The South African rand fell today for the third day against the US dollar as the economists predict that the report would show the slower pace of the manufacturing growth, signaling that South Africa’s economy declines. According to the analysts’ estimates, the manufacturing expanded 6 percent in July, compared with 8.8 percent in June. The manufacturing accounts for about 15 percent of South Africa’s economy. The nation’s economic growth slowed from 4.6 percent in the first … “Rand Weakens for Third Day as Manufacturing Growth Stalls”
Author: admin_mm
EUR/USD Sep. 8 – Weber Contributes to Downfall
EUR/USD took a hard hit on the fresh news about the European debt crisis and deteriorated sharply. It ranges lower. Will it lose the critical support line? Here is a quick update on technicals, fundamentals and community trends. EUR/USD broke below two uptrend support channels. Click to enlarge. EUR/USD Technicals Asian session: Busy session, with … “EUR/USD Sep. 8 – Weber Contributes to Downfall”
Global Economic Environment is Bad for Canadian Dollar
The Canadian dollar slumped today against the US dollar on the concerns that the European sovereign-debt crisis may worsen and as the stocks and crude oil declined. The euro was hurt by the concerns about the sovereign debt more than the Canadian currency, therefore the loonie rose against the shared 16-nation European currency. The Standard & Poorâs 500 Index went down 0.8 percent and the MSCI World Index of stocks dropped 1 percent. October delivery … “Global Economic Environment is Bad for Canadian Dollar”
Fundamental Overview – Market Movers Last Week –
The U.S. Dollar fell across the board against all the major currencies last week with the exception of the Pound Sterling. The most price action was seen against the commodity dollars with the Aussie, Loonie and Kiwi ending up as the best performers versus the Greenback last week. Traders reported that the primary piece of … “Fundamental Overview – Market Movers Last Week –”
RBA Keeps Interest Rates Unchanged, Aussie Weakens
The Australian dollar weakened today after the Reserve Bank of Australia kept the interest rates unchanged and on the outlook that the Prime Minister Julia Gillard would keep power and her Labor Party to retain government. The RBA left the overnight cash rate target at 4.5 percent, as was predicted by the analysts. The experts say that the economic situation in Australia itself warrants the higher interest rates. The reason for the central bank to refrain from the rates hike … “RBA Keeps Interest Rates Unchanged, Aussie Weakens”
Worries About Health of Europe’s Banks Drive Euro Down
The euro slumped today on the concerns that the health of the European banks would deteriorate as they hold the government debts, damping the outlook for Europe’s economy. The Wall Street Journal said that the stress tests of the major European banks underestimated some holdings of the government debt. The European Union performed the stress test of the banks in July. According to the report of the Journal, some banks excluded debt of the certain countries from their totals and others reduced amounts … “Worries About Health of Europe’s Banks Drive Euro Down”
Yen Appreciates on Outlook for US Quantitative Easing
The Japanese yen gained today on the forecast that the Federal Reserve would be required to print more money to support the faltering US economy. The quantitative easing should decrease the appeal of the US dollar and boost the attractiveness of the yen as the safe haven. The strong currency is the last thing the Japan needs these days, but the direct intervention is likely will be opposed by the US. USD/JPY slid from 84.18 to 83.87 today as of 9:24 … “Yen Appreciates on Outlook for US Quantitative Easing”
Comeback of European Debt Problems?
A fresh report shows that many big European banks were very “creative” when it came to estimating the size of the sovereign debt that they held. This already sent the Euro way down. Will this turn into an avalanche? Is the debt crisis returning through the front door? At the beginning of May, the financial … “Comeback of European Debt Problems?”
EUR/USD Sep. 7 – Stabilizing after a collapse
EUR/USD collapsed on low volume, and will pick a new direction now that the holiday is over. Here is a quick update on technicals, fundamentals and community trends. EUR/USD within uptrend channels. Click to enlarge. EUR/USD Technicals Asian session: Eventful session, with Euro/Dollar dropping sharply from 1.2880 to 1.2780, breaking both uptrend support lines. The … “EUR/USD Sep. 7 – Stabilizing after a collapse”
RBA Would Keep Interest Rates Unchanged
The Reserve Bank of Australia will keep the interest rates unchanged, according to the forecasts of the economists, as the concerns for the global economic recovery prompt the policy makers to support the nation’s economy. The pause in the rates increase may have negative impact on the performance of the Australian dollar, which for now rises. The S&P 500 index dropped 4.7 percent in August and the MSCI World Index slipped 3.9 percent. Australia’s economic growth likely won’t support the inflation as the boost … “RBA Would Keep Interest Rates Unchanged”