The Japanese yen gained today as the demand for the Japanese currency as the safe haven increased, boosted by the speculation that the U.S. President will implement the new financial industry regulations. According to Barak Obama‘s spokesman the President will aim at ârisky decisionsâ taken on Wall Street. The White House press secretary Robert Gibbs said: “Financial reform is something that is born out of an economic collapse that started on Wall Street and spread … “Yen Advances Against Euro on Higher Risk Aversion Sentiment”
Author: admin_mm
Canadian Dollar Falls vs. Greenback, but Remains Near Parity
The Canadian dollar retreated against its U.S. counterpart after reaching its highest level since June 2008 today, but remains near the parity level, supported by the speculation that the Bank of Canada will increase the interest rates faster than the Federal Reserve. The analysts predict that the Bank of Canada will increase the benchmark overnight rate to 1.25 percent by the end of the year, while the U.S. Federal Reserve will increase its … “Canadian Dollar Falls vs. Greenback, but Remains Near Parity”
Concern for Budget Deficit Undermines Euro’s Strength
The euro continues its decline on concern that the rescue package, provided to Greece by the European Union government and which is valued as much as 45 billion euro, won’t be enough to deal with the nation’s debt. The Greeceâs budget shortfall is 12.9 percent of gross domestic product, which is four times the EU limit. The cost of insuring against the default on Greece’s debt increased today. At present time it looks like … “Concern for Budget Deficit Undermines Euro’s Strength”
Excellent Employment Figures – Not Necessarily Pound Friendly
For a second month in a row, British employment figures were superb – Claimant Count Charge showed that 32,900 got back to work, and also last month’s figure was upgraded. While this is normally good news for the currency, the delicate timing could turn it into a burden. Here’s why. Also yesterday’s inflation figures came … “Excellent Employment Figures – Not Necessarily Pound Friendly”
Decreasing Jobless Claims May Boost Pound
The Great Britain pound advanced today against the other major currencies and may continue its rise further as the report showed that the number of the jobless benefits claimed is dwindling. The number of the unemployment claims decreased in March by 10,000 from the previous month, when it fell by 32,300. The pound was bolstered by the government report that the inflation grows with greater than predicted pace. The higher than expected earnings of the Apple Inc. … “Decreasing Jobless Claims May Boost Pound”
Demand for Dollar as Safe Currency Declines
The U.S. dollar dropped today after the demand for the currency as the safe haven was diminished today by the rising equities, boosted by the higher than expected company earnings. The Apple Inc. reported that its quarterly profit almost doubled, causing its shares to jump as much as 8.3 percent. The increasing confidence prompts the investors to seek the higher-yielding currencies, forgoing the safe ones. This trend also affected the Japanese yen. GBP/USD traded at about … “Demand for Dollar as Safe Currency Declines”
Australian Dollar Boosted by Concern About Inflation
The Australian dollar gained today after the Reserve Bank of Australia announced its plans to raise the interest rates, partially because of concern that the inflation will be spurred by the mining boom. âThe fact that the prospective rise in the terms of trade was now likely to be noticeably stronger than had been expected was a factor suggesting that it might be prudent not to delayâ, said the RBA’s officials in the minutes of their … “Australian Dollar Boosted by Concern About Inflation”
Loonie Rises to Parity on Outlook for Increased Interest Rates
The Canadian dollar suddenly jumped today, reaching the parity with its U.S. counterpart, as the signs of the expanding nation’s economic growth and the widening inflation may encourage the central bank’s policy makers to raise the interest rates. The Bank of Canada was keeping the interest rates at the same level since April 2009 and has pledged to keep the target rate for overnight loans between banks at 0.25 percent unchanged through June. The dropping of this pledge … “Loonie Rises to Parity on Outlook for Increased Interest Rates”
Currensee Gets Funding from Financial Services Firm
I’ve already reported about Currensee’s Round B funding. It now announces the last piece of this funding – Vernon & Park Capital, a financial services firm, has added its own $825,000 to this round. This new investor is closer to the forex markets than previous investos. Jim Ginsburg, is a managing partner at Vernon & … “Currensee Gets Funding from Financial Services Firm”
Yen Declines with Growing Appeal of Higher-Yielding Assets
The Japanese yen’s strength was cut as the demand for the safer currencies dwindled with the decreasing instability in the markets on the speculation that the global economic recovery will widen with a greater pace. The possibility that the Goldman Sachs will be charged for fraud diminished, reducing the concern for the volatility in the markets, and the report about the growing confidence of the German investors signaled that the outlook for the global recovery has improved. The resulting improvement of the risk appetite prompted the investors … “Yen Declines with Growing Appeal of Higher-Yielding Assets”