The euro reached the highest level in five months against the US dollar today on the speculation that the European Central Bank will raise the interest rates on the next meeting of its policy makers. The currency currently retreated closer to the opening level. Both European Central Bank Executive Board member Gertrude Tumpel-Gugerell and Governing Council member Yves Mersch spoke yesterday about the necessity to contain the inflation. Jeremy Stretch, executive director of foreign-exchange … “Euro Rises as Traders Await Interest Rates Hike by ECB”
Month: March 2011
The Aussie: down but never out
You only have to look at AUD/JPY to see the huge turn-around in the fortunes of the Aussie so far this week to see how resilient the Australian currency is proving to be. Around two thirds of the Aussie’s near 8% depreciation vs. the yen has been reversed, aided by a stabilisation of events in … “The Aussie: down but never out”
Monaco FC Sponsored by FXPro
Sports and forex trading go well together. FXPro, which already sponsors football (soccer) clubs in the UK’s premiership league and also in Formula One racing, just announced that will sponsor Monaco FC, which is a senior team in the French league. FXPro is based in Cyprus and has offices in various places worldwide, including the … “Monaco FC Sponsored by FXPro”
GOLD Ready To Gain Towards 1460
Gold recovered quite nicely since the market found the support at 1380 region. You will notice that commodity made only a 3-wave retrace from the recent highs. We know that only corrections are structured by three waves and as such new highs should follow in sessions and days ahead, since corrections always appear against the … “GOLD Ready To Gain Towards 1460”
Australian Dollar Falls as Oil Rises
The Australian dollar ended its rally against the yen today on the concern that the jump of oil prices will derail the global economic recovery. The Australian currency, often called the Aussies, rose earlier as concerns about radiation threat in Japan eased and on the speculation that Libya’s leader Muammar al-Gaddafi will talk with the rebels to attempt a peaceful resolution of the conflict. The air strike at Libya by the coalition forces scrapped the optimism about the situation in Libya … “Australian Dollar Falls as Oil Rises”
Canadian Dollar Gains as Crude Oil Rises
The Canadian dollar went up as the renewed concern that the tensions in Libya, as well as in the other countries of the region, will disrupt supplies of crude oil bolstered the commodity. The allied air strikes in Libya can prevent the country from exporting oil. April delivery for crude rose as much as 2.3 percent to $103.35 per barrel in New York. Crude oil is the main Canadian export. The Canadian currency also rallied against the Japanese yen … “Canadian Dollar Gains as Crude Oil Rises”
Can Euro’s Rally Run Out of Steam?
The euro surged last week as the European leaders made some preliminary agreements about resolving the sovereign debt crisis. The improving sentiment about the ability of Japan to recover from the disaster also helped the currency. Can the shared European currency maintain its upward momentum this week? The global situation looks positive for the euro. The good outlook for Japanâs recovery after the earthquake and the tsunami, as well as hope that the danger from the damaged nuclear … “Can Euro’s Rally Run Out of Steam?”
Khamis Gaddafi Killed? Could be a Turning Point
There are unconfirmed reports that Khamis Gadaffi, the son of Libyan ruler Muammar Gaddafi, was killed during the recent fighting in the the country’s civil war. Some reports claim that young Gaddafi, the commander of the “Khamis brigade” was killed by an air strike made by the international coalition. Other reports state that a suicide … “Khamis Gaddafi Killed? Could be a Turning Point”
NZ Dollar Strengthens as Concern About Japanese Crisis Eases
The New Zealand dollar gained today, rising for the third consecutive session versus its US counterpart, as the Japanese specialists are making progress in getting the reactors of the damaged nuclear plant under control. Japan’s Prime Minister Naoto Kan said today that the workers made progress in restoring power to the reactors at the damaged Fukushima Dai-Ichi nuclear plant and that he sees “light at the end of the tunnel” for Japan’s crisis. The MSCI Asia Pacific … “NZ Dollar Strengthens as Concern About Japanese Crisis Eases”
Yen Falls Further as Intervention Continues
The Japanese yen extended its decline today, falling for the third straight day, as the nations of the Group of Seven continued selling of the yen to weaken the currency. The yen surged earlier as the disaster in Japan spurred demand for safer currencies. The excessively strong currency could pose danger to Japan’s economy, prompting the G7, which consists of the US, Japan, Germany, the UK, France, Canada, and Italy, to intervene. The market participants expect the joint action to have strong impact … “Yen Falls Further as Intervention Continues”