Jean-Claude Trichet will meet the press once again. He is likely to appear after the announcement of a rate hike, and the markets will focus on his words at the press conference. What will Trichet hint about the next moves? How will the euro react? ECB Preview. Hiking the rates to 1.50% In the previous … “Monitoring Closely or Very Closely? ECB Preview”
Month: July 2011
Forex Crunch Key Metrics June 2011
Following the previous release of key site metrics for the month of May, I hereby present the numbers for June. The good news this month, is that the number of core visitors has risen: more directs visits and more subscribers. More good news comes from FXStreet, that manage the ad space for the site. They … “Forex Crunch Key Metrics June 2011”
Best Week for Euro This Year
This week was the best for the euro in 2011 as Greece accepted austerity required to get the bailout, spurring the shared 17-nation currency and allowing it to erase losses that the currency experienced during June. Prime Minister George Papandreou convinced the Greek Parliament to pass bills to implement budget cuts and asset sales needed to receive the â¬78 billion rescue package. A total of 155 lawmakers from the 300-strong chamber voted for the austerity measures. The euro … “Best Week for Euro This Year”
EUR/CHF Bullish Into Next Week, EUR/JPY Holds On
EURCHF: Rallies Sharply, Bullish Into The New Week. EURCHF – Outlook on EURCHF remains to the upside nearer term after reversing its three-week gains to close at 1.2332 at the end of the week. This is coming on the back of a halt of its broader weakness and a rally off the 1.1805 level, its … “EUR/CHF Bullish Into Next Week, EUR/JPY Holds On”
Canadian Dollar Jumps, Ending Very Good Week
The Canadian dollar jumped today, ending this week without losses against its US counterpart, as risk appetite, caused by the improvement of the Greek situation, spurred demand for higher-yielding currencies. Canada’s gross domestic product was unchanged in April after increasing 0.3 percent in March, while a drop by 0.1 percent was expected. Crude oil, the main Canada’s export, advanced 4.2 percent this week, the biggest weekly gain since … “Canadian Dollar Jumps, Ending Very Good Week”
No Need for Safety, Franc Becomes Less Attractive
The Swiss franc dropped today against other most-traded currencies as signs of the global economic recovery and the positive changes with the debt situation in the Eurozone reduced demand for safer assets. Ulrich Leuchtmann, the head of foreign-exchange strategy at Commerzbank AG, explained his opinion about the recent weakness of the franc: The Swissie was quite a good safe-haven currency, especially if you wanted to flee the euro because of its short- term risks. With the short-term … “No Need for Safety, Franc Becomes Less Attractive”
EUR/JPY Holds on to Recovery, USD/CAD Continues Bearish Momentum
EURJPY: Holds On To Recovery Tone, Aims At The 117.90 Level. EURJPY- Our outlook remains higher on EURJPY for further corrective recovery. With continued hold on to most of gains triggered from the 113.49 level, further strength should build up towards the 117.90 level, its Jun 07’2011 high. A strong foothold above the 117.90 level … “EUR/JPY Holds on to Recovery, USD/CAD Continues Bearish Momentum”
Higher South Korea’s Inflation Leads to Gains for Won
The South Korean won climbed today to the highest level in almost three years, heading to the second weekly gain, after the government report showed that inflation grew with faster pace last month. South Korea’s consumer prices increased 4.4 percent in June from a year ago, compared to the 4.1 percent increase in May and the central bank’s 4 percent target. Exports rose 14.5 percent, leading to the trade surplus of $3.3 … “Higher South Korea’s Inflation Leads to Gains for Won”
Slower Manufacturing Growth Makes Sterling Weaker
The Great Britain pound slipped today as the unexpected drop of the UK manufacturing PMI caused investors to trim their bet on an increase of interest rates by Britain’s central bank. The UK Manufacturing Purchasing Managers’ Index dropped from 52.0 in May to 51.3 in June. Traders hoped for an increase to 52.2. The report also said that growth of employment was slowest in nine months. GBP/USD dropped from 1.6053 to 1.6032 today as of 10:03 GMT after … “Slower Manufacturing Growth Makes Sterling Weaker”
Stocks & Commodities Helps Loonie Erase Losses
The Canadian dollar jumps today for the fourth day, erasing its monthly losses against the US dollar, as the positive outcome of the second Greek vote boosted commodities and stocks, increasing appeal of higher-yielding currencies. The Greek Parliament first voted for the austerity and today the second vote (for implementation of the tightening measures) passed. August futures for delivery of crude oil, the key export of Canada, rose 0.4 percent to $95.10 per barrel in New York after it … “Stocks & Commodities Helps Loonie Erase Losses”