News – Page 1091

February 19
2009

AUD Gains for 2nd Day as Confidence Grows

The Australian dollar showed the second day of growth against the U.S. dollar and the Japanese yen today as the traders feel a growing confidence in the Australian economy after the much-needed stimulus package has been adopted there. The strategists from Commonwealth Bank of Australia recommend buying the Aussie against the dollar, the euro and the yen, stating that it will […]

February 18
2009

Euro Recovers From Yesterday Losses

The euro posted a moderate daily gain against the other major currencies today after some regional banks reported not-so-bad results for the fourth quarter of 2008. Among the banks that surprised the market analysts were the German Commerzbank AG and the Dutch ING Groep NV. Both of them reported lesser losses for the last quarter than the average estimates […]

February 17
2009

Euro Weakens before ZEW Survey

The European single currency reached its lowest level against the dollar since the early December as the Forex traders expect that the ZEW Survey report will show that the Eurozones business confidence is at the very low levels today. There are also expectations that the credit rating of several big European banks may get downgraded soon on the concerns that their […]

February 16
2009

USD/KRW Approaches 2-Month High

The South Korean won declined to almost two-month low level against the U.S. dollar today as the global economic crisis worsened, prompting investors to sell the emerging markets assets. Since January 1st until today the Korean currency has fallen 11 percent versus the dollar, showing one of the worst results among the most-traded Asian currencies. The Japanese economy slid by 12.7 percent […]

February 13
2009

Pound Bounces Up on Stock Market Growth

The British pound showed the first daily gain today after three consecutive losses against the U.S. dollar as the countrys stock market showed an unexpected growth. The pound sterling also rose against the Japanese yen — for the first day this week after the FTSE 100 (the Britians stock market benchmark index) went up by more than 1.5 percent during the early trading session. […]

February 12
2009

AUD Falls as Stimulus Plan is Rejected

The Australian dollar declined against the U.S. dollar, the Japanese yen and the euro today as the countrys senate refused to adopt the Prime Ministers stimulus package worth of $27.4 billion. The Aussie has been growing recently after Kevin Rudd proposed fiscal and liquidity measures that would cost the budget A$42 billion but would gradually help the economy to recover. Traders were confident […]

February 11
2009

British Pound Drops Before Reports

The Great Britain pound continued to fall against the other major currencies today as the traders expect the negative results from the jobs and inflation reports today. The pound is currently falling for the second day against the dollar and the euro and for the third against the yen. Market participants expect that the Bank of England Inflation Report […]

February 10
2009

Euro Falls on Europe’s Troubles Worsening

The euro fell against the U.S. dollar and other major currencies, except the pound, as the Russian banks are waiting from their government to negotiate the $400 billion of loans with their mostly European creditors. The Forex market reacted to such news as to a signal that the problems in the European region are only getting bigger these days and moved to the safer assets […]

February 9
2009

Yen Rises on Risk Appetite Decline

The Japanese yen rose by the most in February against the U.S. dollar and posted the considerable gains versus the euro and the pound as the investors and traders became less confident in the U.S. stimulus plans and were reluctant to buying anything else than the yen or the greenback. The recent uprise of the yen-based currency pairs was connected to the global […]

February 6
2009

AUD Grows on Possible Rate Bottom

The Australian dollar is currently heading for a first weekly gain against the U.S. dollar this year as the traders believe that the bottom in the interest rates is near and the countrys economy will begin recovering soon with the help of the governments stimuli. The Aussie grew for a third day in a week after the Reserve Bank of Australia signaled that the fiscal measures combined […]