The South African rand fell today as the growing concerns about the global economy, caused by the signs of the US economic expansion’s slowdown, damped the demand for the currencies of the emerging markets. The analysts predict that today’s report would show that the service industries in the US expanded with the slower pace than earlier. This forecast, together with yesterday’s unfavorable reports about the home sales, the factory orders and the personal spending, worsen already dark … “Rand Fall as Investors Shun Riskier Currencies”
Author: admin_mm
NZ Dollar Weakens on Asian Stocks & Rates Outlook
The New Zealand dollar weakened today against the US dollar and the Japanese yen after the Asian stocks fell and on the speculation that the central bank would increase the interest rates with slower pace. The MSCI Asia Pacific Index of shares dropped 0.7 percent after the bad macroeconomic reports from the US caused concerns about the global economic growth. The New Zealand currency also slipped on the forecasts that tomorrow’s report would … “NZ Dollar Weakens on Asian Stocks & Rates Outlook”
Yen Rises on Growing Concerns for US Economy
The Japanese yen went up to the highest level since November 2009 against the US dollar and advanced versus all other most traded currencies after the economic reports suggested that the US economy would require additional stimulus measures, spurring the risk aversion sentiment. The pending home sales in the US unexpectedly dropped 2.6 percent in June, while the economist expected growth by 0.5 percent. The factory orders declined by 1.2 percent, … “Yen Rises on Growing Concerns for US Economy”
Canadian Dollar Falls as Economic Outlook Worsens
The Canadian dollar weakened today as the bad economic data from the US, Canada’s biggest trading partner, caused the pessimism about Canada’ economic growth. The job reports from US and Canada should have great impact on the markets, and the traders aren’t very hopeful about these reports. Canada’s employers added 12,500 jobs in July, according to the analysts’ estimates, while in the US the non-farm payrolls expected to fall by 60,000 the last month. Today … “Canadian Dollar Falls as Economic Outlook Worsens”
Fundamental Overview – Market Movers Last Week –
The U.S. Dollar began showing definite signs of weakening last week — despite some positive economic numbers from the U.S. housing sector — as it fell against all the major currencies except for the New Zealand Dollar, which declined by 0.2%. Dollar Drops Against All Majors Except the Kiwi The biggest drop in the Greenback … “Fundamental Overview – Market Movers Last Week –”
Forex on the Rise
Forex trading continues to grow. Two separate reports show that the volume of forex trading is on the rise. This goes hand in hand with the evolution of the industry. According to the Bank of International Settlements, the daily volume of forex trading reached 4.1 trillion US dollars a day. This report is published only … “Forex on the Rise”
Kiwi Strengthens on Positive Data from Asia
The New Zealand dollar strengthened today as the signs of improving global economy and the accelerating economic growth in Asia, particularly in China, causes the speculation that the demand for the currency will rise. The MSCI Asia Pacific Index of shares climbed 0.6 percent. China demonstrated the stable economic growth, bolstering the kiwi as China is New Zealand’s second biggest export market. The positive economic data encourages the analysts to say that the kiwi would jump … “Kiwi Strengthens on Positive Data from Asia”
South Korean Won Climbs on Record Reserves
The South Korean won strengthened today, reaching the highest level in more than two months after the nation’s foreign-exchange reserves climbed to the record level. The nationâs reserves jumped to $285.96 billion in July from $274.22 billion in the month earlier. The reserves were boosted by the gains of the euro and the pound. The government announced that it’s going to take measures to stabilize the currency. USD/KRW dropped to 1,171.50 from 1,172.40 today as of 8:48 GMT. If you have … “South Korean Won Climbs on Record Reserves”
Aussie Strengthens on Economic Growth
The Australian dollar reached today the highest level in almost three months versus its US counterpart and advanced against the Japanese yen as the signs of the robust economic growth supported the outlook for the unchanged interest rates and spurred the demand for the higher-yielding assets. The currency fell versus the euro. The Australian retail sales in June, which will be reported tomorrow, estimated to rise by 0.4 percent after previous increase of 0.2 percent. The Chinese economy may … “Aussie Strengthens on Economic Growth”
Will Bernanke Devaluate the Dollar Again?
As the US economy shows signs of slowdown, the Federal Reserve might intervene to boost the economy by buying assets – spilling dollars. This prediction, by the Japanese Nomura bank goes hand in hand with a very sharp drop in the dollar across the board. Is the dollar going for an accelerated collapse like in March 2009? … “Will Bernanke Devaluate the Dollar Again?”