian Dollar Receives Boost on Better News

Canadian dollar is getting a boost today, thanks to better sentiment in the financial markets. Loonie is heading higher on better earnings news, as well as reduced fears about what’s next for the eurozone.Loonie is heading higher today, thanks to a jolt from Apple. AAPL earnings are helping market sentiment, as well as adding to a growing list of companies whose Quarter 1 earnings beat expectations. The good news is helping many high beta currencies,...

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