G7 Finance ministers expressed optimism in their meetings this weekend. This optimism ignites risk aversion which isn’t good for the US dollar, and might send other currencies higher against it. Finance ministers of the Group Of Seven met this weekend in Washington DC to discuss the state of the global financial crisis. These finance ministers, … “G7 Optimism – Bad for the Dollar”
Category: Forex news
South African Rand Strengthens After Elections
The South African currency climbed this week against the dollar, after the African National Congress, the winning party, is expected to maintain the current economic policies in the country. In South Africa, for a party to have the right to change the constitution unilaterally, it must reach two-thirds of the votes, and even if the new president Jacob Zuma party did not have it, the ANC … “South African Rand Strengthens After Elections”
Forex Trading Surging In 2009
Forex Trading is becoming more and more popular. New figures show that the uptrend continues in 2009, despite the recent stock market recovery. For forex traders, it’s trivial that there is a currency that always goes up. There is no “bear” market – but always a bullish market. You just have to go with the … “Forex Trading Surging In 2009”
Malaysian Economic Stimulus Pushes Ringgit Up
The Malaysian ringgit is topping the gains list among Asian currencies, followed by the Singaporean dollar, thanks to the government stimulus and interest rate cuts. The ringgit rose all week against Asian currencies, on speculations that the Bank Negara Malaysia, the national economic policy maker, is expected to cut interest rates after inflation had the most significant decline in 11 months. Interest rates … “Malaysian Economic Stimulus Pushes Ringgit Up”
Pound Falls on Pessimist Moody’s Declaration
The Moodys Investors Service declarations that finances would be deteriorating in Britain brought the pound further down against the yen and the euro. The pound failed to recover against major currencies after negative domestic statements that the government is taking risks managing wrongly a financial system on the brink of collapse. The euro had consistent gains against the pound with improved confidence reports from Germany and France, making the pound unable to react and creating a perfect bulling … “Pound Falls on Pessimist Moody’s Declaration”
Euro Strengthens on Positive Economic Reports
The dollar and the yen lost ground against the euro, as an index of services and industrial production in Europe showed better than estimate numbers, creating speculations of an economic recovery in the Eurozone. An index combining services and industrial numbers in the Eurozone rose from 38.3 in March to 40.5 in the last report, which was significantly more than what economists were expecting. After breaking multiple record lows, … “Euro Strengthens on Positive Economic Reports”
New Zealand Dollar Rises On Credit Improvement Speculations
The New Zealand and the Australian dollar went up as rumors about a credit market recover spread amid investors this Thursday. After a substantial drop during the beginning of the week, the kiwi and the Aussie reversed their trends as the Credit Suisse Group AG, a leading credit provider in the financial sector, reported earnings during the first quarter. The main economies in Oceania … “New Zealand Dollar Rises On Credit Improvement Speculations”
Yen Rises on Deepening Crisis Speculations
The yen had a significant rise today against major currencies, rumors that losses in the U.S. banks will go further brought investors to buy Japanese assets, considered a «safe harbor» from the global crisis. A part from the international news, a domestic report showing that exports are decreasing at a slower pace improved the optimism even further in Japan, since for 4 months in a row, the exports … “Yen Rises on Deepening Crisis Speculations”
Korean Won Rises On Optimistic Declarations
After 3 days of sequential losses, the South Korean won had its first session of gains as the American Treasury Secretary Timothy Geithner affirmed that most banks in the U.S. have «enough capital», causing a rally in assets from emerging countries. This week didnt necessarily start as a satisfactory one for KRW traders, with China failing to recover its GDP growth and after the Bank of America … “Korean Won Rises On Optimistic Declarations”
Big Day in Britain
Tomorrow, April 22nd, is a big day in Britain, with many major releasesץ GBP.USD will shake, and so will two interesting Pound crosses: EUR/GBP and GBP/JPY. Here’s a special coverage of tomorrow’s 7 British releases, in this critical week for the Pound: Apart from the Annual Budget Release, all the figures are released at 8:30 GMT. … “Big Day in Britain”