Today, the European Central Bank will make a decision about the interest rate in the Eurozone. This is supposedly the biggest event this week, after last week’s Non Farm Payrolls in the US. Most economists and analysts are expecting a half a percent cut, from 2.5% to to 2%. But Jean Claude Trichet and his friends … “ECB Rate Decision – A non event”
Month: January 2009
Dollar Weakens before Important Reports
The U.S. dollar declined today against the other major currencies, except yen, after rallying for three days, as the investors sought a technical correction before some important macroeconomic reports to be released today in United States. Federal Reserve Chairman Ben Bernanke said yesterday that the new fiscal policies wont produce a long-term recovery effect on the whole economy, hinting that the additional … “Dollar Weakens before Important Reports”
NZD Drops as Credit Rating Outlook Revised
The New Zealand dollar dropped to the monthly low against the U.S. dollar today as the S&P rating agency revised the countrys foreign currency credit rating outlook from stable to negative. Standard & Poors, one of the worlds leading credit rating agencies, confirmed New Zealands AA+ foreign currency credit rating and revised its outlook to negative yesterday. The countrys currency reacted with a drop as the confidence in the … “NZD Drops as Credit Rating Outlook Revised”
Euro Declines on Dovish ECB Expectations
The euro declined against the U.S. dollar and the Japanese yen today after opening with a rather large negative weekly gap against these currencies as the traders expect that ECB will continue rate reduction this week. The European currency fell to the one-month lowest against they yen and the weakest level since January 6 against the dollar. The currency … “Euro Declines on Dovish ECB Expectations”
Korean Won Declines on Rate Cut
The South Korean won continued to decline against the U.S. dollar today almost completing a third week of drop as the countrys central bank reduced the interest rate to the record low value. The decline in the global stock markets also helped the won to come down against the other currencies. Traders move out their investments from the Korean economy in fear of the recession. … “Korean Won Declines on Rate Cut”
Non Farm Payrolls – Where will it go?
The most significant event for the Forex market is tomorrow: the Non Farm Payrolls. This is a highly anticipated figure, that draw attention from all traders. NFP is the most important number for the US dollar, thus for every forex trader. The market always fluctuates wildly when the Non Farm Payrolls is published on the … “Non Farm Payrolls – Where will it go?”
AUD, NZD Down on Aroused Risk Aversion
The Australian and New Zealand dollars both showed a second day of decline today on the Forex market as the stocks, commodities and the confidence in the fast recovery from the recession fell world-wide. Both currencies have been showing a nice daily rally against the U.S. dollar and the Japanese yen until they began to go down yesterday, almost paring the gains of the … “AUD, NZD Down on Aroused Risk Aversion”
Euro at 3-Week Low vs. Dollar on Low Inflation
The European single currency bottomed near the 3-week low against the U.S. dollar and significantly fell against the Japanese yen and the British pound today as the investors expect further rate cuts from the European Central Bank. There are two factors for the euros current weakness that the analysts name as the main — the new proposed stimulus plan … “Euro at 3-Week Low vs. Dollar on Low Inflation”
Canadian Dollar Rises as Oil Shows Strength
The Canadian dollar rose against the 3 other major currencies today, completely reversing the daily trend, as the oil and commodity markets become more attractive after the holidays. Today the loonie (another name for the Canadian currency) is growing for the third day against the Japanese yen and the Euro and for the second day against the U.S. … “Canadian Dollar Rises as Oil Shows Strength”
Dollar-Pound Strange Correlation
There is a strange correlation between the US dollar and the British Pound. The pound goes further than the dollar, whichever direction the dollar takes. Whenever the dollar rises – the pound rises as well – and also against the dollar. And whenever the USD weakens, GBP weakens even more. Today, Januray 5th has been … “Dollar-Pound Strange Correlation”