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Day: April 30, 2009
April 302009
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 […]
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April 302009
Dollar Weakens as Refuge Currencies Lose Demand
The dollar dropped against the euro for the second day in a row as stock market conditions improve, bringing risk appetite back among investors. Refuge investments such as the yen and the greenback are losing ground as risk aversion declines in global markets, pushed by improved economic conditions and confidence in some economies. After rising speculations that Chrysler LLC will go bankrupt, the U.S. dollar fell against most of the world currencies, specially against those […]
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April 302009
EUR/USD Fails to Remain on Top
EUR/USD spiked up during the early trading session reaching as high as 1.3385 (the highest level since April 13) after opening at 1.3256 but after the fundamental reports in U.S. showed that the worlds biggest economy is stalling the currency pair rolled back below the daily open level. Its now trading near 1.3244. Initial jobless claims decreased from 345k (revised up from 340k) to 331k last week, which […]
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