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Day: March 8, 2012
March 82012
Canadian Dollar Jumps as BoC Maintains Rate, Sees Signs of Stabilization
The Canadian dollar advanced today versus the US dollar and the Japanese yen, rising for the second day, after the Canada’s central bank maintained its overnight rate at the previous level. The currency was down against the euro. The Bank of Canada kept its target interest rate at 1 percent, a decision expected by analysts. The BoC is just one of many banks that maintained their monetary policy and it may be considered a sign […]
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March 82012
ECB News Helps Euro in Forex Trading
The European Central Bank announced that it will keep its benchmark interest rate at 1% today. On top of that, the ECB unexpectedly announced that it is raising the inflation projection for the eurozone. The news has been greeted with optimism about the 17-currency region, and the euro is gaining against the US dollar and other major currencies. Previously, the ECB had expected eurozone growth for 2012 to be between -0.4 percent […]
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March 82012
UK Pound Gains against the US Dollar
The UK pound is rising against the US dollar, enjoying gains not seen for more than a week. The latest interest rate decision by the Bank of England is to keep it the same. Additionally, the Bank of England is going to keep its debt-purchase program on hold for now. The news that the Bank of England doesn’t feel it needs to continue with its quantitative easing program is welcome to many Forex traders, and is […]
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March 82012
NZ Dollar Jumps for Second Day as RBNZ Decides to Leave Key Rate Unchanged
The New Zealand dollar jumped today, rising for a second day, after the New Zealand central bank kept its main interest rate unchanged yesterday and signaled that it may leave the rate relatively low for some time. The Reserve Bank of New Zealand kept its Official Cash Rate (OCR) at 2.5 percent. Reserve Bank Governor Alan Bollard explained: Inflation has settled near the middle of the Bankâs target […]
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March 82012
South Korean Won Rises After Central Bank Maintains Interest Rates
The South Korean won rose today after Korea’s central bank kept its main interest rate unchanged as the negative impact of the eurozone crisis was balanced by rising fuel prices that were adding an upside risk for inflation. The Bank of Korea kept its Base Rate (key interest rate) at 3.25 percent. The bank said in its statement that the nation’s economic growth avoided slowdown and that: The Committee anticipates that […]
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March 82012
Will Norges Bank Stop Cutting Interest Rates? Traders Hope So, NOK Rallies
The Norwegian krone continued to rally today, following yesterday’s gains, on the speculation that the nation’s central bank will end its interest rate cuts as the Norwegian economy demonstrates positive developments. Norway’s economy is improving as crude oil prices rallies. Unemployment dropped, consumer confidence improved and manufacturing expanded. The positive fundamentals allowed economists speculate that Norges Bank Governor Oeystein Olsen will keep the main interest rate […]
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March 82012
Canadian Dollar Rises Ahead of BoC Monetary Policy Meeting
The Canadian dollar rose yesterday and is keeping its gains today as analysts predict that Canada’s central bank will keep its main interest rate unchanged at today’s monetary policy meeting. The Bank of Canada is expected to maintain its key overnight rate at 1 percent as the current state of Canada’s economy looks good enough to keep the rate at the current level. Certainly, there are some negative data, like […]
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