The South Korean currency is heading for more losses as the government is searching for ways to support the exporting companies and the economic growth. The won is the second weakest major currency after the South African rand since the beginning of 2008 and is the first losing currency for March. According to Citigroups analysis the Korean finance ministry will win with the Bank of Korea … “Won Heading for More Losses”
Author: admin_mm
U.S. Dollar Steady Ahead of GDP Release
The U.S. dollar is trading higher than its yesterdays close level now as the investors are waiting for the fourth quarter GDP data to be released today. The final value of the fourth quarter 2007 U.S. gross domestic product and the weekly initial jobless claims number will be released today and can significantly change the dollars trend on Forex. If the GDP value is released below 0.6% … “U.S. Dollar Steady Ahead of GDP Release”
Pound Falls on Account Deficit
The commentary on the current account deficit in United Kingdom pulled the Great Britain pound down today, as it added one more reason for the British currency to be less favored by the Forex trading institutions. The Bank of Englands executive director and chief economist, Charlie Bean, spoke before the Treasury Select Committee today, saying that the size of the current account gap is likely to keep … “Pound Falls on Account Deficit”
Australian, N.Z. Dollars Rise for Second Day
Both Australian and New Zealand dollar continued to rise today after the yesterdays fast growth as the investors remained confident in the stock markets improvement and in the carry trade. The most notable losers against the Aussie and Kiwi for today are the Japanese yen and the U.S. dollar. Both currencies have the significantly lower interest rates associated with them … “Australian, N.Z. Dollars Rise for Second Day”
Yen and Franc Decline on Rising Stocks
The Japanese yen declined today from its recent high values against the U.S. dollar, pound and euro as the global stock markets gained and the high-yielding assets looked more attractive than on the last week. The yen was joined by another low-risk currency the Swiss franc. They both started this week with a decline against the more risky currencies after Fed spurred investors activity in U.S, Europe and Asia. Good news … “Yen and Franc Decline on Rising Stocks”
Indian Rupee Appreciates on Market Revival
The Indian rupee rose significantly today on Forex as the markets were restoring from the recent sharp fall and the economies of the developing countries started to receive more capital inflows. The Indian currency gained more than 1% after reaching its half-year bottom rate against the U.S. dollar on March 17. U.S. Federal Reserve lowered the interest rate last week and ruled … “Indian Rupee Appreciates on Market Revival”
Chilean Peso Falls on Lower Copper Price
Chilean peso fell from its recent record high value against the U.S. dollar yesterday as the copper price slid down significantly on the global concerns of thedecveloped economies slowdown. Although the Chinese economy, one of the biggest copper importer, is still showing a significant growth, the concerns that it will slow down due the global financial crisis are bothering commodity traders. Copper is the … “Chilean Peso Falls on Lower Copper Price”
Inflation Pushes Yuan to Highest Rate
The Chinese yuan rose to the highest rate against the U.S. dollar since the end of the yuans peg to dollar in 2005 as the government is believed to start fighting the domestic inflation rate more devotedly. Yuan has already gained more than 3.4% since the beginning of the year, and, according to the yesterdays report by the Peoples Bank of China, the dollar is expected to depreciate further during the first … “Inflation Pushes Yuan to Highest Rate”
Was It the Last Rate Cut in Cycle?
Yesterday the Federal Reserve lowered the benchmark interest rate from 3.00% to 2.25% to help the banking institutions during the times of global financial turmoil, but will the investors expectations for the further cuts be satisfied? The markets reacted very positively on the interest rate cut yesterday with a record breaking 4.2% growth on S&P 500 Index. Even the U.S. dollar, which usually suffers … “Was It the Last Rate Cut in Cycle?”
Australian Bank Lower U.S. Dollar Forecasts
According to Australias largest mortgage provider, Commonwealth Bank of Australia, the U.S. dollar will perform worse than experts previously expected for this year. The strengthening financial crisis in the United States forced the Federal Reserve to cut rates at a greater pace than it was expected in the banks previous forecast. The U. S. dollar has already dropped about 5% against the Australian dollar and 3.9% against … “Australian Bank Lower U.S. Dollar Forecasts”