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Day: November 16, 2011
November 162011
Chilean Peso Drops After Central Bank Maintains Interest Rates
The Chilean peso went down today even as the nation’s central bank refrained from decreasing interest rates amid concerns about impact of the European crisis on the global economy. Chile’s central bank decided to leave the main interest rate at 5.25 percent yesterday. Chile has the second highest borrowing costs among Latin American nations. The bank wrote: Domestically, output figures are evolving close to projections in the last Monetary Policy […]
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November 162011
EUR/USD Dips Below 1.3500
Earlier, euro saw a bit of a tentative rally in Forex trading, gaining a little ground against the US dollar. Now, though, all of that momentum is gone, and euro is heading lower. Indeed, euro has dipped below the 1.3500 mark, heading down through another psychological barrier as the situation in the eurozone continues to be dire. So far, the installation of Mario Monti as Prime Minister and Finance Minister in Italy hasn’t stemmed […]
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November 162011
GBP Lower on BoE Outlook & Unemployment Rate
The Great Britain pound weakened today as the inflation report showed that outlook of the nation’s central bank is pessimistic, while the unemployment rate rose more than was expected. The unemployment rate increased to 8.3 percent in September from 8.1 percent in the preceding month, while experts predicted a reading of 8.2 percent. The Bank of England said in its inflation report: The outlook for the UK economy has worsened. Global growth has slowed. […]
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November 162011
BOJ Keeps Rate at Virtually Zero
Yen is mostly lower today as risk aversion sets in after a brief glimpse of optimism yesterday. Even though the BOJ has announced that it will keep its benchmark rate practically at zero, there is enough economic concern that the yen remains in demand. Indeed, the BOJ cited a number of growing troubles among the reasons that the interest rate will remain the same. Japanese leaders affected concern over […]
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November 162011
EUR/USD Declines Further, Loses Downward Momentum
EUR/USD extended its downfall today as yield on sovereign bonds of the European Union nations continued to rise. The currency pair is currently rising and has potential to erase its losses. The data from the USA was again good with the exception of the inflation that unexpectedly declined. CPI decreased 0.1% in October on a seasonally adjusted basis, following the 0.3% increase in September. Analysts expected no change. (Event A on the chart.) Net foreign purchases […]
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November 162011
Canada’s Dollar Goes Down as Sentiment Prevails Over Fundamentals
The Canadian dollar extended its decline for the third consecutive session today as the negative market sentiment, caused by the difficult situation in the European Union, outweighed the fundamentals that weren’t all bad. Borrowing costs of French bonds surged to the record and yield on Spanish securities rose at an auction. Europe remains the main drive of the Forex market. And it drives the market to risk aversion, hurting currencies with higher yield and higher risk. The fundamentals don’t look […]
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November 162011
Aussie Extends Decline on Europe for Third Session
The Australian dollar declined today, falling for the third straight session, as the renewed concerns about Europe’s sovereign debt crisis sapped investors’ demand for higher-yield. Yield on the Italian 10-year bonds rose to 7.073 percent yesterday. The 7.0 percent was the level that forced Greece, Ireland and Portugal to seek aid. Spain plans to auction â¬4 billion in bonds tomorrow. The minutes of the Reserve Bank of Australia monetary policy meeting were released yesterday. […]
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