The South Korean won appreciated today as new hope emerged for the eurozone and traders felt confident enough to seek currencies with higher yield. It looks like Germany yielded to the pressure from of those who were not happy with its opposition to the involvement of the European Central Bank in rescuing the eurozone. Germany’s support of the ECB bond-buying program boosted the market sentiment significantly. There are rumors that the International Monetary Fund … “Won Gains on Brighter Outlook for Europe”
Month: August 2012
Australian Dollar Rallies After RBA Keeps Policy Unchanged
The Australian dollar advanced today as the Reserve Bank of Australia left its key cash rate unchanged. Such decision was expected by market participants, but was welcomed nevertheless as it means that the RBA is rather confident in economic growth. The RBA left its main interest rate at 3.5 percent today. Bank’s Governor Glenn Stevens explained that the global economy looks a little better, but Europe remains … “Australian Dollar Rallies After RBA Keeps Policy Unchanged”
August 2012 Monthly Outlook Available for Download
The Forex monthly outlook for August 2012 is available for download. To download it for free, just join the mailing list below. July saw another more signs of deterioration in the global economy, with Europe dragging the entire world down. However, the events at the turn of the month may have been the beginning of … “August 2012 Monthly Outlook Available for Download”
Yen Gains Even as Risk Appetite Persists on FX Market
The Japanese yen rallied yesterday and retained its strength today ahead of the Bank of Japan’s policy meeting later this week. Risk appetite ruled the Forex market, but that did not deter the yen from rising higher against other most-traded currencies. FX traders are waiting for the European Central Bank to start its bond-buying program that should alleviate some of the euro-region problems. Investors were especially happy … “Yen Gains Even as Risk Appetite Persists on FX Market”
Euro Loses Strength as Monti Sparks Fears
The euro was stronger at the beginning of todayâs session, boosted by the optimism that persisted from the last week, but trimmed its gains and fell against some major currencies later after Italian Prime Minister Mario Monti warned that the eurozone may fall apart because of the disagreement among the European Union members. Monti said on the weekend that “the tensions that have accompanied the eurozone in the past years are already showing … “Euro Loses Strength as Monti Sparks Fears”
Aussie Near Four-Month High vs. Greenback
The Australian dollar pared its losses versus the US dollar and the euro on speculations that the Reserve Bank of Australia would refrain from cutting the interest rates further. The Aussie traded near the four-month high against the greenback. The mood of Forex market participants soared after US non-farm payrolls were released on Friday and the positive sentiment persisted today. The optimism added to the strength of the Aussie that was caused by speculations that the RBA would … “Aussie Near Four-Month High vs. Greenback”
US Dollar Looks for Gains against other Majors
US dollar is looking at gains against high beta majors today, after seeing some weakness earlier. Some of the gains are being pared a little bit, but even with the expectation of good news in the eurozone, there are still doubts, and the US dollar is still being considered a safe haven. Often, when stocks are doing well, the US dollar drops, as it is an indication that riskier … “US Dollar Looks for Gains against other Majors”
Ruble Rises as Oil Prices Advance & Borrowing Costs Fall
The Russian ruble climbed today as prices for Urals oil rose and Russia’s borrowing costs fell. Trades retained their confidence from Friday and that helped riskier currencies, including the ruble. Futures on Urals crude surged as much as 3 percent to $109.81 per barrel on August 3 and traded at $109.06 today. About 50 percent of Russia’s export revenue comes from oil and gas exports. The yield on the Russian bonds maturing in 2015 … “Ruble Rises as Oil Prices Advance & Borrowing Costs Fall”
UK Pound Falls after Disappointing Housing Data
UK pound is lower today, dropping to a one-month low against the euro and pulling back against the US dollar as the latest housing data disappoints. Pound is on the defensive in trading as the housing market in the United Kingdom continues to struggle, and as the economy languishes. Right now, the issue is home prices. Rightmove Plc reports that home sellers might need to lower prices. Home prices dropped in June and July, but surveys indicate … “UK Pound Falls after Disappointing Housing Data”
GBP/USD: Trading the British Manufacturing Aug 2012
British Manufacturing Production, a key indicator, provides analysts and traders with a snapshot of the health of the UK manufacturing sector. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Tuesday at 8:30 GMT. Indicator Background The … “GBP/USD: Trading the British Manufacturing Aug 2012”