Eur/Usd reached new lows in recent sessions, mostly driven by lower stocks prices. We see evidence of a deeper price action on Eur/Usd, especially since the pair also broke through the lower support line of a previous bullish channel. As you can see on the chart, the pair is breaking into a third wave of … “EUR/USD: Correction or Something Bigger?”
Author: admin_mm
Dollar Gains as Fundamentals Spurs Risk Aversion
The US dollar strengthened today as the signs of the weaker global economic growth caused investors seek safety of the US currency, while driving stocks, commodities and riskier assets down. The downgrade of Spain’s credit rating, the lower imports in China and other fundamental economic data makes traders to worry about sustainability of the global economic recovery. The news from the US weren’t good either. The US trade balance deficit expanded to $46.3 billion in January, … “Dollar Gains as Fundamentals Spurs Risk Aversion”
Pound Drops as BOE Keeps Key Interest Rate Unchanged
The Great Britain pound slumped today as the Bank of England maintained its benchmark rate unchanged at the record low level of 0.5 percent. The Bank of Englandâs Monetary Policy Committee today voted to maintain the official Bank Rate at 0.5 percent as was expected by analysts. The Committee also voted to maintain the stock of asset purchases at £200 billion. The sterling reacted heavily on the decision despite it was expected. Such reaction perhaps means that … “Pound Drops as BOE Keeps Key Interest Rate Unchanged”
China’s Trade Deficit Makes Aussie Weaker
The Australian dollar slid today as China posted the unexpected trade deficit after the Lunar New Year holiday disrupted exports. China posted the trade balance deficit of $7.3 billion in February, while in January the trade balance posted the surplus of $6.5 billion. The median forecast was for a $4.9 billion surplus. The annual growth of exports was only 2.4 percent, the slowest pace since November 2009, while imports advanced 19.4 percent. … “China’s Trade Deficit Makes Aussie Weaker”
Euro Goes Down as Moody’s Cut Spain’s Rating
The euro slipped today after Moodyâs Investors Service cut Spain’s credit rating, strengthening the fears of the European sovereign-debt crisis. Moodyâs downgraded Spain’s debt rating to Aa2, following the decrease of Greeceâs rating earlier this week. Moodyâs also put the outlook for Spain’s rating to “negative”, hinting that another cut is possible. The European leaders will meet tomorrow and they should decide the way to deal with the crisis by March … “Euro Goes Down as Moody’s Cut Spain’s Rating”
Trade Balance Deficit Shrinks â Sterling Gains
The Great Britain pound advanced today, erasing yesterday’s losses versus the US dollar, as the report showed that the increasing exports made the deficit of the UK trade balance lower than was predicted. The UK deficit of trade balance narrowed to £7.1 billion in January, compared with the deficit of £9.7 billion in December (originally published as the deficit of £9.2 billion). The higher deficit of £8.5 billion was expected. The deficit shrank as the exports rose by £1.3 … “Trade Balance Deficit Shrinks â Sterling Gains”
Libyan Uprising and Higher Oil Prices Aid Swiss Franc
The Swiss franc strengthened today as the conflict in Libya continues, disrupting oil supplies and endangering the world economy. The investors again seek safety under such conditions. The forces loyal to Libya’s Leader Muammar al-Gaddafi performed the air and artillery strikes on the central oil ports to stop the advance of rebels along the coast. At the same time the Gaddafi forces attack towns in the west that have revolted. Crude oil rose 0.9 percent in New York … “Libyan Uprising and Higher Oil Prices Aid Swiss Franc”
USD/CHF Eyeing New Lows
Usd/Chf moved lower in recent hours, actually since the Consumer Price Index numbers came out +0.4% as Swiss Statistics reported. The pair lost almost 100 pips from recent 0.9370 highs. In fact, this move lower appears to be only a start of an impulsive decline headed towards the previous lows. Guest post by Gregor Horvat … “USD/CHF Eyeing New Lows”
Yen Weakens as Global Economy Grows
The Japanese yen fell today as the signs of the global economic recovery and the declining prices for oil decreased demand for the currency as a safe haven. The German industrial output increased 1.8 percent in January, following the decline by 0.6 percent in December, exactly as was predicted. The economies of Japan and the US are also showing signs of growth. The sign of recovery together with the fall of oil prices made the future of the global economy to look less grim, making traders … “Yen Weakens as Global Economy Grows”
Korean Won Rises as Crude Oil Retreats from Record
The South Korean won gained today as the prices for crude oil went down from the highest level in 29 months, easing concern about impact of fuel prices on the global economy. The prices for crude oil went down 0.7 percent to $104.24 per barrel in New York as the members of the Organization of Petroleum Exporting Countries may increase production to offset the impact of the conflict in Libya on supply of crude. Analysts think that the Bank of Korea may … “Korean Won Rises as Crude Oil Retreats from Record”