The Australian dollar gained today after the Reserve Bank of Australia kept the interest rates unchanged and the report showed that the nation’s trade surplus grew. The RBA kept the overnight cash rate target at 4.5 percent and hinted that its benchmark rate may be kept unchanged in the near term. Glenn Stevens, Governor of the RBA, said: With the high level of the terms of trade expected to add to incomes and demand, output growth in Australia … “Aussie Rises on Optimistic Economic Outlook”
Author: admin_mm
Euro Drops on Outlook for Interest Rates to Stay at Low Level
The euro halted its three-day rally today on the prospect that the European Central Bank would keep the interest rates at the current low level in the effort to reduce the negative impact of the budget deficits on the region’s economy. Jean-Claude Trichet, the President of the European Central Bank, stressed yesterday the importance for the European governments to reduce the budget deficits in order to improve the confidence of the investors and the consumers. The economists say that the European economy is currently too weak to justify … “Euro Drops on Outlook for Interest Rates to Stay at Low Level”
Zloty Rises as Komorowski Wins
The Polish zloty strengthened today after Bronislaw Komorowski won in the presidential election, spurring the hopes that his victory would help to reduce the nation’s budget and to adopt the euro in 2015. According to the final tally by the State Election Commission, Komorowski has won 53 percent of the votes. His victory may help to end divisions that appeared under the previous President, as Komorowski’s victory gives his Civic Platform party control both … “Zloty Rises as Komorowski Wins”
Significant Decline of Australian Dollar This Week
The Australian dollar experienced the significant losses this week on the concerns for the new mining tax, which, while eased somewhat, didn’t go away completely. The Aussie was falling against the U.S. dollar for the whole week, except for the Thursday, and ended noticeably lower than the opening level. Against the euro, the Australian currency has rose on Monday, but for the rest of the week it was steadily falling. The Australian dollar was also falling versus … “Significant Decline of Australian Dollar This Week”
Canadian Dollar Drops on Outlook for Rates & Growth
The Canadian dollar declined today amid the concerns for the economic recovery, which prompted the traders to cut the bets on the increase of the interest rates by the central bank. The concerns were strengthened by the U.S. nonfarm payrolls, which dropped to 125,000 in June, compared to the expected decline by 106,000. The Canadian economy hasn’t showed the very good results either, as its growth had stalled in April. August delivery for crude oil, the main nation’s export, dropped by $1.18 cents … “Canadian Dollar Drops on Outlook for Rates & Growth”
Dollar Drops on Lower Than Expected Nonfarm Payrolls
The U.S. dollar dropped today against the euro as the macroeconomic indicators added to the evidences that the U.S. economic recovery is slowing, decreasing the appeal of the greenback as the safe currency. Nonfarm payrolls were worse than expected, posting the 125,000 decline in June, compared to the forecast drop by 106,000. New orders for manufactured goods decreased 1.4 percent in May, following eight consecutive monthly increases, while the median forecast was a decline by only 0.5 … “Dollar Drops on Lower Than Expected Nonfarm Payrolls”
Risk Sentiment Improves, Driving Yen Down
The Japanese yen fell today against other most-traded currencies after the Australian government agreed to review the mining taxes, improving the global risk sentiment. The previous Australian Prime Minister Kevin Rudd had proposed a 40 percent tax on all resources. The current Prime Minister Julia Gillard proposed that the mineral resources rent tax would be set at 30 percent, applying to iron ore and coal, while the rent tax … “Risk Sentiment Improves, Driving Yen Down”
Mexican Peso Weakens on Bad News From U.S.
The Mexican peso weakened today, falling against the dollar for the whole week, after the reports showed that the index of the pending home sales in the U.S. fell and the jobless claims unexpectedly increased. The U.S. is Mexico’s biggest trading partner. Therefore, the troubling news about the U.S. house market and the employment had its negative impact on Mexico’s currency. USD/MXN traded near 13.017 as of 8:39 GMT today after it opened at 13.004. If you … “Mexican Peso Weakens on Bad News From U.S.”
Proper Money Management Will Make Forex More Mainstream
In the third article about making forex more mainstream, we’ll examine the role of money management – a buzzword often heard but rarely practiced. Previous article: Forex Education – The First Step to Make Forex More Mainstream. Previous article 2: Forex in Banks – Essential for Bringing Forex to the Masses With stock portfolios, people are … “Proper Money Management Will Make Forex More Mainstream”
Franc Falls, Causing Talks About SNB Intervention
The Swiss franc dropped today against the euro, leading to the speculation that the Swiss National Bank renewed its selling of the franc to prevent the strong currency from harming the economy; the U.S. dollar demonstrated the worse performance, therefore against the greenback the Swiss currency rose. Previously the franc grew as the report indicated that the Swiss manufacturing expanded for the 10th month. The SNB said on June 17th that the pressure of the deflation has mostly gone, hinting … “Franc Falls, Causing Talks About SNB Intervention”