The Australian dollar showed the second day of growth against the U.S. dollar and the Japanese yen today as the traders feel a growing confidence in the Australian economy after the much-needed stimulus package has been adopted there. The strategists from Commonwealth Bank of Australia recommend buying the Aussie against the dollar, the euro and the yen, stating that it will … “AUD Gains for 2nd Day as Confidence Grows”
Author: admin_mm
Euro Recovers From Yesterday Losses
The euro posted a moderate daily gain against the other major currencies today after some regional banks reported not-so-bad results for the fourth quarter of 2008. Among the banks that surprised the market analysts were the German Commerzbank AG and the Dutch ING Groep NV. Both of them reported lesser losses for the last quarter than the average estimates … “Euro Recovers From Yesterday Losses”
Euro Weakens before ZEW Survey
The European single currency reached its lowest level against the dollar since the early December as the Forex traders expect that the ZEW Survey report will show that the Eurozones business confidence is at the very low levels today. There are also expectations that the credit rating of several big European banks may get downgraded soon on the concerns that their … “Euro Weakens before ZEW Survey”
AUD/USD Long – Pick of the week
AUD/USD provides an opportunity for a long position: it’s consolidating around the 0.65 mark, and with the rise in gold prices, it can reach 0.6650 soon, and push towards higher targets afterwards. Let’s look at technicals and fundamentals. AUD/USD Fundamentals The Australian economy is doing much better than other economies in the west. Growth, unemployment … “AUD/USD Long – Pick of the week”
USD/KRW Approaches 2-Month High
The South Korean won declined to almost two-month low level against the U.S. dollar today as the global economic crisis worsened, prompting investors to sell the emerging markets assets. Since January 1st until today the Korean currency has fallen 11 percent versus the dollar, showing one of the worst results among the most-traded Asian currencies. The Japanese economy slid by 12.7 percent … “USD/KRW Approaches 2-Month High”
Obama Stimulus Package to Weaken Dollar (Revisited)
Barack Obama’s stimulus Package was approved by both Congress and Senate. It narrowed down from $825 billion to 787$, but it’s still huge. Now that the final offer was approved, it’s time to look into it, and see how it will affect the dollar. On January 26th, I wrote that the stimulus package contains spilling … “Obama Stimulus Package to Weaken Dollar (Revisited)”
Pound Bounces Up on Stock Market Growth
The British pound showed the first daily gain today after three consecutive losses against the U.S. dollar as the countrys stock market showed an unexpected growth. The pound sterling also rose against the Japanese yen — for the first day this week after the FTSE 100 (the Britians stock market benchmark index) went up by more than 1.5 percent during the early trading session. … “Pound Bounces Up on Stock Market Growth”
AUD Falls as Stimulus Plan is Rejected
The Australian dollar declined against the U.S. dollar, the Japanese yen and the euro today as the countrys senate refused to adopt the Prime Ministers stimulus package worth of $27.4 billion. The Aussie has been growing recently after Kevin Rudd proposed fiscal and liquidity measures that would cost the budget A$42 billion but would gradually help the economy to recover. Traders were confident … “AUD Falls as Stimulus Plan is Rejected”
British Pound Drops Before Reports
The Great Britain pound continued to fall against the other major currencies today as the traders expect the negative results from the jobs and inflation reports today. The pound is currently falling for the second day against the dollar and the euro and for the third against the yen. Market participants expect that the Bank of England Inflation Report … “British Pound Drops Before Reports”
Euro Falls on Europe’s Troubles Worsening
The euro fell against the U.S. dollar and other major currencies, except the pound, as the Russian banks are waiting from their government to negotiate the $400 billion of loans with their mostly European creditors. The Forex market reacted to such news as to a signal that the problems in the European region are only getting bigger these days and moved to the safer assets … “Euro Falls on Europe’s Troubles Worsening”