The 16-nation European currency showed the strong performance this summer, just as most traders lost any confidence in the currency. The questions, which of course sits in many minds, is: can the euro sustain its rally? Everything can happen, as the euro showed by its rally, but few economists believe that the currency will continue its rally for the long time. The main reason for the concerns is the austerity measures, taken by the European governments … “Can Euro Sustain Its Rally? Unlikely”
Author: admin_mm
Pound Rises as UK Economy Grows
The Great Britain pound strengthened today against the US currency to the highest level in almost six months as the economic data showed that Britain’s economy expanded faster than the analysts anticipated. The gross domestic product increased 1.1 percent in the second quarter of 2010, compared with the increase of 0.3 percent in the previous quarter. The experts predicted the 0.6 percent growth. The manufacturing PMI posted 57.3 in July, down from 57.6 in June. Even … “Pound Rises as UK Economy Grows”
Swiss Franc Fall Despite Record Industrial Activity
The Swiss franc fell today against the US dollar and the euro, as the rally of the equities damped the demand for the currency as the safe haven, despite of the favorable fundamentals. The Stoxx Europe 600 Index climbed as much as 1.9 percent. The rally of the stocks outweighed the data, showing that the industrial activity reached the all-time record. The SVME PMI rose from 65.7 in June to 66.9, the all-time highest level, the last month. USD/CHF rose from 1.0402 to 1.0441 today … “Swiss Franc Fall Despite Record Industrial Activity”
Jobs Hangover Continues? Non-Farm Payrolls Preview
It’s the first week in the month, and Friday brings the king of forex – Non-Farm Payrolls. We’re expecting to see another significant drop in jobs – still the after-effect of the government census, but also a reflection of the slowdown. Here’s a preview for this major release, including things to watch out for, and … “Jobs Hangover Continues? Non-Farm Payrolls Preview”
Very Bad Week for US Currency
The US dollar performance was abysmal this week as concern about the slowdown of the US economic growth persists and even the good news weren’t able to weaken the fears. The dollar fell versus all other major currencies this month. The manufacturing sector showed the signs of the weakness and the GDP slumped in the second quarter of 2010. It’s not surprising that the reports show that the consumer sentiment steadily declines. The Americans are also worried … “Very Bad Week for US Currency”
Franc Rises Against Euro on Signs of Improving Economy
The Swiss franc rose reached today the highest level this week against the euro after the leading economic indicators remained at the highest level in almost four years. The KOF Economic Barometer remained at 2.23 in July, the highest level since September 2006. The currency was also bolstered by the speculation that the Swiss National Bank began selling its dollar reserves. Daragh Maher, deputy head of global currency strategy at Credit Agricole … “Franc Rises Against Euro on Signs of Improving Economy”
Dollar Weakens vs. Yen & Pound on GDP & Confidence Reports
The US dollar fell against the Japanese yen today to the lowest level since November 2009 after the economic report suggested that the US economic growth slows, decreasing the appeal of the US currency. The growth of the gross domestic product slowed in the second quarter of this year to the annual rate of 2.4 percent from the growth of 3.7 percent in the first quarter. The University of Michigan index of the U.S. consumer sentiment dropped sharply from 76.0 in June … “Dollar Weakens vs. Yen & Pound on GDP & Confidence Reports”
Indian Rupee Boosted by Increase of Interest Rates
The Indian rupee rose today after the central bank increased the interest rates for the fourth time this year, raising the yield on local assets. The Reserve Bank of India raised the overnight borrowing rate by 50 basis points on July 27. The yield on the Indian securities maturing in 10 years rose to 7.8 percent. The currency also strengthened as the government plans to sell its shares of Engineers India Ltd. USD/INR fell to 46.5350 from 46.5370 … “Indian Rupee Boosted by Increase of Interest Rates”
Brazil’s Real Rises on Better Consumer Sentiment
The Brazilian real advanced today against the euro on the speculation that demand for the South American exports would grow as the European economic outlook brightened. The currency declined versus the greenback. The index of consumer sentiment in the countries of the Eurozone rose from 99 to 101.3 in June. The resulting appetite for the risk on the markets helped the riskier currencies, including the real, to gain. USD/BRL rose to as 1.7600 of 8:50 GMT after opening at 1.7580. EUR/BRL traded at 2.2921 after it … “Brazil’s Real Rises on Better Consumer Sentiment”
You Wouldn’t Go To War Without A Plan… So Why
Guest post from visionsofaffluence.com When most of us start out in the trading business we view it as the path to quick riches. We think that all we have to do is find a indicator, slap it on a chart and then voila we will be transformed into expert traders. This couldn’t be further than the … “You Wouldn’t Go To War Without A Plan… So Why”