The Canadian dollar had a disappointing start this week as a combination of global pessimism and optimism exclusively to the U.S. economy declined appeal for currencies tied to growth, but today the loonie ended its losing trend on more favorable news for its currency outlook. The main driver behind the halt on the the CAD losing streak was a comment made by Federal Reserve Chairman Ben Bernanke affirming that the U.S. economy still needs low interest … “Loonies Decline Halted on Fed Comments, Oil Rebound”
Month: February 2010
Dollar Ends Rally on Interest Rates Comments
After gaining since the beginning of this trading session on speculations that a robust U.S. economy would provide grounds for borrowing costs to rise in the following months, the dollar slid as government officials stated otherwise. A comment made by Federal Reserve Bank of St. Louis President James Bullard suggesting that interest hakes may not be hiked this year in the United States impacted market sentiment towards the greenback, as Fed’s position … “Dollar Ends Rally on Interest Rates Comments”
Speculations Regarding SNB Affect Franc
The Swiss franc advance has been a subject of great concern among central bankers in the tiny European nation as exporters are being affected by its high prices, raising speculations that the SNB is selling the currency to prevent its advances. The Swiss franc posted a sharp and abrupt decline versus most of the 16 main traded currencies this Tuesday, providing support for speculators’ thesis that the Swiss National Bank is selling … “Speculations Regarding SNB Affect Franc”
Yen Benefits From Overseas Negative Reports
The Japanese yen, known as the safest bet in forex markets during times of uncertainty, profited today from negative releases in both Europe and North America, allowing the Asian refuge currency to post the sharpest gains versus currencies tied to growth. The trading session started today with new pessimistic figures in Europe, as an important business confidence report published in Germany showed the first slump in this publication for the first time since the EU started … “Yen Benefits From Overseas Negative Reports”
Global Economic Concerns Impact Loonie’s Price
The sharp and strong economic recovery expected by some analysts for this year has not yet been confirmed, and new concerns regarding the global economic future influenced negatively the demand for Canadian exports and consequently for its currency. The Canadian dollar was affected today by several negative events coming from different parts of the world, which affected not only the loonie but all currencies tied to growth, as the U.S. consumer confidence tumbled … “Global Economic Concerns Impact Loonie’s Price”
The King Wants and Gets a Weak Pound
Mervyn King continues to dominate the Pound’s agenda, and not in a positive way. His big hints about more QE pound the pound as it makes another attempt to break the support line. The governor of the Bank of England, Mervyn King, hurt the Pound once again. In his appearance in parliament, the agenda was … “The King Wants and Gets a Weak Pound”
Euro Suffered Again on PIGS Budget Crisis, U.S. Optimism
The euro started another week losing versus its main rivals as traders’ confidence towards investments in the region continued to fall, considering that no concrete solution was proposed to end the fiscal crisis affecting several countries using the single currency. Apart from the usual budget crisis talk with which most of the forex traders are already used to, reports to be released this week from the main Eurozone … “Euro Suffered Again on PIGS Budget Crisis, U.S. Optimism”
Currensee Raises $8M for Expansion Outside the US
Social forex site Currensee got new funding from investors. These funds will fuel expansion into the UK, Europe and Asia, development of the platform and the Trade Leaders program in which you can follow and mimic real trades of successful traders. Raising money for start ups isn’t so common since the breakout of the financial crisis. … “Currensee Raises $8M for Expansion Outside the US”
Video Weekly Outlook
On the weekly interview on Forex TV with Julie Sinha, I spoke about the market’s mood in the upcoming week, calendar events to watch, the bearish and the bullish pairs and the possible breakouts. Enjoy! The kiwi dollar is expecting an interesting week, with important quarterly releases. Also the Swissy awaits interesting events, but they … “Video Weekly Outlook”
Aussie Dollar at High Levels on Rates Outlook
The Australian dollar is profiting from speculations that a new series of interest rate hikes is likely to follow in the South Pacific nation, as its economy continues to improve, allowing the currency to gain versus its main rivals on foreign-exchange markets. After the global slump worst moments passed last year, Australia was the first relevant economy to raise its borrowing costs, allowing the Aussie to be one of the best performers last … “Aussie Dollar at High Levels on Rates Outlook”