News – Page 1094

January 9
2009

Korean Won Declines on Rate Cut

The South Korean won continued to decline against the U.S. dollar today almost completing a third week of drop as the countrys central bank reduced the interest rate to the record low value. The decline in the global stock markets also helped the won to come down against the other currencies. Traders move out their investments from the Korean economy in fear of the recession. […]

January 8
2009

AUD, NZD Down on Aroused Risk Aversion

The Australian and New Zealand dollars both showed a second day of decline today on the Forex market as the stocks, commodities and the confidence in the fast recovery from the recession fell world-wide. Both currencies have been showing a nice daily rally against the U.S. dollar and the Japanese yen until they began to go down yesterday, almost paring the gains of the […]

January 6
2009

Euro at 3-Week Low vs. Dollar on Low Inflation

The European single currency bottomed near the 3-week low against the U.S. dollar and significantly fell against the Japanese yen and the British pound today as the investors expect further rate cuts from the European Central Bank. There are two factors for the euros current weakness that the analysts name as the main — the new proposed stimulus plan […]

January 5
2009

Canadian Dollar Rises as Oil Shows Strength

The Canadian dollar rose against the 3 other major currencies today, completely reversing the daily trend, as the oil and commodity markets become more attractive after the holidays. Today the loonie (another name for the Canadian currency) is growing for the third day against the Japanese yen and the Euro and for the second day against the U.S. […]

December 30
2008

Dollar Declines on Oil Shortage Expectations

The U.S. dollar began todays trading session with a rather strong decline against the euro, after posting a significant gain yesterday, as the investors expect the oil prices to surge on the Middle East conflict. The European currency is the best performer in the Forex market currently. It lacks the dependence on the oil, unlike the U.S. dollar; it also has the highest interest rate among […]

December 29
2008

Dollar Falls on Fears That Recession Deepens

The U.S. dollar declined today against the other major currencies and especially against the euro as the traders expect weak macroeconomic reports to continue coming out from the United States, showing that the worlds biggest economy is in the worst situation of all the developed countries. The instability factor in the Middle East with the conflict raging between Israel and Hamas in the […]

December 26
2008

Russiaâs Ruble Hits New Bottoms

The Russian ruble declined to the new record low level against the euro and the 2-year low against the U.S. dollar today as the countrys central bank allowed further depreciation of the ruble to stimulate the exporters. The Bank of Russia allowed the national currency to devalue by about 1 percent against the euro-dollar benchmark basket for the 11th time since November 11 today. The ruble fell about 1.3 percent against the euro and 1.1 against the U.S. dollar. The total loss against the dollar is 24.6 percent since […]

December 24
2008

Uncertainty Rules, Yen Grows

The Japanese yen gained against its major currency counterparts on the global Forex market today as the stocks fell and the demand for the Japans currency rose. The last working day for the markets before the Christmas shows some elevated volatility compared to the last two days — the dollar is falling on the bad expectations for the macroeconomic reports. The yen […]

December 23
2008

Canadian Dollar Declines for Fourth Day

The Canadian dollar declined today against its U.S. counterpart for the fourth straight day as the oil prices continued to fall globally. Following the expiration of the January crude oil futures the price has briefly went up but then continued to decline as the traders expect that the demand will shrink faster than the OPEC cuts its real output. Canada isnt a member of OPEC but the oil constitutes about 10 percent of its exports. The Canadian dollar, […]

December 22
2008

Pound Down vs. Euro, Dollar, Yen

The British pound fell against the other major currencies today, most notably against the euro, as the market participant expect that the Bank of England will continue reducing the interest rates for the U.K. banks. Not only the expectations for the lower interest rates press on the pound, but also the commentaries by the monetary officials, stating that the […]