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Day: August 24, 2012
August 242012
Czech Koruna Falls as Traders Believe Interest Rate Cut Coming
The Czech koruna weakened today on speculations that the nation’s central bank would be forced to cut its interest rates amid global economic slowdown that threatens to damage the Czech economy. The data from around the world, including Japan and the European Union, signals about global slowdown that will reduce demand for Czech exports. Investors thought that the central bank has no choice but cut interest rates […]
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August 242012
Zloty Drops as Samaras Talks to Merkel
The Polish zloty fell today amid talks that Greece may fail to convince Germany to allow the next tranche of bailout, damping risk appetite among Forex market participants and reducing demand for currencies of European nation. Greek Prime Minister Antonis Samaras is meeting German Chancellor Angela Merkel today in order to convince the German leader that the indebted nation is able to meet the bailout requirements, at least if more […]
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August 242012
Euro Drops Following Antonis Samaras Meeting with Angela Merkel
Euro is heading lower, dropping as concerns about what’s next for the eurozone rise. Worries about policy decisions in the eurozone are weighing on the 17-nation currency following a meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel. Greek Prime Minister Antonis Samaras reportedly asked for “breathing space” for his embattled country. His comments came as he met with German Chancellor Angela Merkel about […]
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August 242012
Japanese Yen Back in Demand as a Safe Haven
Japanese yen is back in demand as a safe haven as concerns about what’s happening in Europe weigh on high beta currencies. Once again, equities around the world are dropping as investors worry about what’s next for the eurozone. Yen is in demand as Forex traders look for a safer currency. While eurozone concerns are once again driving the currency market, they aren’t the only things weighing on sentiment. Risk aversion is […]
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August 242012
Shekel Gains on Monetary Policy Outlook, Retreats
The Israeli new shekel weakened a little today against the US dollar. Earlier, the currency gained on hopes that central banks would spur economic growth, while the central bank of Israel itself would keep its monetary policy unchanged. The currency rose versus the euro. The global economy is stalling and investors look for central banks to spur growth. Such hopes keep the market mood closer to optimism, but it is […]
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August 242012
Aussie Declines with Stocks & China’s Manufacturing
The Australian dollar fell after global stocks declined and the report showed that China’s manufacturing slowed, causing concerns that demand for country’s exports would wane. The currency suffered from the resulting risk aversion, but there was some good news that may support the Aussie. China’s Flash Manufacturing PMI fell from 49.3 in July to 47.8 in August, the lowest level 9 months, according to the HSBS/Markit report. The Standard […]
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