The South Korean won climbed today on the positive outlook for the economy of Asia’s nations and the signs of progress in making the plans to resolve the sovereign debt issues in Europe. French President Nicolas Sarkozy said today that the European Union leaders convinced banks to write down 50 percent of the Greek debt. China commented that the agreement will bring “new vitality into European integration”. Sarkozy also said the International Monetary Fund will … “EU Closer to Agreement on Debt, Korea’s Won Gets Stronger”
Month: October 2011
USD/CHF: Trading the Swiss KOF Economic Barometer
The Swiss KOF Economic Barometer is a leading indicator which measures overall economic activity and is an excellent indicator of the direction of the Swiss economy. The indicator, which is released monthly, has a major effect on USD/CHF. Here are all the details, and 5 possible outcomes for USD/CHF. Published on Friday at 9:30 GMT. … “USD/CHF: Trading the Swiss KOF Economic Barometer”
RBNZ Signals About Possible Interest Rates Hike, NZD Higher
The New Zealand dollar gained today, extending its rally for the second day, after the Reserve Bank of New Zealand key its target interest rate unchanged, but suggested that an increase is possible in the future. The RBNZ left its key Official Cash Rate (OCR) unchanged at 2.5 percent. Reserve Bank Governor Alan Bollard explained the factors that currently prevent the central bank from tightening the monetary policy: … “RBNZ Signals About Possible Interest Rates Hike, NZD Higher”
Can Australian Dollar Drop Further?
The inflation report that showed a slowing inflation weakened the Australian dollar. But will the currency extend its drop? That’s a definite possibility in case the central bank would cut the interest rate next month. The inflation rose 0.6 percent in the third quarter, slower than in the third quarter (0.9 percent), but such slowdown was expected. The trimmed mean inflation (it’s similar to core inflation in other countries) advanced only … “Can Australian Dollar Drop Further?”
GBP/USD Falls as Risk Aversion Rules Market
The Great Britain pound declined today versus the US dollar as the uncertainty about the outcome of the European Union summit made traders prefer safer currencies, shunning the sterling that is also weakened by the problems in Britain itself. The leaders of the EU are meeting today at the summit to discuss the problems of the region. Among the discussed issues is the voluntary participation of banks in rescuing Greece and other indebted economies, though rumors say a forced involvement isn’t … “GBP/USD Falls as Risk Aversion Rules Market”
US Dollar Strengthens on Lowered Eurozone Expectations
US dollar is strengthening after showing some softness earlier today. Euro strengthened on some hopes for the EU summit underway, but, as expectations become lowered regarding the outcome of the meeting, euro is losing ground. Concerns about whether eurozone countries can agree on a solution to the sovereign debt crisis threatening the survival of the eurozone as it is presently constituted — and possibly the euro itself — are undermining some of the earlier … “US Dollar Strengthens on Lowered Eurozone Expectations”
Ruble Slides Before EU Summit
The Russian ruble dropped today as the nation’s main oil export blend retreated ahead of the European Union leaders meeting, reducing attractiveness of Russia’s currency. The export driven economy of Russia depends on commodities and oil is the major revenue earner. Russia’s economy looks good at present as Deputy Economy Minister Andrei Klepach said the countryâs gross domestic product expanded 5.1 percent in the third quarter of this year. Today’s European Union … “Ruble Slides Before EU Summit”
Euro Higher as World Awaits Summit Outcome
Euro is higher today as the world awaits the outcome of the EU summit. There are hopes that leaders — especially from France and Germany — will be able to present a practical plan to contain the sovereign debt crisis. Expectations for a full-fledged solution have been scaled back, although there are at least some hopes that something will be announced that means a solution is coming. For now, though, that’s … “Euro Higher as World Awaits Summit Outcome”
EUR/USD Moving Higher on High Summit Hopes
The German parliament provided backing for Chancellor Angela Merkel before the second EU Summit. This got EUR/USD out of the tight range and sent it to 1.3970. This is unlikely to be the last EU summit that will try to find a comprehensive plan to the debt crisis. While there is an upcoming bank recapitalization … “EUR/USD Moving Higher on High Summit Hopes”
USD/JPY: Trading the Pending Home Sales Release
The U.S. Pending Home Sales Report is an important leading economic indicator, considered by analysts as a good measure of consumer demand in the housing sector. A higher reading than forecast points to a growing economy and is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on … “USD/JPY: Trading the Pending Home Sales Release”