The euro rose today against the US dollar and the Japanese yen on the speculation that the surge of the oil prices will cause the European Central Bank to raise the interest rates to deal with the inflation. ECB President Jean-Claude Trichet said today that the policy makers will take actions to preserve the economic stability. The oil prices reached the highest level in two years as the conflict in Libya continues. EUR/USD rose from 1.3651 to 1.3756 today … “Euro Gains on Anticipation of Rates Increase by ECB”
Author: admin_mm
NZD Recovers on Speculation Earthquake Won’t Cause Rate-Cut
The New Zealand dollar recovered today slightly, after yesterday’s decline on the earthquake in Christchurch, on the speculation that the markets overestimated the probability of interest rates cuts. The earthquake in Christchurch, the second- largest city of New Zealand, caused death of at least 75 people and the death toll will likely rise as the rescuers comb the ruins of buildings. Prime Minister John Key said that the disaster will likely to cost the reinsurers about NZ$5 billion ($3.7 … “NZD Recovers on Speculation Earthquake Won’t Cause Rate-Cut”
Japanese Yen Profits from Uprising in Libya
The Japanese yen strengthened yesterday, reaching the highest level in a week against the euro, as the turmoil in Libya increased demand for the safe currencies. Today the yen weakened somewhat. Human Rights Watch said that the crackdown on the protesters already left more than 200 dead. Libya’s leader Muammar al-Gaddafi stated that the uprising “will lead to civil war”. The conflict caused concerns about supplies of crude oil as Libya is one of the major … “Japanese Yen Profits from Uprising in Libya”
US budget impasse poses a big risk for the dollar
With markets transfixed by the unprecedented developments across the Middle East and North Africa, it is perhaps understandable that the emerging train-wreck that is US fiscal policy is not getting much attention. This is a mistake. Guest post by FxPro An unusual late-night session on Friday resulted in the Republican-led House of Representatives agreeing to chop … “US budget impasse poses a big risk for the dollar”
New Zealand Dollar Tumbles After Earthquake
The New Zealand dollar slumped today against all other 16 most-traded currencies after the earthquake strengthened the risk-aversion mood on the markets. The earthquake of 6.3-magnitude resulted in multiple deaths and ruined buildings. The tragedy intensified the risk aversion sentiment that already was bolstered by the tension in North Africa and Middle East. NZD/USD dropped from 0.7635 to 0.7491 as of 16:28 GMT today after it reached earlier the intraday low of 0.7454. If you have … “New Zealand Dollar Tumbles After Earthquake”
Swiss Franc Gains on Tensions in Libya
The Swiss franc jumped today, rising to the highest level in three weeks versus the US dollar, as the tensions in Middle East intensified, driving investors to the safer assets. Muammar al-Gaddafi, the leader of Libya since 1969, renounced rumors that he has fled from the country, engulfed in the protests. The spokesman of Ban Ki-moon, the Secretary-General of the United Nations, said that the Secretary-General was “outraged at press reports that the Libyan authorities have been firing … “Swiss Franc Gains on Tensions in Libya”
Trade Leaders Program – $2 billion Already Traded
Investment in forex traders is on the move – Currensee’s trade leaders program hit the $2 billion mark in traded volume. The program allows people to automatically trade following closely monitored trade leaders, as they would invest in mutual funds. The program was launched around 4 months ago, and is growing rapidly. The overall yield … “Trade Leaders Program – $2 billion Already Traded”
FXStreet to Manage Forex Crunch Advertising
I’m happy to announce that the advertising management of this site will be managed by the large and established forex portal FXStreet. The deal will begin in April. This will allow me and the rest of the members on Forex Crunch to dedicate more time to content, and to boost its growth. For FXStreet, already … “FXStreet to Manage Forex Crunch Advertising”
Thai Baht Gains as Economy Grows
The Thai baht gained today on the speculation that the policy makers won’t prevent the appreciation of the currency as the economic growth increases the inflation pressure. The report today showed that Thailand’s economy expanded in 2010 with the fastest pace since 1995. The fast economic growth of the Asian countries causes the imbalances in the global economy and the Asian governments may allow their currencies to appreciate and reduce the import gains. USD/THB fell from 30.5750 to 30.5450 as of 14:53 … “Thai Baht Gains as Economy Grows”
NZ Dollar Rises on Outlook for Higher Farmer Payouts
The New Zealand dollar rose today, touching the highest level in a week, on the speculation that Fonterra Cooperative Group Ltd. will increase the payouts to farmers, supporting the New Zealand economic recovery. Fonterra already increase the payment to farmers by 4.5 percent on December 10 because of higher overseas prices for whole milk powder. Fonterra may decide on tomorrow’s meeting to raise the payouts again, as the whole milk powder prices reached the highest level … “NZ Dollar Rises on Outlook for Higher Farmer Payouts”