The New Zealand dollar propelled to the monthly high against the U.S. dollar today, rising for the second day, as the stock marked continued to grow globally, improving the appeal of the higher yielding currencies. The Australian counterpart of the NZD also rose today against the other major currencies but not at such a fast pace as the New Zealand dollar. The commodity … “New Zealand Dollar Surges to Monthly High”
Month: March 2009
Yen Gains vs. Dollar for Third Day
The Japanese yen rose against the U.S. dollar for the third day in a row today as the global recession boosted the demand for the «safe haven» currencies, decreasing the attractiveness of the high-yielding assets. The yen also advanced significantly against the euro and the British pound that are vulnerable both to the yen and the dollar during the times … “Yen Gains vs. Dollar for Third Day”
Yen Gains as Chinese Exports Slump
The yen rose today against the other major currencies on Forex as the Chinas exports declined at a record fast pace and the largest Swiss bank reported an increased loss. According to the Chinas customs bureaus report the countrys trade surplus declined to the lowest level since February 2006; UBS reported $18 billion loss for the year 2008. After that the Japanese yen gained mostly against the … “Yen Gains as Chinese Exports Slump”
AUD/USD In Narrowing Channel – Break is Close
The AUD/USD is trading between an uptrend support line and a downtrend resistance line, and it will soon have to break somewhere. Fundamentals say the direction is up. Technical: As seen in the graph below, the AUD/USD is closed by a downtrend resistance line than began with a high in September, was formed in a … “AUD/USD In Narrowing Channel – Break is Close”
Obama’s Stimulus Bad For Dollar, Good For Economy
The stimulus package delivered by Obama spills a lot of money into the US economy. Printing of money devalues the currency, but I do believe that this pro active and extreme measures will get America out of the crisis quite fast. I’ve written in the past that the stimulus package will weaken the dollar, due … “Obama’s Stimulus Bad For Dollar, Good For Economy”
EUR/GBP Broke Downtrend Resistance
EUR/GBP made a strong move upwards, and broke resistance on the daily chart. Terrible Manufacturing Production in Britain pushed the Pound lower, while other currencies gained against the greenback. Parity now? Yesterday’s bad banking news from Britain pounded the pound. This was especially seen in the GBP/USD currency pair, as the Pound fell below 1.40, … “EUR/GBP Broke Downtrend Resistance”
Korean Won Rises as Asian Stocks Gain
The South Korean won rose for the third day against the U.S. dollar today as some Asian stock markets showed the growth and the high-yielding currencies were favored by the traders. The majority of the most-traded Asian currencies (except the Japanese yen) showed gains today that can be simply regarded as the correctional movement after one of the worst beginnings of the … “Korean Won Rises as Asian Stocks Gain”
Pound Falls on HSBC’s Bad Loans
The British pound fell against all major currencies today on the concerns that the United Kingdoms largest bank will have a disastrous time handling the bad loans of its United States unit. The U. K. currency declined against the dollar and the euro as both the U.K. FTSE 100 benchmark index and the Japanese Nikkei 225 dropped during the late Asian and early … “Pound Falls on HSBC’s Bad Loans”
Forex Getting the Deserved Attention
In the Forex market, there’s always a currency that goes up. That’s why I like this market so much. In these times of crisis, it’s the best market for investing your money. New data shows that more and more money enters the forex market in an amazing speed. This shows that everybody is giving forex … “Forex Getting the Deserved Attention”
Bad British Banking News Risks the Pound
Lloyds TSB, the biggest mortgage bank in Britain, was nationalized this weekend by the British government. This is bad news for the British Pound. HBOS “inherited” the bad assets to Lloyds, and now it pays the price. The British government now guarantees the banks money, but the bank, which was once successful, is now in … “Bad British Banking News Risks the Pound”