The Chinese yuan showed the first declining day since Monday on Forex today as the traders were driven by the speculations that the government will let national currency weaken slightly to support exporters. Yuan declined for the first time in last three days after release of the report that the GDP growth decreased in the second quarter of 2008. Such situation may trigger … “Yuan Declines for a First Time since Monday”
Category: Forex news
Markets Expect Further Losses from Banks
The U.S. dollar fell against the Japanese yen today for a second day as the global financial markets expected the U.S. banks to report further losses and decrease the attractiveness of the worlds largest economy. Dollar reached its all-time low against euro yesterday after Ben Bernanke said that the economic risks hadnt diminished yet. Today, investors are waiting for the quarterly … “Markets Expect Further Losses from Banks”
AUD Gains on U.S. Credit Market Losses
The Australian currency rose its highest value in last 25 years against the U.S. dollar as the credit markets continued to lose on the mortgage lending crisis in the United States. The Australian dollar (also referenced as Aussie in the Forex slang) showed a fifth day of growth in a row and reached the maximum level against the dollar sine January 1983. Investors are afraid that the … “AUD Gains on U.S. Credit Market Losses”
Dollar Gains against Yen, Euro, Pound
The U.S. dollar showed the first daily growth against the euro in last four trading days after the U.S. Treasury Secretary Henry Paulson announced the governments funding plans for the failing mortgage lending giants Freddie Mac and Fannie Mae. The dollar also rose against the other major currencies, including Japanese yen and British pounds, after the arrival … “Dollar Gains against Yen, Euro, Pound”
Indian Rupee Heading for Weekly Gain
The Indian rupee is more likely to end this week in a positive zone against the U.S. currency as the investors expected that the companies good reports will attract traders and the conversion to local currency. The Indias currency rose to its 2-week highest level today against the dollar after the report by the Infosys Technologies Ltd. showed results that exceeded the analysts estimate. … “Indian Rupee Heading for Weekly Gain”
Chinese Yuan at New High vs. Dollar
The Chinese yuan continued its general appreciation trend today and rose against the U.S. dollar and other major currencies as the traders believed that the central bank will continue to use stronger yuan in its anti-inflation policy. As the inflation soared to 8.1 percent annual rate in the first five months of the year, Chinese Premier Wen Jiabao has already said this month … “Chinese Yuan at New High vs. Dollar”
Australian Dollar Fell on Less Home-Loans
The Australian dollar declined today on Forex during the Asian trading session after the report on home-loans showed a massive decline in the sector and the consumer sentiment index dropped to its lowest level since 1992. The Aussie (a nickname for the Australian currency) declined against all other major currencies including the U.S. dollar, the yen and the New Zealand dollar … “Australian Dollar Fell on Less Home-Loans”
Yen Advances on Stocks Downfall
The Japanese yen rose against all other major currencies today on Forex as the stock markets declined in Asia and Europe, while the investors became concerned about more losses from the mortgage crisis worldwide. The yen also advanced significantly against its carry trade counterparts — such as Australian and New Zealand dollars. In carry trade investors borrow cheap Japanese yen to buy … “Yen Advances on Stocks Downfall”
Dollar Continues Friday’s Growth
The U.S. dollar continued to grow today during the Asian trading session as the traders followed the Fridays trend and are now expecting some hawkish commentaries from the next Ben Bernankes speech. Despite the weak report on the employment situation, which was released last Friday, the investors saw it as a rather positive signal and switched to buying the dollar, which lead to the new … “Dollar Continues Friday’s Growth”
NZD Risks Falling Low against Yen
According to the analysts from Citigroup Global Markets Inc., the New Zealand dollar may experience the lowest value against the Japanese yen in more than 10 month if it closes below the current triangle pattern support line. NZD/JPY currency pair is supported at 79.97 level, where the ascending trendline of the triangle pattern is clearly visible on the weekly chart. The descending trendline of a triangle starts from … “NZD Risks Falling Low against Yen”