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Day: December 27, 2010
December 272010
Yuan Slips as China Raises Interest Rates and May Do So Again
The Chinese yuan slipped today as the central bank raised its interest rates in an attempt to curb China’s significant inflation and to prevent the asset-bubble. China’s economic growth makes traders expect another rates hike in the future. The Peopleâs Bank of China raised its key one-year lending and deposit rates by 25 basis points on the Christmas Day, the second increase since mid-October. The benchmark lending rate advanced to 5.81 percent, while it was […]
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December 272010
Higher Interest Rates in China Weaken Australian Dollar
The Australian dollar declined against the euro after China’s central bank increased its interest rates, causing speculation that China may intensify its attempts to curb the inflation. The Australian currency posted small gains versus the US dollar and the Japanese yen. The Peopleâs Bank of China raised its key one-year lending and deposit rates by 25 basis points to 5.81 percent on December 25th. The higher interest rates will likely […]
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December 272010
Taiwan Dollar Gains on Anticipation of Rates Hike
The Taiwan dollar gained today as the anticipation of the possible interest rates hike increased the appeal of the currency. The Economic Daily News said that Taiwan’s central bank may boos the interest rates after its Chinese counterpart has done so earlier. The Taiwan policy maker will discuss the rates hike this week in the quarterly policy meeting. USD/TWD went down from 29.6120 to 29.5005 as of 10:33 GMT today. If you have […]
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December 272010
Euro Advances on Rally of Asian Stocks
The euro advanced against the US dollar today as the gains of the Asian stocks muted the impact of the interest rates hike in China, increasing the investors’ willingness to risk. The MSCI Asia Pacific Index of regional shares advanced 0.3 percent even after China’s central bank raised the interest rates by 25 basis points to 2.75 percent. The Dollar Index, which tracks the dollar versus the currencies of six major US trading partners, fell 0.2 […]
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December 272010
ATC 2010 Is Over
The Automated Trading Championship 2010 (MetaQuotes‘ contest among MetaTrader 5 expert advisors) is now officially over. The last trading day was on December 24 and it has failed to bring any surprises to the overall results in the prize positions. The first three places of this Forex championship are the following: bobsley (Russian Federation) — with the final balance of $77,103. Was a leader of the race for about 1 month. Used a single-currency EUR/USD […]
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