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Day: July 22, 2013
July 222013
Can Australian Dollar Maintain Rally for One More Week?
The Australian dollar had rather nice rally last week. Can it keep gains this week or even move higher? Analysts disagree on this matter. There are not many important events over the week, therefore the reasons for the Aussieâs rally should remain in place. The most important of them is Ben Bernankeâs testimony that made investors less concerned about possible trimming of Federal Reserveâs stimulus and more […]
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July 222013
PBoC Removes Floor on Lending Rates, Yuan Down
China’s policy makers made a move to liberalize the economy by removing floor on lending rates, a measure that was welcomed by market participants. Still, the Chinese yuan was weaker today. The People Bank of China removed the floor on lending rates that was previously set on 30 percent below the benchmark rate. Such reform should improve the banking system and encourage economic growth. Not everything was positive today though as the Asian […]
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July 222013
Franc Rises Even as Jordan Says Currency Ceiling Remains in Place
The Swiss franc gained today even after Swiss National Bank President Thomas Jordan said that the cap on the currency will remain in place as the economy is not healthy enough to tolerate stronger franc. Jordan said during the Group of Twenty meeting on the weekend: We will maintain our current policy for as long as necessary. This monetary policy stance is needed to act within our mandate. He added that […]
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July 222013
Japanese Yen’s Current Gains Probably Temporary
Japanese yen is heading higher today, bouncing following a drop accompanying the latest Japanese election. With Shinzo Abe confirmed in the Prime Minister spot, it appears as though there is a stamp of approval for further measures that are likely to result in more weakness for the yen. After a few years of political turmoil, the fact that Shinzo Abe remains the Prime Minister of Japan is a victory for some sort of political stability. […]
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July 222013
Euro Gains Against Dollar, Even as Eurozone Debt Swells
Euro is higher against the US dollar today, even with the swelling eurozone debt. However, the greenback is one of the very few major currencies that the euro is gaining against. When compared to other major currencies, the euro is losing ground. The latest eurozone debt information released by Eurostat indicates that government debt is swelling in the 17-nation currency region. The state debt in the euro region rose to 92.2 […]
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