The Great Britain pound went up today as the European Central Bank supported plan for rollover of the Greek bonds and after the report showed that the UK house prices increased in May. The Halifax house price index rose 0.1 percent in May, following the 1.4 percent decline in April. The sterling also rose as the ECB support of Greece spurred equities. The Standard & Poorâs 500 Index gained 0.5 percent, while the FTSE 100 … “Pound Gains as ECB Helps Greece & House Prices Rise”
Month: June 2011
Korea’s Won Slips on US Economy
The South Korean won fell today on the speculation that the slowdown of the US economy will deter investors from higher-yielding assets. Last week the US non-farm payrolls, which grew in May with the slowest pace in eight months, and the unexpected increase of the unemployment claims erased attractiveness of riskier currencies and the influence of the unfavorable data is still felt today. Finance Minister Bahk Jae Wan claimed that the won is influenced by economic … “Korea’s Won Slips on US Economy”
Currensee Trade Leaders Profitability Rate Significantly High
I have had the chance to chat with the Dave Lemont, CEO of Currensee, about recent developments and achievements, future plans and how their investment offering differs from the rest of the market. Currensee is the first forex social network, and in recent months it has been focusing on its Trade Leaders Investment Program. The … “Currensee Trade Leaders Profitability Rate Significantly High”
AUD/USD: Trading the Home Loans Release
After the dust from the rate hike has settled, the Aussie’s busy week continues with a less complex release: home loans. This publication always rocks the Australian dollar. Here are the details, and 5 possible outcomes for the AUD/USD. Published: Wednesday, 1:30 GMT. Indicator Background Most people need a loan from the bank in order … “AUD/USD: Trading the Home Loans Release”
Australian Dollar Erases Gains as RBA Holds Rates
The Australian dollar erased yesterday’s gains today after the Reserve Bank of Australia left its benchmark interest rate unchanged and signaled that it’s content with the current level of borrowing costs. Australia’s central bank maintained its cash rate target at 4.75 percent. The bank kept the rate unchanged since November 2010, when RBA raised the benchmark by 25 basis points. This decision was expected by market participants. … “Australian Dollar Erases Gains as RBA Holds Rates”
Euro Gains as ECB Reveals Plans to Support Greece
The euro rose today after it reached the highest level in a month against the US dollar as the European Central Bank plans to take actions to help Greece avoid default. ECB President Jean-Claude Trichet announced that the bank plans to take measures to encourage investors to buy new Greek bonds that would replace maturing securities. Trichet said that the bank doesn’t want to impose losses on creditors. Saying that, he … “Euro Gains as ECB Reveals Plans to Support Greece”
Australian Dollar Gets Boost from Carry Traders
The Australian dollar advanced today on the speculation that the poor performance of the US economy will boost carry trades, increasing attractiveness of the currency. Carry trade involves borrowing in countries with low interest rates and investing in nations with high interest rates. The bad shape of the US economy will force the nation’s central bank to keep borrowing rates low, thus allowing investors to borrow in the US and come to Australia, which has relatively … “Australian Dollar Gets Boost from Carry Traders”
Gold Remains Bullish, USD/JPY Under Pressure
GOLD Holds On To Its Bullish Tone GOLD: Outlook for Gold still remains higher despite its marginal higher close the past week. Further strength is expected to recapture the 1,576.20 level, its 2011 high where a break will resume its long term uptrend and open the door for more gains towards its psycho level at … “Gold Remains Bullish, USD/JPY Under Pressure”
Worries About Europe Ease, Indonesian Rupiah Gains
The Indonesian rupiah strengthened today as concerns about the European debt crisis eased, increasing appeal of riskier currencies. Bank Indonesia will meet on June 9 to discuss its key interest rate. The bank increased the rate by 25 basis points to 6.75 percent in February and was keeping it unchanged ever since. The Central Bureau of Statistics reported last week that the Indonesian inflation decreased in May for a fourth month, falling below … “Worries About Europe Ease, Indonesian Rupiah Gains”
Can Further Weakness On Stocks Finally Support The US
The Us dollar was mostly flat against the majors during the Asian hours, but we can already see some strenght now, as European stocks trade lower. Well, trading in this week should be quite interesting, to see how broken correlation between Eur/Usd and the equity market will play out, which was broken in the past … “Can Further Weakness On Stocks Finally Support The US”