The South Korean won rose today on the forecast that the influence of the global economic recovery will outweigh the negative impact of the earthquake and the radiation leak in Japan. The Kospi stock index gained 0.8 percent, reaching the highest level since February 7, as the number of investors who bought the Korean stocks exceeded the number of sellers for the ninth consecutive day. The won weakened earlier as the growing level of radiation was detected at the damaged Fukushima Dai-Ichi plant, … “South Korean Won Becomes Stronger with Better Global Economy”
Author: admin_mm
Japan’s Nuclear Operator Could be Nationalized – Weighs on
Following the horrific earthquake and the nuclear catastrophe that followed, Japan’s nuclear power operator, Tepco, might find itself in the hands of the government. As Tepco’s finances were never too good anyway, there are growing talks about nationalization. Here are some of the talks: “Naturally it is possible that there will be various debates about … “Japan’s Nuclear Operator Could be Nationalized – Weighs on”
EUR/JPY Goes Up on Interest Rates Prospects
The euro advanced against the Japanese yen today on the speculation that the European Central Bank will raise the interest rates on its next meeting, while the Bank of Japan will likely keep its rates unchanged. The currency slipped versus the US dollar. The good economic data supports the anticipation of higher interest rates. The consumer spending in France rose 0.9 percent in February, while the inflation in Germany is expected to show strong growth. … “EUR/JPY Goes Up on Interest Rates Prospects”
Economic Recovery Makes Safety Unnecessary, Yen Struggles
The Japanese yen weakened on the previous trading session as the signs of the global economy recovery removed demand for the currency as a safe haven. The yen attempts to regain its strengths at the beginning of today’s session. Analysts forecast that the report of Automatic Data Processing, Inc. will show tomorrow that the non-farm employment in the US increased by 206,000 this month. The jobless claims are expected to decline from 382,000 to 379,000. Europe also has potential to provide … “Economic Recovery Makes Safety Unnecessary, Yen Struggles”
Canadian Dollar Moves Higher with Crude Oil Prices
The Canadian dollar rose today versus all other 16 major currencies as concerns about supplies pushed crude oil, the main Canadian export, closer to the 30-month record. May futures for crude oil delivery traded at $103.74 per barrel in New York after it earlier went up 0.3 percent to $105.76. The prices touched $106.95 on March 7, the highest level since September 2008. Crude has risen 7 … “Canadian Dollar Moves Higher with Crude Oil Prices”
Week that Can Define Future of Dollar
This week promises to be very important for the US dollar as there will be many fundamental reports, including the very important non-farm payrolls. Will they confirm the tendency of the US economy to improve, increasing the probability of an interest rates hike? The answer to this question can define the behavior of the US currency for a long time. We already had the positive report about the personal income and spending today. Even more important was … “Week that Can Define Future of Dollar”
CitiFX Pro Trading Platform Launched in the UK
CitiFX launches its CitiFX Pro platform for online forex trading platform aimed at experienced individuals as well as small institutional traders, in Britain. This launch follows previous successful launches and operations of the same platform in the US, Hong Kong, and other Asian countries. This development regarding this tier of traders follows improved spreads for large … “CitiFX Pro Trading Platform Launched in the UK”
Malaysian Ringgit Falls as Japan Reduces Demand for Asian Assets
The Malaysian ringgit, together with some other Asian currencies, fell today as the threat of the radiation contamination from the damaged nuclear plant in Japan curbed attractiveness of the Asian assets. Tokyo Electric Power Co. said that the efforts to fix the cooling systems at the Fukushima Dai-Ichi nuclear power plant were slowed by the necessity to pump the radioactive water from the site. The Bloomberg-JPMorgan Asia Dollar Index dropped from the 13-year record. The Asian currencies … “Malaysian Ringgit Falls as Japan Reduces Demand for Asian Assets”
Aussie & Kiwi Retreat as Fed Considers Removing Stimulus
The New Zealand dollar fell and the Australian dollar reversed its upward trend versus the US dollar today on the speculation that the Federal Reserve may end its asset-purchasing program, reducing amount supply of the US currency. The positive macroeconomic data spurred talks about the potential end of the quantitative easing. The Bank of St. Louis President James Bullard said March 26: The economy is looking pretty good. It is still … “Aussie & Kiwi Retreat as Fed Considers Removing Stimulus”
Sirte Conquered by Libyan Rebels? Oil Falls, Dollar Stronger
According to their own reports, the rebels in Libya are advancing very rapidly and have conquered the strategic city of Sirte (or Sirt), the town where Libyan ruler Muammar Gaddafi was born, and an important stronghold on the way to the capital Tripoli. Since coalition air strikes began about one week ago, the opposition has … “Sirte Conquered by Libyan Rebels? Oil Falls, Dollar Stronger”