The measures proposed by the U.S. government to support the national financial system and the optimism that followed the announcement of Obamas economic team caused the U.S. dollar to decline against the euro this week as the money risks decreased world-wide. The U. S. dollar is currently heading for the second negative week against the euro and the British pound and for … “Dollar to Post Weekly Decline against Euro”
Month: November 2008
Thai Baht Declines on Political and Civil Crisis
The Thai baht continued its decline against the U.S. dollar today and touched its lowest level in the last 21 months as the political protests and the civil unrest raged through the country. The political turmoil in the country is caused by the demands of the opposition and the military leaders for the current Prime Minister Somchai Wongsawat to resign. He still rejects these … “Thai Baht Declines on Political and Civil Crisis”
British Pound Declines before GDP Report
The British pound fell today against the U.S. dollar and the yen, following the three days of growth, as the traders expect the GDP report to confirm a decline of the economy today. The traders expected that the todays Q3 GDP report will confirm the 0.5 percent decline seen in the advance report a month ago. The report will be released today at 9:30 GMT. Although it wont mean a recession … “British Pound Declines before GDP Report”
Yen Gains after Two Days of Losses
The Japanese yen rose today against the major currencies after losing for two days as the U.S. macroeconomic reports will show the worsening of the crisis, according to the analysts expectations, and the investors will cut the amount of assets funded in the Japanese currency. The yen experienced one of the worst days yesterday as the stocks surged in U.S. on the revealing of the … “Yen Gains after Two Days of Losses”
Korean Won Close to Decade Low Again
The South Korean won continued its decline against the U.S. dollar today despite the other Asian stocks rebound caused by the U.S. governments intentions to bail-outCitigroup. The won almost renewed its decade low level, set on November 20th, and extended its monthly drop against the greenback today. The currency lost 38 percent this year and is currently the worst-performing one among the 16 most-traded world currencies. There are speculations on the equity and Forex market that … “Korean Won Close to Decade Low Again”
Canadian Dollar Slid This Week as Oil Declined
The Canadian dollar declined against the U.S. dollar for the second week in a row as the oil and commodities prices continued to drop on the worsening global economy outlook. The Bank of Canada Commodity Price Index dropped to 181.63 this week — its lowest level since 2005, while oil prices dropped below $50. Commodity exports are very important for the Canadian economy as they … “Canadian Dollar Slid This Week as Oil Declined”
Malaysian Ringgit Falls with Emerging Markets
The Malaysian ringgit declined slightly today and also posted its third weekly drop against the dollar this week as the emerging stock markets and currencies lived through one of the worst week with the oil, commodities and exports prices falling on the global recession outlook. The ringgit hit its two-year low against the dollar today after the Asian … “Malaysian Ringgit Falls with Emerging Markets”
How Low can Interest Rates Go?
The Federal Reserve has already lowered the interest rate to 1%. This is the lowest ever interest rate. Bernanke is following the footsteps of his predecessor, Greenspan, in an effort to stimulate the economy. In the current global crisis, which is definitely the biggest since the great depression, these low interest rates don’t seem to … “How Low can Interest Rates Go?”
Indian Rupee Falls to Record Low
The Indian rupee fell to the record low level against the U.S. dollar today as the Asian stock markets followed the path of the U.S. equities and declined strongly; the recession forecasts for 2008 and the first half of 2009 also played their role. Dropping more than 1.2 percent today, the Indian currency followed the decline in the local benchmark stock market index, … “Indian Rupee Falls to Record Low”
KRW Reaches Decade Low on Stock Slump
The Korean won reached the lowest level against the U.S. dollar since 1998 today as the countrys stock market fell for the eight day in a row and the foreign investors continued to pull-out the funds. Despite the measures taken by the South Korean government to stimulate the economy and the stock markets, both the currency and the equities continue to decline and show … “KRW Reaches Decade Low on Stock Slump”