The Great Britain pound slipped today against the US dollar as the reports today showed that the retail sales decreased and the house prices dropped in Britain. The sterling advanced versus the Japanese yen and the euro. The UK retail sales went down 0.4 percent February from a year ago, when the sales had risen 2.2 percent in January. According to the Housing Market Survey by the Royal Institution of Chartered Surveyors, there were 26 percent … “Pound Falls as Retail Sales & House Prices Decline”
Author: admin_mm
Concern for Global Economy Undermine Malaysian Ringgit
The concerns about the global economic recovery, caused by the surging oil prices and the conflicts in North Africa and Middle East, weakened the Asian currencies, including the Malaysian ringgit. The concern about impact of the uprising in Libya intensified as the government warplanes bombed the rebels near the oil hub of Ras Lanuf. Declining demand for riskier assets caused most analysts to predict that the Bank Negara Malaysia will maintain its overnight rate unchanged at 2.75 percent … “Concern for Global Economy Undermine Malaysian Ringgit”
Euro Hit by Renewed Fear of Debt Crisis
The euro extended its decline versus the US dollar for the second day today as the spread between the bonds of the indebted nations and the German bunds widened on the speculation that the European debt problems may worsen. The austerity measures proposed to the indebted countries, including Greece and Ireland, as term of the bailout have met the vehement resistance in these countries. The European leaders will meet later this month, but not many believe that the leaders will … “Euro Hit by Renewed Fear of Debt Crisis”
Australian Dollar Weakened by Strong Oil Prices
The Australian dollar weakened as the surge of the oil prices on concern about the Libyan revolt caused the decline of stocks and commodities and reduced risk appetite. The clashes between the protester and the forces loyal to Libya’s leader Muammar Qaddafi intensified, leading to worries that supply of oil will be cut. April delivery for crude oil rose to $105.44 per barrel on NYMEX, posting the highest price since September 26, 2008 and the gain by 29 percent from … “Australian Dollar Weakened by Strong Oil Prices”
Gains of Japanese Yen on Decline of Stocks & Commodities
The Japanese yen strengthened today as stocks declined and commodities retreated, increasing demand for the currency as a safe haven. The Standard & Poorâs 500 Index declined 0.7 percent, while the Reuters/Jefferies CRB Index of 19 raw materials was little changed after rising 1.1 percent. Crude oil traded at $105.48 per barrel after it gained earlier as much as 2.4 percent. The heated situation in Libya continues to cause concern and uncertainty … “Gains of Japanese Yen on Decline of Stocks & Commodities”
Canadian Building Permits Fall – USD/CAD Stuck
Canada’s building permits dropped by 5.1%. This is a significant disappointment, as expectations stood on a rise of 1.3%. The fall was only very marginally cushioned by a revised rise of 2.6% last month, slightly higher than a rise of 2.4% that was initially reported. The building permits figure is very volatile in Canada. Nevertheless, … “Canadian Building Permits Fall – USD/CAD Stuck”
Usd/Jpy Triangle, bearish breakout to come!
Three-wave structures are shown on a daily chart, with the trapped price action between 80.30 support and 84.00/40 resistance region for some time now. We know that three-wave formations are corrective waves, and as such, the whole price structure since October 2010 must be a corrective pattern, that may finish soon. Wave E, final leg … “Usd/Jpy Triangle, bearish breakout to come!”
New Zealand Dollar Reaches 18-Year Low vs. Australian Currency
The New Zealand dollar reached today the lowest level since 1992 against its Australian counterpart as the stocks declined and New Zealand Prime Minister upheld his previous opinion about the necessity of an interest rates cut. The currency advanced versus the US dollar. The MSCI Asia Pacific Index of regional shares declined 1.1 percent. The costs of the February 22 earthquake in Christchurch to New Zealand’s economy may exceed three times the estimated … “New Zealand Dollar Reaches 18-Year Low vs. Australian Currency”
Euro Fluctuates After Moody’s Cuts Greece’s Rating
The euro rebounded after it previously declined today versus the US dollar as Moodyâs Investors Service downgraded Greece’s government debt, refueling the concern about Europe’s sovereign debt. Moodyâs downgraded Greeceâs debt from Ba1 to B1 and put the outlook to negative. The downgrade has brought the theme of the European debt again to the attention of market participants, causing the speculation that the European leaders will argue among themselves about the best way … “Euro Fluctuates After Moody’s Cuts Greece’s Rating”
Gaddafi to Quit and Leave Libya?
While Libya’s civil war is still raging indecisively, perhaps Colonel Muammar Gaddafi already sees the end. According to A-sharq-el-awsat, a newspaper published in London, the Libyan ruler is ready to quit and leave the country. The paper says that Gaddafi is ready to resign and pass over control to the rebels, if he is guaranteed a … “Gaddafi to Quit and Leave Libya?”