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Day: February 26, 2013
February 262013
Bank of Israel Leaves Rates Unchanged, Shekel Flat
The Israeli new shekel was little changed today after Bank of Israel left interest rates unchanged yesterday. The currency may yet decline on speculation that the central bank will cut the rate in the near future. The BoI kept the main interest rate at 1.75 percent. The bank said that the shekel had gained about 0.25 percent versus the dollar during February. Forex market participants are worried that the bank […]
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February 262013
Traders Move Away from Riskier Currencies, Including Rupee
The Indian rupee weakened today a bit as the inconclusive outcome of the Italian election made traders worry if the problems of the eurozone will resurface amid political uncertainty. The election in Italy resulted in a divided parliament, exactly the kind of outcome that traders were feared of. This means a second vote may be held. Political tension makes Forex market participants nervous, preferring safe currencies like the dollar and the yen, while abandoning […]
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February 262013
Euro in Consolidation Mode against US Dollar
Euro is currently in consolidation mode against the US dollar, looking to firm up a bit against the greenback. However, the 17-nation currency is struggling a bit on uncertainty, and awaiting the latest remarks from Fed Chair Ben Bernanke.
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February 262013
Oil Prices, Economic Concerns Weigh on Canadian Dollar
Canadian dollar continues to struggle in trading today, logging difficulties as economic conditions continue to cause problems, and as oil prices continue to drag the loonie lower. While the Canadian dollar is mostly flat today, there are still worries about underlying weakness. Loonie is mostly flat against major counterparts today, but it is a flatness toward the downside. The Canadian dollar is down against other major currencies, […]
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February 262013
EUR/USD Pauses Decline After Italian Election
EUR/USD paused its decline after the election in Italy was concluded. The voting resulted in a divided parliament and this is exactly the outcome that made Forex traders scared and willing to sell the euro. Therefore the currency pair may yet resume its drop. In fact, the inconclusive election may spoil the performance of the euro for a long term as the political uncertainty in one of the major economies of the European Union definitely will not do well for the shared […]
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February 262013
Yen Halts Rally, Resumption is Possible
The Japanese yen dropped today as Forex market participants were anticipating more interventions from Japanese policy makers. The currency at present moves upwards and may yet resume its yesterday’s rally. It is rumored that Japanese Prime Minister Shinzo Abe will likely appoint Haruhiko Kuroda as the next Bank of Japan Governor. Kuroda is considered to be more aggressive on interventions than other candidates. Therefore rumors […]
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February 262013
Major Events for USD During This Week
The US dollar gained somewhat against most major currencies last week as risk aversion returned to the Forex market. What traders can expect from the greenback this week and what the major driving factors for the US currency will be? The Federal Reserve was responsible for the last week’s rally as its minutes made traders believe that the central bank may remove stimulus early. Fed Chairman Ben Bernanke will […]
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