The Swedish krona declined today after the nation’s central bank cut its main interest rate and lowered its growth forecast for 2012 as the negative developments in the eurozone hurt the country’s economy. The Riksbank (Sweden’s central bank) lowered its main interest rate by 25 basis points to 1.50 percent. The central bank Riksbank its reasons for decreasing the rate and hinted that more reductions are possible: There is considerable uncertainty … “Swedish Krona Falls After Riksbank Cuts Main Rate & Growth Forecast”
Month: February 2012
Chile’s Central Bank Maintains Interest Rates
Chile’s central bank kept its main interest rate unchanged as the economic growth reduced need for an interest rate cut. The Chilean peso was flat versus the US dollar, while rose against the euro. The Central Bank of Chile decided to keep the benchmark monetary policy interest rate at 5 percent on its last policy meeting. The bank said in the statement: Domestically, economic activity and domestic demand have tended to outperform forecasts … “Chile’s Central Bank Maintains Interest Rates”
Disagreement Among Greece & EU Hurts Canadian Dollar
The Canadian dollar erased its earlier gains fell today against the US dollar and the Japanese yen as politician of Greece and other European countries argue about the bailout for the Hellenic Republic. The currency maintained its gains versus the euro. Greek Finance Minister Evangelos Venizelos said that wealthier eurozone members are “playing with fire” and accused them of attempting to expel Greece from the European Union. Other members of the EU blamed … “Disagreement Among Greece & EU Hurts Canadian Dollar”
Without a Marshall Plan for Greece – There’s No Hope
Back in the hot days of July 2011, European leaders demanded austerity from Greece, but also agreed on a Greek haircut, or PSI to create some relief. In addition, they were warming up for a “Marshall plan” for Greece. Perhaps the leaders were excited towards their August vacations. The phrase “Marshall plan” has disappeared with … “Without a Marshall Plan for Greece – There’s No Hope”
Aussie Gets Boost from People’s Bank of China
Australian dollar got a boost in earlier trading as the governor of the People’s Bank of China reassured Europe — and the world — that China is still committed to investing in the euro as an asset. The news provided a little bit of risk appetite in the midst of uncertainty. Aussie is also receiving help from the Reserve Bank of Australia, which continues to show caution about cutting interest rates. Worries about the eurozone are cropping up again … “Aussie Gets Boost from People’s Bank of China”
CitiFX Pro Enables MetaTrader 5 Users Access to its
Metaquotes introduces the integration of MetaTrader 5 and CitiFX Pro. This deal will enable selected brokers to offer MT5 with the liquidity of CitFx to its clients. For CitiFX, this means higher trading volume, and traders get higher pricing. This also benefits brokers, that have a better offering. CitiFX recently won the FX Week “Best Retail … “CitiFX Pro Enables MetaTrader 5 Users Access to its”
US Dollar Mixed this Morning
US dollar is mixed this morning on the Forex market as traders look for direction, and all of the latest news and information is processed. From China to Europe to Zynga, there is plenty to talk about today, and the US dollar is very mixed as a result. Overnight, China provided some bracing words for Europe, encouraging leaders of the eurozone. Zhou Xiaochuan, the governor of the People’s Bank of China, expressed confidence in the eurozone and said that China … “US Dollar Mixed this Morning”
USD/JPY: Trading the Philadelphia Fed Manufacturing Index
The Philadelphia Fed Manufacturing Index is an important leading indicator, and is based on a survey of manufacturers in the Philadelphia area. It examines manufacturers’ opinions of business activity, and helps provides a snapshot of the business climate and sentiment in the U.S. An actual reading which exceeds the forecast is bullish for the dollar. Here … “USD/JPY: Trading the Philadelphia Fed Manufacturing Index”
Retail Sales Boost NZ Dollar
The New Zealand dollar gained today after a government report showed that nation’s retail sales grew more than expected. The general good sentiment on the Forex market also helped the currency. New Zealand retail sales grew 2.2 percent in the fourth quarter of 2011, following the advance by 2.4 percent in the previous three months. Analysts predicted slower growth by 1.2 percent. Speculation that China is going to help Europe … “Retail Sales Boost NZ Dollar”
Euro Rises as China Talks About Helping Europe
The euro advanced today as China signaled that it may help the European Union in battling the debt crisis and Germany’s economy shrank less than was forecast. Zhou Xiaochuan, Peopleâs Bank of China Governor, said that China, as well as other emerging economies, may help Europe in resolving its problems. Zhou mentioned three possible sources of help: the central bank, China Investment Corp., the nationâs sovereign wealth fund, … “Euro Rises as China Talks About Helping Europe”