The Thai baht fell today on the concerns about the coming elections and on the negative influence of the economic situation in the European Union. Market participants are afraid that the election on July 3 will increase the political instability in the country. The baht declined 1.2 percent this month. That’s the worst performance against 10 major Asian currencies. USD/THB rose to 30.67 from 30.64 today as of 13:49 GMT. If you have any questions, comments or opinions … “Thai Baht Weak Ahead of Elections”
Month: June 2011
EUR/JPY Bearish, GBP/JPY Pressured Downwards
EURJPY: Bearish Momentum Remains Intact. EURJPY- The risk continues to point lower as EURJPY remains under pressure following its failure at the 117.77 level. A return below its Jun 16’2011 low at 113.42 is building up as a follow through lower on its Thursday losses is now seen. Guest post by www.fxtechstrategy.com On a decisive violation … “EUR/JPY Bearish, GBP/JPY Pressured Downwards”
US throws down the gauntlet to OPEC
On a day when Europe was again convulsing with the question of how to respond to the sovereign debt crisis, it was the decision of the International Energy Agency (IEA) to release 60m barrels of oil which really captured the attention of investors and traders. Brent crude, which yesterday morning was trading up at $114 … “US throws down the gauntlet to OPEC”
Canadian Dollar Flat After Decline, Gains vs. US Dollar
The Canadian dollar traded sideways after it fell yesterday as crude oil declined on the Federal Reserve cut its US growth forecast. The currency attempted to rally against the US dollar. Crude oil dropped after the International Energy Agency announced its plan to release oil from its strategic reserves and on prospects of higher output from Saudi Arabia. August futures for delivery of oil fell to $5.72 to $89.69 per barrel … “Canadian Dollar Flat After Decline, Gains vs. US Dollar”
Euro Falls as EU Leaders Discuss Greece
The euro went down before the end of the summit in Brussels today. The European Union leaders discussed the bailout for Greece and traders are uncertain about the possible decision. The European finance ministers will decide on July 3 whether Greece has done enough to receive aid. To get next part of the rescue planned rescue package the country should implement budget cuts and other measures to fix the economic imbalances. The problem is that the Greek … “Euro Falls as EU Leaders Discuss Greece”
Currensee’s Trade Leaders Program Reaches Significant Milestones
Currensee’s unique program that allows people to invest in forex trading like any other investment, has reached significant milestones: $6 billion in trading volume, $12 million under management and rises in the number of participants. This program is running since the end of 2010 and is gaining traction very nicely. The profitability rate of investors … “Currensee’s Trade Leaders Program Reaches Significant Milestones”
Pound Falls as Retail Sales Decline
The Great Britain pound dropped today for the second day as the retail sales retreated to the lowest level this year, supporting the outlook that the Bank of England maintain stimulus. The CBIâs Distributive Trades Survey posted the balance of -2 percent, the first negative value in a year. The expected reading was 11 percent. Reading above zero indicates growth of sales, below zero signals about decline. Together with yesterday’s BoE minutes the report … “Pound Falls as Retail Sales Decline”
Rand Weakens with Commodities on US Growth Forecast
The South African rand fell today for the second day as commodities weakened after the Federal Reserve slashed its US growth forecast. The Standard & Poorâs GSCI Index of raw materials fell for the first day in three and gold and platinum, which makes up 20 percent of the South African exports, dropped. The FTSE/JSE Africa All Share Index, the nationâs benchmark stock index, went down 0.8 percent. The Fed estimated this … “Rand Weakens with Commodities on US Growth Forecast”
New Greek Plan Already Has Holes?
Greek newspapers report that 3.8 billion euros are “missing” from the new Greek austerity plan. This was reported by Greek newspapers, quoted by a Greek LSE student, Matina Stevis, and is now weighing heavily on the euro. It’s probably an error on the revenue side. Is this plan too optimistic once again. The newly appointed … “New Greek Plan Already Has Holes?”
Canada’s Dollar Fluctuates After Carney Statement
The Canadian dollar fluctuated after the dovish statement of the Federal Reserve and the speech of Mark Carney, Bank of Canada Governor. The speech of the Governor left mixed feelings, while the Fed statement was moderately negative for the currency. Crude oil, the biggest export of Canada, dropped $1.11 to $94.30 per barrel on NYMEX after the Fed released its statement. Earlier, crude gained by $1.24 to $95.41 as the US stockpiles declined. Carney was quite pessimistic about … “Canada’s Dollar Fluctuates After Carney Statement”