The Japanese yen showed some really strong growth against the other Forex most-traded currencies today as the investors favored the Moodys upgrade of the Japans yen debt rating. Despite the weak performance of the Japanese stock market today the countrys currency showed one of the fastest growing day this month against dollar, euro and pound after Moodys news about rating upgrade. It also rose … “Yen Shows Growth on Moody’s Rating”
Month: June 2008
AUD at 25-Year High against Greenback
The Australian dollar reached a record high value since February 1983 against its counterpart from the United States today as the USD slumped and the commodity currencies grew on optimism. The Australias national resource producers climbed up today on the stock market as the traders showed an elevetated optimism in the global economy growth. This boosted the USD-AUD conversion and supported the AUD/USD growth, while … “AUD at 25-Year High against Greenback”
Currency Volatility Down at 2001 Value
The currency market volatility fell to its lowest values since the second quarter of 2001, signaling that the central banks probably wont interfere into the Forex trading to support the U.S. dollar. As the currency swings became less dangerous to the global financial stability, less analysts believe that the European or U.S. central banks will go for a dollar-supporting intervention. The dollar lost more … “Currency Volatility Down at 2001 Value”
NZD Headed for Weekly Loss
The New Zealand dollar continued to lose against other currencies today (except the U.S. dollar) as the economy contracted in the first quarter and the expectations that the central bank will cut the interest rate rose. Although, the New Zealand currency is rising today against the U.S. dollar, its still going down sharply against the yen, euro, and Australian dollars. It will probably end the week in the negative zone against those three currencies. The gross domestic … “NZD Headed for Weekly Loss”
Yen at Record Low against Euro
The Japanese yen reached another record low level against the Eurozone currency today as the ECB prepares to raise rates in July, while Japanese spendings may go abroad to seek the higher yielding assets. The yen continued to fall today after its fastest fall against euro since June 9 after the Federal Reserve left the funds target rate unchanged at 2 percent yesterday, strengthening … “Yen at Record Low against Euro”
USD Falling after FOMC Statement
The U.S. dollar dropped against the euro, pound and yen today after the Federal Reserve left the interest rate unchanged and released a statement showing no substantial signs that the rate can be raised by the end of the year. As the majority of the market analysts expected, the Federal Open Market Committee left the federal funds rate at 2.00 percent at this meeting. The … “USD Falling after FOMC Statement”
Dollar Declines against Euro before Fed
The U.S. dollar declined today against the euro, extending its weekly drop, as the chances for the Federal Reserve to increase the interest rates next week became more slim. The dollar also headed for a weekly loss against the Japanese yen as the weak macroeconomic statistics from the United States made traders believe that the FOMC will leave rates … “Dollar Declines against Euro before Fed”
Swiss Franc Lower after Rate Decision
The Swiss National Bank decided to keep the countrys main interest rate at its 6-year highest value facing the risks of both a higher inflation rate and a slower economic growth. The Swiss franc fell today against the U.S. dollar in the Forex market as 3-month LIBOR target rate was left unchanged at 2.75 percent. It was an expected decision, but some analysts forecasted a possible 0.25 percent increase. … “Swiss Franc Lower after Rate Decision”
Rupee Falls on Oil Demand Speculations
The Indian rupee showed a weakening today at the Forex market as the speculations that the domestic companies will have to buy oil rose in the country. As the commodities prices stopped falling today on the global markets the fears that the companies will have to convert the national currency into dollars to buy the oil pushed the rupee down. It was among the worst performing Asian currencies today. While rupees behavior is seen as closely correlated with the oil prices, it will … “Rupee Falls on Oil Demand Speculations”
Continuous Trading in the Forex market
The Forex market operates 24 hours a day. This is possible since trading happens on all continents. This continuity is unique, and it allows dealers to act without any time limits, to react to any development that occurs in another place on the globe. For some traders who are not experienced, this might be very … “Continuous Trading in the Forex market”