The Great Pound weakened today after the central bank’s policy makers suggested that the budget spending cuts might throw the Britain’s economy back into recession. The GfK NOP index of the consumer sentiment dropped to -19 this month from -18 last month. This drop added to the general opinion that the fundamentals in the U.K. remain weak. The concern among the economist is that the pound’s gains may actually lead to the double-dip … “Pound Weakens on Fears of Double-Dip Recession”
Month: June 2010
Euro Rises on Optimism for European Fiscal System
The euro strengthened today after the European Central Bank announced that it would lend the European banks less than was expected, fueling optimism for Europe’s fiscal system. Previously the euro dropped on the worries that the banks would require more loans, signaling that the weak European banking system wouldn’t survive without support. The ECB said, though, that it’d loan 131.9 billion euro to the banks, that’s more … “Euro Rises on Optimism for European Fiscal System”
Thai Baht Rises, but Remains Under Pressure
The Thai baht rose today after it previously fell as the political turmoil drove away the investors and prompted them to take away the fund from the nation’s equities. The foreign investors took away $1.88 billion from the nationâs stocks since March, following the $1.31 billion net purchases in the first three months of 2010. The analysts say that the baht would remain under pressure as the stocks falls and the concerns for China’s growth increase … “Thai Baht Rises, but Remains Under Pressure”
Korean Won Weakens as Economic Recovery Slows
The South Korean won slid today after the U.S. consumer sentiment slumped more than forecast, fueling doubts about the strength of the global economic recovery. The MSCI Asia-Pacific Index of regional shares declined for a second day and the Standard & Poorâs 500 Index of the U.S. shares dropped to the lowest level in eight months. Most market participants expect that the forthcoming reports would show the slowdown of the U.S. and China’s economies. USD/KRW traded … “Korean Won Weakens as Economic Recovery Slows”
Education – The First Step to Make Forex More Mainstream
Currency trading is growing rapidly worldwide, yet it’s still far from the mainstream. Education has a primary role in making a change. This is the first article in a series of articles about forex coming into the mainstream. Many newcomers to forex trading don’t know what they’re doing. This is no secret. This lack of … “Education – The First Step to Make Forex More Mainstream”
Fundamental Overview – Market Movers This Week – 6/28/2010
Although the U.S. Dollar was more or less neutral versus the Euro on the week, the British Pound Sterling was up 1.6% as the market reacted favorably to the new Conservative/Lib Dem government’s Emergency Budget. The Greenback sold off even further last week against the Aussie, Kiwi and Yen in the wake of an important … “Fundamental Overview – Market Movers This Week – 6/28/2010”
Pound Falls as Concern for China’s Growth Spurs Risk Aversion
The Great Britain pound weakened today after the stocks dropped on the concern that the economic growth of China may slow, damping the demand for the currencies, considered being riskier. The pound rose previously on the outlook that the emergency budget and spending cuts would reduce budget deficit without hurting the economic growth. Yet the concern, brought by the disturbing prospect for China’s economy, harmed many riskier currencies, regardless of the supportive domestic factors. MSCIWorld Index … “Pound Falls as Concern for China’s Growth Spurs Risk Aversion”
Concerns for Global Economic Growth Rise, Hurting Loonie
The Canadian dollar today sank against its U.S. counterpart and weakened versus the euro on the concerns about the state of Europe’s economy and its banking system, causing the investors shun the higher-yielding stocks and commodities. The demand for the three-month loans, offered tomorrow by the European Central Bank, will show the state of the European banks, which are required need to repay as much as 442 billion euro on July 1st. The news from other parts of the world also … “Concerns for Global Economic Growth Rise, Hurting Loonie”
Yen Strengthens amid Concerns for Economic Recovery
The Japanese yen rose today against the U.S. dollar and the euro as the speculation that the global recovery is faltering increased the demand for the safety, boosting the Japanese currency. The pessimism about the European economy remains and now the confidence in the U.S. economy expected to worsen too. The yen tend to rise amid the economic instability as it’s less reliant on the foreign funds because of its trade surplus. USD/JPY traded at 88.75 as of 10:40 GMT after opening at 89.37 … “Yen Strengthens amid Concerns for Economic Recovery”
Franc Appreciated as Deflationary Concerns Waned
The Swiss franc advanced against the euro today to the record high level after the Swiss National Bank said that it’s not likely to intervene to prevent the franc’s appreciation. Jean-Pierre Danthine, the Member of the Governing Board of the SNB, said that the concern about the deflation “practically disappeared”. He also added that if it would be necessary to increase the interest rates, the central bank “would be able to react very quickly”. … “Franc Appreciated as Deflationary Concerns Waned”