The Australian dollar climbed to parity with its US counterpart today as the global economy recovers, commodity prices advance and private investment in the nation increases, reducing the incentives for an interest rates cut. The Reserve Bank of Australia kept its cash rate at 4.75 percent, continuing to attract speculators interested in so-called carry trades. The Bank’s Governor Glenn Stevens indicated that the global production strongly grew last year and said that the inflation … “Aussie Reaches Parity with Greenback as RBA Holds Interest Rates”
Author: admin_mm
Egyptian Opposition to Declare Liberated Zone
There are unconfirmed reports that Egyptian opposition forces are about to take over one of the cities in the Egyptian Delta and to declare it as a liberated land with a free new government. Opposition factors are aided by former army generals and security such as the Mukhabarat. As the current regime is reluctant to … “Egyptian Opposition to Declare Liberated Zone”
FOREX.com Execution Time – 0.08 Seconds
Forex broker Gain Capital, owner of forex.com, released interesting execution data. Average execution time is 0.08 seconds, and 99.7% or all trades are performed within one second. Michael Greenberg reports about these interesting figures, and mentions that the publication could be related to the fact that Gain Capital was fined by the NFA for manipulations … “FOREX.com Execution Time – 0.08 Seconds”
Pound Rallies on Anticipation of Interest Rates Hike
The Great Pound posted an impressive advance for the second day today as more and more policy makers are starting talking about necessity of the interest rates increase to suppress the accelerating inflation. Martin Weale, the policy maker at the Bank of England, said that there is a “powerful case” for a “modest rise” in the interest rates. The inflation in the UK accelerated to 3.7 percent in December, significantly exceeding the central bank’s target of 2 percent. The central bank’s Governor … “Pound Rallies on Anticipation of Interest Rates Hike”
Loonie’s Strength Threatens Canadian Economy Carney Says
The Canadian dollar was rising against the US dollar, than sharply dropped, and now is trying to rebound as the global and the domestic fundamentals looks favorable for the currency. The currency slipped against the euro. Mark Carney, the Governor of the Bank of Canada, voiced his concern about the strength of the Canadian currency last week in the interview at the World Economic Forumâs annual meeting: One of the risks to the Canadian economy is persistent strength to the Canadian dollar. We have … “Loonie’s Strength Threatens Canadian Economy Carney Says”
Israel Hit By Grad Rockets from Gaza
Grad rockets have hit the Israeli southern towns of Ofakim and Netivot. They were sent by the Hammas controlled Gaza strip, following the uprising in Egypt. No injuries were reported. On Monday evening, one Grad missile fell near Netivot and caused serious damage to a car. Another rocket hit Ofakim. A few people were terrified, … “Israel Hit By Grad Rockets from Gaza”
NZD Benefits from Recovering Economy
The New Zealand dollar rose slightly against its US counterpart as the New Zealand economy slowly recovers from its previous recession. The currency slipped against its Australian counterpart. The economy of New Zealand was hurt by the earthquake in Christchurch region last year, as well as the global recession earlier, and now attempts to recover, benefiting from rising commodity prices. Alan Bollard, the Governor of the Reserve Bank of New Zealand, said: “We … “NZD Benefits from Recovering Economy”
Muslim Brotherhood Wants War With Israel
Mohamed Ghanem, one of the leaders of the Muslim Brotherhood in Egypt, calls Egypt to stop pumping gas to Israel and prepare the Egyptian army for a war with it’s eastern neighbor. Speaking with Iranian television station Al-Alam, Mohamed Ghanem blamed Israel for supporting Hosni Mubarak’s regime. Ghanem also said that the Egyptian police and … “Muslim Brotherhood Wants War With Israel”
Euro Rises with Consumer Prices
The euro rose against the US dollar today after the report showed consumer prices in the Eurozone advanced more than the analysts forecast. The annual inflation in the Eurozone is expected to be 2.4 percent in January 2011 according to a flash estimate issued by Eurostat, the statistical office of the European Union. It was 2.2 percent in December 2010. The median estimate of the economists on Bloomberg was 2.3 percent. EUR/USD advanced today from 1.3578 to 1.3652 … “Euro Rises with Consumer Prices”
Martin Weale Less Supportive of Rate Hike
Last week’s meeting minutes from the MPC revealed that there’s one more member, Martin Weale, that is supportive of a rate hike. Weale joined Sentance that has voted for a hike for quite a long time. But Weale’s vote came before the horrible GDP figure which showed that the British economy squeezed by 0.5% in … “Martin Weale Less Supportive of Rate Hike”