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Day: September 14, 2010
September 142010
Loonie Strengthens vs. Greenback on Outlook for Interest Rates
The Canadian dollar reached today the highest level in almost six weeks against the US dollar on the outlook that the central bank would continue to raise the interest rates. The currency slipped versus the euro as doubts about the strength of the US economy remains, which is bad for the Canadian currency as the US is the major trading partner of Canada. The loonie also rose after the Basel Committee on Banking Supervision gave lenders enough time to comply […]
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September 142010
Yuan Rises to Highest Level Since 1993 vs. US Dollar
The Chinese yuan reached the strongest level since 1993 versus the US dollar today on the speculation that China’s government would allow the faster appreciation of the currency to avoid the trade sanctions from the US. Lu Ting, the economist at the Bank of America-Merrill Lynch explained: China doesnât want to see the relationship with the U.S. get hurt because of the currency issue. There will be more space for yuan appreciation also because signs show […]
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September 142010
Swiss Franc Reaches Parity with US Dollar as Growth Concerns Rise
The Swiss franc reached parity with the US dollar today for the first time since December 4th 2009 as the demand for the safety grew on the concerns for the global recovery and the stocks declined. The German ZEW Economic Sentiment slipped from as much as 18.3 point from 14.0 to -4.3 in September. The reading below zero indicates pessimism. Axel Weber, the president of the Deutsche Bundesbank, said that the European policy makers “shouldnât be tempted to call an end” […]
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September 142010
Yen Rises As Kan Wins DPJ Vote, Intervention Unlikely
The Japanese yen strengthened today after Naoto Kan, the Prime Minister of Japan, won the vote of the Democratic Party of Japan, beating his rival Ichiro Ozawa. Ozawa stated last week that the government needs to intervene in order to prevent the yen’s appreciation as the stronger currency hurt the exports, making them more expensive. The Kan’s government is considered too weak to intervene in the market. The yen also gained after the bad economic data […]
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September 142010
EUR/USD Rises After Decline on Sentiment
The euro slid versus the dollar earlier as the confidence in Europe’s economy worsened but now returned to its opening level and continues to rise. There is not much data from the US today. Retail sales rose as was expected and business inventories unexpectedly surged. EUR/USD trades currently near 1.2897 after it slumped to 1.2829. Retail sales rose 0.4% in August, just as forecasts promised. July growth was revised […]
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September 142010
InstaForex First Broker to Offer Real MetaTrader 5 Accounts
Breaking news! InstaForex announced today that it became the first Forex broker to offer real accounts with MetaTrader 5 as the trading platform. Although it’s a great news for all traders (that are trading or have ever considered trading with InstaForex), as the MT5 platform has many advantages (like more timeframes and improved strategy tester), the current version of the platform and the MQL Editor/language is quite far from being […]
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