The Malaysian ringgit strengthened today on hopes that central banks of developed nations would stimulate their economies and on the general risk-positive sentiment of Forex traders. The Bank of Japan released the minutes of its last monetary policy meeting, showing that the policy makers is still considering implementing of stimulus measures. Other central banks are also expected to ease their policies amid signs of economic slowdown. There was less bad … “Ringgit Goes Higher as Traders Bet on Stimulus”
Month: August 2012
Euro Gives Up Gains as US Economy Shows More Strength
Euro is giving up its earlier gains against the US dollar today as better news out of the United States gives the greenback the edge. With the latest retail sales data, the US economy appears to be in a better place than the eurozone economy, and that means that the euro is losing ground to the dollar. US retail sales increased 0.8 per cent in July, month over month. This represented a larger … “Euro Gives Up Gains as US Economy Shows More Strength”
Japanese Yen Drops on Expectations of Stimulus
Expectations that stimulus measures will be forthcoming, and that central banks around the world will act to boost the global economy and stave off a eurozone collapse, are helping high beta currencies today, and sending the Japanese yen lower. Yen is falling back as central banks around the world adopt the stance that they will do what they can to keep major economies from becoming victim to serious … “Japanese Yen Drops on Expectations of Stimulus”
IBTimes Awards FX Solutions “Best Forex Broker US” Title
US based Forex broker FX Solutions wins another prize: International Business Times awards it the “Best Forex Broker US” title. This is not the first prize that FX Solutions won lately: FX Solutions won the “Mostly Likely to be Recommended” title by Investment Trends as well as the “Best Broker of the Year 2012” and “Best Forex Global … “IBTimes Awards FX Solutions “Best Forex Broker US” Title”
Chinese Situation Worse But Stimulus on the Way
The world’s No. 2 economy cannot ride fast forever. The most recent growth figures raised even bigger doubts that they usually do. But, the Chinese authorities still have room to stimulate the economy. The doubts about China’s growth come from a growing number of internal and external figures: PMIs: Both the official PMI and the … “Chinese Situation Worse But Stimulus on the Way”
Stocks Drop, Loonie Follows
The Canadian dollar fell yesterday, following the drop of stocks, and remained weak today as concerns for global economic growth return to investors. The currency managed to advance versus the Japanese yen today, even though it has posted losses yesterday. The Standard & Poorâs 500 Index fell 0.1 percent yesterday. Crude oil fluctuated between gains and losses. Traders are worried that the situation in Europe may deteriorate as officials are … “Stocks Drop, Loonie Follows”
Euro Advances, Is It Able to Keep Gains?
The euro ended Monday’s session higher against major currencies and kept the gains today. Yet Forex traders are worried that today’s macroeconomic reports would show rather unpleasant picture of the eurozone economy, sending the currency down. Some important eurozone economic reports are released today and market participants are not optimistic about them. French gross domestic product is expected to shrink 0.1 percent in the second … “Euro Advances, Is It Able to Keep Gains?”
Ruble Rises with Oil & Bonds, Gives Away Gains
The Russian ruble advanced today as Russian bonds rose after three sessions of decline and crude oil, the major source of nation’s export revenue, climbed on mounting concerns about the situation in Middle East. The currency retreated as of now. Futures on Brent crude oil rose as much as 1.3 percent to the highest level in three month. The prices were driven by speculations that Israel may attack Iran. The yield on the Russian government dollar bonds maturing … “Ruble Rises with Oil & Bonds, Gives Away Gains”
UK Pound Mixed: Higher Against US Dollar, Down Against Euro
UK pound is mixed against the other majors today, heading higher against the US dollar, even as the pound drops against the euro. Investors are awaiting UK data, which is expected to be weak. The Olympics are over, and now it’s time to focus on the fundamentals of the UK economy. Last week, Bank of England Governor Mervyn King indicated that interest rates wouldn’t be cut anytime soon, and that … “UK Pound Mixed: Higher Against US Dollar, Down Against Euro”
US Dollar Pulls Back as Forex Traders Get a Taste for Yield
US dollar is pulling back today as Forex traders decide to go for a taste of yield. Over all, risk appetite hasn’t truly returned, but the US economy is just slow enough that many are re-evaluating their positions and paring back recent gains for the greenback. It’s going to be something of a slow week coming up. Today there is nothing really significant in terms of economic data. Tomorrow … “US Dollar Pulls Back as Forex Traders Get a Taste for Yield”