The Reserve Bank of New Zealand cut its benchmark interest rate from 3.0 percent to 2.5 percent to a record low level for the countrys economy. New Zealand was one of the most punished countries by the global slump due to its commodity exporter economic profile and since July, the central bank has continuously cut the national interest rate from 5.75 percent to the current level of 2.50 percent … “New Zealand Interest Rate Reaches Record Low at 2.5%”
Month: April 2009
Dollar Weakens as Refuge Currencies Lose Demand
The dollar dropped against the euro for the second day in a row as stock market conditions improve, bringing risk appetite back among investors. Refuge investments such as the yen and the greenback are losing ground as risk aversion declines in global markets, pushed by improved economic conditions and confidence in some economies. After rising speculations that Chrysler LLC will go bankrupt, the U.S. dollar fell against most of the world currencies, specially against those … “Dollar Weakens as Refuge Currencies Lose Demand”
GDP And FOMC Roundup – Yen Hurt
Advance GDP and the FOMC Statement supplied much volatility for the forex market. Most currency pair eventually stayed in the same place. Only the Yen was significantly hurt. Advance GDP was very bad: According to the early indicator, the American economy squeezed by 6.1% in the first quarter of 2009, much worse than early expectations … “GDP And FOMC Roundup – Yen Hurt”
Euro Climbs as Pandemic Fears Ease
The euro rose against the dollar and the pound as concerns involving the swine flu have eased and the reported economic confidence in the region hit the highest level in a one-year period. The swine flu caused panic in the beginning of the week on speculations that it could deepen the global recession severely, making multiple stock markets to post sharp falls and high-yielding … “Euro Climbs as Pandemic Fears Ease”
Dollar Falls as Economy Shows Recovery
The U.S. dollar and the yen fell as signs that the recession could be ending attracted investors back to riskier assets, making the demand for refuge currencies, such as the greenback, to diminish. The greenback had the second day of losses against the euro on forecasts that a report to be released will show that the U.S. economy contracted at a slower pace in the first quarter while … “Dollar Falls as Economy Shows Recovery”
New Zealand Dollars Weakens as Pig Flu Spreads
The New Zealand dollar, followed by its Australian counterpart, fell for the second day on fears that the swine flu may deepen the global slump, affecting tourism and high-yielding assets. After U. S. Regulators told that the Bank of America and the Citigroup are likely to need more capital in the short-term future, the Australian dollar fell below 70 cents for the first … “New Zealand Dollars Weakens as Pig Flu Spreads”
Yen Rallies Against Euro On Swine Flu Concerns
The yen, regarded as a refuge currency, hit a six-week high against the euro after the World Health Organization affirmed that the swine flu is spread and cannot be contained. The yen had sharply increased since the announcement that the swine flu may become a pandemic health issue, reflecting also in a terrible Monday for the stock markets. In the United States, not only … “Yen Rallies Against Euro On Swine Flu Concerns”
Pound Weakens After Former UK Treasury Adviser Declarations
The pound had a bad start this week after former U.K. Treasury adviser Roger Bootle said that a depression might be coming for the national economy as house prices decline. Multiple reasons brought the pound down for two days against the euro, dollar and the Swiss franc. Hometrack Ltd. released a report showing that the real estate prices contracted for … “Pound Weakens After Former UK Treasury Adviser Declarations”
Spreading Swine Flu Pushes Yen Up
The yen hit a four-week high against the dollar as speculations suggest that the swine flu will deepen the global slump. In these times of crisis the yen has been used by investors as a refuge, and as bad news continue to appear in different parts of the world, the bullying trend for the Japanese currency is likely to continue. The swine flu is already infecting the financial markets … “Spreading Swine Flu Pushes Yen Up”
Swine Flu Raises the Dollar
The Swine Flu has ignited fear of more economic woes, which sent the dollar high on risk aversion. How long will this last? The news around the world is dominated by the Swine Flu – or Swine Influenza. This disease, that first made the news after cases in Mexico, now happened in the US and … “Swine Flu Raises the Dollar”