British Construction PMI was a huge surprise. Adding to previous figures, British housing is clearly off the bottom. The Pound rallied after this release. British Construction PMI jumped to 38.1 points, much much better than last month’s 30.9, and also far better than early expectations which stood on 31.9. This huge leap in Purchasing Managers … “British Housing is also Recovering”
Category: Forex news
Brazilian Real Hits Six-Month High as Commodity Prices Rise
The Brazilian currency has been rallying against the dollar since risk appetite has increased last week on global markets, a rise in commodity prices and the domestic stock market helped the currency to strengthen. Brazils real and the South African rand are the two best performing currencies since the optimism has returned to global financial markets, which made traders leave refuge … “Brazilian Real Hits Six-Month High as Commodity Prices Rise”
Euro Weakens on Rate Cuts Speculations
After consecutive days rallying against the dollar and the yen, the euro fell on speculations that the European Central Bank will cut its interest rates to stop the deepening recession to cause more damages in the blocs economy. The European Commission declared yesterday that the Eurozone economy will contract around 4 percent this year, a more pessimistic forecast than previous ones, which … “Euro Weakens on Rate Cuts Speculations”
South Korean Won Hits 4-Month High Against U.S. Dollar
The South Korean currency has been favored since the beginning of the year by both domestic and international signs of improved economic conditions. The South Korean stocks rallied this Monday pushing the national currency up as extremely favorable economic reports were released in both local and international markets. The national central bank injected less than forecast foreign currency in the domestic market, … “South Korean Won Hits 4-Month High Against U.S. Dollar”
Global Slump Ending Speculations Weaken Yen
The yen continued the bearish trend which started last week when positive economic news pushed the equities market up, decreasing demand for the low-yielding Japanese currency. The yen will be soon entering the second week of losses against the euro and hit a six-month low against the Australian dollar, as growing optimism attracts investors to higher-yielding assets. The U. S. dollar, considered … “Global Slump Ending Speculations Weaken Yen”
8 Reasons why Non-Farm Payrolls will be Better
Some American figures have shown improvement in the past month. Also economists have expressed optimism. This should be reflected in the upcoming Non-Farm Payrolls? April’s NFP could be better than expected. The dollar will feel it. There are several economic indicators that show that the American economy is improving, or at least stabilized. Hope for America … “8 Reasons why Non-Farm Payrolls will be Better”
Canadian Dollar Continues Rise on Positive Economic Forecasts
The loonie posted gains for 5 weeks in a row, on speculations that the global financial turmoil is easing, pushing commodity prices up. Canadas currency has been a fantastic investment since the beginning of March, against its U.S. counterpart, having the biggest rally since November 2007 gaining more than 2 percent during the past week. This month has been an optimistic one if compared with the previous … “Canadian Dollar Continues Rise on Positive Economic Forecasts”
Chilean Peso Strengthens on Central Bank Policy Bets
The Chilean currency continues its six-month bullish trend as copper price goes up and the national bank is expected to cut interest rates to improve the economy. In the second semester of the past year, the Chilean currency had a severe devaluation when the global slump scenario was confirmed, but since December, and despite the current problematic economic situation in the country, the peso … “Chilean Peso Strengthens on Central Bank Policy Bets”
Yen Weakens on U.S. Economy Recovery Speculations
The yen had a week of losses against the euro and the dollar, as the first signs of economic recovery appear in China and in the U.S. The dollar rose against the yen after Chrysler LLC filed for bankruptcy and will ally the Italian Fiat SpA with the investment of federal funds, as President Barack Obama confirmed this Thursday. The euro has posted … “Yen Weakens on U.S. Economy Recovery Speculations”
New Zealand Interest Rate Reaches Record Low at 2.5%
The Reserve Bank of New Zealand cut its benchmark interest rate from 3.0 percent to 2.5 percent to a record low level for the countrys economy. New Zealand was one of the most punished countries by the global slump due to its commodity exporter economic profile and since July, the central bank has continuously cut the national interest rate from 5.75 percent to the current level of 2.50 percent … “New Zealand Interest Rate Reaches Record Low at 2.5%”