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Author: admin_mm
January 212008
Japanese Yen Gains Sharply against Euro, Pound
Japanese yen is gaining against all its rivals today, as the stocks fall down and the high-risk currencies start to meet their demise. While traditional carry trade counterparts of yen — Australian and New Zealand dollars, are often unstable during such times, the less risky euro and Great Britain pound are also losing now. The euro has already reached its lowest minimum since 22nd of August, 2007, […]
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January 202008
ECB Should Prefer Inflation Fighting
The European Central Bank council member and the governor of the Bank of Italy, Mario Draghi said yesterday that the monetary policy should be tightened in case the inflation in Eurozone will start to cross the target borders. While many investors debate whether ECB will prefer fighting the economy growth slowdown or the consumer prices […]
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January 192008
South Korean Won Declined This Week
Almost all Asian currencies, especially high-yielding ones, took a massive hit this week, with the highest drops being near the end of the week. South Korean won has posted the largest weekly decline in almost two months. On Thursday South Korea’s won reached its minimum value against the U.S. dollar since August 2007 and then […]
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January 192008
Forex Technical Analysis for 01/2101/25 Week
EUR/USD trend: sell.GBP/USD trend: sell.USD/JPY trend: sell.EUR/JPY trend: sell. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4167 1.4378 1.4499 1.4710 1.4831 1.5042 1.5163 GBP/USD 1.9169 1.9340 1.9447 1.9618 1.9725 1.9896 2.0003 USD/JPY 102.49 104.20 105.53 107.24 108.57 110.28 111.61 EUR/JPY 148.20 151.94 154.07 157.81 […]
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January 182008
Chilean Peso Gains on Interest Rate Increases Speculation
Chilean peso gained yesterday against other currencies, notably against the U.S. dollar, after the Central Bank of Chile President, José de Gregorio, commented that the bank will have to increase rates again on the next meeting. Now there are two expected events that are supporting Chilean peso on Forex. First one is the expected rate […]
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January 182008
EUR/USD Down for 4th Day
Euro is dropping down against the U.S. dollar for the fourth day in a row now. Declining stock markets force traders to cash out into dollars, increasing the demand for them. Today’s fall is minimal (less than 20 pips), but still keeps euro from rising and dominating over the dollar as it has been doing in 2007. Leading indicators in U.S. released by the Conference Board showed a decrease in December by 0.2% […]
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January 172008
Dollar Still Weak Against Yen
The U.S. dollar, even after a recovery from the two and a half year bottom against the Japanese yen, is remaining weak against this Asian currency as the investors worry about the current state of the U.S. economy. Currently the dollar is trading at 106.74 which is above the yesterday’s minimum of 105.92, but below the today’s open price of 107.62 on USD/JPY. Jun Kitazawa, head of the foreign exchange division of Brown Brothers Harriman Investment […]
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January 172008
Euro Tries to Regain Yesterday Loss
Euro tries to reclaim the pips it lost yesterday during one of the strongest falls of the recent days. Yesterday EUR/USD lost 152 pips or more than 1% of its rate. Today only a small recovering is seen with no more than 30 pips trailback, which can be easily accounted to the technical correction. Overall picture of the EUR/USD daily chart more and more reassembles the “head and shoulders” pattern. Some […]
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January 162008
Euro Down Fastest Since December
EUR/USD unexpectedly fell today after the moderate fundamental statistics were released in the United States. This currency pair declined from 1.4803 opening price to 1.4656 making it the largest daily drop for EUR/USD since December 14. CPI (Consumer Price Index) in December showed a better than expected growth, increasing by 0.3% — still lower than in previous month (0.8%), but above the forecasted 0.2%. Net foreign purchases […]
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January 162008
GCC Countries May Revalue Currencies by End of 2008
Financial experts from the Standard CharteredStandard Chartered expect a coordinated scrapping of the peg to the U.S. dollar from the monetary authorities of the Middle Eastern countries – Saudi Arabia, U.A.E., Qatar, Oman and Bahrain. Kuwait, the only GCC country that tied its currency to euro and pound in addition to dollar (back in May […]
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