The South African rand fell today after the country posted the trade deficit in April, which caused the concerns that the nation’s economy will be more dependent on the foreign financial inflows. South Africaâs economy posted the trade deficit of 1.89 billion rand ($246 million) the last month, following the revised surplus of 458 million rand in March. This figure, while better then expected, makes the investors to worry about the nation’s … “Trade Deficit Hurts South African Rand”
Month: May 2010
Canada’s Economy Bolsters Canadian Currency
The Canadian dollar rose against its U.S. counterpart, paring previous losses, and extended its rally versus the euro today on the signs of the record economical growth and on rising oil prices, which caused the speculations that the central bank will increase the interest rates. Canada’s gross domestic product grew 6.1 percent in the first quarter of this year, the fastest pace in a decade. July delivery for crude oil rose $0.71 (1 percent) … “Canada’s Economy Bolsters Canadian Currency”
5 Reasons to Invest in the Israeli Shekel
Guest post by Melissa Tamura Nowadays, many investors have become wary of the dollar, with all of the money printing that has gone on stateside in the last two years. The money supply was grown at a rate of 300%, and this assuredly spells inflation disaster and currency devaluation troubles in the near to medium … “5 Reasons to Invest in the Israeli Shekel”
Czech Koruna Rises After Parliamentary Election
The Czech Koruna jumped today after the parliamentary election gave most votes to the parties determined to cut the budget spending, removing the concerns of the market participants that the election will be won by the parties intending to increase the social spending. Petr Necas, the leader of the Civic Democratic Party, said: “We have to send a message to the international investment community about responsible budget policy”. The investors expect that the new government will perform the fiscal … “Czech Koruna Rises After Parliamentary Election”
Japanese Yen Weakened by Political Turmoil
The Japanese yen dropped today after the Japanâs Social Democratic Party left the coalition government, causing speculation that the political turmoil will diminish the currency’s attractiveness as the safe haven. The Social Democratic Party left the ruling coalition yesterday after Yukio Hatoyama, the Prime Minister of Japan, fired from the Cabinet the party’s leader and its only Cabinet minister. The survey showed that 63 percent of the nation’s voters want Hatoyama to resign. … “Japanese Yen Weakened by Political Turmoil”
Best Non-Farm Payrolls in 13 Years?
The upcoming Non-Farm Payrolls release on June 4th holds high expectations – a job gain of 500K jobs, the best since 1997, but this includes special government hiring. Here are the things to watch for in this release, and the expected impact on currencies. It’s important to stress that the Non-Farm Payrolls release is the … “Best Non-Farm Payrolls in 13 Years?”
Open Stats
Forex Crunch stats are now visible to the public via Double Click AdPlanner. In an industry that is still growing up and is still full with secrets, this is my small contribution to enhanced transparency. There are lots of web comparison tools out there that measure traffic on the web. Alexa and Compete are the … “Open Stats”
Euro Moves with Volatility This Week
The euro’s movement this week was signified by high volatility as the announcement of China’s government eased concerns, caused by troubles of Spanish banking system, then speculation about the possible ban of naked shorts in Germany brought back the uncertainty. The euro dropped to 1.2370 against the U.S. dollar on Monday and continued its decline before returning to this level again on Thursday, then fell again on Friday. Against the Japanese yen the shared European currency … “Euro Moves with Volatility This Week”
Dollar Strengthens vs. Euro & Pound, Weakens vs. Yen
The U.S. dollar rose today against the euro and the Great Britain pound after the reports showed that the U.S. economy continues to expand, Japanese yen managed to outperform the U.S. currency, though, as the economic growth showed signs of the slowdown. The personal income of the consumer in the U.S. increased 0.4% in April. The Chicago business barometer showed that economic activity grew for the eighth month, albeit with slower pace. The report of the University of Michigan showed that … “Dollar Strengthens vs. Euro & Pound, Weakens vs. Yen”
Euro Experiences Volatile Moves on Talks About Austerity Measures
The euro experienced high volatility today against the U.S. dollar and the Japanese yen on the concerns that the austerity measures will be taken by the EU leaders to rein the debt crisis, hurting the economy. The speculation emerged that Germany plans to turn its temporal ban on short naked selling into the permanent one for some securities of EU countries. These rumors sent the markets back into the turmoil from which they just have … “Euro Experiences Volatile Moves on Talks About Austerity Measures”