The Aussie profited today from a risk driven scenario in global markets and extended yesterday’s gains after central bankers in the nation said that interest rates may be hiked further this year if the economy continues to recover. The Australian dollar started to rise today in the beginning of the South Pacific trading session after government authorities affirmed that the current suspension in rate raises are likely to to end if the national economy … “Australian Dollar Extend Gains on Interest Rates Outlook”
Month: February 2010
Crude Oil, European Confidence Push Loonie Up
The Canadian currency benefited from a risk driven session today after commodities and stocks climbed considerably on renewed market confidence since concerns regarding Greece’s budget deficit cooled down in Europe, decreasing risk aversion globally. After concerns in the Eurozone cooled down since Greece stated it will implement all necessary measures to tighten its budget deficit and avoid a bailout from the IMF, financial markets rose globally, … “Crude Oil, European Confidence Push Loonie Up”
Euro Advances as Greece Concerns Considered Excessive
The European single currency gained considerably versus the U.S. dollar and the Japanese yen as traders considered the lack of attractiveness for the euro too strong as Greece’s budget crisis is not so serious in terms of practical consequences for the European Union’s economy. The euro posted a significant rebound versus important currencies in Europe like the Swiss franc and the Great Britain pound as Greece is ready to implement measures necessary to tighten its budget deficit according … “Euro Advances as Greece Concerns Considered Excessive”
As Fear Fades, Commodity Currencies Rightfully Gain
The Greek crisis is unwinding slowly – too slow for the Euro. But far away from Europe, a sigh of relief is heard: The Australian, New Zealand and Canadian dollar are advancing nicely. Eventually there will be a solution to the long Greek crisis. It can be with German help, IMF funds or some other kind … “As Fear Fades, Commodity Currencies Rightfully Gain”
Forex Hacking Winners
Forex Hacking launches right now. 60 Forex Crunch readers showed interest in the new book with 60 comments! Thank you for your interest. It’s time to announce the 5 winners. Yes, the author has agreed to hand out 5 copies, more than 4 that were originally offered. I’ve used random.org for drawing the winners. Here … “Forex Hacking Winners”
Yen Down on Deflation Concerns
The Japanese yen started this Tuesday’s session down versus most of the 16 main traded currencies as concerns regarding the country’s deflation are fueling speculations that interest rates will be maintained at a record low for a longer period. While multiple wealthy nations around the world are already lifting stimulus created during the worst moments of the global slump to revive their economies, the Japan is still facing deflation concerns, … “Yen Down on Deflation Concerns”
Hungarian Forint Falls on Upcoming Budget Crisis
The growing problems of budget deficits are not an exclusivity among EU countries using the Euro, as several of its eastern nations, as in the case of Hungary, have a budget deficit much above the maximum tolerated by the European Central Bank, affecting the nation’s currency performance. The Hungarian forint ranked among the worst performing currencies today in foreign exchange markets after the International Monetary Fund affirmed that the central European nation may not achieve … “Hungarian Forint Falls on Upcoming Budget Crisis”
Euro Remains Bearish on EU-Greece Talks
It seems that another week of downtrends has started today for the European single currency, as EU officials suggested that Greece will have to implement a harder budget-cut policy in order to be helped by the bloc’s financial authorities to end its growing fiscal crisis. The euro started this week losing versus the greenback and currencies from its main trading partners as the European Union failed to present a concrete restructuring plan for Greece … “Euro Remains Bearish on EU-Greece Talks”
Aussie Dollar Profits From Optimism Towards China
Even if China’s new domestic economic policies have been impacting markets negatively since the the beginning of the year, the Australian dollar managed to climb slightly versus important currencies today as analysts affirm that the Asian economy will continue to grow despite new restrictions imposed by Chinese central bankers. Australia is one of the main raw materials suppliers supporting China’s economic boom, and Chinese new bank loans reserve … “Aussie Dollar Profits From Optimism Towards China”
GBP/USD – Trend lines on a Collision Course
The Pound is trading in a narrow range, and it’s getting narrower. The trend lines are about to collide – meaning that an explosion is underway. There are a few upcoming events that will determine the direction of explosion. GBP/USD is bound by two trend lines that aren’t parallel. Using the hourly chart, I’ve drawn … “GBP/USD – Trend lines on a Collision Course”