The stimulus package delivered by Obama spills a lot of money into the US economy. Printing of money devalues the currency, but I do believe that this pro active and extreme measures will get America out of the crisis quite fast. I’ve written in the past that the stimulus package will weaken the dollar, due … “Obama’s Stimulus Bad For Dollar, Good For Economy”
Author: admin_mm
EUR/GBP Broke Downtrend Resistance
EUR/GBP made a strong move upwards, and broke resistance on the daily chart. Terrible Manufacturing Production in Britain pushed the Pound lower, while other currencies gained against the greenback. Parity now? Yesterday’s bad banking news from Britain pounded the pound. This was especially seen in the GBP/USD currency pair, as the Pound fell below 1.40, … “EUR/GBP Broke Downtrend Resistance”
Korean Won Rises as Asian Stocks Gain
The South Korean won rose for the third day against the U.S. dollar today as some Asian stock markets showed the growth and the high-yielding currencies were favored by the traders. The majority of the most-traded Asian currencies (except the Japanese yen) showed gains today that can be simply regarded as the correctional movement after one of the worst beginnings of the … “Korean Won Rises as Asian Stocks Gain”
Pound Falls on HSBC’s Bad Loans
The British pound fell against all major currencies today on the concerns that the United Kingdoms largest bank will have a disastrous time handling the bad loans of its United States unit. The U. K. currency declined against the dollar and the euro as both the U.K. FTSE 100 benchmark index and the Japanese Nikkei 225 dropped during the late Asian and early … “Pound Falls on HSBC’s Bad Loans”
Forex Getting the Deserved Attention
In the Forex market, there’s always a currency that goes up. That’s why I like this market so much. In these times of crisis, it’s the best market for investing your money. New data shows that more and more money enters the forex market in an amazing speed. This shows that everybody is giving forex … “Forex Getting the Deserved Attention”
Bad British Banking News Risks the Pound
Lloyds TSB, the biggest mortgage bank in Britain, was nationalized this weekend by the British government. This is bad news for the British Pound. HBOS “inherited” the bad assets to Lloyds, and now it pays the price. The British government now guarantees the banks money, but the bank, which was once successful, is now in … “Bad British Banking News Risks the Pound”
NFP Effect Roundup
Non Farm Payrolls were in line with the official expectations – a fall of 651K jobs, but the affects on the forex market were fascinating, and can teach us some things for the next release. Let’s walk through the market alleys and find some precious currency correlations: Official expectations were a drop of 647,000 jobs … “NFP Effect Roundup”
USD Falls as Financial Turmoil in U.S. Worsens
The U.S. dollar declined today against the other major currencies, after showing a good performance yesterday, as the investors expect that the labor market reports, that are to be released today, will signal a further worsening of the recession in the United States. The Japanese yen is the only major currency that is rising against the greenback for the second day today. It started to react … “USD Falls as Financial Turmoil in U.S. Worsens”
Indian Rupee Approaches Recent Record-Low
The Indian rupee declined against the U.S. dollar today, almost reaching a new record-low level, as the domestic companies converted to dollars in order to pay for the imported goods. Although, the risk-aversion level is quite moderate in the global markets today, the rupee falls as the Indian economy faces much greater risks among the other emerging countries. The drop in the dollar-denominated exports … “Indian Rupee Approaches Recent Record-Low”
Dollar Up on Deeper Financial Turmoil
The U.S. dollar rose against the the Japanese yen and the Australian dollar today as the investors sought the safety for their funds after the yesterdays optimism vanished on the bad report for the Australian fourth quarter GDP change. The dollar went up against the yen for the second day today and also gained for the fourth day against … “Dollar Up on Deeper Financial Turmoil”