The Australian dollar went up against all other major currencies today after the countrys central bank decided to leave the policy interest rate unchanged, unexpectedly stopping its most aggressive rate-cutting streak. The Reserve Bank of Australia left the rate unchanged at 3.25 percent today for the first time in seven month, stating that the record low interest rates and the governments spending are … “Aussie Rises as RBA Leaves Rate Unchanged”
Author: admin_mm
EUR Fell as Eastern Europe May Not Get Help
The single European currency declined with a rather strong gap against the U.S. dollar and the Japanese yen today as the leaders of the developed Eurozone countries said that the Eastern European banks will not receive any financial aid. The bank-devastating crisis is pressing hard on the European countries that havent adopted the euro yet, pushing down their currencies. The banks … “EUR Fell as Eastern Europe May Not Get Help”
EUR/USD and USD/JPY Breakouts this Week?
Both the EUR/USD and the USD/JPY went in favor of the dollar last week, but didn’t make the big breakouts. This first week of March, with heaps of economic figures, could make them break out. From noon on Thursday, expect 24 hours of wild price action. EUR/USD The most popular pair, EUR/USD, went down last … “EUR/USD and USD/JPY Breakouts this Week?”
Inflation Becoming Irrelevant in Forex
Inflation data, that is published all the time is becoming less and less important in these days of a global economic crisis. It doesn’t ignite price action as it used to up to the last summer. Up to the summer of 2008, Consumer Price Index (CPI) and Producer Price Index (PPI), played a big role … “Inflation Becoming Irrelevant in Forex”
What to Expect in Forex from GDP
America Prelim GDP is going to be published at 13:30 GMT. Expectations are low. This week’s course sees American data disappointing and the dollar rising afterwards – risk aversion at its best. Will the Euro make the dive? Forex Traders are expecting a severe downgrade of data from the Advance GDP that was published a … “What to Expect in Forex from GDP”
Euro Got Direction – Down
EUR/USD was looking for a direction at the beginning of the week. With the release of the disappointing German Ifo Business Climate, it got a direction for the rest of the week – down. The German Ifo Business Climate is a major figure in Europe’s biggest economy, and it was disappointing: it fell to 82.6, less … “Euro Got Direction – Down”
Bank Nationalization Fears To Hurt Euro
The European mini summit in Berlin supplied so headlines about bank nationalization and regulation. This could trigger the EUR/USD to open the forex trading week lower – with a weekend gap. Bank Nationalization was highly debated in the European mini-summit in Berlin. Although both EU leaders and ECB’s Trichet talked against nationalization, this issue is … “Bank Nationalization Fears To Hurt Euro”
EUR/GBP – Where is it going?
I’m revisiting the popular EUR/GBP cross. In the last post about this currency pair, I wrote about it breaking the support line of 0.88, on February 5th. After breaking that line, it stayed below Since then, it continued its decline, and reached a low point of 0.8640, on February 10th. But after hitting that low … “EUR/GBP – Where is it going?”
Dollar on Break From Recent Behavior
The US dollar took a break from gaining against other currencies. Also the risk factor took a break: US dollar fell when bad American data was published. Also the USD/JPY – Stock market correlation took a break. Let’s see what happened yesterday (Feb 19). The US dollar took a break from the upward trend after … “Dollar on Break From Recent Behavior”
Rupee to Post Worst Weekly Drop This Year
The Indian rupee declined against the U.S. dollar today and is currently ready to show the biggest weekly drop since the beginning of the year as the slump of the U.S. stock markets was followed by the decline in the Asian markets. The Bombay Stock Exchange benchmark index (SENSEX) is currently falling by more than 2.5 percent. Such a strong decline in the stocks prompt foreign investment … “Rupee to Post Worst Weekly Drop This Year”