The New Zealand dollar rose to the highest level since early January 2009 today, backed by the support from the continuously growing emerging and developed stock markets. The kiwi (as the NZD is often called by the Forex traders) also rose against the Australian dollar, which advanced against the «safe haven» currencies too. The New Zealand dollar rose to the 5-month high … “NZD Reaches Highest since Early January”
Month: April 2009
Important Week For Aussie
AUD/USD made strong moves last week, and surrendered to a major resistance line. This week influx of Australian economic indicators might send the Aussie over the line. AUD/USD closed at 0.6938 in the previous week and closed the week at 0.7149. The Aussie began the week on the downside, going as low as 0.6768. But … “Important Week For Aussie”
Comeback of the Pound
The British Pound had a marvelous performance this week. It broke upwards against the dollar and the Euro, and showed some positive economic news for a change. Will Britain emerge quickly from the crisis? GBP/USD is now trading at 1.4820, a price not seen in a long time. This is higher than last week’s peak, … “Comeback of the Pound”
KRW Falls as Government Cools Optimism
The South Korean won declined today against the U.S. dollar after rising for the whole week after the countrys government said that the current investors outlook for the economy are too optimistic. The currency was in the uptrend this week as the markets have seen a serious decline in the risk-aversion. Despite the rising stock markets in the Asian region, the … “KRW Falls as Government Cools Optimism”
EUR/USD Rally – Very Problematic
The Euro has all the reasons to celebrate today: G20 resolution, Trichet’s defiance, and bad jobless claims. The Euro will soon meet resistance, since this rally is problematic. Very problematic. G20 leaks suggest that the leaders will succeed in reaching a joint agreement for stimulating the world. A $750 billion strong IMF can do much … “EUR/USD Rally – Very Problematic”
Pound Gains as House Prices Rise
The British pound rose today against the other major currencies as the house prices demonstrated growth for the first time since October 2007 in United Kingdom this March. The market participants expected that the March report on the nationwide house prices in Great Britain will show a continued decline on the recessing economy. They were wrong as the report showed 0.9 percent month-to-month growth … “Pound Gains as House Prices Rise”
Continued American Housing Doesn’t Help The Dollar
Housing data in the US continues to shine, with Pending Home Sales showing strength and surprising. But the markets have their heads in the next two days: G20 Summit and NFP. Tension is high… Pending Home Sales have been very positive: A rise of 2.1%, compared to early expectations of 0.2%. Comparing to last month, it … “Continued American Housing Doesn’t Help The Dollar”
Euro Declines on Unemployment Report
The single European currency declined today to the levels close to its 2-week low before and after the report on Eurozone February unemployment negatively surprised the traders. The Japanese yen, the U.S. dollar and the British pound all gained against the euro as the investors expected that the jobless rate will grow in the Eurozone at faster pace than the analysts … “Euro Declines on Unemployment Report”