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Day: April 11, 2011
April 112011
Euro Falls as Higher Rates Can Cripple Weaker Economies
The euro slipped today on the speculation that the interest rates hike, performed by the European Central Bank last week, may hurt the most indebted nations of the European Union. The ECB raise its main interest rate on April 7, causing the uncertainty about the future of the European economy. Generally, the higher interest rates are considered good for an economy, but only if economic growth is strong enough. The problem with the EU is […]
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April 112011
Australian Dollar Falls on Profit-Taking
The Australian dollar fell today, after it almost reached the previous record high earlier, on the speculation that traders will sell the currency to profit from the unprecedented rally. The strength of the Australian currency was caused by the rally of commodities. The Reuters/Jefferies CRB Index of raw materials rose 2.2 percent last week, posting the third straight weekly gain. It’ll be interesting to see will the rally continue this week or investors will […]
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April 112011
Yen Rises After Another Earthquake in Japan
The Japanese yen gained today as another earthquake in Japan turned investors away from higher-yielding assets and made them seek safety. Carl Forcheski, a director on the corporate currency sales desk at Societe Generale SA, commented on the new trend of the yen: Weâve had a nice run in risk trades in the past couple of weeks, and along with it the yen has moved significantly weaker after the G-7 intervention. A lot of market participants see […]
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April 112011
Will EUR/USD Reach 1.5000 in April?
EUR/USD is currently trading inside 1.4417–1.4486 range. It hasn’t been above 1.5000 since November 2009. At the same time, the currency pair has managed to gain more than 21% in 10 months. Many Forex experts consider EUR/USD to be in a bullish trend. Elliott Wave analysis of the weekly chart suggests that it’s now experiencing its strongest dominant trend wave (the 5th one), but will it […]
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