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Day: September 16, 2011
September 162011
NZD Gains as RBNZ Shows Optimism for New Zealand Economy
The New Zealand dollar jumped today after the Reserve Bank of New Zealand maintained its interest rates yesterday and signaled that the good health of the nation’s economy can lead to higher rates in the future. The RBNZ held the Official Cash Rate (OCR) unchanged at 2.5 percent yesterday. The central bank explained that “the New Zealand economy has performed relatively well”. Yet the outlook for the global economy, including the markets of the main nation’s […]
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September 162011
Aussie Rises on Asian Stocks, Heads to Weekly Loss
The Australian dollar advanced today against the US dollar and the euro as the Asian stocks climbed, but the currency is still heading to a weekly decline as concerns about the European economy sapped appeal of higher-yielding currencies. The MSCI Asia Pacific Index of shares climbed 2.1 percent, while the MSCI World Index jumped 2.1 percent yesterday. Investors bet that Reserve Bank of Australia Governor Glenn Stevens will cut the interest rates […]
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September 162011
Rand Falls as Investors Shun South African Bonds
The South African rand dropped today as the optimism about the European banking system quickly waned, spurring investors to draw money out of riskier assets. The global funds sold $1.4 billion of South African bonds on September 13 and 14. That’s the biggest two-day selling since October 2008. Economists are concerned that the selling can lead to higher current account deficit in South Africa as the current account was finance for the most […]
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September 162011
Optimism About Europe Wanes, EUR/USD Down
EUR/USD reversed its rally today on concerns the European leaders won’t be able to contain the debt crisis. The European Union finance ministers meet today in Wroclaw, Poland. Finlandâs Finance Minister Jutta Urpilainen said it’s unlikely they reach an agreement about measures necessary to deal with the debt issues. Net foreign purchases of long-term securities were $9.5 billion in July. That’s higher than June reading — […]
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September 162011
Mixed Fundamentals Leave Traders Uncertain, USD Fluctuates
The US dollar fluctuated as the mixed fundamental data left Forex traders uncertain will the US economy face recovery or recession. The currency was falling yesterday, but at the start of today’s trading session the dollar rebounded. There was plenty of good news. The consumer price index rose 0.4 percent in August, compared with the median forecast of 0.2 percent. The current account deficit decreased to $118.0 billion (preliminary) in the second quarter of 2011, […]
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