The Great Britain pound weakened today after the stocks dropped on the concern that the economic growth of China may slow, damping the demand for the currencies, considered being riskier. The pound rose previously on the outlook that the emergency budget and spending cuts would reduce budget deficit without hurting the economic growth. Yet the concern, brought by the disturbing prospect for China’s economy, harmed many riskier currencies, regardless of the supportive domestic factors. MSCIWorld Index … “Pound Falls as Concern for China’s Growth Spurs Risk Aversion”
Author: admin_mm
Concerns for Global Economic Growth Rise, Hurting Loonie
The Canadian dollar today sank against its U.S. counterpart and weakened versus the euro on the concerns about the state of Europe’s economy and its banking system, causing the investors shun the higher-yielding stocks and commodities. The demand for the three-month loans, offered tomorrow by the European Central Bank, will show the state of the European banks, which are required need to repay as much as 442 billion euro on July 1st. The news from other parts of the world also … “Concerns for Global Economic Growth Rise, Hurting Loonie”
Yen Strengthens amid Concerns for Economic Recovery
The Japanese yen rose today against the U.S. dollar and the euro as the speculation that the global recovery is faltering increased the demand for the safety, boosting the Japanese currency. The pessimism about the European economy remains and now the confidence in the U.S. economy expected to worsen too. The yen tend to rise amid the economic instability as it’s less reliant on the foreign funds because of its trade surplus. USD/JPY traded at 88.75 as of 10:40 GMT after opening at 89.37 … “Yen Strengthens amid Concerns for Economic Recovery”
Franc Appreciated as Deflationary Concerns Waned
The Swiss franc advanced against the euro today to the record high level after the Swiss National Bank said that it’s not likely to intervene to prevent the franc’s appreciation. Jean-Pierre Danthine, the Member of the Governing Board of the SNB, said that the concern about the deflation “practically disappeared”. He also added that if it would be necessary to increase the interest rates, the central bank “would be able to react very quickly”. … “Franc Appreciated as Deflationary Concerns Waned”
TV Broadcasts on Winners Edge Trading
I’m happy to report that Casey Stubbs starts a daily show for traders. The show will be aired every day at 7:30 EST (11:30 GMT) and will provide practical trading advice based on the experiences of long-term forex traders. The presentations will be led by Michael Storm from Winners Edge Trading although there will be … “TV Broadcasts on Winners Edge Trading”
Great Britain Pound Gains on Improving Confidence
The Great Britain pound strengthened today after the leaders of the Group of Twenty set the budget-deficit targets, stating that they would focus on the supporting the economic growth and would try to avoid levies on the banks. The U.S. President Barack Obama said that the G-20’s target to halve the budget deficits by 2013 is in line with the U.S. plans and reflects the economic needs of every nation. The U.K. Prime Minister David Cameron said that the Britain’s … “Great Britain Pound Gains on Improving Confidence”
South African Rand Strengthens After G-20 Meeting
The South African rand gained today as the attractiveness of the higher-yielding currencies increased after the Group of Twenty leaders discussed plans to curb the budget deficits. The G-20 pledged at least to halve deficits by 2013, to maintain existing stimulus measures and perform “concerted actions” to support the recovery of the global economy. The traders continue to bet on the decrease of the 6.5 percent benchmark interest rate by the central bank on July 22. USD/ZAR traded at 7.574 as of 11:08 GMT down from … “South African Rand Strengthens After G-20 Meeting”
Yen Weakens as Demand for Safety Wanes
The Japanese yen weakened today as the demand for the safety waned after the Group of Twenty leaders agreed on the measures to battle the budget deficits, boosting the equities. The G-20 leaders pledged to halve the deficits by 2013 and stabilize debt-to-output ratios by 2016. Angela Merkel, the Chancellor of Germany, commented on the fiscal targets: “Honestly, this is more than I expected, because it is quite specific. Itâs a success that industrialized countries as a group accepted this.” USD/JPY … “Yen Weakens as Demand for Safety Wanes”
Jobs Hangover? Non-Farm Payrolls Preview
The upcoming release of the Non-Farm Payrolls will be a correction from the previous release due to government’s cut in jobs. Here’s a preview for the NFP on July 2nd, and the things to watch out for. The decennial census that was held in May had an impact on Non-Farm Payrolls from the beginning of the year. … “Jobs Hangover? Non-Farm Payrolls Preview”
Weekly Losses of U.S. Currency
The strength of the U.S. dollar was severely tested this week by the bad macroeconomic indicator, and the U.S. currency passed this test not very well, rising questions about its credibility as the safe currency. The dollar’s performance against the euro, the Great Britain pound and the Japanese yen followed the same trend. At the beginning of the week the greenback rose on the optimism, brought by the China’s promises to lift the two-year yuan’s peg to the dollar. But then the terrible news … “Weekly Losses of U.S. Currency”