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Day: October 27, 2010
October 272010
Fed May Buy Fewer Bonds — Dollar Gains
The US dollar climbed today against all other major currencies on the speculation that the bonds purchases by the Federal Reserve would be less extensive than anticipated. The moves of the dollar recently were very strongly tied to the talks about the quantitative easing. The easing was priced in the weaker dollar, so any signs of less stimulus being added by the Fed make the dollar stronger. The good macroeconomic reports from the US add to the speculation […]
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October 272010
South Africa’s Finance Minister May Weaken Rand
The South African rand fell today on the speculation that the Prime Minister would announce the measures to weaken the currency during his today’s speech. South Africa’s unemployment rate reached 25.3 percent in the third quarter of this year, while it was 25.2 percent in the second. The labor unions and the manufacturers claim that the strong currency are hurting exports and increasing unemployment, spurring Pravin Gordhan, South Africa’s Minister of Finance, to weaken […]
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October 272010
Norwegian Krone Drops on Outlook for Interest Rates
Norway krone fell today as the central bank would refrained from increasing the interest rates and on the speculation that the bank would slow the monetary tightening in the future. Norway’s central bank left its overnight deposit rate unchanged at 2 percent today as was expected. The analysts also expect that the bank would postpone the rates increases till the beginning of the next year as the struggling global economic recovery threatens the Norwegian economy. USD/NOK […]
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October 272010
Good US Economic Data Trims Outlook on Quantitative Easing
US economy continues to produce unexpectedly good results, driving EUR/USD further down. This data also influence the outlook for quantitative easing, which in turn boosts dollar. Quantitative easing was already priced in the dollar price, so speculation about less additional stimulus drives dollar up. EUR/USD trades now near 1.3794. US durable goods orders increased by 3.3% in September, following a decline by 0.1% a month earlier. […]
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October 272010
Aussie Falls as Slower Inflations Curbs Bet On Interest Rates Hike
The Australian dollar fell after the report showed that the consumer prices rose less than expected, decreasing the possibility of the interest rates hike by the central bank. The consumer prices in Australia rose 0.7 percent in the third quarter from the second quarter, compared to the median forecast of 0.8 percent. The prices increased by 2.8 percent from a year ago. The expected value was 2.9 percent. The report caused the speculation that the interest rates increases […]
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