News – Page 1086

April 24
2009

Malaysian Economic Stimulus Pushes Ringgit Up

The Malaysian ringgit is topping the gains list among Asian currencies, followed by the Singaporean dollar, thanks to the government stimulus and interest rate cuts. The ringgit rose all week against Asian currencies, on speculations that the Bank Negara Malaysia, the national economic policy maker, is expected to cut interest rates after inflation had the most significant decline in 11 months. Interest rates […]

April 24
2009

Pound Falls on Pessimist Moody’s Declaration

The Moodys Investors Service declarations that finances would be deteriorating in Britain brought the pound further down against the yen and the euro. The pound failed to recover against major currencies after negative domestic statements that the government is taking risks managing wrongly a financial system on the brink of collapse. The euro had consistent gains against the pound with improved confidence reports from Germany and France, making the pound unable to react and creating a perfect bulling […]

April 23
2009

Euro Strengthens on Positive Economic Reports

The dollar and the yen lost ground against the euro, as an index of services and industrial production in Europe showed better than estimate numbers, creating speculations of an economic recovery in the Eurozone. An index combining services and industrial numbers in the Eurozone rose from 38.3 in March to 40.5 in the last report, which was significantly more than what economists were expecting. After breaking multiple record lows, […]

April 23
2009

New Zealand Dollar Rises On Credit Improvement Speculations

The New Zealand and the Australian dollar went up as rumors about a credit market recover spread amid investors this Thursday. After a substantial drop during the beginning of the week, the kiwi and the Aussie reversed their trends as the Credit Suisse Group AG, a leading credit provider in the financial sector, reported earnings during the first quarter. The main economies in Oceania […]

April 22
2009

Yen Rises on Deepening Crisis Speculations

The yen had a significant rise today against major currencies, rumors that losses in the U.S. banks will go further brought investors to buy Japanese assets, considered a «safe harbor» from the global crisis. A part from the international news, a domestic report showing that exports are decreasing at a slower pace improved the optimism even further in Japan, since for 4 months in a row, the exports […]

April 22
2009

Korean Won Rises On Optimistic Declarations

After 3 days of sequential losses, the South Korean won had its first session of gains as the American Treasury Secretary Timothy Geithner affirmed that most banks in the U.S. have «enough capital», causing a rally in assets from emerging countries. This week didnt necessarily start as a satisfactory one for KRW traders, with China failing to recover its GDP growth and after the Bank of America […]

April 21
2009

Australian Dollar Hits 3-Week Low on American Financial Concerns

Speculations that U.S. banks losses may increase moved the Australian dollar to a level very close to the lowest in 3 weeks. After the Bank of America Corp. increased its future loan loss provisions 57% to $13.4 billion, the Aussie and the New Zealand dollar, being both high-yielding currencies, immediately feel, as negative numbers coming from the U.S. increase the concerns about the global crisis […]

April 21
2009

Yen Falls On Trade Report Speculations

After 3 days of gains, the Japanese currency weakened against the dollar and the euro before an eventual trade deficit that may be reported by the government for the last month period. The Japanese currency had consistently risen against the euro during the past five weeks, and as the traders realized it could be overbought, it was the perfect timing for making profits, since the Japanese government will release a report that is very likely to contain negative trade numbers for the past month […]

April 20
2009

Euro Continues to Fall on ECB Policy Disagreement

The euro weakened against the yen and slid to a one-month low against the U.S. dollar as the ECB policy makers are failing to reach a consensus to fight the growing recession in the bloc. For the first time in a month, the euro crossed the 1.30$ resistance line and this slide could also be […]

April 20
2009

Pounds Weakens on Pessimism Regarding British Economy

The Confederation of British Industry is expecting the economy to contract even further than previous forecasts, such pessimism brought the pound to a one-week low against the greenback. Several reasons also brought the pound sterling down this Monday against the euro, yen, and the Swiss franc. A drop on bank shares combined with the CBIs catastrophic expectation that the British GDP will decrease […]