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Day: October 26, 2011
October 262011
Can Australian Dollar Drop Further?
The inflation report that showed a slowing inflation weakened the Australian dollar. But will the currency extend its drop? That’s a definite possibility in case the central bank would cut the interest rate next month. The inflation rose 0.6 percent in the third quarter, slower than in the third quarter (0.9 percent), but such slowdown was expected. The trimmed mean inflation (it’s similar to core inflation in other countries) advanced only […]
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October 262011
GBP/USD Falls as Risk Aversion Rules Market
The Great Britain pound declined today versus the US dollar as the uncertainty about the outcome of the European Union summit made traders prefer safer currencies, shunning the sterling that is also weakened by the problems in Britain itself. The leaders of the EU are meeting today at the summit to discuss the problems of the region. Among the discussed issues is the voluntary participation of banks in rescuing Greece and other indebted economies, though rumors say a forced involvement isn’t […]
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October 262011
US Dollar Strengthens on Lowered Eurozone Expectations
US dollar is strengthening after showing some softness earlier today. Euro strengthened on some hopes for the EU summit underway, but, as expectations become lowered regarding the outcome of the meeting, euro is losing ground. Concerns about whether eurozone countries can agree on a solution to the sovereign debt crisis threatening the survival of the eurozone as it is presently constituted — and possibly the euro itself — are undermining some of the earlier […]
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October 262011
Ruble Slides Before EU Summit
The Russian ruble dropped today as the nation’s main oil export blend retreated ahead of the European Union leaders meeting, reducing attractiveness of Russia’s currency. The export driven economy of Russia depends on commodities and oil is the major revenue earner. Russia’s economy looks good at present as Deputy Economy Minister Andrei Klepach said the countryâs gross domestic product expanded 5.1 percent in the third quarter of this year. Today’s European Union […]
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October 262011
Euro Higher as World Awaits Summit Outcome
Euro is higher today as the world awaits the outcome of the EU summit. There are hopes that leaders — especially from France and Germany — will be able to present a practical plan to contain the sovereign debt crisis. Expectations for a full-fledged solution have been scaled back, although there are at least some hopes that something will be announced that means a solution is coming. For now, though, that’s […]
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October 262011
EUR/USD Drops After EU Summit Started
EUR/USD fell today, while earlier it was moving sideways as traders waited for the outcome of today’s European Union summit. The drop was sharp and its cause is unclear. Today’s data about the US housing market contradicted yesterday’s report as it showed an improvement instead of worsening conditions. Durable goods orders decreased 0.8% in September, following the drop by 0.1% in August. The forecasts were near the actual value, predicting a 0.7% […]
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October 262011
Forex Broker with CFD Specialization — ProCFD
A new Forex broker with an extensive choice of CFD contracts was added to EarnForex.com today, this time from Belize. It’s ProCFD — a new retail trading company that offers trading via Visual Chart 5 trading platform and its Java edition. It’s an advanced trading platform, which, like MetaTrader, offers advanced tools of trading automation. Traders can open real accounts starting with $100 and trade […]
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October 262011
Inflation Slows in Australia, AUD Drops for Second Day
The Australian dollar today extended its drop for the second day after the government report showed the inflation slowed in the third quarter of this year. The Australian consumer price index fell to 0.6 percent in the third quarter from 0.9 percent in the second quarter. The leading index declined 0.1 percent. The fundamentals confirmed the economic slowdown and reinforced the prospects for an interest rate cut by the central bank. AUD/USD fell from 1.0426 to 1.0367 as of 5:22 GMT […]
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October 262011
Pound Fluctuates vs. Safer Currencies on Dangers to Economy
The Great Britain pound fluctuated against the safer currencies on the concerns about the stalling nation’s economy. The sterling performed better against the dollar and the yen, while was struggling against the franc. The fundamentals were mixed for the economy and the currency of the United Kingdom. On one hand, the UK trade balance deficit shrank to £2.0 billion in the second quarter down from £4.1 billion in the first quarter, while analysts expected it reach £9.7 billion. On the other […]
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