The Great Britain pound fell during the previous week, but rose at the beginning of this week. Could it be a sign that the sterling is going to reverse its bearish trend? The currently available data shows that such case is unlikely. Previously, gains of the pound were mainly by investors fleeing from the euro and the problems of the European Union to the UK currency that was perceived to be somewhat safer. But the macroeconomic … “Forecast: Fundamentals Aren’t Favorable for Pound”
Month: August 2011
Crude Oil Rallies, Helps Ruble
The Russian ruble retreated after its has gained as crude rallied for the third day on optimism for global economic, making Russia’s currency more interesting for investors who are willing to risk in search for higher yield. Futures for delivery of crude oil in October rose 2.2 percent to $87.26 per barrel in New York. Optimism, caused by Bernanke’s speech on Friday, boosted commodities. The positive report about personal income and spending in the US was … “Crude Oil Rallies, Helps Ruble”
Market Optimism Makes Loonie Stronger
The Canadian dollar gained, rising to the highest level in more than a week against the greenback, as stocks and commodities rallied, making the growth-linked currency appealing to investors. Federal Reserve Chairman Ben S. Bernanke spurred optimism on markets last Friday and it still persists. The Standard & Poorâs 500 index rose as much 2.8 percent. October futures for delivery of crude oil (main export of Canada) gained 2.5 percent to $87.52 per … “Market Optimism Makes Loonie Stronger”
Market Sentiment Improves, South Korean Won Gains
The South Korean won gained today as the comments of Federal Reserve Chairman Ben S. Bernanke last Friday increased risk appetite among Forex market participants, bolstering appeal of higher-yielding currencies. Bernanke made comments on August 26 about ability of the US to support growth of its economy in the long run. Markets reacted positively and traders began search for higher-yield. South Korean trade balance surplus widened to $4.94 billion in July … “Market Sentiment Improves, South Korean Won Gains”
Cable: More Sideways To Come
Cable found resistance in the past week around 1.66 area, from where we saw more than 400 pips of decline. As such, recovery from 1.5780 July was just another three wave pattern, similar to what we have seen in the past months, as marked on the chart. Well, if we take a look at the … “Cable: More Sideways To Come”
Rand Advances with Stocks & Metals
The South African rand rallied today, rising to the highest level in more than a week against the US dollar, as stocks and metals advanced after the speech of Federal Reserve Chairman Ben S. Bernanke last week. Bernanke said last Friday that the Fed has means to support growth of the US economy, improving market sentiment. The main South African stock index jumped 1.7 percent as prices on the London Metal Exchange increased … “Rand Advances with Stocks & Metals”
Opposition to Bailouts Reaches Unsustainable Levels
In the never ending European debt crisis, the concept of bailouts has been used over and over again. Similar to the core debt problems, opposition is also mounting to unsustainable levels against the core solution: bailouts. Will we see disorderly defaults? Or perhaps a brave new solution? The problem: The story was the same for … “Opposition to Bailouts Reaches Unsustainable Levels”
AUD/USD: Trading the Australian Building Aug 2011
The change in the number of new building approvals issued is an important indicator of the construction industry and for economic activity as a whole. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Tuesday at 1:30 GMT. Indicator Background Strong growth in new building approvals indicates an expanding housing market, … “AUD/USD: Trading the Australian Building Aug 2011”
Fundamentals are Bad for US Dollar, But Week Wasn’t Bad
The fundamentals this week were negative for the US dollar, weakening the currency against some major counterparts, but performance of the greenback wasn’t that bad, considering all the pressure to the downside. There were plenty of bad new for the dollar this week. Bad housing data, rising unemployment claims and slower that expected growth of the US economy. The week ended with the speech of Ben Bernanke, who hinted at possibility of additional stimulus without … “Fundamentals are Bad for US Dollar, But Week Wasn’t Bad”
Franc Falls as Bernanke Improves Sentiment on Markets
The Swiss franc slumped today after Federal Reserve Chairman Ben. S. Bernanke spoke today, improving sentiment on markets, while rumors abound that Switzerland’s policy makers are preparing another action to weaken the Swiss currency. There are different opinions on what steps Switzerland is going to take in order to weaken its currency. Some analysts speculate that the Swiss National Bank is preparing another intervention. … “Franc Falls as Bernanke Improves Sentiment on Markets”