The Swiss franc jumped today, rising to the highest level in three weeks versus the US dollar, as the tensions in Middle East intensified, driving investors to the safer assets. Muammar al-Gaddafi, the leader of Libya since 1969, renounced rumors that he has fled from the country, engulfed in the protests. The spokesman of Ban Ki-moon, the Secretary-General of the United Nations, said that the Secretary-General was “outraged at press reports that the Libyan authorities have been firing … “Swiss Franc Gains on Tensions in Libya”
Month: February 2011
Trade Leaders Program – $2 billion Already Traded
Investment in forex traders is on the move – Currensee’s trade leaders program hit the $2 billion mark in traded volume. The program allows people to automatically trade following closely monitored trade leaders, as they would invest in mutual funds. The program was launched around 4 months ago, and is growing rapidly. The overall yield … “Trade Leaders Program – $2 billion Already Traded”
FXStreet to Manage Forex Crunch Advertising
I’m happy to announce that the advertising management of this site will be managed by the large and established forex portal FXStreet. The deal will begin in April. This will allow me and the rest of the members on Forex Crunch to dedicate more time to content, and to boost its growth. For FXStreet, already … “FXStreet to Manage Forex Crunch Advertising”
Thai Baht Gains as Economy Grows
The Thai baht gained today on the speculation that the policy makers won’t prevent the appreciation of the currency as the economic growth increases the inflation pressure. The report today showed that Thailand’s economy expanded in 2010 with the fastest pace since 1995. The fast economic growth of the Asian countries causes the imbalances in the global economy and the Asian governments may allow their currencies to appreciate and reduce the import gains. USD/THB fell from 30.5750 to 30.5450 as of 14:53 … “Thai Baht Gains as Economy Grows”
NZ Dollar Rises on Outlook for Higher Farmer Payouts
The New Zealand dollar rose today, touching the highest level in a week, on the speculation that Fonterra Cooperative Group Ltd. will increase the payouts to farmers, supporting the New Zealand economic recovery. Fonterra already increase the payment to farmers by 4.5 percent on December 10 because of higher overseas prices for whole milk powder. Fonterra may decide on tomorrow’s meeting to raise the payouts again, as the whole milk powder prices reached the highest level … “NZ Dollar Rises on Outlook for Higher Farmer Payouts”
Oil Prices Ready To Gain Towards and Above $93!?-Elliott
Oil prices are higher today after the anti-government protesters rallied in Tripoli’s streets, tribal leaders spoke out against long-time leader Muammar Gaddafi, and army units defected to the opposition as one of the bloodiest revolts in the region, CNBC reported. Oil moved lower in recent weeks, but technically speaking, prices were able to stay above … “Oil Prices Ready To Gain Towards and Above $93!?-Elliott”
Weekly Gains of Pound on Anticipation of Interest Rates Hike
The Great Britain pound strengthened this week on the speculations that the Bank of England will be required to raise the interest rates to curb the growing inflation. The BoE left its benchmark interest rates at the record low level of 0.5 percent on February 10. The bank keeps the stimulus to mitigate the effect of the budget cuts on the nation’s economy. Yet more and more policy makers voice concerns about such course of action and speak in favor of higher … “Weekly Gains of Pound on Anticipation of Interest Rates Hike”
Australian Dollar Rose on Stronger Commodities
The Australian dollar strengthened for the third day against its US counterpart as the commodities rallied, increasing demand for growth-related currencies. The currency declined against the euro and was unchanged versus the Japanese yen. The Thomson Reuters/Jefferies CRB Index advanced 0.4 percent. Silver and coffee posted the biggest gains. The commodities rally, as the analysts predicted, and commodity currencies, including the Aussie, follow them. Credit Suisse AG predicted that the Reserve Bank of New Zealand … “Australian Dollar Rose on Stronger Commodities”
Euro Rises as ECB Official Speaks in Favor of Interest Rates Hike
The euro advanced to the highest level in a week versus the US dollar today after member of the European Central Bank Executive Board Lorenzo Bini Smaghi said that the inflation pressure may force the bank to raise the interest rates. Bini Smaghi said: As the economy gradually recovers and global inflationary pressures arise, the degree of accommodation of monetary policy has to be monitored and, if needed, corrected. The ECB policy makers look worried … “Euro Rises as ECB Official Speaks in Favor of Interest Rates Hike”
Great Britain Pound Jumps as Retails Sales Grow
The Great Britain pound climbed today after the report showed that the retail sales in the UK advanced three times more than was forecast. Britain’s retail sales jumped 1.9 percent in January, compared to the predicted value of 0.6 percent. In December the sales declined 1.4 percent. The surge of the retail sales intensified the talks about the increase of the interest rates by the Bank of England. GBP/USD advanced from 1.6171 to 1.6231 today as of 16:50 GMT, … “Great Britain Pound Jumps as Retails Sales Grow”