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Day: April 5, 2011
April 52011
South Korean Won Retreats on Possibility of Intervention
The South Korean won ended its five-day rally, falling today, on concerns that the government will intervene to slow the appreciation of the currency. The won also weakened on the speculation that demand for the dollar will increase as overseas investors will convert their earnings. Foreign investors expanded their holdings of Korean shares for a 14th day, the longest streak of net purchases so far this year. USD/KRW rose from 1,087.70 to 1,088.80 today […]
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April 52011
Britain’s Service Sector Makes Sterling Stronger
The Great Britain pound jumped today after the report showed that Britain’s service industry unexpectedly grew in March, supporting the outlook for higher interest rates. The Markit/CIPS Business Activity Index was at 57.1 in March, seasonally adjusted. It was expected to fall slightly to 52.5 from February’s 52.6. The business activity rose as companies benefited from improved business conditions, higher sales and increased enquiries. GBP/USD climbed from 1.6130 […]
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April 52011
Unversal FX — Swiss Forex Broker with PAMM
Unversal FX (latest addition to the broker list on EarnForex.com) is based in Switzerland and is also a member of ARIF. Like some other Swiss Forex brokers, the entry conditions are rather restricting — minimum account size is $2,000 and there’s no micro-trading. Universal FX also requires their clients to confirm their identity by sending the documents via postal mail. Meanwhile their spreads are quite competitive and the PAMM system […]
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April 52011
Yen Slips on Mounting Evidences of Economic Recovery
The Japanese yen went down today as the reports today are expected to show that the US services industry grew and the European retail sales increased. The report of Eurostat is expected to show that the retail sales in Europe grew 0.1 percent in February. Experts also predict that the report of the Institute for Supply Management will show that the services PMI rose from 59.7 to 59.8 in March. The signs of the strong economic growth increases […]
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