The Taiwan dollar gained today as the anticipation of the possible interest rates hike increased the appeal of the currency. The Economic Daily News said that Taiwan’s central bank may boos the interest rates after its Chinese counterpart has done so earlier. The Taiwan policy maker will discuss the rates hike this week in the quarterly policy meeting. USD/TWD went down from 29.6120 to 29.5005 as of 10:33 GMT today. If you have … “Taiwan Dollar Gains on Anticipation of Rates Hike”
Author: admin_mm
Euro Advances on Rally of Asian Stocks
The euro advanced against the US dollar today as the gains of the Asian stocks muted the impact of the interest rates hike in China, increasing the investors’ willingness to risk. The MSCI Asia Pacific Index of regional shares advanced 0.3 percent even after China’s central bank raised the interest rates by 25 basis points to 2.75 percent. The Dollar Index, which tracks the dollar versus the currencies of six major US trading partners, fell 0.2 … “Euro Advances on Rally of Asian Stocks”
MeetPips.com Follow Up Review
Guest post by Hugh Kimura In a previous post, I mentioned MeetPips.com and how it could be a great online solution for your trade journaling. Well, I don’t just write about stuff, I actually try them, so I started a profile and journaled my first trade. Like I said before, there are a lot of … “MeetPips.com Follow Up Review”
US Dollar Declines vs. Commodity Currencies on Signs of Recovery
The US dollar declined versus the higher-yielding currencies as the macroeconomic reports suggested that the economic recovery is underway, encouraging the investors to take more risk in seeking profits. The University of Michigan index of the consumer sentiment in its revised edition showed the increase from 71.6 in November to 74.5 this month. The claims for the unemployment benefits in the US continued to decline, falling from 423,000 to 420,000 last week. The personal income in the US grew 0.3 percent … “US Dollar Declines vs. Commodity Currencies on Signs of Recovery”
Loonie Gains vs. Greenback, Retreats vs. Aussie
The Canadian dollar strengthened today against its US counterpart as crude oil, the key export of Canada, rallied to the highest level in more than two years, but the loonie declined versus other commodity currencies as Canada’s economy grew in October less than expected. Canada’s gross domestic product increased 0.2 percent in October following the 0.1 percent decline in September. The forecasts promised the growth by 0.3 percent. Among the sectors contributed … “Loonie Gains vs. Greenback, Retreats vs. Aussie”
Fitch Cuts Hungary’s Rating, Greece May Follow; Euro Down
The euro dropped today after the Fitch Ratings agency downgraded the credit rating of Hungary and warned about the possible reduction of Greece’s rating, fueling the worries about the ability of the Eurozone peripheral economies to deal with the debt crisis. The Fitch downgraded Hungary’s long term foreign currency credit rating to BBB- with a negative outlook today, citing the lack of the coherent medium-term fiscal strategy. The agency also stated that “there is a heightened … “Fitch Cuts Hungary’s Rating, Greece May Follow; Euro Down”
South Africa’s Rand Gains for Fourth Day on High Interest Rates
The South African rand climbed today, posting the fourth straight day of gains, to the highest level in three years versus the US dollar as the investors seek higher yields while the developed nations keep their interest rates low. The investors seek profit from the higher interest rates in the emerging markets. The developed countries, like the US, the European Union and Japan, are reducing their interest rates closer to zero, while the rates in South … “South Africa’s Rand Gains for Fourth Day on High Interest Rates”
Allied Irish Bank to be Nationalized?
The Irish government currently holds only 18% of Allied Irish Banks, but might raise its stake to 91.5%, nationalizing the bank. This comes as the troubled bank is having trouble raising necessary money in order to operate, and as the government has sweeping powers for a cash injection and a takeover. Neil Hume reports Although … “Allied Irish Bank to be Nationalized?”
10 Most Popular Posts of 2010
2010 is coming to an end. It has been a very exciting year in forex trading, a year that saw high volatility and also saw the industry growing up, though painfully at times. Here are the most popular forex posts for 2010. Notes: This list excludes outlooks and news posts. So, the items are long-term, … “10 Most Popular Posts of 2010”
NZ Dollar Declines as Economy Deteriorates
The New Zealand dollar slumped today after the reports showed that the current account deficit widened, while the economy of the New Zealand deteriorated, worsening the outlook for the New Zealand dollar and decreasing demand for it. The current account deficit was NZ$1,770 million in the third quarter, rising from the deficit of NZ$0.99 million in the second. The New Zealand gross domestic product was down 0.2 percent in the September third quarter, following the 0.1 percent … “NZ Dollar Declines as Economy Deteriorates”