The Great Britain pound dropped today after the report showed the decline of the house prices, signaling about the lack of the buyers’ confidence and the lack of the mortgages. The survey of Royal Institution of Chartered Surveyors showed that the surveyors reporting the prices decline exceeded by 36 percent those who reported about the increase of the prices in September. That’s compared with the previous reading of 32 percent reporting decrease. GBP/USD fell from 1.5881 to 1.5818 as of 10:20 GMT … “Pound Weakens as UK Houses Prices Decline”
Month: October 2010
Yuan Weakens on Threats of Trade Sanctions from US & Europe
The yuan touched the highest level versus the US dollar today in more than two years on the speculation that China would allow its currency appreciate as the US and Europe threaten to implement the trade sanctions. The wave of the interest rate cuts across the world caused the concerns about the so-called “currency war” as the nations attempts to weaken currencies to support their economies. On the annual meeting of the International Monetary Fund last week worries were voiced … “Yuan Weakens on Threats of Trade Sanctions from US & Europe”
Another Week of Dollar Weakness on Talks About Easing
This week was marked by the talks about the possible quantitative easing by the US Federal Reserve, the talks which were further fueled by the unexpectedly poor report about the US employment. In such environment the dollar has no choice but to go down. The unexpected cut of 95,000 jobs by the US employers added the incentive for the Fed to start next round of the bonds purchases to stimulate the US economy. The price of the US currency dropped as the traders expect … “Another Week of Dollar Weakness on Talks About Easing”
USD/JPY for First Time in 15 Years Below 82 on US Payrolls
The US dollar fell today against the Japanese yen to the lowest levels since 1995 as the nonfarm payrolls report was far worse than expected. The currency also fell versus the Great Britain pound and was declining versus the euro before rebounding and closing near the opening level. The nonfarm payrolls dropped 95,000 in September, following the 57,000 decline in July. The analysts expected the 1,000 growth. The nonfarm payrolls dropped remained at the same 9.6 … “USD/JPY for First Time in 15 Years Below 82 on US Payrolls”
Swiss Unemployment Drops, Franc Rise vs. Dollar & Euro
The Swiss franc fell versus the euro at the beginning of today’s trading session as the speculation the European Central Bank wouldn’t ease its monetary policy reduced the demand for the franc as the safe haven. The Swiss currency rose later after the report showed that the unemployment rate in Switzerland fell to the lowest level in more than a year. Jean-Claude Trichet, the president of the European Central Bank, said yesterday that “more than ever, exchange rates should … “Swiss Unemployment Drops, Franc Rise vs. Dollar & Euro”
6 Reasons Why EUR/USD Is Vulnerable
Despite the weak US jobs report, EUR/USD has lost some of its charm. Uptrend support is at risk, the chance for another round of QE is not that certain anymore, the failure to break higher and more, all make it vulnerable. Here goes: Uptrend support is at risk – EUR/USD fell towards this strong line … “6 Reasons Why EUR/USD Is Vulnerable”
Rand Falls After Finance Minister Says It’s Too Strong
The South African rand weakened today as the words of the South Africaâs Finance Minister about the rand being too strong outweighed the influence of the outlook for the good US unemployment reports today bolstering the higher-yielding assets. The rand has rallied 36 percent versus the US dollar since the beginning of the previous year as the low interest rates in the developed nations spurred the investors to loan at low interest rates for buying higher-yielding assets in the countries with low … “Rand Falls After Finance Minister Says It’s Too Strong”
Canadian Dollar Drops on Building Permits Report
The Canadian dollar fell today against 15 of 16 most traded currencies after the reports showed the building permits tumbled far below the expected value and on outlook for the slower employment growth in Canada. The building permits in Canada slumped 9.2 percent in August, compared to the 3.8 decline in July. The reading was much worse than even most pessimistic forecast, which expected the 1.9 percent drop. The report tomorrow expected to show the Canadian … “Canadian Dollar Drops on Building Permits Report”
Dollar Reaches Eight-Month Low vs. Euro & Pound, Drops vs. Yen
The US dollar fell today to the lowest level since February against the euro and the Great Britain pound before rebounding and extended its decline versus the Japanese yen. The dollar weakened on the speculation that the Federal Reserve would resume its purchases of the government debt to stimulate the US economy. The Dollar Index, which tracks the US currency versus the currencies of six major US trading partners, went up 0.3 percent to 77.63 after … “Dollar Reaches Eight-Month Low vs. Euro & Pound, Drops vs. Yen”
Pound Reaches Eight-Month Record as Rates Remain Unchanged
The Great Britain pound hit today the highest level since February against the US dollar after the central bank’s policy makers kept the interest rates unchanged and decided not to increase the purchases of the bond. Currently the currency declines. The Bank of Englandâs Monetary Policy Committee decided today to keep the official Bank Rate at 0.5% as was expected. The report today showed the manufacturing production output increased by 0.3 percent between July and August. … “Pound Reaches Eight-Month Record as Rates Remain Unchanged”