The Swedish krona climbed today to the highest price in a week on the speculation that the Sweden central bank will leave the interest rates unchanged in the first month of the new year after lowering them this month. The Riksbank decreased it target repo rate by 25 basis points to 1.75 percent. The bank wrote: As inflationary pressures are low and economic development is weak, the Executive Board of the Riksbank has decided to cut the repo rate … “Swedish Krona Goes Up to Weekly Record”
Month: December 2011
Indirect Euro-zone QE at Play?
Spain had a winning streak of bond auctions. It managed to sell more bonds than expected and with falling yields. One reason is the high hopes for the new government, set to assume power soon. Yields rose towards the elections and have been falling since then. Yet not only the high expectations send money towards … “Indirect Euro-zone QE at Play?”
EUR/USD Trapped In Correction Within Downtrend; 1.2800 Next!
We expect further weakness on Eur/Usd after a fall in the past week with and type of a price action which suggests that decline from 1.3550 is impulsive. With this being said, our bias is very bearish now within impulsive structure, and will look for more weakness ideally into 1.28/1.27 zone, while 1.3280 critical level … “EUR/USD Trapped In Correction Within Downtrend; 1.2800 Next!”
Australian Dollar Advances as RBA Minutes Less Dovish Than Expected
The Australian dollar rose today, reversing yesterday’s fall, as the minutes of the Reserve Bank of Australia’s monetary policy meeting weren’t as dovish as analysts expected, considering the decision to lower the interest rates. The RBA lowered its main cash rate by 25 basis points to 4.25 percent on December 6, following the reduction in November. The minutes explained the intensifying concerns about the situation in Europe as the main reason for the monetary easing. The minutes weren’t as pessimistic, though, as one … “Australian Dollar Advances as RBA Minutes Less Dovish Than Expected”
Canadian Dollar Rises, Waits for More News
The Canadian dollar gained today against its US counterpart, following yesterday’s fall. The currency rose versus the Japanese yen and the euro yesterday and continued to advance today as the prices for crude oil increased. January futures for crude oil delivery gained $0.55 to $94.08 per barrel on NYMEX after it rose 1 percent and fell 1.1 percent. The loonie experienced some pressure to the downside as the situation in Europe hasn’t shown an improvement. The Standard … “Canadian Dollar Rises, Waits for More News”
Russian Ruble Falls with Oil
Russia’s ruble declined today after crude oil prices fell on the concerns about the power transition and the political stability in North Korea and the uncertainty with the situation in Europe. Futures on crude oil fell 0.9 percent to $92.67 per barrel in New York after dropping 0.4 percent on December 16 and touching the lowest level since November 2. Investors bet that the ruble will decline further to 32.4915 per dollar in the next … “Russian Ruble Falls with Oil”
11 Most Popular Forex Articles of 2011
The holiday season that marks the year’s end is getting close. 2011 was a very volatile year, with many dramatic events. Here is a list of 11 most popular articles published on Forex Crunch in 2011. The list doesn’t include the regular sections, such as EUR/USD weekly outlook or the forex news section. It also … “11 Most Popular Forex Articles of 2011”
South Korean Won Drops After North Korean Leader Dies
The South Korean won slid today after North Korean leader Kim Jong Il died, leading to fears that North Korea would face a political turmoil that may negatively influence South Korea. One of the leader’s sons is going to succeed Kim Jong Il. Some market participants hope that a new leader would set the country on a more “reasonable” course. On the other hand, the previous years brought … “South Korean Won Drops After North Korean Leader Dies”
US Dollar Firmer Against Majors
US dollar is firmer against majors, heading a little bit higher as many Forex traders take a defensive position today. The situation, though, is one of those rare times when the US dollar and US stocks aren’t moving in opposite directions. Right now, US stocks are heading higher, gaining as investors hope that housing data will show improvement this week. The US dollar is higher … “US Dollar Firmer Against Majors”
Euro Struggles on Debt Difficulties
It’s all about defensive positions today on the Forex market as news continues to give traders pause. Forex traders are processing the news of the death of Kim Jong Il, the dictator that ruled North Korea for years, and considering whether or not Fitch really will downgrade France along with six other European countries. Indeed, questions about what’s next for the eurozone still remain. Fitch warned on Friday that it … “Euro Struggles on Debt Difficulties”