Euro is fairly steady today, as the world waits for central bank decisions. While euro has slipped a little against the US dollar, it is still holding its own. Euro is higher against the pound and the yen. Right now, the main focus is the meeting by European Central Bank policymakers. A policy announcement is expected tomorrow, and it is expected to focus on helping the eurozone stabilize. Some are hoping … “Euro Waits for Central Bank News”
Month: August 2012
UK Pound Weaker on Economic Data
Central bank decisions are on the way this week, but that isn’t helping the UK pound much. Indeed, another dismal manufacturing report is dragging on the pound today. The UK recession seems to be deepening, and there is no way that the Olympics are going to be able turn things around. UK pound is headed lower today, as concerns about the economy rise. Housing data, as well as manufacturing … “UK Pound Weaker on Economic Data”
Indonesian Rupiah Declines While Trade Deficit Expands
The Indonesian rupiah fell today after the report showed that exports fell, leading to a bigger-than-expected trade balance deficit and declining attractiveness of the currency. Indonesia’s trade deficit was at $1.3 billion in June, being almost double the predicted amount of $530 million. Exports fell as much as 16.4 percent from a year ago, demonstrating the biggest drop since September 2009. Inflation picked up to 4.56 percent in July, reaching the fastest expansion … “Indonesian Rupiah Declines While Trade Deficit Expands”
Yuan Declines on PMI Figure
The Chinese yuan fell today after the worse-than-expected manufacturing report. The uncertainty about the policy decisions of the Federal Reserve and the European Central Bank also made traders reluctant to buy risky currencies. The China Federation of Logistics and Purchasing reported that Manufacturing Purchasing Managers’ Index was at 50.1 in July, while market participants hoped for the figure of 50.4. The yuan fell after the report even as the Peopleâs Bank of China raised the reference rate by 0.02 … “Yuan Declines on PMI Figure”
Forex Crunch Key Metrics July 2012
The month of July saw a small dip in site traffic after a good June and an excellent May. It seems that the action in the markets doesn’t outweigh the summer. The numbers are better than April and March, and significantly higher than July 2011. So, here are the numbers from Google Analytics: Page Views: … “Forex Crunch Key Metrics July 2012”
Soft Spanish Bailout Would Bypass German Court
One of the options for the highly anticipated move by Draghi is that the ECB will buy bonds after Spain makes more cuts, especially in education and health. with Germany’s approval. This has been in discussions according to a recent report. While Spain may also officially ask for a bailout and receive it, skipping an … “Soft Spanish Bailout Would Bypass German Court”