The Swiss franc gained today, strengthening versus the US dollar for the fourth day and rising against other most-traded currencies, as the worries that the tensions will spread across the Middle East spurred demand for the safe currencies. The demonstrators in Bahrain demand resignation of Prime Minister Sheikh Khalifa bin Salman al-Khalifa, protesting for the third day. The protests have left at least three people dead. The people are also protesting in Yemen and Libya. USD/CHF … “Franc Gains as Unrest in Middle East Spurs Demand for Safety”
Author: admin_mm
King Cools Expectations for Interest Rates Hike, Sterling Drops
The Great Britain pound weakened today after Bank of England Governor Mervyn King suggested that the Bank isn’t ready for the interest rates hike. The inflation exceeded the target of the BoE for more than a year, causing the Governor to write the explanation to Chancellor George Osborne. This letter fueled hopes for the increase of the interest rates. King cooled these expectations today at the press conference about the Inflation Report in London: The market has gotten it … “King Cools Expectations for Interest Rates Hike, Sterling Drops”
Australian Dollar Rises as Asian Stocks Gain
The Australian dollar recovered from the two-year low after the Asian stocks advanced, increasing demand for the higher-yielding currencies. The MSCI Asia Pacific Index of shares gained 0.3 percent. The minutes of the Monetary Policy meeting of the Reserve Bank of Australia’s board signaled that an increase of the interest rates may be performed in the near future: Given the medium-term outlook for the economy, and the limited amount of spare capacity that existed, members judged that this slightly … “Australian Dollar Rises as Asian Stocks Gain”
Great Britain Pound Rises as BOE Governor Expects High Inflation
The Great Britain pound gained as Bank of England Governor Mervyn King was hawkish about the inflation, causing the speculation that the Bank may raise the interest rate soon. King wrote in his letter to Chancellor George Osborne: Inflation is likely to continue to pick up to somewhere between 4% and 5% over the next few months, appreciably higher than when I last wrote to you. That primarily reflects further pass … “Great Britain Pound Rises as BOE Governor Expects High Inflation”
Important Week for US Dollar, Can It Confirm Bullish Trend?
Last week was very important for the US dollar because the currency reversed its bearish trend and strengthened versus most of its counterparts. This week can be even more important as it may confirm the trend or break it. Most analysts, including Daily FX, Action Forex and Forexyard, are pretty optimistic about the US currency. The spreading unrest in Northern Africa and the Middle East, the renewed concerns about European … “Important Week for US Dollar, Can It Confirm Bullish Trend?”
Cable: It’s just a corrective pull-back- Elliott Wave
Cable is in uptrend for a few weeks now, and a recent decline does not signal for any change in trend. In fact, a personality of a current fall from 1.6275 is clearly corrective; slow and choppy waves, which means that larger uptrend is incomplete. As such, on the 4h chart a recent decline is … “Cable: It’s just a corrective pull-back- Elliott Wave”
Rumor: Mubarak Death Imminent
There are more reports that ex-Egyptian president Hosni Mubarak is very sick and that his death is imminent. Reportedly, Mubarak refused to accept medical treatment, fell into a coma and will die at Sharm el-Sheikh. Initial rumors about his coma were heard a few days ago, but now these reports are heard from various sources. … “Rumor: Mubarak Death Imminent”
South Korean Won Gains on China’s Inflation
The South Korean won recovered from its earlier losses today as the lower than expected growth of China’s consumer prices reduced probability of further tightening by Chinese government to reduce inflation. China’s annual inflation grew 4.6 percent last month, compared to the analysts’ expectations of 5.4 percent growth. Chinese government was trying to reduce the growth of inflation by performing tightening measures, but now the government may for some time refrain … “South Korean Won Gains on China’s Inflation”
Japanese Yen Weakens as Demand for Safety Wanes
The Japanese yen weakened today as the slower than expected inflation in China and improving economy of Europe decreased demand for safer currencies. China’s statistics bureau reported that the consumer prices advanced 4.9 percent in January from a year ago, compared with the growth by 4.6 percent in December. The median forecast promised an increase by 5.4 percent. The slowing inflation reduces the probability of further tightening measures by China’s government. The reports from Europe today … “Japanese Yen Weakens as Demand for Safety Wanes”
Canadian Dollar Weakens After Crude Declines, Still Looks Good
The Canadian dollar weakened against its US counterpart today after crude oil declined, but the speculation that Canada’s central bank will raise the interest rates before the European Central Bank allowed the Canadian currency to erase the losses versus the euro. The loonie strengthened at the beginning of today’s trading session as crude oil, the key export of Canada, advanced after the report that China’s imports surged 51 percent last month. … “Canadian Dollar Weakens After Crude Declines, Still Looks Good”