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Day: March 11, 2013
March 112013
Indian Rupee Falls on Concerns About Current Account Shortage
The Indian rupee fell today on concerns that a decrease of foreign capital inflows will lead to widening of the country’s current account deficit, which is already at the record level. Market participants are concerned that the gap, which on an annual basis was at the record 4.2 percent of gross domestic product a year ago, may climb much higher this year in case inflows of foreign capital dry up. Global funds added […]
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March 112013
Aussie Weakened by Chinese Industrial Production, Losses Limited
The Australian dollar fell against its US counterpart as China’s industrial production demonstrated the slowest start of a year since 2009. The Aussie almost erased its gains versus the greenback as of now and advanced against the Japanese yen. Chinese industrial output increase 9.9 percent in the first two months from a year ago, according to the National Bureau of Statistics. Analysts have hoped for an increased by 10.4 percent. The Australian currency dipped on this report, […]
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March 112013
Loonie Gets Boost from Jobs Report
Better than expected employment data is helping the Canadian dollar today, sending the loonie higher against its major counterparts. The surprise economic data is boosting Canadian dollar, and providing hope that economic weakness will not persist. Canada added a surprising 50,700 jobs to the economy in February, more than double what some analysts were expecting. On top of that, according to Statistics Canada, industrial companies used […]
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March 112013
UK Pound Struggles on Outlook
The UK pound outlook continues to be a sore point. Outlook is weaker for the sterling, with continued economic troubles predicted, and more stimulus expected. Just about every aspect of the UK economy is showing deterioration right now. Growth is expected to remain sluggish, and the Bank of England is expected to continue stimulus efforts. While the asset buying program remains unchanged for now, many Forex traders and analysts expected more […]
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March 112013
When Will Fed Start Raising Interest Rates?
The current Quantitative Easing policy conducted by the US Federal Reserve consists of two parts — asset-purchase program (where Fed buys mortgage-backed securities and long-term US Treasury notes) and exceptionally low interest rates (a range between 0% and 0.25%). As becomes evident from looking at the US GDP and employment numbers progression since mid-2009, Bernanke‘s strategy works quite well: But what is important to many currency traders is when […]
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