The US dollar performance was abysmal this week as concern about the slowdown of the US economic growth persists and even the good news weren’t able to weaken the fears. The dollar fell versus all other major currencies this month. The manufacturing sector showed the signs of the weakness and the GDP slumped in the second quarter of 2010. It’s not surprising that the reports show that the consumer sentiment steadily declines. The Americans are also worried … “Very Bad Week for US Currency”
Month: July 2010
Franc Rises Against Euro on Signs of Improving Economy
The Swiss franc rose reached today the highest level this week against the euro after the leading economic indicators remained at the highest level in almost four years. The KOF Economic Barometer remained at 2.23 in July, the highest level since September 2006. The currency was also bolstered by the speculation that the Swiss National Bank began selling its dollar reserves. Daragh Maher, deputy head of global currency strategy at Credit Agricole … “Franc Rises Against Euro on Signs of Improving Economy”
Dollar Weakens vs. Yen & Pound on GDP & Confidence Reports
The US dollar fell against the Japanese yen today to the lowest level since November 2009 after the economic report suggested that the US economic growth slows, decreasing the appeal of the US currency. The growth of the gross domestic product slowed in the second quarter of this year to the annual rate of 2.4 percent from the growth of 3.7 percent in the first quarter. The University of Michigan index of the U.S. consumer sentiment dropped sharply from 76.0 in June … “Dollar Weakens vs. Yen & Pound on GDP & Confidence Reports”
Indian Rupee Boosted by Increase of Interest Rates
The Indian rupee rose today after the central bank increased the interest rates for the fourth time this year, raising the yield on local assets. The Reserve Bank of India raised the overnight borrowing rate by 50 basis points on July 27. The yield on the Indian securities maturing in 10 years rose to 7.8 percent. The currency also strengthened as the government plans to sell its shares of Engineers India Ltd. USD/INR fell to 46.5350 from 46.5370 … “Indian Rupee Boosted by Increase of Interest Rates”
Brazil’s Real Rises on Better Consumer Sentiment
The Brazilian real advanced today against the euro on the speculation that demand for the South American exports would grow as the European economic outlook brightened. The currency declined versus the greenback. The index of consumer sentiment in the countries of the Eurozone rose from 99 to 101.3 in June. The resulting appetite for the risk on the markets helped the riskier currencies, including the real, to gain. USD/BRL rose to as 1.7600 of 8:50 GMT after opening at 1.7580. EUR/BRL traded at 2.2921 after it … “Brazil’s Real Rises on Better Consumer Sentiment”
You Wouldn’t Go To War Without A Plan… So Why
Guest post from visionsofaffluence.com When most of us start out in the trading business we view it as the path to quick riches. We think that all we have to do is find a indicator, slap it on a chart and then voila we will be transformed into expert traders. This couldn’t be further than the … “You Wouldn’t Go To War Without A Plan… So Why”
Loonie Rises vs. Greenback, Falls vs. Euro
The Canadian dollar rose against its U.S. counterpart after two days of decline as demand for the crude oil, the main Canada’s export, increased and the commodity prices rallied. The loonie performed not so well against other currencies, including the euro, against which Canada’s currency continued to fall. The S&P 500 Index dropped 0.8 percent. The decline of the stocks usually followed by the decline of the loonie, but this time the effect of the falling equities … “Loonie Rises vs. Greenback, Falls vs. Euro”
Yen Strengthens vs. Dollar on Increasing Growth Concern
The Japanese yen rose today against the U.S. currency as the growing concern for the global recovery spurs the investors to seek safety, increasing the appeal of the Japanese currency. The U.S. economy continues to show the sings of the weakness. While the banking sector in Europe looks pretty robust, the manufacturing sector gives the reason for the concern. According to the experts’ estimates, the manufacturing confidence in the Eurozone was minus five in July. USD/JPY fell from 87.44 to about 87.17 today as of 8:58 … “Yen Strengthens vs. Dollar on Increasing Growth Concern”
Euro Rises vs. Dollar as U.S. Economy Shows Signs of Weakness
The euro rose against the U.S. dollar today on the concern for the U.S. economic recovery, which decreased the appeal of the U.S. currency for the investors and increased the attractiveness of the shared European currency. The euro regained some of its strength after the stress tests showed that only seven European banks required to raise capital. In the same time, the U.S. gives more and more reasons for the concern about its economic growth. The analysts’ estimates say that the gross … “Euro Rises vs. Dollar as U.S. Economy Shows Signs of Weakness”
How to Make Profitable Entries in Your Forex Trading
Guest post by Kris Matthews tradeforexfundamentally.com Have you ever put a trade on after seeing the market run nicely in one direction only to see the market immediately move in the opposite direction? Have you ever waited for a pair to come down to a specific price level that you were certain would hold, only … “How to Make Profitable Entries in Your Forex Trading”