The Great Britain pound slipped today on the speculation that the attempts to deal with the budget deficit may be hindered by the slow growth of the U.K. economy, which expanding with slower pace than the economies of the U.S. and the Euro-zone. The U.K. economy expanded by 0.2 percent in the first quarter, while the U.S. economy grew at a 3.2 percent annual rate at the same time. The declining consumer confidence in Britain, which dropped to the three-month low in April, deprives … “Slow U.K. Economic Growth Curbs Pound’s Strength”
Month: April 2010
Euro Rises on Prospect for Greece to Receive Aid Soon
The euro gained today against most other major currencies on the speculation that Greece may accept to perform the budget cuts, which were requested by the European Union from Greece for the nation to receive the $159 billion financial aid. The outlook for the euro improved on the prospect that Greece will receive the help soon as Jose Barroso, the President of the European Commission, expressed the certainty that Greece will get the aid ”in days”. This has … “Euro Rises on Prospect for Greece to Receive Aid Soon”
Swiss Franc’s Appreciation Contained by Central Bank
The Swiss franc dropped slightly against the euro today before returning to its opening price as Philipp Hildebrand, the Chairman of the central bank, said that the further rise of the franc will be contained while the policy makers are “acting decisively to prevent an excessive appreciation”. The Swiss currency may profit from the Greece’s troubles as the weakening euro may increase the demand for the franc as the safe currency. And the appreciation may negatively impact the appeal of the currency … “Swiss Franc’s Appreciation Contained by Central Bank”
Rising Stocks & Oil Prices Drive Loonie Up
The Canadian dollar rose against its U.S. counterpart for a second day and gained versus other major currencies today after the crude oil prices and the stocks advanced, signaling about the widening economic recovery and improving the investors’ risk sentiment. The Loonie, as the Canadian currency nicknamed, is tied to the commodity prices, especially the prices for the crude oil as it’s the biggest nation’s export. The signs of the improving global economic environment encouraged the risk appetite of the investors … “Rising Stocks & Oil Prices Drive Loonie Up”
Confidence in Sterling’s Strength Improves
The Great Britain pound gained today on the speculation that the nation’s budget deficit will be dealt with even in case the election would produce the government without the majority in the Parliament. The confidence in the Britain’s ability to rein its budget shortage improved after the sovereign credit ratings of Greece, Portugal and Spain was lowered by the Standard & Poorâs. The U.K. house prices increased more then predicted, also adding to the confidence in the sterling’s strength. … “Confidence in Sterling’s Strength Improves”
Increasing Rates Push Brazilian Real Up
The Brazilian real advanced today against the U.S. dollar, supporting the bullish outlook for the currency, which was prompted by the increasing interest rates. Henrique Meirelles, the president of the Brazil’s central bank, increased the benchmark lending rate to 9.5 percent from a record-low 8.75 percent to keep the inflation in check. The gross domestic product is expected to grow 6 percent in 2010, supporting the real performance. USD/BRL traded at 1.752 as of 11:01 GMT today down … “Increasing Rates Push Brazilian Real Up”
Confidence in European Economy Increases, Helping Euro
The euro rose today on the signs of the increasing confidence in the Euro-zone economy, supported by the outlook for the fast-paced economic recovery, despite the threat of the budget deficit spreading beyond Greece that plagues Europe. The European companies are relying on the global economic recovery to boost their sales. The companies should turn to exports for earning profits, particularly to the emerging markets like China and India, as the local consumers are reluctant to spend their money. The future of the European economy … “Confidence in European Economy Increases, Helping Euro”
Inside Candle Breakout Technique for Profit on EUR/USD
Guest post by Jason Madison, independent trader and founder ofBeatWallStreetNow.com Hello All, I hope you found the inside candle breakout technique I showed to be useful, and I hope some of your went on to use it to make a few pips for yourselves. Today I am going to show you how I used this … “Inside Candle Breakout Technique for Profit on EUR/USD”
Dollar Supported by Fed’s Decision to Keep Rates Low
The U.S. dollar rose today against the Japanese yen, erasing its yesterday losses, and against the Great Britain pound after the Federal Reserve confirmed its intention to keep the interest rates near zero and reported about the stable inflation outlook and the improving labor market conditions; the greenback retreated versus the euro. The officials informed about the increasing household spending, though the credit to households remains tight. The demand from overseas and lower labor … “Dollar Supported by Fed’s Decision to Keep Rates Low”
Canadian Dollar Goes Up on Rising Stocks
The Canadian dollar advanced today against its U.S. counterpart and some other major currencies after the U.S. stocks rose more than estimated and as the investors demand for the currencies of the nations with the strong economies increased. The Canadian currency has dropped earlier on the concern that Greece will require more funds to resolve its budget crisis than previously expected. The worries were somewhat suppressed as European Union and International Monetary Fund … “Canadian Dollar Goes Up on Rising Stocks”