The Czech koruna fell today after the Czech central bank left interest rates unchanged yesterday and analysts speculated that it may weaken the currency to support the declining nation’s economy. The Czech National Bank kept its main interest rate at 0.05 percent yesterday. Economists speculated that the bank may weaken the koruna, even though Governor Miroslav Singer noted that the exchange rate is already weak: The koruna … “Czech Koruna Soft After Central Bank Leaves Rates Unchanged”
Month: December 2012
Canadian Dollar Loses Ground
Canadian dollar is losing ground today, heading lower as the situation in the United States weighs. Even though oil prices are higher, and risk appetite seems somewhat apparent, the loonie is struggling. The Canadian dollar is running into trouble today. Even though oil prices are slightly higher, the loonie hasn’t benefited. Instead, the Canadian currency is being affected by the stalled fiscal cliff negotiations. Even though … “Canadian Dollar Loses Ground”
German Ifo Helps Euro
The latest German Ifo data is helping the euro today, sending the 17-nation currency higher. The latest news, combined with hopes for a deal on the fiscal cliff, is boosting the euro to highs against the dollar since early in 2012. Hopes for a rapid recovery for Germany are helping the euro today. The German Ifo is showing a gain in business confidence for December. This is the second month that there has been an increase in confidence. … “German Ifo Helps Euro”
Leverate Expands to Asia – Opens HK Office
The news just keep pouring out of Leverate: the software provider for brokers is about to launch an office in Hong Kong at the very beginning of 2013. Emerging markets played a key role in forex growth. Leverate recently launched FXPN, a forex affiliate network. For more about this move into Asia, see the full details … “Leverate Expands to Asia – Opens HK Office”
Rupee Gets Boost from RBI Policy Meeting
The Indian rupee climbed today after India’s central bank left interest rates unchanged at yesterday’s meeting and pledged to shift the monetary policy towards growth. The Reserve Bank of India left its Bank Rate (the main interest rate) at 9 percent yesterday. The bank talked about signs of stabilization of the global economy: Since the Second Quarter Review (SQR) of October 2012, the global economy has shown some signs of stabilisation although … “Rupee Gets Boost from RBI Policy Meeting”
Ruble Climbs with Rise of Crude Oil Prices
The Russian ruble advanced today, rising for the second day, as crude oil, the major Russia’s export, rose amid the positive market sentiment. Crude oil traded at $87.84 per barrel in New York, near the highest level in two weeks. Crude and natural gas account for about 50 percent of Russia’s export revenue. Previously, the ruble was weak as importers were selling the currency ahead of the holiday season. USD/RUB retreated from 30.7345 … “Ruble Climbs with Rise of Crude Oil Prices”
GBP/USD: Trading the British Retail Sales December 2012
UK Retail Sales is considered one of the most important consumer indicators. This indicator provides analysts and traders with an early look at consumer spending. A reading that is higher than the market forecast is bearish for the US dollar. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Thursday at 9:30 GMT. Indicator … “GBP/USD: Trading the British Retail Sales December 2012”
Canadian Dollar – US Indicators Show the Way
The Canadian dollar was the strongest gainer in November, but not by a big margin. We are seeing that the loonie is becoming more and more dependent on the situation in the US. So far, this has helped the Canadian dollar, as internal figures haven’t been so good. Will this continue? * This article is … “Canadian Dollar – US Indicators Show the Way”
RBA Minutes Hurt Aussie
The Australian dollar backed off today as the minutes of the central bank’s policy meeting indicated that the RBA is ready to implement additional monetary easing. The currency remained weak even as stocks and commodities rallied. The Reserve Bank of Australia cut its main interest rate by 25 basis points to 3 percent during its last policy meeting on December 4. The minutes of that meeting indicated: At this meeting, the information on labour costs … “RBA Minutes Hurt Aussie”
Pound Climbs on Signs of Stability
The Great Britain pound jumped yesterday and retained its gains today after the macroeconomic data showed that Britain’s economy is stabilizing. At the same time, the sterling weakened versus the euro. The Consumer Price Index remained at 2.7 percent and core inflation stayed at 2.6 percent in November. The Retail Price Index was at 3 percent last month, a little below the October’s 3.2 percent. The House Price Index showed growth by 1.5 … “Pound Climbs on Signs of Stability”