The Japanese yen declined against its major counterparts today after the Japanese Vice Finance Minister said that the currency rate volatility is hurting the countrys economy. Kazuyuki Sugimoto told the reports in Tokyo today that stimulating the economy is now the governments top priority and that the excessive yens volatility on Forex is undesirable. The yen fell against the dollar, the euro and … “Yen Falls After Vice Finance Minister’s Comment”
Month: May 2009
Euro Down as German GDP Falls More than Expected
The Eurozone single currency declined against all other major currencies today after the news went out that the economy of Germany contracted at a fastest pace in decades last quarter. In the first quarter of 2009 German GDP — the highest in Eurozone and the worlds 4th highest — declined at a seasonally adjusted rate of 3.8 percent compared to Q4 2008; this decline followed 2.2 percent decline during previous quarter. Yearly drop … “Euro Down as German GDP Falls More than Expected”
The Road To Recovery is Narrow
After a few long weeks of good news from the American economy, this week’s figures have given a blow to the hopes of recovery. What does this mean for the US dollar? Non-Farm Payrolls, the single top rated indicator, was better than expected, showing a fall of “only” 539K jobs in April. This was the … “The Road To Recovery is Narrow”
Indian Rupee Sells as Indian Elections End with Uncertainty
The Indian rupee declined against the U.S. dollar today showing the second bearish day as the countrys parliament elections arent easily predictable about the actual winner that will form the new government. While Indias currency was the definite beneficiary of the recent uprise of the high-yielding assets it suffers greatly now from the double impact of the heightened global risk-aversion and the ongoing … “Indian Rupee Sells as Indian Elections End with Uncertainty”
BoE Report on Inflation Spurrs Yen’s Growth
The Japanese yen began to grow today, after a not very good Asian trading session, when the market participants began to react on the British central banks report on inflation and to favor the secure assets and currencies. The report by the Bank of England released at the press conference today suggests that the gain in the consumer spending may be quite far in time at this moment. It was generally more pessimistic and failed to give traders some clue regarding the normalization of the global … “BoE Report on Inflation Spurrs Yen’s Growth”
Euro Reaches 7-Week High on Chinese Investing Improvements
After the European Central Bank policy makers affirmation that rates will be maintained on hold, the euro reached a 7-week high against the dollar. The euro reached a 2-month record high against the dollar, after a report released in China indicating that urban fixed-asset investments had the highest rise in two years, which increased confidence and demand for higher-yielding currencies and the … “Euro Reaches 7-Week High on Chinese Investing Improvements”
Euro Goes Down, Yen Strengthens as Stocks Pared Gains
The euro fell for the first time since May 7 against the U.S. dollar, while the Japanese yen rose against all other major currencies, as the European stock markets failed to demonstrate a commitment to move farther up. The traders witnessed Europes stock market indexes mostly in the red zone and expected a negative opening from Wall Street when they began to sell the … “Euro Goes Down, Yen Strengthens as Stocks Pared Gains”
Hangover from Friday Effect – What’s next for the
After Friday’s late dollar selling, the markets have allowed the dollar to breath. Will the dollar recover or has the fall stopped temporarily? On Friday, Non Farm Payrolls were better than expected. "Only" 539K jobs were lost in April, contrary to early expectations that were at -615K and later improved to 590K. The good figure … “Hangover from Friday Effect – What’s next for the”
Canadian Dollar Reacts on Strong Employment Data
After a bearish previous week, the loonie reached a 6-month high against the dollar as national employers added jobs and optimistic data from the U.S. indicate that the recession may be easing. During this week, the loonie was a fantastic investment for traders, rising more then 2.4 percent against the greenback, reaching a 6-month high. Canadas currency uptrend is being highly influenced by the growing demand for crude oil in Asia, which reached the price of $58 for a barrel in this … “Canadian Dollar Reacts on Strong Employment Data”
Russian Ruble Rises as Oil Hits Six-Month High
The Russian currency and stock market posted a week of gains as the price of oil rose, pushed by rising demand in Asia, the MICEX Index is at its highest level since October. The MICEX Index, a reference in the Russian stock market compromising 30 of the most relevant stocks, rose above 1,000 for the first time since October, and also pushed by rise of the crude oil in New York, … “Russian Ruble Rises as Oil Hits Six-Month High”