The Japanese yen posted a second week of gains as concerns the debt problems in the US and Europe made the currency more appealing as a safe haven. Worries about the sovereign-debt crisis intensified after the major rating agencies warned that the rollover of the Greek debt would be considered a default and spoke about possibility of the US credit rating downgrade. The yen climbed against the greenback on the speculation that the Federal Reserve will embark on a next round of the quantitative … “Second Week of Gains for Yen, Will BOJ Intervene?”
Month: July 2011
S&P Warn About Possible Downgrade of US Rating, USD Down
The US dollar erased its gains today and posted the biggest weekly decline in three months after Standard & Poor’s warned that it may cut the US credit rating as the US lawmakers can’t agree on the nation’s debt ceiling. S&P expressed its concerns about the situation in the US: Since we revised the outlook on our ‘AAA’ long-term rating to negative from stable on April 18, 2011, the political debate about … “S&P Warn About Possible Downgrade of US Rating, USD Down”
Canadian Dollar Looks More Attractive After EU Stress Tests
The Canadian dollar advanced today against all 16 most-traded currencies after eight banks in the European Union failed the stress tests, increasing concerns about the EU financial system. The stress tests were performed for the first time this year after last year the European Banking Authority was criticized for their tests being too easy to pass. Eight banks failed the tests with a total capital deficit of â¬2.5 billion. … “Canadian Dollar Looks More Attractive After EU Stress Tests”
Stress Tests Are a Lose-Lose Situation for the Euro
The European Banking Authority has worked hard to provide a serious report about the state of the European banking system. But given the past, these tests have an excellent chance of hurting the euro, no matter the seriousness and no matter the actual results. The problems begin with the previous report. Most of the banks … “Stress Tests Are a Lose-Lose Situation for the Euro”
GBP/USD Hesitating, EUR/CHF Set To Further Weaken
GBPUSD: Hesitating But Maintains Recovery Tone GBPUSD: The pair’s failure to follow through higher on the back of recovery gains has triggered a fresh bear pressure. However, GBP still retains most of its recovery gains started from the 1.5778 level and looks to strengthen further towards the 1.6193 level, its July 13’2011 high on ending … “GBP/USD Hesitating, EUR/CHF Set To Further Weaken”
AUD Fall with Stocks & Commodities on Concerns for Global Growth
The Australian dollar fell today, heading for the second weekly loss against the US dollar and the Japanese yen, as stocks and commodities declined on concerns that problems in the US and Europe will have negative impact on the global growth. The MSCI Asia Pacific index of regional shares was little changed today, while it dropped 2 percent over this week, following three weeks of gains. The Thomson Reuters/Jefferies CRB Index of commodities slipped … “AUD Fall with Stocks & Commodities on Concerns for Global Growth”
India’s Rupee Fall on Debt Problems in US & Europe
Asian currencies, including the Indian rupee, fell today on concerns that the debt issues in the US and Europe will threaten the global economic growth. Martin Feldstein, a former president of the US National Bureau of Economic Research, said that Greece will face default on its debt and Portugal together with Ireland are likely to experience the similar fate. Treasury Secretary Timothy F. Geithner warned US lawmakers that the deadline to raise … “India’s Rupee Fall on Debt Problems in US & Europe”
Currensee Trade Leaders Program Launched in China
Currensee steps into China. With a jump in trading volume and prospects for more in the economic giant, Currensee dips into this huge market, also with a new website. The first social network and alternative investment company offers investors to invest their money into forex trading the same way they do with mutual funds. The … “Currensee Trade Leaders Program Launched in China”
Captain Ben Can Handle the Debt Ceiling
What if the US reaches the debt ceiling and there’s no deal? Will the US default? No worries. Ben Bernanke has the keys to the printing presses and he can solve the problem in no time. Sounds absurd? All the options are on the table. Also on the debt ceiling. At the time of writing, … “Captain Ben Can Handle the Debt Ceiling”
FXCM Close to $1 Trillion Trading Volume in Q2
US forex broker FXCM released some numbers for June and Q2 2011. It was a record quarter for the broker in terms of volume: $938 billion. They have also seen a rise in tradeable accounts. The record month was May, but June wasn’t far behind. The 3% drop can be related to the number of … “FXCM Close to $1 Trillion Trading Volume in Q2”