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Day: October 5, 2011
October 52011
Brazil’s Real Gains as Central Bank Plans Support Currency
The Brazilian real advanced today amid the speculation the Federal Reserve and the European Central Bank are ready to meet the economic challenges and support the global recovery, while Brazil’s central bank is going to stem losses of the Brazilian currency. The newspaper Valor Economico wrote that Brazil’s central bank thin the nation’s currency shouldn’t fall against the dollar faster than other emerging-market currencies. The central bank auctioned currency swaps contracts […]
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October 52011
Stocks’ Rally Troubles Dollar, Employment Improves in US
The US dollar weakened today as the rally of stocks reduced demand for safer currencies. Forex traders remained wary, though, as there are still many signs of possible double-dip recession. The speculation that the European Central Bank is able to support the troubled economy of the European Union, especially the economies of the most-indebted nations, helped to revive risk appetite on markets and boosted equities. The Standard & Poorâs 500 Index rose 1.2 percent. The ECB […]
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October 52011
Is the Bank of England Ready for QE2?
While, in America, the talk is all about the likelihood of QE3, in Britain, the Bank of England is mulling QE2. Indeed, this Thursday, when the interest rate decision is announced, many expect that an announcement of an increase in asset purchases will accompany it. There is little the Bank of England can do in terms of lower rates further, since the base rate is already at 0.50%. So, in order to stimulate the economy, BoE […]
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October 52011
Economic Growth Stalls in Britain, Pound Feels Pressure
The Great Britain pound retreated today as the government report showed Britain’s economy grew with slower pace than was previously estimated, fueling concerns the UK isn’t able to survive without additional stimulus. The growth of Britain’s gross domestic product in the first quarter was revised from 0.2 percent to 0.1 percent. The growth in the second quarter was also revised down, 0.4 percent instead of previously estimated 0.5 percent. […]
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October 52011
Ringgit Gains as Fed Stimulus Can Boost Exports
The Asian currencies, led by the Malaysian ringgit, gained today on the speculation that the Federal Reserve will boost stimulus to the US economy, improving prospect for Asia’s exports. Fed Chairman Ben Bernanke testified yesterday, speaking about the problems that the economic recovery has encountered. He said: Recent revisions of government economic data show the recession as having been even deeper, and the recovery weaker, than previously estimated; indeed, by the second quarter […]
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October 52011
Employment in US Improves, Dollar Feels Better
EUR/USD declined today as the positive ADP employment report made Forex traders hope the non-farm payrolls (released later this week) would be good. The services sector of the United States continued its expansion in September with almost the same pace as in the month before. Federal Reserve Chairman Ben Bernanke testified yesterday, speaking about problems that the economic recovery has encountered. ADP employment report showed an improvement of the US […]
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