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Day: February 9, 2012
February 92012
Rand Falls as Manufacturing Deteriorates
The South African rand declined today as nation’s factory output slowed and before President Jacob Zuma will address lawmakers in his speech in Cape Town today. Manufacturing, which accounts for 15 percent of South Africa’s gross domestic product, rose 2.4 percent on an annual basis in December. That’s below the November reading of 2.8 percent and analysts’ forecast of 2.6 percent. Manufacturing output of Africa’s biggest economy was hurt by the crisis […]
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February 92012
Japanese Yen Drops on Excitement over Greek Debt Deal
Japanese yen is dropping today as Forex traders become excited over the Greek debt deal. Yen is falling as risk appetite rises and low beta currencies find themselves out of favor. This is good news for Japanese leaders, who prefer to see a weak yen. Greek leaders have agreed to austerity measures that allow a bailout from the ECB and IMF. The news has risk appetite soaring — […]
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February 92012
ECB Monetary Decision & Greek Agreement Lift Euro
The euro rose today after the European Central Bank maintained its interest rates and Greek leaders managed to reach an accord regarding austerity measures that are required to get the next round of rescue. The ECB left its benchmark interest rate at 1 percent at a monetary policy meeting today. Mario Draghi, President of the ECB, said in the statement after the meeting that there are “some tentative signs of a stabilisation in economic activity […]
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February 92012
US Dollar Drops as Risk Appetite Returns on Greek Deal
US dollar index is lower today, heading down on risk appetite. A Greek debt deal is helping the situation, and Forex traders and investors in various financial markets are feeling better about taking a few more risks in order to invest in higher yielding assets. Mario Draghi, the president of the European Central Bank confirmed earlier that Greek policymakers, led by Prime Minister Lucas Papademos, have agreed to an austerity package. […]
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February 92012
Pound Keeps Gains After BoE Boosts Asset Purchases
The Great Britain pound gained today and remained strong after the Bank of England kept its main interest rate unchanged and boosted the asset purchase program as the UK economy continued to weaken. The BoE kept its key interest rate at 0.5 percent, but increased its program of asset purchases by £50 billion to a total of £325 billion. The Bank said in the statement after the monetary decision: In the United Kingdom, the underlying pace of recovery slowed […]
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February 92012
Broker Review System Update
I am happy to announce that EarnForex.com has recently improved its Forex broker review system. The new update will allow traders to share their opinion more easily, while the readers will be able to find more credible reviews. There are the following changes to how reviews work: Positive and negative reviews are now easier to spot in the whole review feed of the given broker. Reviewers may provide the number […]
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February 92012
EUR/USD Up as Greek Leaders Reach Agreement
EUR/USD rose today after European Central Bank President Marion Draghi announced that Greek party leaders reached an agreement about austerity measures required to receive the next portion of bailout. Earlier, Greeceâs Prime Minister Lucas Papademos stated that Greek politicians haven’t been able to reach an accord about pension cuts. The US employment market continued to show positive developments today as unemployment claims continued to fall. […]
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February 92012
Euro Falls as Greek Politicians Disagree on Austerity
The euro fell against the US dollar and slipped versus the Japanese yen before rebounding as Greek politicians were unable to reach an agreement about austerity measures required to secure a next portion of bailout. Greece’s Prime Minister Lucas Papademos was meeting with leaders of Greek political parties yesterday to discuss tightening measured that the so-called troika (the EU, the ECB and the IMF) demanded from the country in exchange for rescue. Papademos said that […]
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