The Russian ruble gained today, reaching the highest level in more than a week against the U.S. dollar, after the prices for crude oil, the main source of the nation’s export revenue, rose. July delivery for crude oil traded at $76.63 per barrel in New York. The oil prices rose after the gains of U.S. equities signaled that the demand would grow. The Standard & Poorâs 500 Index rose by 2.4 percent yesterday and the Dow … “Rising Oil Prices Pushed Russian Ruble Higher”
Month: June 2010
3 Psychological Tendencies That Cripple Traders And How To
Guest post by Jason Madison of beatwallstreetnow.com In the world of trading we often spend too much time worrying about signals and news releases that we often overlook the most important aspect of being a successful trader which is to develop the proper mindset. This is more important than what methods you choose to use in … “3 Psychological Tendencies That Cripple Traders And How To”
Euro Regained Its Strength on Good Stock Markets
The euro pared its losses and extended the rally against the U.S. dollar and the Japanese yen as the global stock markets showed the good performance, spurring the appetite for the risk. The Standard & Poorâs 500 Index rose 2.4 percent to the highest level in almost a month. The gains on the stock markets encouraged the investors to end bet on the currency’s decline and improved their risk sentiment. The European stock markets also experienced the large inflow of the fresh money, which … “Euro Regained Its Strength on Good Stock Markets”
Canadian Dollar Rose with Equities & Oil
The Canadian dollar rose today, erasing the previous losses against the U.S. dollar and the Japanese yen, on the speculations that the central bank will raise the interest rates and after the equities and crude oil gained. The Standard & Poorâs 500 Index, with which the Canadian currency is strongly correlated, rose by 1.4 percent. July delivery for crude oil, the key Canada’s export, jumped as much as 2.1 percent to $76.70 per barrel. The Bank … “Canadian Dollar Rose with Equities & Oil”
Lower Greece’s Credit Rating Drives Rupee Down
The Indian rupee went down today after Moodyâs Investors Service reduced Greece’s credit rating, refueling the concerns that the problems in Europe will slow the global economic recovery. The reason for the concerns are the austerity measures, taken by Greece, as well as by other EU countries, which may have unwelcome effect on the European nations’ economic growth. The European troubles may have adverse effect on the capital flows to the emerging markets, that’s why … “Lower Greece’s Credit Rating Drives Rupee Down”
Euro’s Rally Halted After Greece’s Credit Rating Dropped
The euro halted its rally against the U.S. dollar and the Japanese yen today as the fears that the European debt crisis will spread resurfaced after Moodyâs Investors Service reduced Greece’s credit rating. Moodyâs reduced Greeceâs credit rating from A3 grade to Ba1 (non-investment) yesterday as the austerity measures, taken by the Greek government to receive the bailout, threaten to cripple the nation’s economic growth. The forecast that the confidence of the German investors may … “Euro’s Rally Halted After Greece’s Credit Rating Dropped”
Spain’s Credit Freeze Weighs on Euro
The European leaders can deny a multi-billion rescue package for Spain, but the wheels are already in motion – foreign banks refuse lending money to Spanish banks, and the government may be unable to supply the liquidity. EUR/USD is also in a downwards motion, ending the short lived party. Also the ZEW Economic Sentiment was … “Spain’s Credit Freeze Weighs on Euro”
Strong New Zealand Dollar Makes Alan Bollard Unhappy
The New Zealand dollar extended its rally today, making Alan Bollard, the governor of the Reserve Bank of New Zealand, unhappy as he worries that the strong currency impedes the economic recovery. The currency’s appreciation in 2009 already decreased the exports, which make up 30 percent of the nation’s economy. Bollard predicted that the current account deficit would rise from 3.3 percent of gross domestic product as of March 2010 to 7.2 percent … “Strong New Zealand Dollar Makes Alan Bollard Unhappy”
Positive Forecasts for Pound Brought Currency Higher
The Great Pound strengthened today, erasing its losses against the U.S. dollar and the Japanese yen, amid the speculations that the central bank will raise the interest rates after forecasts promised that the economic growth would accelerate and the budget deficit would be decreased. The Bank of England was keeping the key rate at the record low level for 16 months even as the inflation exceeded the governmentâs upper limit. The inflation reached 3.7 percent … “Positive Forecasts for Pound Brought Currency Higher”
Euro Strengthens as Industrial Production Expands
The euro strengthened today against the U.S. dollar and the Japanese yen as the report was released, showing that the industrial production grew in the European Union. Eurostat, the statistical office of the European Union, reported that in April 2010 compared with March 2010, seasonally adjusted industrial production grew by 0.5% in the European Union and by 0.8% in the euro area. The European Central Bank reassured that it would continue purchases of the government bonds until the sovereign-debt … “Euro Strengthens as Industrial Production Expands”