The Japanese government intervened today in order to stop the gains of Japan’s currency, despite the candidate, who insisted on the intervention, lost the election as the head of the ruling party. Yoshihiko Noda, the Minister of Finance, announced that Japan unilaterally sold yen today. Masaaki Shirakawa, the Governor of the Bank of Japan, said in his statement he hopes the intervention would stabilize the foreign exchange market. Yoshito Sengoku, the Chief Cabinet Secretary, claimed that the Finance Ministry … “Intervention of Japan’s Government Sends Yen Tumbling Down”
Month: September 2010
5 Reasons Why The Yen Intervention Will Hold
The massive intervention by the BOJ to weaken the yen sent USD/JPY more than 200 pips higher. The move is far from over. The first intervention in 6 years comes after months of failed verbal intervention. Here are 5 reasons why this move will be powerful. There are significant differences between the failed interventions by … “5 Reasons Why The Yen Intervention Will Hold”
EUR/USD Sep. 15- Slipping After the Goldman Move
EUR/USD shot up on Goldman’s speculation about more dollar printing. After conquering 1.30, it slipped back down. Today’s events can supply lots of action. Here is a quick update on fundamentals, technicals, and community trends. EUR/USD flirting with 1.30. Click to enlarge. EUR/USD Technicals Asian session: EUR/USD slipped lower during Asian session. Current Range is … “EUR/USD Sep. 15- Slipping After the Goldman Move”
Loonie Strengthens vs. Greenback on Outlook for Interest Rates
The Canadian dollar reached today the highest level in almost six weeks against the US dollar on the outlook that the central bank would continue to raise the interest rates. The currency slipped versus the euro as doubts about the strength of the US economy remains, which is bad for the Canadian currency as the US is the major trading partner of Canada. The loonie also rose after the Basel Committee on Banking Supervision gave lenders enough time to comply … “Loonie Strengthens vs. Greenback on Outlook for Interest Rates”
Yuan Rises to Highest Level Since 1993 vs. US Dollar
The Chinese yuan reached the strongest level since 1993 versus the US dollar today on the speculation that China’s government would allow the faster appreciation of the currency to avoid the trade sanctions from the US. Lu Ting, the economist at the Bank of America-Merrill Lynch explained: China doesnât want to see the relationship with the U.S. get hurt because of the currency issue. There will be more space for yuan appreciation also because signs show … “Yuan Rises to Highest Level Since 1993 vs. US Dollar”
Barrier Options Now Available on StartOptions
Together with the evolution of forex trading, also binary options are evolving – StartOptions is now offering Barrier Options. These hourly options have a 300% return rate when the option expires “in the money” – if the barrier level has been reached at expiry. This new product came after many traders on the platform … “Barrier Options Now Available on StartOptions”
Swiss Franc Reaches Parity with US Dollar as Growth Concerns Rise
The Swiss franc reached parity with the US dollar today for the first time since December 4th 2009 as the demand for the safety grew on the concerns for the global recovery and the stocks declined. The German ZEW Economic Sentiment slipped from as much as 18.3 point from 14.0 to -4.3 in September. The reading below zero indicates pessimism. Axel Weber, the president of the Deutsche Bundesbank, said that the European policy makers “shouldnât be tempted to call an end” … “Swiss Franc Reaches Parity with US Dollar as Growth Concerns Rise”
Yen Rises As Kan Wins DPJ Vote, Intervention Unlikely
The Japanese yen strengthened today after Naoto Kan, the Prime Minister of Japan, won the vote of the Democratic Party of Japan, beating his rival Ichiro Ozawa. Ozawa stated last week that the government needs to intervene in order to prevent the yen’s appreciation as the stronger currency hurt the exports, making them more expensive. The Kan’s government is considered too weak to intervene in the market. The yen also gained after the bad economic data … “Yen Rises As Kan Wins DPJ Vote, Intervention Unlikely”
Swiss Franc Goes Down as China’s Industrial Output Grows
The positive economic data from China caused the Swiss franc to depreciate against the euro, as the signs of the Chinese economic growth decreased the demand for the safety. The US dollar weakened versus the franc. The annual growth of the Chinese factory output was 13.9 percent in August. The good macroeconomic data from China boosted the equities, causing the MSCI World Index to rise 1.4 percent. The resulting optimism among the traders wasn’t good for the franc, as the investors tend … “Swiss Franc Goes Down as China’s Industrial Output Grows”
Fundamental Overview – Market Movers Last Week –
The U.S. Dollar put in a mixed performance last week against the other major currencies, falling against the Yen and commodity dollars, while rising significantly versus the European currencies that included both the Euro and the Pound Sterling. The most significant price action was seen last week against the Euro which fell considerably versus the … “Fundamental Overview – Market Movers Last Week –”