After trading near $0.90 in the end of the last week as the U.S. dollar rose against its Australian counterpart, the Aussie, pushed by renewed risk appetite, managed to climb significantly not only versus the greenback but also lower-yielding currencies. The attractiveness for high-yielding currencies in the Pacific region rose today after Abu Dhabi central bank affirmed that it will provide a sum of $10 billion to its brother emirate Dubai to pays … “Aussie Dollar Up On Renewed Dubai Optimism”
Author: admin_mm
Euro Rebounds on Abu Dhabi-Dubai Bail Out Plan
After falling consistently versus the greenback in the end of the last week, the Euro posted a timid rebound and also gained versus several higher-yielding currencies, as concerns regarding Dubai’s debt eased after Abu Dhabi announced a rescue plan for its brother emirate. The euro benefited today on an Abu Dhabi announcement stating that $10 billion will be used to help Dubai to cope with its debts, paying creditors and contractors, calming … “Euro Rebounds on Abu Dhabi-Dubai Bail Out Plan”
Finding Predictable Currency Pairs
Newcomers to forex trading usually start off with the popular pairs: EUR/USD or GBP/USD. While these pairs are OK, these might not always be the best pairs to start trading with. I’m fond of the Australian dollar – AUD/USD, and I find it the most predictable pair. I chose this pair based on my experience … “Finding Predictable Currency Pairs”
Pound to Trade Below $1.60 on Weak Resilience, Fed Rate Hikes
The U.K. economy is being one of the slowest to recover from the global slump that started in the second semester last year, and as economies recover globally faster than in the British Isles, the pound may decline further versus the euro and the dollar. After posting the fourth consecutive weekly decline versus the greenback, the outlook for the British currency remains rather unattractive, as forecasts suggest a higher than previously expected budget deficit for the following years in the U.K., … “Pound to Trade Below $1.60 on Weak Resilience, Fed Rate Hikes”
Dollar Bullish Trends Gain Momentum
The dollar ended this week with the highest rate versus the European common currency after positive reports in the U.S. suggested that the North American economy’s pace of recovery is accelerating, attracting investors to dollar priced assets. After a report indicating better than expected figures for retail sales and an increase in consumer sentiment were published in the United States, the dollar gained versus most of the 16 main traded currencies reverting a losing … “Dollar Bullish Trends Gain Momentum”
Yen Falls for 2nd Day on Deteriorating Conditions in Japan
The Japanese yen continued its decline against the dollar and the euro for the second day today as the unpleasant economic conditions in Japan make their currency less attractive to the buyers. The technical reasons are also pressing on the yen as the Japanese currency was growing strong during last weeks. While the other major economies show improved macroeconomic conditions (like U.S. and Australia), the indicators coming out of Japan aren’t very optimistic and suggest a further … “Yen Falls for 2nd Day on Deteriorating Conditions in Japan”
US employment can envy Australia’s – it’s felt in forex
Australia’s job market gained jobs for a third straight month, beating expectations once again. These results pushed AUD/USD higher, after being blown by the American Non-Farm Payrolls on Friday. The Australian and American fundamentals continue to remain very different. Image credit: Martin Kingsley on Flickr Australian employment change came out far better than expected: a … “US employment can envy Australia’s – it’s felt in forex”
Euro Suffers as Dubai Situation Worsens
The single European currency approached the yesterday’s minimums against the U.S. dollar and the other major currencies today as the bad news on the Dubai’s troubled debt worsened the global financial outlooks. The demand for the high-yielding assets, including the riskier currencies (such as the euro), decreased after the Financial Times reported that the creditors of one of the Dubai World’s branches are adding pressure on the debtor. The report of the decreased industrial production in France in October has also spurred euro’s … “Euro Suffers as Dubai Situation Worsens”
Not the Pound’s Darling (2)
Alistair Darling’s pounded the Pound once again. The “supertax” on bank bonuses distracted the markets for a short time, until the pre-budget was fully digested. The gloomy picture drawn in the report sent the Pound down across the board, a day before the rate decision. The Distraction Alistair Darling, the Chancellor of the Exchequer in … “Not the Pound’s Darling (2)”
Yen Advances Despite GDP Growth Slowdown
The Japanese yen continued to grow against the other major currencies for a third day today even after the worse than expected GDP data was released in Japan, as the risk-aversion still remains popular in the markets. The euro weakened to the late November levels against the yen as the global stock markets demonstrated a drop. The markets are still under a strong influence of the Dubai’s debt problems and the new fiscal problems in Greece. Despite the optimistic statistics coming … “Yen Advances Despite GDP Growth Slowdown”