The Japanese yen strengthened today after Naoto Kan, the Prime Minister of Japan, won the vote of the Democratic Party of Japan, beating his rival Ichiro Ozawa. Ozawa stated last week that the government needs to intervene in order to prevent the yen’s appreciation as the stronger currency hurt the exports, making them more expensive. The Kan’s government is considered too weak to intervene in the market. The yen also gained after the bad economic data … “Yen Rises As Kan Wins DPJ Vote, Intervention Unlikely”
Author: admin_mm
Swiss Franc Goes Down as China’s Industrial Output Grows
The positive economic data from China caused the Swiss franc to depreciate against the euro, as the signs of the Chinese economic growth decreased the demand for the safety. The US dollar weakened versus the franc. The annual growth of the Chinese factory output was 13.9 percent in August. The good macroeconomic data from China boosted the equities, causing the MSCI World Index to rise 1.4 percent. The resulting optimism among the traders wasn’t good for the franc, as the investors tend … “Swiss Franc Goes Down as China’s Industrial Output Grows”
Fundamental Overview – Market Movers Last Week –
The U.S. Dollar put in a mixed performance last week against the other major currencies, falling against the Yen and commodity dollars, while rising significantly versus the European currencies that included both the Euro and the Pound Sterling. The most significant price action was seen last week against the Euro which fell considerably versus the … “Fundamental Overview – Market Movers Last Week –”
Good Risk Sentiment Bolsters Canadian Dollar
The brighter outlook for the economic growth of the US and China bolstered the stocks and the commodity prices today, improving the risk sentiment. The investors’ willingness to risk benefited the Canadian dollar, which jumped to the highest level in three weeks. Chinaâs industrial output advanced 13.9 percent in August from the previous year and the annual growth of the retail sales were 18.4 percent last month. The report about the US retail sales will be released tomorrow; the analysts … “Good Risk Sentiment Bolsters Canadian Dollar”
Mexico’s Peso Rises on Crude Oil & US Stocks
The Mexican peso strengthened against the US dollar today for the fourth day as crude oil gained and the US equities went up, making Mexico’s peso the best performing currency of Latin America. Prices for crude oil, one of the main sources of revenue for Mexico, rose 2.9 percent to $76.40 per barrel. The Standard & Poorâs 500 Index gained 0.5 percent. The Mexican currency advanced 0.1 percent last week. USD/MXN fell … “Mexico’s Peso Rises on Crude Oil & US Stocks”
Euro Gains as Recovery Concern Ease, Basel Extends Deadlines
The euro gained today versus the US dollar and the Japanese yen as China’s economic expansion improved outlook for the global economic recovery and as the banks were given eight years to comply with more strict capital rules. The Chinese reports showed higher than predicted retail sales and the biggest advance of the industrial production in three months, supporting the outlook for the sustainable global recovery. The Basel Committee on Banking Supervision extended to eight years the deadline for the lenders … “Euro Gains as Recovery Concern Ease, Basel Extends Deadlines”
Week of Risk Appetite Boosts New Zealand Dollar
The improving outlook for the global economic recovery helped the New Zealand dollar to rise for the most part of the week (in fact, the upward trend showed itself in the week before) and become one of the best performing currency (together with the Australian dollar) this week. The New Zealand dollar was rising for four days of this week, declining only on Tuesday versus the yen and the greenback. Excluding this decline, it was rising for seven days. Against the euro … “Week of Risk Appetite Boosts New Zealand Dollar”
Sixth Day of Gains for AUD/USD on Outlook for US & China’s Growth
The Australian dollar rallied today for the sixth straight day versus the euro and for the third against the US dollar and the Japanese yen as the outlook for the US and China’s economies improved, making the investors more willing to risk and increasing demand for the riskier assets. The report yesterday showed that the applications for the unemployment benefits in the US decreased by 27,000 last week. The US retail sales gained 0.3 percent in August, following the advance by 0.4 percent in July, according to the forecasts. … “Sixth Day of Gains for AUD/USD on Outlook for US & China’s Growth”
Loonie Slips as Probability of Rates Hike Looks Low
The Canadian dollar weakened today versus its US counterpart and halted the five-day rally against the euro after Mark Carney, the Governor of the Bank of Canada, said that the policy maker would be “careful” in considering whether to raise the interest further and their decision will be influenced by the outlook for the US economic growth. Currently the currency is slowly regaining its strength. The hawkish statement of the Bank of Canada earlier caused the traders to bet … “Loonie Slips as Probability of Rates Hike Looks Low”
Forex Traders Survey
CitiFX launches a wide survey of forex traders – wide in the number of participants and deep in the number of questions. Anyone can participate. The results are due in October. 25 questions are presented in this survey. They cover a wide range of array of areas that are significant to forex traders. CitiFX says … “Forex Traders Survey”