The Bank of Canada didn’t move the rates, but removed the comment regarding no rate hike till the end of Q2. A rate hike in the next meeting looks very probable. USD/CAD is below parity once again. Update on this strong currency. While Mark Carney’s BOC left the main interest rate, the Overnight Rate, unchanged, … “Canadian Dollar Jumps – Road to Rate Hike Open”
Author: admin_mm
Won Rose on Easing Concern for Goldman Case
The South Korean won strengthened today on speculation that China will let the yuan appreciate, bolstering the economy in Asia and increasing the inflow of the global funds in the region; also the easing concern about the Goldman Sachs Group Inc. helped the currency by removing the uneasiness in the global markets. The speculation that the U.S. regulators were split over whether to charge the Goldman Sachs has lessened the worries that arose after the news about the possible suit … “Won Rose on Easing Concern for Goldman Case”
GBP/USD Closes Gap and Pushes Higher On Inflation
British CPI came out higher than expected, with consumer prices rising by an annual rate of 3.4%. This fueled GBP/USD – it closed the weekend gap and broke above a critical line. Will it continue riding north? British CPI rose from an annual rate of 3% to 3.4%, getting close to this year’s high of … “GBP/USD Closes Gap and Pushes Higher On Inflation”
Will European Figures Beat Greek Fears?
The German ZEW economic sentiment rose to 53 points, far better than expected. This helps EUR/USD stabilize after a few bad days. Other figures also shined on the Euro. Will the figures overcome the Greek fears? Update on the factors moving the Euro. After 6 months of drops, some of them which were a big … “Will European Figures Beat Greek Fears?”
Rand Falls with Selling of High-Risk Assets
The South African rand dropped as the widening investigations about the activities of the Goldman Sachs Group Inc. caused the investors to sell their high-risk assets amid the growing confusion and distrust in the markets. As more and more inquiries are made into the Goldman Sachs‘ activities the investors are becoming less inclined to risk and are beginning to sell the higher-risk assets. This trend has negative effect on the equities, the commodities and also the rand, which falls into … “Rand Falls with Selling of High-Risk Assets”
Goldman Sachs fad, Critical Week for Pound and Loonie
On the weekly interview with Julie Sinha on Forex TV, I reviewed this week’s events, focusing on the Canadian dollar and the British Pound and seeing Goldman Sachs as a temporary influence on the markets, but the Greek troubles still being very relevant. And there’s more. Enjoy! Want to see what other traders are doing … “Goldman Sachs fad, Critical Week for Pound and Loonie”
Zloty Fell, But Remains Too Strong
The Polish zloty declined after the central bank’s intervention to prevent further appreciation, yet the currency remains “too strong” in Deputy Finance Minister’s opinion. The quick appreciating harmed the Polish exporters by making their goods more expensive worldwide and decreasing the value of their sales in the local currency. To amend this situation the central bank performed its first intervention in 12 years last week. Yet Ludwik Kotecki, the Deputy Finance Minister … “Zloty Fell, But Remains Too Strong”
Loonie Goes Down as Oil & Stocks Fall
The Canadian dollar continues its decline as the charge for fraud against the Goldman Sachs Group Inc. made the investors to shun the higher yielding assets, causing the prices for some commodities and the stocks to decline. The prices for the crude oil, the nation’s key export, dropped after the Goldman Sachs was sued, worsening the investor’s sentiment for the riskier assets. The analysts think that this situation should be temporary as the traders’ panic will eventually go away, … “Loonie Goes Down as Oil & Stocks Fall”
Aussie’s Race to Parity Halted by Possible Yuan’s Revaluation
The Australian dollar’s rise to parity with its U.S. counterpart stalled on the speculation that the central bank may increase the interest rates with the slower pace as China is likely to plan the revaluation of the yuan. Some experts think that the Reserve Bank of Australia has raised the borrowing costs too soon and too high after increasing the overnight cash rate to 4.25 percent this month from 3 percent in October. The Australian … “Aussie’s Race to Parity Halted by Possible Yuan’s Revaluation”
Safe Currency Needed, Yen is Considered
The Japanese yen jumped unexpectedly against the U.S. dollar, the euro and most other majors by the end of this week as the drowning risk sentiment prompts the investors to look for the safer currency. The greenback has lost its appeal as the safe currency as the U.S. stocks dropped after the Goldman Sachs Group Inc. was sued for the fraud. The concern about Greece and its budget deficit remains while speculation that the country will be forced to activate … “Safe Currency Needed, Yen is Considered”