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Day: August 30, 2011
August 302011
Swedish Krona Falls on Growth & Interest Rates Outlook
The Swedish krona today fell against all its most-traded peers as the government slashed its growth forecast for the nation’s economy, spurring speculation that the central bank won’t be able to increase lending rates. Sweden cut its growth forecast for this year from 4.6 percent to 4.1 percent. The forecast for the next year was slashed from 3.8 percent to 1.3 percent. The Riksbank will announce its decision on interest […]
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August 302011
USD Gains vs. EUR & CHF, Falls vs. JPY
The US dollar managed to gain against the euro and the Swiss franc today, but fell against the Japanese yen as mixed fundamentals left traders unsure about prospects for the US currency. The Standard & Poor’s Case-Shiller House Price Index fell 4.5 percent in June on year-over-year basis. That’s better result than the predicted 4.7 percent decline and the drop by 4.6 percent in May. On the other hand, Conference Board consumer sentiment was […]
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August 302011
Building Permits in Australia & New Zealand Rise, Aussie & Kiwi Gain
The Australian and New Zealand currencies rose today, before declining later, after the reports showed that number of building permits in these countries increased in July. New Zealand building consents rose 6.3 percent in July, following a fall of 4.3 percent in June. Australian building consents increased 1.0 percent in July on a seasonally adjusted monthly basis after falling 3.6 percent in June. Currently, the kiwi tends to decline, while the Aussie […]
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August 302011
Euro Ends Rally as ECB Expected to End Interest Rates Hikes
The euro slumped today, ending its two-day rally against the dollar, on the speculation that the European Central Bank will stop to increase interest rates as economic outlook became uncertain. ECB President Jean-Claude Trichet said yesterday during the Hearing at the Committee on Economic and Monetary Affairs of the European Parliament: Incoming information since our last regular hearing in June continue to point towards ongoing growth in the euro area, although â as expected […]
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August 302011
Forecast: Fundamentals Aren’t Favorable for Pound
The Great Britain pound fell during the previous week, but rose at the beginning of this week. Could it be a sign that the sterling is going to reverse its bearish trend? The currently available data shows that such case is unlikely. Previously, gains of the pound were mainly by investors fleeing from the euro and the problems of the European Union to the UK currency that was perceived to be somewhat safer. But the macroeconomic […]
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August 302011
EUR/USD Slumps as ECB Unsure About Future
EUR/USD dropped today as the comments of European Central Bank President Jean-Claude Trichet yesterday made traders believe that the ECB is going to pause its interest rates hikes. Today’s report about home prices, that turned out to be a little better than expected, drove the currency pair further down. The report about consumer confidence wasn’t dollar-friendly, though, and, consequently, the euro erased some of its losses. […]
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August 302011
Yet Another Australian Forex Broker — IC Markets
IC Markets (or International Capital Markets) is a new Forex broker in the list of broker on EarnForex.com. Its website was launched in 2010 and it’s fully registered and regulated by ASIC. They offer three different trading platform — MetaTrader, one web-based platform and a specialized platform to trade CFDs, futures, stocks and commodities. The minimum account can be opened with $200 and the micro-trading is allowed. Although it’s a Forex market broker, they […]
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August 302011
Crude Oil Rallies, Helps Ruble
The Russian ruble retreated after its has gained as crude rallied for the third day on optimism for global economic, making Russia’s currency more interesting for investors who are willing to risk in search for higher yield. Futures for delivery of crude oil in October rose 2.2 percent to $87.26 per barrel in New York. Optimism, caused by Bernanke’s speech on Friday, boosted commodities. The positive report about personal income and spending in the US was […]
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August 302011
Market Optimism Makes Loonie Stronger
The Canadian dollar gained, rising to the highest level in more than a week against the greenback, as stocks and commodities rallied, making the growth-linked currency appealing to investors. Federal Reserve Chairman Ben S. Bernanke spurred optimism on markets last Friday and it still persists. The Standard & Poorâs 500 index rose as much 2.8 percent. October futures for delivery of crude oil (main export of Canada) gained 2.5 percent to $87.52 per […]
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