The South Korean won rose today, as well as other Asian currencies, after South Korea’s central bank increased its interest rates for the second time this year. The Bank of Korea raised its seven-day repurchase rate by 0.25 percentage point to 2.5 percent. The concerns remain that the government would take steps to trim the inflows of the foreign funds in the nation in order to prevent the consumer prices from rising. These concerns may … “South Korean Won Climbs as Central Bank Raises Interest Rates”
Month: November 2010
Australian Dollar Drops on Outlook for Interest Rates
The Australian dollar extended its losses against the US dollar today as the Asian stocks declined and on the speculation that the central bank would pause the interest rates increases. The Reserve Bank of Australia raised the cash rate by 0.25 percentage points to 4.75 percent on November 2nd. The analysts say that the minutes of the meeting, released today, suggest that the rates may be kept unchanged in the near future. The MSCI Asia Pacific Index of regional … “Australian Dollar Drops on Outlook for Interest Rates”
Netdania Adds Small Yet Important Improvements to Charts
Netdanaia, one of the best forex charts provider, recently made some small yet improvements to its finance charts. These improvements allow more flexibility and make their Finance Charts product easier to use. All the changes are visible in the image – click to enlarge. The first and most notable improvement is the addition of grid … “Netdania Adds Small Yet Important Improvements to Charts”
Dollar Gains on Europe’s Debt Concerns & US Retail Sales
The US dollar jumped today to the highest level in almost seven weeks against the euro as the concerns about the sovereign-debt continues to plague Europe and after the favorable economic data and the rising yield on the US Treasuries increased the appeal of the US currency. The discussion between Ireland and the European Union about the bailout continues. The markets clearly showed the necessity of the bailout by the rapid decline of the euro. The problem for the euro is that Ireland isn’t only country with the debt … “Dollar Gains on Europe’s Debt Concerns & US Retail Sales”
Pound Gains vs. Euro on Greece’s Debt Concerns, Falls vs. Dollar
The Great Britain pound strengthened today after the European Union’s officials raised the estimates of Greece’s debt, prompting the traders to seek the perceived safety of the UK currency. The pound slipped versus the US dollar. Greece’s budget deficit in the previous year was revised from 13.6 percent of the gross domestic product to 15.4 percent. The nationâs debt was revised from 115.1 percent of the GDP to 126.8 percent. The theme of Greece again returned to the news, … “Pound Gains vs. Euro on Greece’s Debt Concerns, Falls vs. Dollar”
![[Video] Weak Euro, Improving US Conditions and Technical Levels](https://investinearth.org/wp-content/uploads/2010/11/forexcrunch-logo-351x185-22.jpg){kind=logo}
[Video] Weak Euro, Improving US Conditions and Technical Levels
Euro bears are fueled with negative headlines in the debt-laden old continent. In the weekly interview on Forex TV, I spoke with Julie Sinha about the problems in Europe, the slightly improving conditions in the US and about technical levels to watch out for in EUR/USD, GBP/USD and USD/JPY. Enjoy! This is a busy week … “[Video] Weak Euro, Improving US Conditions and Technical Levels”
Slower Industrial Output Weakens Indian Rupee
The Indian rupee dropped to the lowest level in almost seven weeks against the US dollar today after the reports showed that the industrial production grew with the slower pace, causing the concern that the foreign capital inflows would dwindle. Industrial output grew 4.4 percent in September from a year ago, the smallest gain since May 2009, while the median forecast was the 6.4 percent increase. The analysts say that the impact … “Slower Industrial Output Weakens Indian Rupee”
Kiwi is Influenced by US & New Zealand Retail Sales
The New Zealand dollar fell today as the Asian stocks dropped and the concerns about another debt crisis in Europe decreased the attractiveness of the higher-yielding currencies. The New Zealand dollar also weakened on the speculation that the report will show the US retail sales increased, reducing the flow of the funds to the other markets. The currency jumped, reducing its losses, after the report showed that the retail sales in New Zealand itself grew 0.8 percent in September. … “Kiwi is Influenced by US & New Zealand Retail Sales”
Oil: Top In Place
Oil reversed very sharply from 88.50 area, and fell through the red support in the past week. Personality of a decline and a daily close below red line confirms that temporary top is in place and that prices are headed lower, towards the 82 region. As such, we will be looking for a three wave … “Oil: Top In Place”
Week of Weakness for Euro, Volatile Swings on Friday
This weak was marked by return of the concerns about Europe’s sovereign-debt crisis and the weakness of the euro. The currency rose on Friday slightly, but overall this was a bad week for the euro. With the quantitative easing happened in the US the attention of the traders returned to Europe. And it turned out that the economical situation there hasn’t improved much. Still the so-called peripheral economies remain burdened by the debt, still talks about Ireland’s bailout persist, … “Week of Weakness for Euro, Volatile Swings on Friday”