The Indian rupee showed a weakening today at the Forex market as the speculations that the domestic companies will have to buy oil rose in the country. As the commodities prices stopped falling today on the global markets the fears that the companies will have to convert the national currency into dollars to buy the oil pushed the rupee down. It was among the worst performing Asian currencies today. While rupees behavior is seen as closely correlated with the oil prices, it will … “Rupee Falls on Oil Demand Speculations”
Category: Forex news
Continuous Trading in the Forex market
The Forex market operates 24 hours a day. This is possible since trading happens on all continents. This continuity is unique, and it allows dealers to act without any time limits, to react to any development that occurs in another place on the globe. For some traders who are not experienced, this might be very … “Continuous Trading in the Forex market”
Yuan Appreciates beyond 6.9 per Dollar
The Chinese yuan extended its gain against the U.S. dollar today reaching the 20 percent appreciation since the end of the peg in 2005 as the new meetings of the U.S. and Chinese financial officials will be held soon. The yuans gain for the period since July 21 2005 can be compared with 29 percent gain of euro versus dollar for the same period. Great Britain pound rose … “Yuan Appreciates beyond 6.9 per Dollar”
Yen Falls as Carry Trade Attracts Traders
The Japanese yen fell significantly today against the other major world currencies as the fast growth on the Asian and European stock markets attracted more participants to the carry trade activities. Yen was used as a low-cost borrowing currency to fund the high-risk assets, including such currencies as euro, pound and the Australian dollar. All those currencies rose good today against the … “Yen Falls as Carry Trade Attracts Traders”
Paulson, Lagarde, Kudrin Support USD at G8
The finance ministers from the Group of Eight nations confirmed their position in the favor of a stronger U.S. dollar at the meeting in Osaka, Japan today. The U.S. Treasury Secretary Henry Paulson said that the strong dollar «is in our nations interest» after the meeting today. French Minister of Finance Christine Lagarde told reporters that shes happy to know that the U.S. financial authorities are pro … “Paulson, Lagarde, Kudrin Support USD at G8”
U.S. Dollar Headed for Record Bullish Week
The U.S. currency is heading for its biggest weekly gain since March 2005 against the European currency as the dollar benefits both from past Bernankes statements and the current expectations for G8 meeting. Many reasons stand behind such a fast dollar appreciation this week among them Feds intention to raise the interest rate to fight the inflation and the Treasury Secretary Henry Paulsons statement that … “U.S. Dollar Headed for Record Bullish Week”
Aussie Falls on Employment Drop
The Australian dollar fell to its one month low against the U.S. currency as the jobs dropped in May for the first time since October 2006 and the traders became more confident that the central bank wont be raising interest rate more. The Aussie showed the worst performance today among the 16 most-traded currencies on Forex as the high interest rates may have already … “Aussie Falls on Employment Drop”
Dollar Gains on Retail Sales Expectations
The U.S. dollar rose against euro, pound and yen today, rebounding from the yesterday drop, as the market strategists expect a good report on the U.S. retail sales to support Feds hawkish interest rate outlook. The retail sales report that will be released today at 12:30 GMT will probably show that the consumer economy got boosted by the governments $50 billion tax-rebate plan checks. Better retail … “Dollar Gains on Retail Sales Expectations”
Chilean Peso Drops as Risk Aversion Grows
The Chilean currency suffered a large daily drawdown today as the declining stock markets around the world pressed on the investors to sell their high-yielding assets including emerging economies currencies. The stock markets were declining today in U.S. and Europe as the central banks signaled a possible rate increase that would probably hurt the global economic development. While the major financial companies are still suffering from the subprime lending crisis, the inflation fears … “Chilean Peso Drops as Risk Aversion Grows”
Dollar Recovers against Yen after Friday
The U.S. dollar recovered against the Japanese yen today after the dollar lost significantly against yen on Friday and this week trading opened with a wide gap against the greenback on Forex. USD/JPY had its biggest drop last Friday since March 19 this year. As the Forex market opened today the currency pair experienced a very wide gap of almost 50 pips (it closed … “Dollar Recovers against Yen after Friday”