The roller coaster week ended badly for the US dollar, as the US Dollar Index closed at the lowest levels since December 2009, just under the previous low. Will it bounce back up from here, or is it a fast roll downhill from here? 5 arguments for the dollar, and 5 against it. Background The … “5 Arguments for the Dollar, and 5 Against It”
Month: March 2011
French Planes Strike Libya
Following the UN’s decision to authorize air strikes in Libya, the French air force is see in the skies of Libya, and they probably began striking targets. In the 36 hours that followed the decision by the UN Security Council in New York, Gaddafi has declared a ceasefire, but his forces continued to advance rapidly … “French Planes Strike Libya”
Week of Volatile Unpredictable Moves of Yen
This week of volatility and uncertainty for the yen ended and its time to gauge the performance of the currency. And it’s truly a hard endeavor as the Japanese currency posted a weekly gain against some majors, a weekly loss versus others and even ended flat against the pound after the mind-boggling swings. The yen posted huge gains in the first half of the week as the series of disasters spurred the wave of demand for safety. The earthquake followed by the tsunami and the resulting threat of a radiation leak … “Week of Volatile Unpredictable Moves of Yen”
Forex Trib Launches Forex Bookstore
The new forex site, FrexTrib, continues to expand and introduce new features. They now launch an online bookstore dedicated to forex books. The variety contains both technical and fundamental aspects among others. Here are more details: 18th 2011 – In its search to bring more added value to forex traders, Forex Trib (ForexTrib.com) introduces its … “Forex Trib Launches Forex Bookstore”
Sterling Drops vs. Euro on Weak Consumer Confidence
The Great Britain pound fell against the euro today as the report showed that the consumer confidence worsened in February to the record low. The currency rose versus the US dollar and the Japanese yen. The consumer confidence index of the Nationwide Building Society dropped from 48 to 38 in February. That’s the lowest level since the survey began in May 2004. Market participants expected the index to remain unchanged. The poor consumer sentiment spurred talks that the economic … “Sterling Drops vs. Euro on Weak Consumer Confidence”
Canadian Dollar Climbs vs. Yen on Intervention
The Canadian dollar surged today against the Japanese yen the most in 10 months after the nations of Group of Seven, including Canada agreed to intervene in order to weaken the Japanese currency. The Canadian currency fell versus the euro and fluctuated against the US dollar. The G-7 nations agreed to help Japan to recover after the earthquake that happened on March 11. One of the measures to aid the country was the intervention as a strong currency could derail the recovery of Japan’s … “Canadian Dollar Climbs vs. Yen on Intervention”
FXCM Wishes to Buy Forex Brokers
Drew Niv, the CEO of FXCM, declared that he wishes to use the company’s vast amount of cash in order to acquire forex brokers. With growing regulation, it will be hard for small brokers to operate. Big brokers have the resources to deal with the regulation, and they can enjoy the growing popularity of forex … “FXCM Wishes to Buy Forex Brokers”
G-7 Will Help Japan, South Korean Won Gains
The South Korean jumped to the highest level in six weeks today as the Group of Seven nations agreed to help Japan to deal with the aftermath of the earthquake, the tsunami and the radiation leak. The Statement of G7 Finance Ministers and Central Bank Governors, released today, said: In response to recent movements in the exchange rate of the yen associated with the tragic events in Japan, and at the request of the Japanese authorities, the authorities of the United States, the United Kingdom, Canada, and the European Central Bank will … “G-7 Will Help Japan, South Korean Won Gains”
Yen Slumps Because of Intervention
The Japanese yen tumbled today, posting the biggest decline in more than two years, as the nations of the Group of Seven announced that they will jointly intervene in the foreign-exchange markets. Japan’s Finance Minister Yoshihiko Noda said that his country intervened and other nations would do the same when their markets would open. This is the first such intervention in more than a decade. Today’s slump of the yen was biggest … “Yen Slumps Because of Intervention”
Canadian Dollar Rallies with Commodities
The Canadian dollar gained today as commodities, including crude oil, the main export of Canada, rallied amid the speculation that the global recovery is accelerating. April delivery for crude oil rose 3.5 percent to $101.40 per barrel in New York on concerns that the tension in Middle East and North Africa will disrupt supplies of crude. The Thomson Reuters/Jefferies CRB Index of raw materials gained as much as 3.3 percent, the biggest intraday advance … “Canadian Dollar Rallies with Commodities”