The Canadian dollar extended its decline for the second day as the poor macroeconomic data continues to undermine the attractiveness of the currency to the global investors. This month can be the worst for the Canadian currency since June 2009. Canada’s gross domestic product grew 0.2 percent in June, less than some analyst predicted. The real gross domestic product grew by 0.5% in the second quarter, after increasing by 1.4% in the first quarter. The reports also showed … “CAD Extends Decline, Economy Shows No Signs of Improvement”
Month: August 2010
Thai Baht Demonstrates Best Performance Since February 2008
The Thai baht strengthened today, showing this month the best performance since February 2008, after the central bank raised the borrowing costs and as the pace of the nation’s economic growth was the fastest in 15 years. The Bank of Thailand raised the borrowing costs last week for the second time this year. The policy makers suggested that the rates remain “very low compared to the economic growth even after the increase”. The nation’s gross domestic product … “Thai Baht Demonstrates Best Performance Since February 2008”
South Korean Won Drops on Concern for Lower Export Demand
The South Korean won dropped today on the concern that the slower economic growth in the US would diminish the demand for the Asian exports. The US is the third biggest foreign market for South Korea. The personal income in the US rose 0.2 percent, less than predicted value of 0.3 percent. The nation’s industrial production expanded 15.5 percent in July, slower than in June (17.7 percent). The won remains the worst performing currency among the Asian … “South Korean Won Drops on Concern for Lower Export Demand”
Forex Leverage Limit 50:1 – Will US Traders Run Away?
It took the CFTC a lot of time, but they finally finalized their ruling for forex: leverage will be limited to 50:1 on major currencies, and 20:1 on minors. The pressure against the initial 10:1 proposal worked, but the industry will still change. American traders: Will you stay with your American broker? In January, the … “Forex Leverage Limit 50:1 – Will US Traders Run Away?”
Signs of Canadian Economy’s Weakness Push Loonie Down
The Canadian dollar fell today as the macroeconomic data slashed the forecasts for Canada’s economic expansion and curbed the demand for the Canadian currency. This month can become the worst month for the loonie since May 2010. The Canadian economy, which was previously considered very stable, continues to show the signs of weakness. The current account deficit widened by $2.6 billion to reach C$11.0 billion in the second quarter, compared to the forecast value of C$10.2 billion. The Industrial Product … “Signs of Canadian Economy’s Weakness Push Loonie Down”
Fundamental Overview – Market Movers Last Week –
The U.S. Dollar turned in a mixed performance last week without moving much against any of the other major currencies. Traders reported that the primary boost to the Dollar’s fortunes versus the Euro and Pound Sterling was the news out last Tuesday that the Standard and Poor’s rating agency had downgraded Ireland’s sovereign debt from … “Fundamental Overview – Market Movers Last Week –”
![[Video] Yen Intervention, Euro Bears and Aussie Action](https://investinearth.org/wp-content/uploads/2010/08/forexcrunch-logo-351x185-4.jpg){kind=logo}
[Video] Yen Intervention, Euro Bears and Aussie Action
In the weekly interview on Forex TV, I spoke with Julie Sinha about this busy week with Non-Farm Payrolls providing the big bang.. There are still chances of a coordinated intervention in the Japanese yen, the Euro bears are getting stronger on risk aversive trading and the Aussie expects a very busy week, with upside … “[Video] Yen Intervention, Euro Bears and Aussie Action”
Pound Rises vs. Euro, Falls vs. Dollar & Yen
The Great Britain pound rose against the euro at the start of today’s Forex trading session after the British Chambers of Commerce raised its forecast for Britain’s economic growth in this and the next years. The sterling fell later but currently is rising again. Britain’s currency fell versus the US dollar and the Japanese yen. Britain’s economy looks more stable than economies of other European countries as it’s not burdened by the debt crisis. … “Pound Rises vs. Euro, Falls vs. Dollar & Yen”
NZ Dollar Falls on Trade Deficit and Economic Concerns
The speculation that Japan’s policy makers wouldn’t be able to limit the yen’s gains pushed the New Zealand dollar down against the Japanese currency; the kiwi (as the NZD nicknamed) also fell against the US dollar as New Zealand trade balance posted the deficit for the first time in seven months. The Bank of Japan‘s decision to intervene in order to support the nation’s economy reflects the concerns for the growth of the advance economies across the world. The New Zealand economy … “NZ Dollar Falls on Trade Deficit and Economic Concerns”
Yen Rises as BOJ May Fail to Limit Currency’s Gains
The Japanese yen rose today as the traders don’t believe that the intervention by the Bank of Japan would be able to keep Japan’s currency from rising further. Japan’s officials stressed the necessity to limit the gains of the yen, which may hurt the nation’s export-driven economy. The traders don’t think that the Japanese makers would be able to stem the currency’s appreciation without the help from the US and Europe, and such help is unlikely as the nations … “Yen Rises as BOJ May Fail to Limit Currency’s Gains”