The Swiss franc rose to the highest level since March 2008 against the US dollar as the report showed that the consumer confidence in the US dropped, increasing the appeal of the Swiss currency as the safe haven. The franc also surged against the euro before retreating to the opening level. The consumer confidence retreated in September to 48.5 from 53.2 in August. That’s compared to the median forecast of 52.5. The prospect for more quantitative easing by the Federal Reserve also weakens the dollar … “Franc Heads to Record vs. Dollar”
Month: September 2010
Poor US Macroeconomic Reports Increase Appeal of Yen
The Japanese yen rose today to the highest level against the US dollar since the intervention as the US macroeconomic reports today were worse than most pessimistic forecast promised, increasing the attractiveness of the Japanese yen as the safe haven. The currency slipped against the euro. The Conference Board consumer confidence declined from 53.2 to 52.5 this month, while the traders expected the drop to only 48.5. The Richmond Fed Index of Manufacturing Activity tumbled 11 … “Poor US Macroeconomic Reports Increase Appeal of Yen”
Dollar Down vs. Euro on Outlook for Poor US Economic Reports
The US dollar weakened today against the euro, trimming the previous gains on the concerns about Europe’s economy, as the analysts expect the reports today to show that the house price declined and the consumer confidence deteriorated in the US. The analysts estimated that the Standard & Poor’s Case-Shiller House Price Index dropped from 4.2 percent to 3.1 percent in July. According to their predictions, the Conference Board consumer sentiment dropped from 53.5 to 52.5 in September. … “Dollar Down vs. Euro on Outlook for Poor US Economic Reports”
Concerns for Europe’s Economy Make Zloty Weaker
The Polish zloty fell today on the renewed concerns for the Europe’s fiscal condition and the ability to fight the budget deficits. For now the currency tries to regain its strength but encountered the resistance. The Standard & Poorâs said that the downgrades of the credit rating most likely would continue as the deficits and the demographics put pressure on the finances. It looks like Ireland now added to the list of countries, which are causing strongest concerns. USD/PLN traded near … “Concerns for Europe’s Economy Make Zloty Weaker”
Why Some Traders Almost Always Profit
Guest post from visionsofaffluence.com In this crazy business we call forex trading it may be difficult for some to imagine that anyone can remain profitable over the long haul. The markets themselves are often wildly unpredictable so much so that most people find it extremely difficult to be profitable on a single day let alone being … “Why Some Traders Almost Always Profit”
Fundamental Overview – Market Movers Last Week – 9/27/2010
The U.S. Dollar continued its slide against all the major currencies last week, extending the previous week’s losses. The U.S. Dollar Index lost -2.00 points last week to close under the psychological 80.00 level at 79.40, showing an overall loss of 2.46 percent on the week. By far, the most significant price action seen last … “Fundamental Overview – Market Movers Last Week – 9/27/2010”
Canadian Dollar Falls with Stocks & Oil Prices
The Canadian dollar fell today after the stocks and the crude oil prices declined, erasing the demand for the growth-related currencies, and as the speculation, that the Bank of Canada would refrain from rising the interest rates further, decreased the appeal of the Canadian currency. The Standard & Poorâs 500 Index fell 0.6 percent. November delivery for crude oil dropped as much as 1.3 percent to $75.52 per barrel on the New York Mercantile Exchange. The equities and the oil prices … “Canadian Dollar Falls with Stocks & Oil Prices”
Australian Dollar Near Two-Year High
The Australian dollar reached today the highest level in two years against its US counterpart as the improving market sentiment and the outlook for the increasing stimulus from the US Federal Reserve boosted the appeal of the riskier currencies. The MSCI Asia Pacific Index of shares climbed as much as 1.2 percent, the biggest gain in two weeks. The wagers indicate 66 percent chance of the interest rates increase by the central bank next week. The Australian dollar was second … “Australian Dollar Near Two-Year High”
Euro Goes Down on Concern for European Banks’ Health
The euro slipped today against the US dollar and the Japanese yen as the concern that the European banks would require to raise more funds damped demand to the European assets. The report this week shall tell how much it’ll be for Ireland to bailout Anglo Irish Bank Corp. Brian Lenihan, Ireland’s Minister for Finance, promised that the costs would be “manageable”. The government expects the bailout to cost about â¬22 billion, but … “Euro Goes Down on Concern for European Banks’ Health”
Second Week of Gains for Euro, Analysts Continue Forecast Decline
The euro rallied last week despite the grim forecasts. This week the currency extended its rally, most notably against the dollar, against which it rose to the highest level since April. The analysts remained largely unconvinced, though, and continue predict the weakening of the euro. It’s true that main reason for the euro’s strength against other currencies was the weakness of those currencies. The US dollar weakened after the Federal Reserve signaled … “Second Week of Gains for Euro, Analysts Continue Forecast Decline”