The Swiss franc rallied today against the US dollar, heading to the record, as the leading economic indicators showed the sustainable economic growth. The KOF Economic Barometer posted a reading of 2.10, which was rather higher, despite declining from the previous level of 2.13 in the third straight drop. The report also forecasts that the economy would continue its growth, albeit at a slower pace. USD/CHF rallied today from 0.9520 to 0.9502 as of 13:19 GMT … “Franc Rallies as Swiss Economy Grows”
Author: admin_mm
South Korea’s Won Gains vs. Dollar, Fall vs. Euro
The South Korean won rose against the US dollar as the manufacturers confidence improved. The currency slipped versus the euro amid the geopolitical uncertainty. The Bank of Korea reported that the index of the expectations for January went up from 91 to 92 in December. The index of non-manufacturing expectations slipped from 92 to 87. The analysts say that the South Korean currency would stop appreciation as the importers would buy dollars at current high prices. The tension between … “South Korea’s Won Gains vs. Dollar, Fall vs. Euro”
Poor Economic Data & Rising Commodities Weaken US Dollar
The US dollar slipped today against the commodity currencies on the unfavorable macroeconomic reports from the US and on the rally of the commodities. The S&P/Case-Shiller Home Price index posted an annual decline in October by 0.8 percent, compared to the expected reading of 0.1 percent. The Conference Board Consumer Confidence Index decreased to 52.5 in December after rising to 54.3 in November. The predicted value was 56.2. The poor economic data makes the traders to believe that the Federal Reserve would … “Poor Economic Data & Rising Commodities Weaken US Dollar”
Outlook for Declining US House Prices Bolsters Swiss Franc
The Swiss franc rallied today versus the US dollar on the speculation that the declining house prices would prompt the Federal Reserve to keep the interest rates near zero. The experts estimated that the Standard & Poor’s Case-Shiller (CS) House Price Index would show a decline by 0.1 percent in tomorrow’s report. The lackluster demand for the housing signals that the economy of the US isn’t strong enough yet to survive without stimulus. USD/CHF dropped … “Outlook for Declining US House Prices Bolsters Swiss Franc”
Ruble Climbs on Record Oil Prices & Higher Interest Rates
The Russian ruble jumped today to the highest price in two months, heading to the best monthly performance this year, after the crude oil prices touched the highest level in two years and as Russia’s central bank increased the interest rates. Bank Rossii, Russia’s central bank, raised the rate charged on the ruble deposits kept with the central bank by 25 basis points to 2.75 percent on December 24th. Crude oil climbed today 0.4 … “Ruble Climbs on Record Oil Prices & Higher Interest Rates”
Inflation and the Dollar
There are growing doubts about the official CPI numbers in the US. Oil and food prices are going up in the markets, but aren’t seen in CPI. If inflation will indeed rise, how will this affect the dollar? Here are some thoughts of a scary scenario. The well known investor Jim Rogers says that the … “Inflation and the Dollar”
FxPro Monthly Revenue – $1000 Per Client
In case you’ve missed it, Michael Greenberg got his hands on the financials of FXPro – a Cyprus based broker that is seeking an IPO. FX Pro is rapidly growing in its four years of existence , with 17,000 accounts (as of June 2010) and a monthly trading volume of $55 billion. According to the … “FxPro Monthly Revenue – $1000 Per Client”
Yuan Slips as China Raises Interest Rates and May Do So Again
The Chinese yuan slipped today as the central bank raised its interest rates in an attempt to curb China’s significant inflation and to prevent the asset-bubble. China’s economic growth makes traders expect another rates hike in the future. The Peopleâs Bank of China raised its key one-year lending and deposit rates by 25 basis points on the Christmas Day, the second increase since mid-October. The benchmark lending rate advanced to 5.81 percent, while it was … “Yuan Slips as China Raises Interest Rates and May Do So Again”
Higher Interest Rates in China Weaken Australian Dollar
The Australian dollar declined against the euro after China’s central bank increased its interest rates, causing speculation that China may intensify its attempts to curb the inflation. The Australian currency posted small gains versus the US dollar and the Japanese yen. The Peopleâs Bank of China raised its key one-year lending and deposit rates by 25 basis points to 5.81 percent on December 25th. The higher interest rates will likely … “Higher Interest Rates in China Weaken Australian Dollar”
Ellliott Wave: DAX Gains Will Slow Down in Start Of
Traders who are positioned Long on DAX or any other major indices, may look to start booking profits, as index is trading in a wave (5) and approaching its 7140-7180 target/resistance zone. This its a final sub-wave of a five wave rally shown from 5327 August 2010 lows, so any gains will likely slow down … “Ellliott Wave: DAX Gains Will Slow Down in Start Of”