The dollar started this weeks session rallying against several main currencies after China stated that it may continue to be used as a main reserve currency, and that the Asian nation wont change its foreign currency reserves suddenly. Guan Tao, deputy head of the international payment department at the Chinese State Administration of Foreign Exchange, wrote in Chinamoney magazine that the U.S. currency will remain as the … “Dollar Climbs as China Confirms Its Global Reserve Currency Status”
Category: Forex news
Dollar Declines on China Alternative Reseve Currency Demand
The Dollar ended the week losing against several major currencies after China declared this Friday that a supranational currency should be created for regulating international trade, damping demand for the greenback, which is currently the world main reserve currency. The euro posted the sharpest gains against the U.S. currency after Peoples Bank of China stated that the International Monetary Fund … “Dollar Declines on China Alternative Reseve Currency Demand”
SNB Intervention – Shortlived Indeed
The SNB intervened in the forex market to weaken the Swiss Franc. Though still above the levels before the intervention, USD/CHF has lost its hot air, and is now trading lower. A lesson about central bank interventions. On Wednesday, the Swiss National Bank intervened in the forex market in order to weaken the Swissy. Switzerland’s … “SNB Intervention – Shortlived Indeed”
Pound Rebounds as Risk Appetite Drive Investors to British Assets
The British pound had a day of gains versus the euro and the dollar as a new wave of risk appetite struck markets today, influencing investors to purchase assets in British stocks, weighing positively on the national currency. Todays gains trimmed the pound losses against the euro this week, in the first negative seven-day period in almost two months, as the FTSE 100 Index climbed 1.3 percent, in a wave of optimism … “Pound Rebounds as Risk Appetite Drive Investors to British Assets”
Dollar Drops on Interest Rate Outlook
The U.S. dollar had a weak performance today losing against most of the major traded currencies, as stocks rose for a third day, mainly in Asia, damping demand for the greenback. The U.S. currency lost today against 14 of the 16 main currencies, after Dallas Federal Reserve Governor Richard Fisher is likely to include in the next central bank statement that interest rates in the United States will … “Dollar Drops on Interest Rate Outlook”
Yen Slides on Fed Optimistic Tone
The Japanese currency, often associated with risk aversion by traders due to its relative safety, declined against all major currencies after the Federal Reserve confirmed signs of economic recovery in the American economy. All currencies gained against the yen this Thursday as the Japanese government stated that national investors bought more assets than sold for the seventh week in a row, adding … “Yen Slides on Fed Optimistic Tone”
Brazilian Real Climbs on Massive IPO Speculation
The Brazilian currency rebounded its previous week losses posting two days of significant gains versus main currencies before a massive IPO in the nations stock exchange, which is likely to attract a great influx of foreign capital to the countrys financial system. The real had a poor performance in the beginning in the week as world equities markets slid due to a sudden rise in risk aversion after a World Bank report indicating that the global slump may be deeper than … “Brazilian Real Climbs on Massive IPO Speculation”
Central Banks Intervention – Great Trade Opportunity
In the forex market, huge volume makes even big interventions very hard. The SNB’s intervention had a short lived effect last time, and this time is no different – the correction will come. Such cases are great trade opportunities. The Swiss National Bank intervened in the forex market on March 12th in order to weaken … “Central Banks Intervention – Great Trade Opportunity”
Yen Down After OECD Revealing Forecast
The Japanese yen, often associated as the best performing currency in times of crisis due to its refuge investment profile, lost today as the OECD predicted an unexpected growth to its member countries, spurring demand for high-yielding assets. The Organization for Economic Cooperation and Development stated today that its 30 member nations are expected to grow 0.7 percent next year, after a decline forecast of 4.1 for 2009, … “Yen Down After OECD Revealing Forecast”
Dollar Down on Durable Goods Data Speculation
The U.S. dollar had a day of weak performance losing ground to currencies like the euro and the Australian dollar as speculations that a report to be released this Wednesday will indicate a decrease in durable goods orders, affecting the greenback outlook negatively. The greenback lost significantly against most of the major currencies, as today, a durable goods orders reports is very likely to indicate the second fall in three … “Dollar Down on Durable Goods Data Speculation”