The Canadian dollar rose as the North American stocks rallied after the hostile bid for the Potash Corp. by the BHP Billiton Ltd., which increased the appeal of the growth-linked assets. The future for crude oil, Canadaâs main export, slid as much as 2.6 percent to $73.83 on NYMEX, the lowest level since July 7th. The slump of the oil prices was overshadowed by the rally of the stocks after the BHP offered $130 in cash for each Potash share ($40 billion for the whole … “Loonie Rallies After BHP’s Potash Hostile Bid”
Author: admin_mm
Japanese Yen Strengthens on Renewed Demand for Safety
The Japanese yen rose today as the renewed concerns that the recovery of the global economy is losing the traction fueled the demand for the safer assets. The experts say that Federal Reserve is expected to increase its purchasing of the bonds as the US economy may weaken. The recent improvement of the sentiment on the global markets wasn’t strong enough to completely remove the concerns for the global economy. The yen also strengthened as the concerns, that the policy makes will intervene to limit … “Japanese Yen Strengthens on Renewed Demand for Safety”
Aussie Falls on Lower Wages Growth
The Australian dollar fell today against the Japanese yen on the speculation that Japan’s central bank will refrain from curbing the yen’s gains and after Australia’s wages growth slowed. The Aussie also dropped versus the greenback. The people, who claimed to be familiar with the plans of the Bank of Japan, said that the central bank has no intention to weaken the Japanese currency. The growth of the Australian Wage Price Index slowed from 0.9 … “Aussie Falls on Lower Wages Growth”
Thai Baht Rises on Outlook for Growth of Asian Economies
The Thai baht went up today on the speculation that the fast growth of the Asian nations would attract more investors to the region, increasing the appeal of the Asian currencies. The central banks of some Asian nations, including Thailand, raised the interest rates this year, making their currencies higher yielding than the currencies of the Group of the Seven Nations. The International Monetary Fund predicted that the Asian developing economies would grow 9.2 percent this … “Thai Baht Rises on Outlook for Growth of Asian Economies”
Yen Drops as Demand for Safety Wanes
The Japanese yen dropped today as the rally of the global equities damped the demand for the safer currencies and on the anticipation of the intervention by the central bank. The Standard & Poorâs 500 Index and the MSCI Asia Pacific Index of shares rose by 0.3 percent each. The improving conditions on the global markets prompted the investors to actively sell the yen, which they bought for the safety in case of the recession. The sell-off cut the Japanese currency’s prices. The yen also slipped on the speculation that Naoto … “Yen Drops as Demand for Safety Wanes”
Canadian Dollar Strengthens on Stocks & Oil Prices
The Canadian dollar strengthened today as the gains of the global stocks and the rising oil prices spurred the demand for the currencies related to the economic growth. The Standard & Poor’s 500 Index rose 1.6 percent and The MSCI World Index gained 1.4 percent. Crude oil, Canadaâs key export, jumped as much as 1.9 percent to $76.63 per barrel on the New York Mercantile Exchange. The manufacturing sales grew 0.1 percent in June, following the 0.5 percent … “Canadian Dollar Strengthens on Stocks & Oil Prices”
Aussie Rallies for Second Day on Stocks & Economic Outlook
The Australian dollar rallied against its US counterpart today after the Asian stocks rose, increasing the demand for the riskier higher-yielding currencies, and on the improving outlook for the global economic growth. The MSCI Asia Pacific Index of shares rose 0.3 percent today, the third day of the advances. The Aussie was also bolster after the Minutes of the Monetary Policy Meeting of the Reserve Bank Board said that “sentiment in financial markets had improved over the past … “Aussie Rallies for Second Day on Stocks & Economic Outlook”
South Korean Won Jumps on Interest Rate Outlook
The South Korean won jumped today on the speculation that the central banks of the Asian nations would raise the interest rates, attracting more investors to the region. The Bank of Korea expected to allow the won appreciate as the inflation forecast to rise to the upper end of the targeted range by the fourth quarter. The growth of the consumer prices in some other Asian countries, including Malaysia, also accelerated. USD/KRW slumped from 1,186.40 to 1,175.90 today as of 13:59 GMT. If you have … “South Korean Won Jumps on Interest Rate Outlook”
Forex SMS Alerts – Mobile4X Review
Mobile4X is a new services that provides custom real time SMS alerts on forex rates. The free service can be set send alerts on a time basis or upon a breach of a technical level. Here’s a review. Mobile4X was developed by Peter Blaikie, who wanted to relieve forex traders of their habit to attach … “Forex SMS Alerts – Mobile4X Review”
Fundamental Overview – Market Movers Last Week –
The U.S. Dollar’s fortunes reversed considerably last week, as the Greenback rallied on increased risk aversion after China showed disappointing import figures. Also helping the Dollar’s fortunes was the FOMC’s indication that the Fed would be buying long term Treasuries with repayments from agency debt and mortgage backed securities. The Greenback gained significantly against all … “Fundamental Overview – Market Movers Last Week –”