The New Zealand dollar gained today, rising for the third consecutive session versus its US counterpart, as the Japanese specialists are making progress in getting the reactors of the damaged nuclear plant under control. Japan’s Prime Minister Naoto Kan said today that the workers made progress in restoring power to the reactors at the damaged Fukushima Dai-Ichi nuclear plant and that he sees “light at the end of the tunnel” for Japan’s crisis. The MSCI Asia Pacific … “NZ Dollar Strengthens as Concern About Japanese Crisis Eases”
Author: admin_mm
Yen Falls Further as Intervention Continues
The Japanese yen extended its decline today, falling for the third straight day, as the nations of the Group of Seven continued selling of the yen to weaken the currency. The yen surged earlier as the disaster in Japan spurred demand for safer currencies. The excessively strong currency could pose danger to Japan’s economy, prompting the G7, which consists of the US, Japan, Germany, the UK, France, Canada, and Italy, to intervene. The market participants expect the joint action to have strong impact … “Yen Falls Further as Intervention Continues”
5 Arguments for the Dollar, and 5 Against It
The roller coaster week ended badly for the US dollar, as the US Dollar Index closed at the lowest levels since December 2009, just under the previous low. Will it bounce back up from here, or is it a fast roll downhill from here? 5 arguments for the dollar, and 5 against it. Background The … “5 Arguments for the Dollar, and 5 Against It”
French Planes Strike Libya
Following the UN’s decision to authorize air strikes in Libya, the French air force is see in the skies of Libya, and they probably began striking targets. In the 36 hours that followed the decision by the UN Security Council in New York, Gaddafi has declared a ceasefire, but his forces continued to advance rapidly … “French Planes Strike Libya”
Week of Volatile Unpredictable Moves of Yen
This week of volatility and uncertainty for the yen ended and its time to gauge the performance of the currency. And it’s truly a hard endeavor as the Japanese currency posted a weekly gain against some majors, a weekly loss versus others and even ended flat against the pound after the mind-boggling swings. The yen posted huge gains in the first half of the week as the series of disasters spurred the wave of demand for safety. The earthquake followed by the tsunami and the resulting threat of a radiation leak … “Week of Volatile Unpredictable Moves of Yen”
Forex Trib Launches Forex Bookstore
The new forex site, FrexTrib, continues to expand and introduce new features. They now launch an online bookstore dedicated to forex books. The variety contains both technical and fundamental aspects among others. Here are more details: 18th 2011 – In its search to bring more added value to forex traders, Forex Trib (ForexTrib.com) introduces its … “Forex Trib Launches Forex Bookstore”
Sterling Drops vs. Euro on Weak Consumer Confidence
The Great Britain pound fell against the euro today as the report showed that the consumer confidence worsened in February to the record low. The currency rose versus the US dollar and the Japanese yen. The consumer confidence index of the Nationwide Building Society dropped from 48 to 38 in February. That’s the lowest level since the survey began in May 2004. Market participants expected the index to remain unchanged. The poor consumer sentiment spurred talks that the economic … “Sterling Drops vs. Euro on Weak Consumer Confidence”
Canadian Dollar Climbs vs. Yen on Intervention
The Canadian dollar surged today against the Japanese yen the most in 10 months after the nations of Group of Seven, including Canada agreed to intervene in order to weaken the Japanese currency. The Canadian currency fell versus the euro and fluctuated against the US dollar. The G-7 nations agreed to help Japan to recover after the earthquake that happened on March 11. One of the measures to aid the country was the intervention as a strong currency could derail the recovery of Japan’s … “Canadian Dollar Climbs vs. Yen on Intervention”
FXCM Wishes to Buy Forex Brokers
Drew Niv, the CEO of FXCM, declared that he wishes to use the company’s vast amount of cash in order to acquire forex brokers. With growing regulation, it will be hard for small brokers to operate. Big brokers have the resources to deal with the regulation, and they can enjoy the growing popularity of forex … “FXCM Wishes to Buy Forex Brokers”
G-7 Will Help Japan, South Korean Won Gains
The South Korean jumped to the highest level in six weeks today as the Group of Seven nations agreed to help Japan to deal with the aftermath of the earthquake, the tsunami and the radiation leak. The Statement of G7 Finance Ministers and Central Bank Governors, released today, said: In response to recent movements in the exchange rate of the yen associated with the tragic events in Japan, and at the request of the Japanese authorities, the authorities of the United States, the United Kingdom, Canada, and the European Central Bank will … “G-7 Will Help Japan, South Korean Won Gains”