The Australian dollar continued to fall today, extending its decline for the third straight session, as the Reserve Bank of Australia suggested that an interest rate cut may be possible as the inflation pressure eased. The RBA kept the main interest rate at 4.75 percent and said in the statement: Taking into account all the recent information, the path for inflation may now be more consistent with the 2â3 per cent target in 2012 and 2013. The central … “RBA Hints About Future Interest Rate Cut, Aussie Drops”
Month: October 2011
Important Week for Euro, Greece at Brink of Default
The past month was very unfavorable for the euro. The start of this month doesnât look positive for the shared European currency either. This week can define the future of the currency for a long time as the story of the Greek debt crisis may come to an end (most likely a bad one). Another important event this week is the monetary policy meeting of the European Central Bank. Greece failed to comply with the budget deficit requirements set … “Important Week for Euro, Greece at Brink of Default”
Franc Drops as Swiss Economy Weakens
The dropped today as the macroeconomic reports showed Switzerland’s economy experiences problems, spurring the speculation about yen another intervention by the nation’s central bank. This week started with the bunch of negative reports. The retail sales in Switzerland fell 1.9 percent year-on-year in August, compared to the overly optimistic forecast of a 4.5 percent increase. The SVME PMI fell from 51.7 in August to 48.2 in September. Reading below 50.0 indicates decline. Last week … “Franc Drops as Swiss Economy Weakens”
AUD/USD: Trading the Australian Retail Sales October 2011
Australian Retail Sales is the most important indicator of consumer spending. Its release in the first week of the month provides analysts and investors with their first look at figures from the vital consumer sector. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at 00:30 GMT. Indicator Background Consumer spending … “AUD/USD: Trading the Australian Retail Sales October 2011”
CAD Jumps vs. EUR, Falls vs. Safer Currencies
The Canadian dollar climbed against the euro today as the favorable macroeconomic data made the Canadian currency more attractive to investors than the European one. On the other hand, the loonie fell against the US dollar and the yen. The ISM manufacturing PMI rose from 50.6 in August to 51.6 in September. The construction spending in the United States expanded 1.4 percent in August, following the decline with the same 1.4 percent rate in July. Most of Canada’s exports go … “CAD Jumps vs. EUR, Falls vs. Safer Currencies”
CFTC Charges $6 million more from FXCM on Failure to
The case of US broker FXCM and positive slippage has another twist: FXCM has been ordered to pay an additional sum of $6 million to the CFTC. According to the case settled by both sides, the company failed to provide an equal treatment to all customes regarding adjustments in prices. It also failed to seriously … “CFTC Charges $6 million more from FXCM on Failure to”
Euro Struggles Far From Over
Euro touched a 10-year low today against the yen, and managed to lose ground against the US dollar and the UK pound as well. Most of the bad news for the eurozone resides in the news that Greece will not hit its deficit target this year. Greece’s announcement that it will miss its target, amidst continued talk about more bailouts, has default talk starting up again. The idea of a Greek default … “Euro Struggles Far From Over”
Australian Dollar Slides on Eurozone and Asian Stocks
Asian stocks ended Monday’s session lower, and eurozone fears continue to provide reason for concern. As a result, the Australian dollar is sliding, even hitting new 2011 lows during trading. Indeed, this is a new development for the Aussie, which has seemed almost impervious to trouble throughout much of the year. The Australian dollar avoided big losses during the Middle East riots, the US debt downgrade and previous Greek worries. Now, … “Australian Dollar Slides on Eurozone and Asian Stocks”
Pound Falls, Slows Decline as Manufacturing Expands
The Great Britain pound fell today as analysts predicted the report would show that the manufacturing in the UK contracted last month. The currency slowed the decline after the actual report showed the manufacturing expanded. The Manufacturing Purchasing Managers’ Index rose to 51.1 in September from the revised August value of 49.4. Economists predicted a reading of 48.9. The report wasn’t all positive, though, as it said the rate of growth is “well below” the rate in the first … “Pound Falls, Slows Decline as Manufacturing Expands”
US Dollar Corrects After Monthly Gains
The US dollar corrected today after it rallied in September despite the downgrade of the US credit rating by Standard and Poor’s in August and the speculation the US policy makers are debasing the currency’s strength. The dollar gained against all 16 of most-traded currencies for the first month in three years in September. The greenback also outperformed stocks and commodities for the first time since May. The currency of the North American nation had the best quarter against the euro in more … “US Dollar Corrects After Monthly Gains”