After several days gaining versus the dollar and the euro, the Norwegian currency slid versus main traded currencies as a bearish day in equities markets and decreased demand for commodities shunned investors from assets in the Nordic country. The Norwegian krone was affected today as the crude oil, the nation’s chief export, had a decline on its rates after China imposed new lending requirements for banks in the country, affecting markets’ sentiment, consequently impacting stock … “Norwegian Krone Tumbles as Commodities Rally Slow Down”
Month: January 2010
Canadian Dollar Falls on Trade Deficit Surprise
The Canadian dollar had its rally towards parity with its U.S. counterpart halted after a monthly trade deficit was posted today, raising doubts that the nation’s economy is not going as good as some analysts like to believe. The loonie had a disappointing surprise today as Canada posted a trade deficit of more than $300 million while forecasts suggested a surplus of $500 million, surprising traders and affecting the outlook … “Canadian Dollar Falls on Trade Deficit Surprise”
Yen Rallies on China’s Banking Policy
Risk aversion declined significantly today after China set a new reserves requirements for banks in the country, allowing the yen to outperform all of the 16 main traded currencies in foreign-exchange markets, as pessimism surged. Equities markets in Asia and globally declined today, raising demand for the yen, as China set a minimum of 16 percent of reserves that large banking corporations in the country must have, in order to avoid a credit bubble as the one that caused the global … “Yen Rallies on China’s Banking Policy”
Swiss Franc May Decline On SNB Interventions
After the SNB stated its position against further advances of its national currency, the Swiss Franc may be poised to decline versus main currencies, as fears of interventions are likely to shun investors from investing in the franc-priced assets. The Swiss franc gained during the late months of the last year versus the euro and the dollar, posting its highest monthly advance in December versus the European single currency in 2009, and trading in parity with … “Swiss Franc May Decline On SNB Interventions”
Pound Strong Versus Dollar on Global Recovery
The U.K. currency extended Friday’s gains versus the U.S. dollar today as global optimism helped speculations that an economic recovery in the U.K. will make its currency more attractive in foreign-exchange markets. A business report published today by a private company in the U.K. indicated that confidence regarding economic conditions has improved substantially in an annual comparison, helping the pound to post another day of gains versus the greenback after a Chinese trading report … “Pound Strong Versus Dollar on Global Recovery”
Ruble Gains Sharply on First Russian Trade Day
In the first day of trading for Russian stocks in 2010, the national currency posted a sharp rise as equities in the country, extremely related to commodities, climbed with full force, as stock markets in the country were closed last week. The ruble benefited today from a strong demand for oil in the Northern Hemisphere as this winter is being of the most intense during the past decade, forcing the crude beyond $83 a barrel, allowing Russian stocks to gain sharply … “Ruble Gains Sharply on First Russian Trade Day”
Forex Advertising in 2010
FXCM is due to reduce their advertising budget dramatically. This move will have an impact on the forex industry, but also in ways that aren’t expected. FXStreet’s CEO, Fransesc Riverola, reported that FXCM will be dramatically cutting its advertising budget for 2010. In a very interesting blog post, he said that the battle will be … “Forex Advertising in 2010”
Swiss Franc Retreats After Central Bank Statement
The Swiss currency had its previous week rally versus currencies like the pound and the euro halted today after the national central bank took a position against further advances of the franc, as the current appreciation was considered excessive by SNB officials. After a rally that lasted during most of the past week trading session, the Swiss National Bank President Philipp Hildebrand stated today that the franc’s fluctuations will be monitored … “Swiss Franc Retreats After Central Bank Statement”
Canadian Dollar Remains Strong on Commodities
The Canadian currency started another week strong versus several main traded currencies, specially lower yielding options, as demand for commodities continues to bring capital to Canada, the biggest oil supplier for the United States. The rising demand for energetic and metallic commodities is helping the loonie to remain as one of the best bets in foreign-exchange markets in the beginning of 2010, as commodities exports are responsible for around 50 percent of Canada’s international trading capital inflows. This … “Canadian Dollar Remains Strong on Commodities”
Pound to Decline Versus Higher-Yielding Currencies on Weak Recovery
The United Kingdom has been showing itself as one of the least resilient nations among the wealthiest countries in the world, and its weak economic data combined with a ineffective monetary policy is likely to set the sterling further down in the first semester of 2010, specially versus higher-yielding options Bank of England policy makers insisted to extend its so far frustrated bond purchase strategy, injecting its remaining 200 billion pounds … “Pound to Decline Versus Higher-Yielding Currencies on Weak Recovery”