The Swiss franc slipped today against the euro after Axel Weber said that the European Central Bank should end its bonds-purchase program. The franc also fell after reaching the record high level versus the US dollar. Weber, the President of the Deutsche Bundesbank and the Member of the Governing Council of the European Central Bank, said yesterday “these securities purchases should now be phased out permanently”. Weber’s comments provided support … “Swiss Franc Falls After Hitting Record vs. Dollar, Drops vs. Euro”
Author: admin_mm
Canadian Dollar Heads to Parity with Greenback
The Canadian dollar traded near parity with its US counterpart after the report showed the new home prices unexpectedly grew in August and as the commodities rallied, increasing the appeal of the growth-related currencies. The New Housing Price Index increased 0.1 percent in August following the 0.1 percent decrease in July. The analysts expected the 0.1 percent drop. November delivery for crude oil, the key Canada’s export, gained as much as 2.2 percent to $83.45 per … “Canadian Dollar Heads to Parity with Greenback”
The Face of the Forex Trader
Initial results from a wide survey of forex traders has been released and has interesting findings about the reasons for choosing forex, reasons for choosing brokers, the most popular pairs, and lots more . Here are the key findings: The survey covered 3000 traders from all over the world, and was conducted September 2010. Findings: … “The Face of the Forex Trader”
South Korean Won Rise on Growth Prospect & Fed’s Easing
The Asian currencies, including the South Korean won, gained today on the growth prospects of the Asian region and after the US Federal Reserve signaled yesterday that it may add more stimulus to support the economy. The suggestion of the Fed that it may ease policy caused the dollar to drop against most currencies, including the Asian ones. The International Monetary Fund said that the economies of the Asian developing countries would grow 9.4 percent … “South Korean Won Rise on Growth Prospect & Fed’s Easing”
Yen Weakens as Stocks Gain, Talks About Intervention Intensify
The Japanese yen went down today as the Asian stocks rallied, causing the speculation that the region’s economy continues to grow and damping the demand for the Japanese currency as the safe haven. The MSCI Asia Pacific Index of regional shares rose 0.3 percent and the Nikkei 225 Stock Average went up 0.2 percent. The Japanese policy makers continue to complaint about the yen’s strength, adding to the reasons to believe in another intervention. USD/JPY rose from 81.71 … “Yen Weakens as Stocks Gain, Talks About Intervention Intensify”
Dollar Falls as Federal Reserve Signals About Easing
The dollar weakened after the Federal Open Market Committee released the minutes of its policy makers’ meeting, which signaled about the second round of quantitative easing. The minutes said: Many participants noted that if economic growth remained too slow to make satisfactory progress toward reducing the unemployment rate or if inflation continued to come in below levels consistent with the FOMC’s dual mandate, it would be appropriate to provide … “Dollar Falls as Federal Reserve Signals About Easing”
Fundamental Overview – Market Movers Last Week –
The U.S. Dollar continued sliding against all the major currencies last week, extending the previous two weeks’ substantial losses even further. The U.S. Dollar Index lost -0.76 points last week to close at 77.33, showing a net loss of -0.98 percent on the week. The Dollar Index is now showing a net loss of 0.53 … “Fundamental Overview – Market Movers Last Week –”
Can Euro Resume Its Rally After Decline?
The euro retreated today against the US dollar and the Japanese yen on the speculation that it rallied too much earlier. It may still resume its rally depending on the decisions of the US and Japanese policy makers. The minutes of the Federal Reserve policy makers’ meeting scheduled to be released today. In case the Fed would perform the expected quantitative easing the dollar would resume its downfall. The talks suggest that Japan may intervene … “Can Euro Resume Its Rally After Decline?”
Pound Weakens as UK Houses Prices Decline
The Great Britain pound dropped today after the report showed the decline of the house prices, signaling about the lack of the buyers’ confidence and the lack of the mortgages. The survey of Royal Institution of Chartered Surveyors showed that the surveyors reporting the prices decline exceeded by 36 percent those who reported about the increase of the prices in September. That’s compared with the previous reading of 32 percent reporting decrease. GBP/USD fell from 1.5881 to 1.5818 as of 10:20 GMT … “Pound Weakens as UK Houses Prices Decline”
Yuan Weakens on Threats of Trade Sanctions from US & Europe
The yuan touched the highest level versus the US dollar today in more than two years on the speculation that China would allow its currency appreciate as the US and Europe threaten to implement the trade sanctions. The wave of the interest rate cuts across the world caused the concerns about the so-called “currency war” as the nations attempts to weaken currencies to support their economies. On the annual meeting of the International Monetary Fund last week worries were voiced … “Yuan Weakens on Threats of Trade Sanctions from US & Europe”