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Day: September 14, 2011
September 142011
Indonesia Intervenes to Support Rupiah, India & South Korea Follow
The Indonesian central bank intervened, selling dollars, to support the Indonesian rupiah that was weakened by the pessimistic outlook for the currencies of the emerging markets. Hartadi Sarwono, Deputy Governor of the Bank Indonesia, said in the interview the central bank “intervened in the rupiah and bond markets”. According to rumors, the Reserve Bank of India also sold dollars after the rupee fell below 48 per dollar for the first time since 2009. The Asian Development Bank cut today […]
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September 142011
Yen Gains as China Imposes Conditions on Help to Europe
The Japanese yen advanced today against most major currencies as China set conditions for their aid to the indebted nations of the European Union. Chinaâs Premier Minister Wen Jiabao said developed nations should cut their budget deficits and concentrate on job creation, instead of hoping China can bailout the whole world economy. Wen stated: Countries must first put their own houses in order. He added the Asian nation […]
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September 142011
European Leaders Work on Resolution for Crisis, EUR/USD Rises
EUR/USD rebounded from the earlier decline today on the speculation the European leaders are working toward resolution of the debt crisis and may reach success. The currency pair was rising today, corrected by 12:45 GMT, but currently resumed its advance. Today there was plenty of data from the US, but nothing particularly impressive. PPI was unchanged (0.0% change) in August, following the increase by 0.2% in July. That’s good news […]
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September 142011
Stocks & Crude Oil Add Strength to Loonie
The Canadian dollar rose today as stocks advanced and crude oil gained, reducing risk aversion on Forex market and improving prospects for growth-related currencies. The pessimistic outlook on markets receded somewhat. Most economists believe that it’s not for long and very soon riskier assets will again feel the weight of the pessimism, but for now traders again inclined to risk. Some analysts think that the current strength of the loonie (the nickname of the Canadian currency) […]
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