In the forex market, huge volume makes even big interventions very hard. The SNB’s intervention had a short lived effect last time, and this time is no different – the correction will come. Such cases are great trade opportunities. The Swiss National Bank intervened in the forex market on March 12th in order to weaken … “Central Banks Intervention – Great Trade Opportunity”
Month: June 2009
Yen Down After OECD Revealing Forecast
The Japanese yen, often associated as the best performing currency in times of crisis due to its refuge investment profile, lost today as the OECD predicted an unexpected growth to its member countries, spurring demand for high-yielding assets. The Organization for Economic Cooperation and Development stated today that its 30 member nations are expected to grow 0.7 percent next year, after a decline forecast of 4.1 for 2009, … “Yen Down After OECD Revealing Forecast”
Dollar Down on Durable Goods Data Speculation
The U.S. dollar had a day of weak performance losing ground to currencies like the euro and the Australian dollar as speculations that a report to be released this Wednesday will indicate a decrease in durable goods orders, affecting the greenback outlook negatively. The greenback lost significantly against most of the major currencies, as today, a durable goods orders reports is very likely to indicate the second fall in three … “Dollar Down on Durable Goods Data Speculation”
Brazilian Real World Biggest Loser as Recession Concerns Rise
The Brazilian currency had the worst performance among the most traded currencies, as confused signals about the world economic situation increased risk aversion among traders, which are leaving high-yielding currencies to purchase safer assets. Different factors pushed the Brazilian currency down this week as risk appetite declined, making stock markets around the world to fall, decreasing the attractiveness of emergent-markets currencies and their high-yielding profile. After a World Bank … “Brazilian Real World Biggest Loser as Recession Concerns Rise”
Yen Rallies Against Main Currencies on Increased Safety Demand
The Japanese currency gained against all 16 most traded currencies as economic concerns continue to rise around the world, causing another day of losses in stock markets, and spurring demand for the safety of the yen. After a World Bank report indicating that the recession will be deeper than previously imagined, equities markets had a negative performance in different continents and risk aversion is back among … “Yen Rallies Against Main Currencies on Increased Safety Demand”
Pound Falls on U.K. Home Prices Drop
The British pound fell against the U.S. dollar as a report indicated the first fall in U.K. home prices in five months, increasing risk aversion towards the pound sterling outlook. The pound had another day of losses as stocks declined snapping the previous days gains, adding pessimism to the already nebulous equities markets scenario. Rightmove … “Pound Falls on U.K. Home Prices Drop”
Yen Rises as Crisis in Iran Deepens
The yen, considered as a refuge investment for moments of instability, rose as the political crisis in Iran deepens, creating tension in the international financial scenario. The Japanese currency started this weeks session stronger than all of the main traded currencies due to rising concerns about the political crisis around the eventually irregular elections in Iran, which resulted so far in 17 casualties in popular protests since the riots … “Yen Rises as Crisis in Iran Deepens”
Iran Election Crisis Supports Dollar
The ongoing crisis in Iran is worrying the whole world and ignites fears. Risk aversion may cause investors towards the US dollar, especially after the escalation in the situation this weekend. Escalation in Iran Election Crisis Iran’s election on June 12th had a very controversial outcome, to say the least. The authorities quickly announced Mahmoud … “Iran Election Crisis Supports Dollar”
Canadian Dollar Falls as Stocks Decline
The loonie had a third week of losses as a fall in U.S. stocks and crude oil decreased the attractiveness for the high-yielding profile of the Canadian currency. Canada is one of the world’s most important commodity producers, and being the U.S. its main exporting destination, a fall in their main stock indexes affected directly the outlook for the Canadian currency. Since signs of economic recovery started to appear two months ago, the price of crude oil and equities market around … “Canadian Dollar Falls as Stocks Decline”
EU Summit Optimism Weakens Dollar
The US dollar had a strong week, with a strong start. It later weakened but remained higher than other currencies. The EU summit optimism erased the gains near the end of trading. The US dollar had a strong start to the forex trading week. Two unexpected geo-political developments helped the dollar. The Russian renewed backing … “EU Summit Optimism Weakens Dollar”