The Japanese yen slipped today against most other major currencies after the central bank’s official said that they would closely monitor the currency’s movement, leading to the speculations that the central bank would limit the yen’s gains. The current grim outlook for the global economy is generally favorable to the yen as the safe currency. The US unemployment claims rose unexpectedly last week. The Standard & Poorâs 500 Index dropped 1.2 … “Yen Falls as Speculation About Intervention Persists”
Author: admin_mm
Aussie & Kiwi Decline on Unemployment
The Australian and the New Zealand dollars fell today after the jobless claims in the US rose unexpectedly and equities dropped, damping the investors’ willingness to risk and decreasing the appeal of the higher-yielding currencies. The initial unemployment claims rose to 484,000 from the previous week’s revised figure of 482,000. The analysts were totally wrong, expecting the decrease to 465,000. The MSCI World Index dropped as much as 1.1 percent. The Australian dollar also weakened after the unemployment rate unexpectedly … “Aussie & Kiwi Decline on Unemployment”
Yuan Declines on Efforts of Chinese Policy Maker to Keep it Low
The Chinese yuan fell today on the speculation that the signs of the deteriorating global economy may prompt the Chinese policy makers to limit the currency’s gains in order to prevent the damage to the exports, which the strong currency may cause. The Peopleâs Bank of China lowered today the daily reference rate by 0.36 percent to 6.8015 versus the dollar. The US officials stated that in the previous month the yuan was undervalued as the Chinese government keeps the currency rate artificially … “Yuan Declines on Efforts of Chinese Policy Maker to Keep it Low”
Japanese Currency Weakens on Talks About Intervention
The Japanese yen declined today versus the euro and the Great Britain pound on the speculation that the policy makers would take measures to prevent the currency appreciation, which may hurt the nation’s recovery base on the exports. The currency rose against the US dollar. The policy makers from the Ministry of Finance and Bank of Japan met to discuss financial markets, but it was told that they haven’t discussed the monetary policy at the meeting. The last time … “Japanese Currency Weakens on Talks About Intervention”
Canadian Dollar Fall vs. Greenback to Three-Week Low
The Canadian dollar fell versus the greenback today to the lowest level since July 22nd after the Federal Reserve suggested that the US economy would grow with slower pace, reducing the appeal of the growth-linked currencies. The Canadian currency managed to outperform the euro. The Standard & Poorâs 500 Index dropped 1.5 percent. Crude oil, Canada’s key export, fell 1.2 percent to $79.32 per barrel in New York. The Fed said … “Canadian Dollar Fall vs. Greenback to Three-Week Low”
Global Economic Outlook Remains Grim, Pushing Dollar Higher
The US dollar surged today versus the Great Britain pound and the euro as the signs of the global economy’s slowdown spurred the investors to look for the safer currencies. The yen outperformed the greenback as the concerns for the US economy made the Japanese currency more appealing as the safe currency. The Standard & Poorâs 500 Index went down by 2.1 percent and the Stoxx Europe 600 Index slipped 1.8 percent. The deficit of the US trade balance increased to $49.9 billion in June, … “Global Economic Outlook Remains Grim, Pushing Dollar Higher”
Sterling Declines as Confidence of Consumers Wanes
The Great Britain pound declined today against the US dollar and the Japanese yen as the concerns about the possible slowdown of the nation’s economic growth weakened the currency. The Nationwide consumer confidence index dropped to 56 in July from the previous value of 63. The median forecast value was 60. The pound was also weakened as the forecast of the Federal Reserve about the slower US economic growth increased the concerns about the global economic recovery. GBP/USD dropped … “Sterling Declines as Confidence of Consumers Wanes”
Rand Weakens on Slower Manufacturing Growth
The South African rand dropped versus the US dollar today, following yesterday’s decline, on the speculation that the growth of the manufacturing output slowed in South Africa. The manufacturing growth fell to 6.7 percent in June, compared to 7.9 percent in May. The strikes continue to threaten the nation’s economic stability as about 31,000 workers from the automotive industry went to the strike to demand the higher wages. USD/ZAR rose from 7.200 to 7.254 today as of 8:24 GMT after … “Rand Weakens on Slower Manufacturing Growth”
Beware The Hidden Danger Of Early Success… Or Else!
Guest post from visionsofaffluence.com So you have been trading for a while now and you finally feel like you have gotten the hang of things. I mean you still take losses but now you know that they are an inevitable part of trading, and since you follow proper money management principles your wins always out weigh … “Beware The Hidden Danger Of Early Success… Or Else!”
Aussie Weakens on Reduced Demand for Riskier Assets
The Australian dollar fell today as the signs of the slower economic growth, particularly in the US and China, damped the demand for the riskier currencies. The Federal Open Market Committee said in the statement after its meeting that “the pace of economic recovery is likely to be more modest in the near term than had been anticipated”, significantly reducing hopes for the strong economic recovery in the US and in the whole world. China’ government was trying to cool the nation’s overheated … “Aussie Weakens on Reduced Demand for Riskier Assets”