Author: admin_mm

The New Zealand dollar weakened after Prime Minister John Key said that the interest rates should be reduced. The currency also fell as the tensions in Libya intensified. Investors, interested in so-called carry trades, are drawn to New Zealand because of its relatively high interest rates. Therefore reduction of the rates would decrease attractiveness of the New Zealand dollar, or the kiwi as it’s often called. Currently the official cash rate stands … “Kiwi Falls as Prime Minister Speaks About Interest Rates Reduction”

Read More

The Australian dollar dropped today as the policy makers of Australia’s central bank maintained the main interest rates unchanged on today’s meeting. The Reserve Bank of Australia decided today to leave the cash rate unchanged at 4.75 percent. Some traders have hoped that the inflation would encourage the policy makers to raise the rates, but central bank’s Governor Glenn Stevens said in his speech that “inflation is consistent with the medium-term objective … “Australian Dollar Fell as Interest Rates Remain Unchanged”

Read More

The Swedish krona strengthened today, rising to the highest level in two and a half years versus the US dollar, after the report showed that Sweden’s economic growth beat forecasts. The Swedish gross domestic product advanced 1.2 percent in the fourth quarter of 2010. The growth was slower than the 2.1 percent growth in the previous quarter, though bigger than the median forecast of 1 percent. Central bank Governor Stefan Ingves suggested yesterday … “Swedish Krona Gains as Economic Growth Exceeds Forecasts”

Read More

The euro advanced on the speculation that the accelerating inflation will make the European Central Bank to raise the interest rates before the Federal Reserve. The Eurozone annual inflation rose to 2.3 percent in January from 2.2 percent in December 2010. The consumer prices remained above the ECB target of 2 percent for the second month. The rising consumer prices spurred the speculation that the inflation pressure will prompt the ECB to increase the rates. Most analysts, though, … “Inflation Pressure Makes Euro Stronger”

Read More

The Canadian dollar strengthened today, rising for the fourth straight day against its US counterpart, as the report showed that the Canadian economy grew more than forecast in the last quarter of 2010. Canada’s gross domestic product rose 0.8 percent in the fourth quarter of the last year, led by exports, following a 0.4 percent gain in the previous quarter. The median forecast was 0.3 percent. Steve Butler, director of foreign-exchange trading at Bank of Nova … “Canadian Dollar Rises on Positive GDP Report”

Read More

The Great Britain pound advanced today on the speculation that Britain’s central bank will raise the interest rates to slow the growing inflation, which was bolstered by the surging oil prices. The inflation accelerated to 4 percent last month, the 14th straight month of a consumer prices increase, while the central bank’s target is just 2 percent. The anticipation of an interest rates increase boosted the sterling versus the dollar by 1.3 percent this month … “Pound Gains as Inflation Boosts Bets on Interest Rates Hike”

Read More

The New Zealand dollar advanced today, rising versus 15 of 16 most-traded currencies, as the nation’s traded balance unexpectedly posted a surplus in January and as the Asian stocks gained. The New Zealand traded balance had a massive deficit of NZ$264 million in December and analysts predicted the deficit to shrink to NZ$25 million in January. The report yesterday was better than even those optimistic forecasts as it showed the surplus of NZ$11 million last month, the first … “New Zealand Dollar Gains on Asian Stocks & Trade Surplus”

Read More