After 3 days of gains, the Japanese currency weakened against the dollar and the euro before an eventual trade deficit that may be reported by the government for the last month period. The Japanese currency had consistently risen against the euro during the past five weeks, and as the traders realized it could be overbought, it was the perfect timing for making profits, since the Japanese government will release a report that is very likely to contain negative trade numbers for the past month … “Yen Falls On Trade Report Speculations”
Author: admin_mm
Euro Continues to Fall on ECB Policy Disagreement
The euro weakened against the yen and slid to a one-month low against the U.S. dollar as the ECB policy makers are failing to reach a consensus to fight the growing recession in the bloc. For the first time in a month, the euro crossed the 1.30$ resistance line and this slide could also be … “Euro Continues to Fall on ECB Policy Disagreement”
Pounds Weakens on Pessimism Regarding British Economy
The Confederation of British Industry is expecting the economy to contract even further than previous forecasts, such pessimism brought the pound to a one-week low against the greenback. Several reasons also brought the pound sterling down this Monday against the euro, yen, and the Swiss franc. A drop on bank shares combined with the CBIs catastrophic expectation that the British GDP will decrease … “Pounds Weakens on Pessimism Regarding British Economy”
Pound Breaking Down – Not Waiting for Data
In the wake of the new and and critical trading week, the Pound is tumbling down, seeing levels that haven’t been visited for three weeks. Do this imply the direction when the major indicators are published later this week? The British Pound began the forex trading week with a pound – GBP/USD now trades at … “Pound Breaking Down – Not Waiting for Data”
IMF World Economic Outlook and the Dollar
This Wednesday, the IMF will release the World Economic Outlook. After the previous gloomy outlook, this week’s forecast will significantly impact the mood of traders and the direction of the US dollar. World Recession On April 22nd, the International Monetary Fund (IMF) will release it’s World Economic Outlook. Last time, the IMF said that whole … “IMF World Economic Outlook and the Dollar”
Unexpected Drop in Inflation Rate Pushes Canadian Dollar Down
The Canadian dollar had the second day of losses against the greenback after a report indicating that the inflation slowed during the last month. The one-year inflation rate was 1.2% the past month, falling from the Februarys annualized rate of 1.4%, this fact can be considered unexpected, since forecasts were indicating stability regarding the inflation. The current recession and credit … “Unexpected Drop in Inflation Rate Pushes Canadian Dollar Down”
Another Bad Friday for the Euro
Jean-Claude Trichet continues to send hesitant signals. This is bad for the Euro. The Euro could dive to the mid 1.20s next week, as the situation in Europe is dire. Very dire. Last week, most markets were closed due to the Easter celebrations – Good Friday. The Euro didn’t enjoy Good Friday, and it went … “Another Bad Friday for the Euro”
Euro Falls as ECB President Fails to Improve Economic Confidence
The euro fell this Friday against major currencies and hit a one-month low against the dollar after ECB President Jean Paul Trichet failed attempt to unite the banks policy makers towards a common direction. On the speculation that a report may show an increased consumer confidence for the second month in the United States, the dollar rose against the euro to a one-week high level, … “Euro Falls as ECB President Fails to Improve Economic Confidence”
New Zealand Dollar Falls on Growing Recession Concerns
The kiwi had its worst week in a two-month period against the yen as slumping growth in China indicates that the recession is far from its ending. Several factors made the N.Z. dollar to fall this week against major pairs, but the main event that brought the kiwi down was the Chinese economy, which is facing the slowest growth in 9 years. The New … “New Zealand Dollar Falls on Growing Recession Concerns”
Yen Rises as Recession Concerns Grow in Asia
An economic report showed that the Chinese economy had the slowest growth in almost a decade, this favored the yen against high-yielding currencies. Several factors pushed the yen up today against major currencies, it rose against the U.S. dollar on speculations that reports will show weakened numbers from the construction sector, combined with an increase for unemployment benefits claims. A report from the … “Yen Rises as Recession Concerns Grow in Asia”