News – Page 1112

April 30
2008

FOMC Reduces Rate, Hopes for Better

The Federal Reserve lowered the federal funds rate from 2.25% to 2% today during the scheduled meeting of the Federal Open Market Committee, saying that the current measures may be enough to remove the risks. As the majority of the traders expected, FOMC reduced the interest rate for the U.S. financial market by 25 basis points and signaled that, although the current situation on the […]

April 30
2008

Dollar Steady ahead of FOMC Meeting

The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today. According to the interest rate futures, Investors believe that the rate in U.S. will be lowered today by 25 basis points (from 2.25% to 2.00%), but the statement wont be dovish […]

April 28
2008

Pound Rises against Euro, Dollar

The Great Britain pound continued its growth against the euro and the U.S. dollar today, even after the housing prices fell again and the chances fore more interest rate cuts by the Bank of England went up. After some bearish trend movements during the Asian Forex trading session, the pound gained to above the Fridays close rate against the other world currencies. Although, the bond rates grew up in the United Kingdom, the economic situation is now […]

April 26
2008

Singapore Dollar Drops Large This Week

The Singapore currency had its worst week in a year on the Forex market, as it lost along with the other Asian currencies to the U.S. dollar, because the investors began to expect that the U.S. interest rate will unchanged rather than lowered next time. The U. S. dollar rose from its record low bottom against the euro this week and appreciated significantly […]

April 25
2008

Dollar Gains for 3rd Day on Fed Outlook

The U.S. dollar gained against the euro today on Forex market for a third day in a row, as the yesterdays U.S. fundamental data reassured traders that the Federal Reserve will keep the interest rate unchanged on its next week meeting. Dollar was also supported by its strong oversold position on the currency market. After reaching 1.6018 euro/dollar entered the the range where its rate […]

April 24
2008

Indian Rupee Falls on Demand for Dollar

The Indian rupee declined today to its monthly minimum level on the Forex market as the domestic companies had to purchase more U.S. dollars to pay for the imports, including oil. It was the second bearish day for the rupee, which is under pressure from the widening current account deficit (which is a great problem for another Asian currency South Korean won). Imported goods […]

April 23
2008

Aussie Rallies on Q1 CPI Data

The Australian dollar reached a fresh 24-year high against the U.S. dollar today as the consumer prices in Australia soared above the markets expectations in March and are now pressing on the central bank to go for the further interest rate hikes. March CPI was reported at 4.2% (annual rate) highest inflation rate in more than 4 years. The market analysts expected a 4.0% growth rate. On the […]

April 22
2008

Dollar Sinks, EUR/USD Reaches 1.6011

Euro reached a new historical maximum against the U.S. dollar today after another European Central Bank official stated that the bank will be acting thoroughly in order to keep the consumer price inflation rate down. According to Christian Noyer, the ECB is not going to ease the monetary policy because of the strong inflation in Eurozone. And while some European countries vote for a weaker […]

April 22
2008

CAD Down before Central Bank Meeting

The Canadian dollar was falling slightly yesterday and today against the other world currencies as the traders expected the interest rate decision of the Bank of Canada monetary policy meeting, which is scheduled for 22nd of April. The total drop of the Canadian dollar (or so called Loonie) against the U.S. dollar this year is at 1.6% after a 17% gain last year. The drop increased this […]

April 21
2008

Dollar Decline May Slow but Will Continue

The U.S. dollar decline versus the European currency has slowed down recently as the investors relied on the intervention by the G7 to overcome the global currency imbalance and strengthen the dollar. Although the finance ministers of the Group of Seven countries are concerned with the overapreciation of the euro against the U.S. dollar, the currency volatility is their primary concern. Elevated volatility is what […]