The New Zealand dollar jumped today, rising for a second day, after the New Zealand central bank kept its main interest rate unchanged yesterday and signaled that it may leave the rate relatively low for some time. The Reserve Bank of New Zealand kept its Official Cash Rate (OCR) at 2.5 percent. Reserve Bank Governor Alan Bollard explained: Inflation has settled near the middle of the Bankâs target … “NZ Dollar Jumps for Second Day as RBNZ Decides to Leave Key Rate Unchanged”
Month: March 2012
EUR/USD: Trading the Non-Farm Employment Change
The US Non-Farm Employment Change measures the change in the number of employed people, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 1:30 GMT. Indicator Background Job creation is one of … “EUR/USD: Trading the Non-Farm Employment Change”
South Korean Won Rises After Central Bank Maintains Interest Rates
The South Korean won rose today after Korea’s central bank kept its main interest rate unchanged as the negative impact of the eurozone crisis was balanced by rising fuel prices that were adding an upside risk for inflation. The Bank of Korea kept its Base Rate (key interest rate) at 3.25 percent. The bank said in its statement that the nation’s economic growth avoided slowdown and that: The Committee anticipates that … “South Korean Won Rises After Central Bank Maintains Interest Rates”
Will Norges Bank Stop Cutting Interest Rates? Traders Hope So, NOK Rallies
The Norwegian krone continued to rally today, following yesterday’s gains, on the speculation that the nation’s central bank will end its interest rate cuts as the Norwegian economy demonstrates positive developments. Norway’s economy is improving as crude oil prices rallies. Unemployment dropped, consumer confidence improved and manufacturing expanded. The positive fundamentals allowed economists speculate that Norges Bank Governor Oeystein Olsen will keep the main interest rate … “Will Norges Bank Stop Cutting Interest Rates? Traders Hope So, NOK Rallies”
Canadian Dollar Rises Ahead of BoC Monetary Policy Meeting
The Canadian dollar rose yesterday and is keeping its gains today as analysts predict that Canada’s central bank will keep its main interest rate unchanged at today’s monetary policy meeting. The Bank of Canada is expected to maintain its key overnight rate at 1 percent as the current state of Canada’s economy looks good enough to keep the rate at the current level. Certainly, there are some negative data, like … “Canadian Dollar Rises Ahead of BoC Monetary Policy Meeting”
Draghi Likely to Hide Behind Greek Drama – ECB Preview
After overseeing the second LTRO, the ECB is likely to leave policy unchanged and refrain from announcing any policy steps. With the Greek drama and the second bailout culminating, Draghi will likely want to keep things quiet. Will the reporters get some interesting statement out of the presser? ECB Preview Rates and Recession The ECB … “Draghi Likely to Hide Behind Greek Drama – ECB Preview”
US Dollar Index Gains on European Concerns
US dollar index is gaining today, inching a bit higher. Previously, the US dollar index was struggling as the euro came off three-week lows to post some gains. However, those gains have been overwhelmed, and the US dollar is higher. Too many concerns about what’s next for the eurozone are weighing on European currencies, even though equities and commodities are higher today. Good news out the United … “US Dollar Index Gains on European Concerns”
Why March 23rd is a Good Date for a Greek
If European leaders continue dragging their feet, Friday, March 23rd could be the day that Greece declares bankruptcy. Here is why, and what actions can be made to kick the can further down the never ending road and prevent such an announcement. This date sounds makes sense. Greece has to pay back over 14 billion … “Why March 23rd is a Good Date for a Greek”
Euro Stabilizes as Traders Move Into Wait and See Mode
Euro is off a three-week low today as Forex traders switch to wait and see mode with regard to the Greek bond deal, and with regard to the global economy. Euro has stabilized and is even slightly higher against the other majors. A surprise fall in January factory orders for Germany has many concerned about the eurozone economy — and that’s without the possibility of another crisis brought on by Greek debt. Everyone is waiting … “Euro Stabilizes as Traders Move Into Wait and See Mode”
Euro Broke Through January Support Line – Trend Clearly
The euro keeps falling, forming a nice impulsive fall from the 1.3480 top. Notice that yesterday’s price action sent the euro below the falling trend line connected from January lows, which also represents a lower support of a corrective channel. We know that once this channel is broken, that simply means that larger trend is … “Euro Broke Through January Support Line – Trend Clearly”