The Japanese yen rose to its two-week high level against the euro and one-week against the Great Britain pound today as the stock markets tumbled yesterday in U.S. and continued to fall in Asia today. Yen also continued to grow against its popular carry trade counterparts — New Zealand and Australian dollars as the traders believed that the central banks in those countries will … “Stocks Decline Spurs Yen Gains on Forex”
Category: Forex news
ZAR Trades Near 6-Month High vs. Dollar
The rand of South Africa traded near its 6-month highest value against the U.S. dollar today before and after the report that showed acceleration in the producer price index last month. The producer-inflation report that was released today at 9:30 GMT today in Johannesburg revealed that June inflation accelerated to 16.8 percent year-to-year growth compared to 16.4 percent annual rate in May. Monthly advance in June … “ZAR Trades Near 6-Month High vs. Dollar”
Australian Dollar Falls on Housing Decline
The Australian dollar fell today to the the one-month lowest level against the U.S. dollar after the report of unexpected drop in housing approvals in June. The Aussie repeats the yesterdays decline of the New Zealand dollar, when it has fallen sharply after the housing approvals there dropped to 20-year low. Unlike New Zealand, the Australian central bank didnt cut interest rates this year … “Australian Dollar Falls on Housing Decline”
Building Approvals Slump in New Zealand
The New Zealand dollar fell significantly against the other currencies today after the release of the report that showed that the home-building approvals in the country declined to the lowest level in almost 22 years in June. According to a report released yesterday at 22:45 GMT, the approvals fell 20 percent compared to May to 1,337 on a seasonally adjusted basis. Thats the lowest reading for this indicator since October 1986. … “Building Approvals Slump in New Zealand”
Dollar Falls vs. Euro, Yen on Recession Fears
As the investors feared that the U.S. financial institutions will continue to lose on the credit crunch and the oil prices rose, the U.S. dollar declined from its local maximums against euro and yen. The U. S. currency fell for a second day against the euro and for the first day against the Japanese yen after the Federal Reserve Bank … “Dollar Falls vs. Euro, Yen on Recession Fears”
Yen Gains versus Euro on Stocks Decline
The Japanese yen gained against the euro and other currencies on the Forex market today, making this week the first bullish one since May, as the stock markets declined world-wide spurring sell-off on the carry trade market. Stock markets declined yesterday in the United States and Europe and continued to fall in Asia today. Such financial environment is considered to be very unattractive for … “Yen Gains versus Euro on Stocks Decline”
NZD at Lowest since January on Rate Cut
The New Zealand dollar fell to its 6-month low level against the U.S. dollar after the Reserve Bank of New Zealand cut the interest rate by a quarter percent point in its first rate reduction in the last five years. Today New Zealand currency (also known as Kiwi) continued its downward trend started a week ago when traders began to decrease their positions in NZD … “NZD at Lowest since January on Rate Cut”
Pound Drops on Blanchflower’s Comment
The Great Britain pound fell today against its major counterparts after the private report on July house prices decline and the commentary made by the Bank of England policy maker. There were two significant down-pushing factors for the pound today. First was the report by the Rightmove Plc, Britains most popular website on real estate, which showed a serious decline in the U.K. … “Pound Drops on Blanchflower’s Comment”
Chilean Peso is the Worst Performing Currency
The Chilean peso became the worst performing currency in the last three months as the inflation soared and the central bank kept supporting exporters. The peso dropped 11.8 percent against the U.S. dollar during the last three months as the government has been buying $50 million each day to support the national exporting companies keeping output growth up. Meanwhile inflation accelerated to 9.4 percent — the fastest rate in 14 years putting such practice to question. Going up from the worst position … “Chilean Peso is the Worst Performing Currency”
Rand Goes for a Fifth Weekly Gain
The South African currency headed for its fifth straight weekly growth against the U.S. dollar today as the traders speculated on the higher demand for the local currency from the carry trade participants. The rand went up to its highest level against the U.S. currency during the last 6 weeks yesterday as the problems in the U.S. mortgage market proved to be more serious … “Rand Goes for a Fifth Weekly Gain”