The US dollar extended its decline this week on the outlook for another round of the quantitative easing by the Federal Reserve but it unexpectedly rebounded by the end of the week after the speech of the Chairman Ben Bernanke. The dollar remained very weak on the outlook for the Fed to stimulate the US economy. The minutes of the Federal Open Market Committee supported this outlook. The unfavorable US macroeconomic fundamentals reinforced the prospects for the stimulus. The Bernanke’s speech should to confirm the expectations of the easing. … “Dollar Pares Losses This Week After Bernanke’s Speech”
Author: admin_mm
Pound Falls on Concerns About BOE Stimulus
The Great Britain pound fell today on the concern that the slow recovery would force Britain’s central bank to extend its stimulus measures. Earlier the currency surged versus the US dollar to the strongest level since January. The sterling was weakened by the concerns that the weak UK economy would prompt the Bank of England to keep its benchmark interest rate at the record low level of 0.5 percent. The speculation that the Bank plans to buy … “Pound Falls on Concerns About BOE Stimulus”
Loonie Declines with Commodities and US Consumer Confidence
The Canadian dollar slumped today against the US dollar after crude oil and other commodities declined and the US consumer confidence deteriorated, damping the demand for the currencies tied to the economic growth. The Dow Jones Industrial Average fell 0.6 percent and the MSCI Global Index of equities dropped 0.5 percent. November delivery for crude oil went down 0.5 percent to $82.25 per on NYMEX. The Preliminary Reuters/University of Michigan Consumer Sentiment unexpectedly fell … “Loonie Declines with Commodities and US Consumer Confidence”
Aussie Retreats After Reaching Parity with Greenback
The Australian dollar traded at parity with its US counterpart today before retreating on the speculation that the Aussie rallied too fast. The weakness of the greenback and the concerns for the US economy allowed the Australian dollar reach parity against the US currency for the first time. It looks like the traders haven’t got used to the idea of parity between these two currencies and unwilling to buy the Aussie at such high prices. The fundamentals haven’t changed, though, … “Aussie Retreats After Reaching Parity with Greenback”
Dollar Head to 15-Year Low vs. Yen Before Bernanke Speaks
The US dollar headed today to the lowest level in 15 years before the speech of the Federal Reserve Chairman Ben Bernanke, which may make clearer the steps intended by the Fed for the quantitative easing. The Federal Open Market Committee signaled this week about additional stimulus for the US economy, today’s Bernanke speech may provided more details about the intended measures. It looks like the traders put more attention to the US quantitative … “Dollar Head to 15-Year Low vs. Yen Before Bernanke Speaks”
International Pressure Makes Yuan Rise to Record vs. Dollar
The Chinese yuan climbed against the US dollar today to its highest level since 1993 on the speculation the Chinese policy makers will submit to the international pressure to allow the currency appreciate with faster pace. China’s central bank set the reference rate at 6.6582 per dollar, the highest level since the end of the dollar-peg in July 2005. Timothy Geithner, the US Secretary of the Treasury, in his speech to the International Monetary Fund urged China to let … “International Pressure Makes Yuan Rise to Record vs. Dollar”
South Korea Keeps Interest Rates Unchanged, Won Jumps
The South Korean won jumped today to the highest level in 5 months after South Korea’s central bank refrained from raising the interest rates. The Bank of Korea left its seven-day repurchase rate unchanged at 2.25 percent for the third month today, after increasing it from the record low 2 percent in July. South Korea’s officials voiced the concern about the volatility of the interest rates across the world, which may harm … “South Korea Keeps Interest Rates Unchanged, Won Jumps”
Loonie Trades at Parity with Greenback for First Time Since April
The Canadian dollar gained today, reaching parity with the US currency for the first time since April, on the rally of the commodity prices and as Canada expected to be the first nation among the Group of Seven to balance its budget. The weakness of the US currency itself also helped the loonie to reach parity. The meeting of Canada’s central bank policy makers on October 19th should has great impact on the moves of the Canadian currency, as on this meeting the interest rates … “Loonie Trades at Parity with Greenback for First Time Since April”
Aussie Hits New Record, Trades Near Parity with Greenback
The rally of the Australian dollar continues and the Aussie traded near the parity with the greenback today as the Asian stocks gained, suggesting the global recovery is gaining momentum. The MSCI Asia Pacific Index of regional shares advanced 1.8 percent today, while the Standard & Poorâs 500 Index gained 0.7 percent yesterday to the highest level since May 3rd. The riskier currencies, including the Australian dollar, were also supported by the forecast that … “Aussie Hits New Record, Trades Near Parity with Greenback”
The Truth About Trading
Trading isn’t difficult. There I said it. Now I know this may go against every thing that you may have read online or heard from friends, but before you get all up in arms and prepare to burn me at the stake just hear me out. Guest post from visionsofaffluence.com Trading like most things in life … “The Truth About Trading”