The Canadian dollar continued its race down, falling to the lowest level this year against its US peer and to the four-month low versus the Japanese yen, as the situation in Europe does not shows signs of improvement, eating away appeal of commodity currencies. The situation in the eurozone worsens with each passing week as European leaders show lack of ability to deal with problems. There are talks that the International Monetary Fund considers … “CAD Reaches Lowest Level vs. USD in 2012”
Month: May 2012
New Month Could Trigger Fresh Big Moves
The month of May was different than previous months: currencies made significant shifts towards the dollar and the yen and away from all the rest. Also stock markets haven’t been that stable, especially not in Europe. Many money managers need to readjust their portfolios to the new conditions, in order to meet their commitments. This … “New Month Could Trigger Fresh Big Moves”
Rand Rebounds After Touching Lowest Level in 2012
The South Africa traded sideway, following the drop to the lowest price this year, on speculations that it fell too much and as exporters profited from the weak rand, converting their overseas earnings to the local currency. Technical analysts say that yesterday’s huge drop made the South African currency undervalued and a bounce can be expected. Fundamentals did not change, though, and are still negative for the rand. Commodities are continuously … “Rand Rebounds After Touching Lowest Level in 2012”
US Dollar Lower Across the Board
Cautious optimism is the watchword today, and that is helping other major currencies against the US dollar. Greenback is lower today as Forex traders find some reasons to look forward, and as some believe that, perhaps, a solution can be found that will keep Greece (and Spain) in the eurozone. Mostly, Forex traders are just looking for a reason to show a little confidence. It’s been a rough few days, and the euro … “US Dollar Lower Across the Board”
Real Rises Even as Central Bank Lowers Main Interest Rate
Brazil’s central bank lowered its main interest rate today in an effort to boost economic growth. The Brazilian real declined against the US dollar after that monetary policy decision. The Banco Central do Brasil (Brazil’s central bank) cut its key interest rate to 8.5 percent from 9 percent today. Such move was expected by most analysts. The central bank has cut lending rates by four … “Real Rises Even as Central Bank Lowers Main Interest Rate”
Japanese Leaders Warn on Yen Strength
Japanese yen is on the rise again, heading higher as concerned Forex traders look for safe haven assets. The yen is considered one of the safer currencies, and with all of the turmoil and uncertainty in Europe, it is one of the currencies of choice. However, Forex traders shouldn’t drive up the price of the yen too high, warns monetary policy leaders in Japan. Finance Minister Jun Azumi is warning that leaders are carefully … “Japanese Leaders Warn on Yen Strength”
EUR/USD: Trading the Non-Farm Payrolls
The Non-Farm Employment Change, released by the US Government, measures the change in the number of employed people in the US, 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 … “EUR/USD: Trading the Non-Farm Payrolls”
FxPro Expands UK Operations after Received Increased FSA Authorization
Cyprus based broker FxPro has received an approval to offer more financial products by the British Financial Services Authority (FSA) and now offers a third regulatory option for its customers in addition to to its Cypriot and Australian subsidiaries. FxPro received the initial authorization to operate in the UK back in October 2010. This is another … “FxPro Expands UK Operations after Received Increased FSA Authorization”
Pound Drops to Lowest in Four Months as European Crisis Spreads
The Great Britain pound fell to the four-month low against the US dollar and to the three-month low versus the Japanese yen on concerns that the spreading European crisis may negatively affect the UK economy. Paul Fisher, the Executive Director of the Bank of England’s Market’s division, warned UK companies to prepare for a potential dissolution of the eurozone, saying: No one is trying to anticipate a euro breakup, but you just canât rule it out. Yield … “Pound Drops to Lowest in Four Months as European Crisis Spreads”
Crisis Gives Loonie No Quarter
Europe’s debt story continues to eat away investor’s confidence and, as a result, the Canadian currency continues to suffer. The euro feels even worse, though, and the Canadian dollar reached the highest level in almost two years against the shared European currency. Europe is not going to leave the news headlines anytime soon and every time traders hear about new developments in the European credit story they seek refuge as that developments … “Crisis Gives Loonie No Quarter”