News – Page 1114

April 9
2008

Yen Steady on Forex after Rates Unchanged

The Japanese yen is holding steady on the Forex market today after interest rate was left unchanged at 0.5% and the stock markets fell slightly. The new head of the Bank of Japan, Masaaki Shirakawa, didnt bring any surprises to the first monetary policy under his lead. Although he noted that there are problems in the economy that are keeping down the growth, the […]

April 8
2008

Pound Slides as House Prices Fall 2.5%

The Great Britain pound fell sharply today against dollar, euro and yen as the house prices fell in March by 2.5%, indicating that the countrys mortgage market slump is not over yet. Halifax House Price Index a housing report of HBOSplc showed a 2.5% decline in prices for March with the annual growth (March 2008 to March 2007) at as little as 1.1%, significantly below the overall CPI level in the United Kingdom (2.5%). HBOSplc expects that there […]

April 7
2008

ZAR Gains on Rising National Reserves

The South African rand grew today against the U.S. dollar (and the other world currencies too, because dollar is rising today) as the report showed an increase in the countrys foreign currency reserves in March. Its worthy to say that the rand usually fluctuates in a linear dependence to the U.S. dollar it rises sharper than dollar, but when dollar is bearish rand is falling even faster. So, this day […]

April 4
2008

Dollar Aimed for Weekly Gain over Yen

The U.S. dollar is heading for the fastest weekly gain in more than four years versus the Japanese yen as the financial markets get a feeling of relief from the crisis. Yen was a favorite safe haven currency since the beginning of the financial crisis in U.S. and the global stock market slump. The low yields and the high security of the Japanese bonds […]

April 3
2008

Canadian Dollar Continues Appreciation

The Canadian dollar continued its two-day growth against the U.S. dollar and the Japanese yen today, as the commodity markets showed that are still able to grow. Canadas dollar touched the two-month low against the U.S. dollar on Tuesday, but started to recover quickly after that and finished every day of the current month with a moderate gain. Rising commodities pices boosted […]

April 2
2008

Dollar Stops Its 2 Days Growth

The U.S. dollar stopped its 2 days growth period and started to go bearish against other currencies today after the Asian trading session ended. Investors attention turned to the Fed chairman Ben Bernankes testimony before the U. S. Congress that is scheduled for today. Dollar continued its growth against the euro and the Japanese yen during the Asian trading session, but halted it and […]

April 1
2008

UAE Studying Dirham’s Peg to Dollar

The United Arab Emirates government has established a new committee, which purpose is to study the possibility of scrapping the dirhams peg to the U.S. dollar and the reasons to maintain this peg. According to the prime minister Sheikh Mohammed Bin Rashid Al-Maktoum, the study will focus on the benefits of staying with the peg or not. And the results of the study will be reported to prime minister. […]

March 31
2008

Pound at New All-Time Low vs. Euro

The currency of the United Europe reached a new record high level against the British pound today as the estimate for the consumer inflation in Eurozone rose unexpectedly in March. As it was reported by Eurostat today, the CPI growth in Euro area is now estimated to be at 3.5% for March, after a 3.3% growth on the price index in February. ECB targets annual inflation at 2%. Taking in attention such a rapid […]

March 29
2008

Reserve Bank of New Zealand Governor Says He Won’t Cut Rates in 2008

The Reserve Bank of New Zealand Governor, Alan Bollard, said yesterday that he wont be reducing the countrys key interest rate from its record high value in 2008, because the national inflation still remains the major concern. In the fourth quarter of 2007 New Zealand CPI increased 3.2% above the central banks target of 3.0%. In the same time economy grew 3.7% its best expansion since 2004 and […]

March 28
2008

Won Heading for More Losses

The South Korean currency is heading for more losses as the government is searching for ways to support the exporting companies and the economic growth. The won is the second weakest major currency after the South African rand since the beginning of 2008 and is the first losing currency for March. According to Citigroups analysis the Korean finance ministry will win with the Bank of Korea […]