News – Page 1092

February 5
2009

New Zealand Dollar Corrects vs. All Majors

The New Zealand dollar went up against all other major currencies today as the countrys jobless report wasnt as bad as some traders expected and the kiwi needed to correct after some of its greatest losses. The report regarding the unemployment rate in the fourth quarter in New Zealand was released late yesterday at 21:45 GMT. It showed that the unemployment rate climbed to 4.6 percent from 4.2 percent, while some […]

February 4
2009

Indian Rupee Gains on Global Optimism

The Indian rupee rose at the fastest pace in a week today as the revival of the global stock markets restored the optimism of the traders that the foreign investors will return to Indian, buying the local assets with the local currency. The involvement of the foreign investors into the Indian stock exchange during the last trading session exceeded the presence detected during […]

February 3
2009

Australian Dollar Grows after Rate Cut

The Australian dollar gained today against the other currencies on the Forex market after the countrys central bank cut the interest rate to the lowest level in decades and the government announced a stimulus package for the economy. The Reserve Bank of Australia decreased the policy interest rate from 4.25 percent to 3.25 percent today — the lowest level since 1964. In addition, the government announced […]

February 2
2009

Euro Falls as Traders Lean to Safety

The euro declined today against the Japanese yen as the traders sold the risky assets and moved to the «safe cash» after the Asian stock markets tumbled today; investors also expect that the inflation report in Eurozone will add more space for ECB to cut the interest rate. Against the U.S. dollar the European currency showed a significant decline during […]

January 31
2009

Korean Won Leads Asian Currencies Decline

The South Korean won was the worst-performing currency among the Asian ones this month as the investors moved out of the countrys assets and the exports to the developed economies fell sharply. The drop of the Korean won against the U.S. dollar is already at 8.7 percent this year — thats the worst January performance for this currency. The Asian shares tumble as the demand and […]

January 30
2009

Yen Grows against High-Yielders

The Japanese yen is currently positioned as the locomotive of growth on the Forex market as the global economic slowdown takes its toll, keeping the traders and investors away from the risk-ridden high-yielding currencies. Despite the great problems with the economic situation in the home countries of the so called «safe haven» currencies, the traders expectations for the deepening of the recession in all the […]

January 29
2009

New Zealand Dollar Falls on Rate Cut

The New Zealand currency declined against the U.S. dollar, the yen and its Australian counterpart today after the countrys central bank decided to cut the interest rate to a record low amidst the raging recession. The Reserve Bank of New Zealand reduced the official cash rate (OCR) to 3.5 percent down from 5 percent. The same 1.5 percent cut was conducted also on December 4. Analysts […]

January 28
2009

Dollar Falls on Banks Support Expectations

The U.S. dollar along with the yen declined against almost all other major currencies today as the traders expect that the bank bailout plan will be adopted soon in the United States. The dollar declined also because the Federal Reserve will end its two-day meeting today and will probably announce some additional measures to ease the credit conditions, providing […]

January 27
2009

Rupee Opens Higher Today on Stocks Revival

The Indian rupee advanced against the U.S. dollar during the Forex trading session opening today as the stock markets showed some strength world-wide and the investors used the short-term opportunity to enter the high-risk assets. Almost 3 percent growth of the Bombay Stock Exchange Sensitive Index (SENSEX) was accompanied by the news from the Reserve Bank of India Governor Duvvuri Subbarao — […]

January 26
2009

NZD Falls as Service Industry Contracts

The New Zealand dollar declined against the U.S. and Australian currencies today as the countrys services industry continued to decline for a ninth month in a row last December, according the Performance of Services Index that was released yesterday. The index of the service industry was reported at 48.0 for December — up from 47.3 in November; but the reading below 50 means a contraction in all of the countrys service sectors. The report […]