The South Korean won weakened today as uncertainty on the Forex market deterred traders from buying riskier currencies of emerging economies. Investors are looking for Federal Reserve Chairman Ben Bernanke to deliver his speech at Jackson Hole Symposium. Bernanke will speak tomorrow and market participants hope that he would give hints about Fed’s future monetary policy. Yet signs of robust growth in the United States make trader … “Won Falls as Uncertainty Eats Away Risk Appetite”
Month: August 2012
Canadian Dollar Falls Back on Economic Uncertainty
Canadian dollar has moved lower as uncertainty about what Federal Reserve Chair Ben Bernanke will say about the US dollar, and the US economy, tomorrow at the central banker symposium in Jackson Hole, Wyoming. Questions about what’s next are weighing on risk appetite, and that isn’t helping the loonie in currency trading. Loonie tends to do well in an environment of risk appetite and certainty. With the uncertainty surrounding tomorrow’s Jackson Hole … “Canadian Dollar Falls Back on Economic Uncertainty”
Japanese Yen Advances as Concerns about Global Growth Return
Japanese yen is gaining against other majors as concerns about global economic growth return to the markets. Worries about what’s next for the world economy have added to risk aversion, weighing on high beta currencies and making currencies like the yen preferred. Rumors abound that the Federal Reserve won’t make a move in September, and concerns about what Ben Bernanke will say tomorrow in Jackson Hole are starting to provide … “Japanese Yen Advances as Concerns about Global Growth Return”
3 Reasons to be Optimistic About Europe
The European debt crisis weighed heavily on the economies, stock markets and the value of the euro in the past few years and there was a sense that solutions were unsatisfactory to say the least. There is a general notion of “kicking the can down the road” while the situation continued deteriorating. However, there are … “3 Reasons to be Optimistic About Europe”
USD/CAD: Trading the Canadian GDP Aug 2012
The Canadian Gross Domestic Product (GDP) is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published … “USD/CAD: Trading the Canadian GDP Aug 2012”
Dollar Jumps as Ahead of Jackson Hole Symposium
The US dollar rallied against the euro and the Japanese yen yesterday as positive US fundamentals made investors less certain that the Federal Reserve would initiate the third round of quantitative easing. So far, the greenback managed to keep its gains today. The Jackson Hole Symposium stars today and Forex market participants doubt whether Fed Chairman Ben Bernanke would announce QE3 during the meeting. US gross domestic product … “Dollar Jumps as Ahead of Jackson Hole Symposium”
Aussie Attempts to Hold Ground
The Australian dollar felt downside pressure today as economists believed that fundamentals would not be in favor of the Australian currency. The Aussie lost its gains against the US dollar, but managed to retain its advance versus the Japanese yen. Analysts estimated that Australian building approvals fell 5 percent in July, following the 2.5 percent drop in June. China’s manufacturing Purchasing Managers Index declined from 50.1 to 50 … “Aussie Attempts to Hold Ground”
Draghi Prepares Markets for Possibility of “Exceptional Measures”
Once again, rumors are flying concerning the euro, and what could be done to save it. Mario Draghi wrote an English-language opinion piece published earlier in Die Zeit, a German newspaper. The piece takes a look at the future of the euro, and lays out what Draghi considers “exceptional measures”, as well as calling for a fundamental change in the makeup of the eurozone. Many euro watchers have been hoping for ECB intervention, including the possibility of buying bonds … “Draghi Prepares Markets for Possibility of “Exceptional Measures””
Adam Kritzer Launches New Book: Forex for Beginners
Adam Kritzer of Forexblog.org has launched a new book named Forex for Beginners. This forex book takes a new and refreshing approach to the world’s biggest market by examining the forces moving the markets in the long term. Trading currencies can be an investment, similar to an investment in a mutual fund rather than chaotic … “Adam Kritzer Launches New Book: Forex for Beginners”
UK Pound Consolidates after Recent Gains
UK pound is moving higher, consolidating after yesterday’s gains. Sterling is heading higher today, in line with market movements. However, the pound isn’t making any big moves, as there are still a lot of questions that need answering, and the UK economic outlook is far from certain. For the most part, UK pound is rangebound today. Even though the currency is consolidating recent gains after … “UK Pound Consolidates after Recent Gains”