The South Korean won rose today to highest level in almost seven weeks as the inflows of foreign funds help the economy of South Korea, making the nation’s assets more attractive. The Bank of Korea reported that the South Korean gross domestic product advanced 0.5 percent in the fourth quarter of 2010, confirming the previous estimate. The government report this week is expected to show that the inflation accelerated to 4.8 percent in March, the highest level … “Expanding South Korean Economy Increases Appeal of Won”
Month: March 2011
GBP/JPY Rises with Retail Sales & Services
The Great Britain pound climbed today versus the Japanese yen after the reports today showed that Britain’s retail sales and services industries improved, renewing the talks about the possible interest rates hike. The currency also gained against the US dollar, but lost most of its gains by now. The Confederation of British Industry Distributive Trades Survey showed that there were 15 percent more retail traders whose volume … “GBP/JPY Rises with Retail Sales & Services”
ForexStreet.Net – Well Designed, Mature Forex Social Network
FXStreet’s social network is gaining traction after a quiet launch. It’s integration with other social networks, backing of a major forex portal and the excellent and intuitive design all make it worth checking out. Here’s a review of ForexStreet.Net. ForexStreet.Net is based on Ning, a platform for social networks that you might have seen elsewhere on … “ForexStreet.Net – Well Designed, Mature Forex Social Network”
FX Crosses Video: Is Euro headed lower against the
Hello traders! The FX market has seen some powerful moves over the past few days especially on Aud/Usd, which reached new highs around 1.0300. Well, Australian dollar has also strengthened against the other currencies as well, such as Eur per example, since Eur/Usd remained trapped in 220 pip range. The Eur/Aud lost 700 pips in … “FX Crosses Video: Is Euro headed lower against the”
FXCM Takeover? Not so Fast
Mere speculation about FXCM being bought out sent the stock price way up, but as Michael Greenberg reports here, there is nothing behind these talks, and there’s actually no basis for an acquisition of FXCM, perhaps an acquisition of another forex broker by FXCM. Here’s a quote from the article: This speculative list was published … “FXCM Takeover? Not so Fast”
AUD/USD At Resistance, Pull-back to come
AUD/USD reached new highs during Asian session, and now we have five waves up from the 0.9700 lows. We don’t know which degree this impulse is, maybe wave 1) of wave (5), or maybe the pair is already trading on the end of a bull market. However, what we want to point out is that … “AUD/USD At Resistance, Pull-back to come”
Aussie Dollar Reaches New Record vs. US Dollar
The Australian dollar decided that its rally doesn’t need to stop and continued its ascent, posting the new record high versus the US dollar. The reason for the rally of the Aussie is the same as for other commodity currencies â the advancing prices for raw materials, caused by the prospect of the economic recovery. Analysts predicted that the factory orders in the US rose 1.1 percent in February. Forecasts also promise the report on April 1 will show that … “Aussie Dollar Reaches New Record vs. US Dollar”
Trade Surplus Makes New Zealand Dollar Stronger
The New Zealand dollar advanced today after the nation’s traded balance posted a surplus for the first time in eight months as commodity prices continue to advance. The New Zealand trade balance posted the surplus of NZ$194 million in February. The reading was definitely better compared to the January decrease by NZ$3 million, but still somewhat lower than the forecast NZ$238 million. The exports rose $550 million, while the imports increased $684 million. The major … “Trade Surplus Makes New Zealand Dollar Stronger”
South Korean Won Becomes Stronger with Better Global Economy
The South Korean won rose today on the forecast that the influence of the global economic recovery will outweigh the negative impact of the earthquake and the radiation leak in Japan. The Kospi stock index gained 0.8 percent, reaching the highest level since February 7, as the number of investors who bought the Korean stocks exceeded the number of sellers for the ninth consecutive day. The won weakened earlier as the growing level of radiation was detected at the damaged Fukushima Dai-Ichi plant, … “South Korean Won Becomes Stronger with Better Global Economy”
Japan’s Nuclear Operator Could be Nationalized – Weighs on
Following the horrific earthquake and the nuclear catastrophe that followed, Japan’s nuclear power operator, Tepco, might find itself in the hands of the government. As Tepco’s finances were never too good anyway, there are growing talks about nationalization. Here are some of the talks: “Naturally it is possible that there will be various debates about … “Japan’s Nuclear Operator Could be Nationalized – Weighs on”