News – Page 1117

March 5
2008

Pound at All Time Low against Euro

The Great Britain pound fell to its lowest historical value against the euro today after the pessimistic economic news were released in UK. Pound also lowered against other major currencies today. Two major news releases came out today in UK consumer confidence and new permanent jobs. The labor market in February was declining according to the KPMG and the Recruitment and Employment Confederation. They reported that the number of the new workers […]

March 4
2008

Australian Benchmark Rate Set to 7.25%

The Reserve Bank of Australia increased the national benchmark rate for the second time in 2008 from 7.00% to 7.25%. The last time interest rate was increased on the 5th of February. Currently benchmark interest rate in Australia is the highest since 1996. RBA believes that the recent borrowing tightening contributed to the slowing of the inflation as the consumers began to spend less: Having weighed both the international and domestic information available, the Board concluded that a further tightening in monetary […]

March 3
2008

JPY Grows on Stock Plunge in Japan

The Japanese yen rallied today during and after the Asian trading session, as the stock market in Japan plunged rapidly today. The risk-averting investors massive sell-off cut the NIKKEI 225 index by almost 4.5%. The yen ended the last week on Forex with a significant gains against U.S. dollar, Australian and New Zealand dollars, euro and pound. It happened, because bad economic statistics in U.S. spurred pessimistic sentiments on all stock markets, leading to the growth […]

March 1
2008

Australian Dollar at 24 Years High

After one of the worst weeks for the U.S. dollar and the attraction of the large capitals to the high-yielding assets this week, the Australian dollar reached its record high value against USD in 24 years. AUD/USD touched 0.9496 two days ago it was the highest level since March 1984. The overall weekly gain wasnt very impressive (under 0.9%) because the currency pair corrected significantly on Friday. Aussie remained the second best performing currency against the U.S. […]

February 29
2008

South Korean Won Corrects against USD

South Korean won was among the other Forex traded currencies that triumphed over the U.S. dollar during this week as the USD was losing its ground on many areas. But today USD/KRW corrected from its almost two-month bottom. The current account deficit in South Korea is seen as one of the most important monetary problems recently and while the dollar is losing […]

February 28
2008

Dollar Still Near Record Lows

The dollar is still trading near its record low value against the euro today, but it has managed to recover somewhat from the yesterdays fall after the oil prices corrected on the increased oil inventories in U.S. Fed chairman Ben Bernankes testimony to the U.S. congress showed that there are possibilities for the housing and employment markets to weaken even further and that the risks for the financial markets and banking sector still remain high. This testimony added […]

February 27
2008

Euro above 1.5 vs. Dollar

The U.S. dollar fell below its absolute record low level against the European currency today. If the day closes above $1.5 per euro, it will be a signal for a definite return of dollar to its bearish trend of the 2007. EUR/USD broke through the major 1.5000 resistance at the beginning of the Asian trading session today, but then the currency pair retraced back below the 1.5000 mark […]

February 26
2008

Rupee Grows for Second Day

Indian rupee continued to advance in value during todays Forex trading session as the investors bought local currency to participate in the Indian stock markets rally. The Asian financial markets continued to grow today attracting more traders and spurring the growth of the regional currencies. Rupee also benefits from the tightening monetary policy in U.S. combined with the high interest rates on Indian government bonds. This […]

February 25
2008

Kiwi and Aussie Rise on Demand for High-Yielders

New Zealand dollar reached the two months high level against the Japanese yen and almost broke the more than 6 months record high level against the U.S. dollar today. Aussie also showed a similar dynamic of growth it came close to the 2 months old records against yen and reached its highest value against the U.S. dollar since November 2007. Despite […]

February 22
2008

Appreciation of Yuan Keeps CPI Down

The Peoples Bank of China released a monetary policy report for the fourth quarter of 2007 today. In this report, Chinese monetary authorities noted that the yuans appreciation really helps in fighting the national inflation. Consumer prices index grew significantly last year, breaking a decade old records on inflation. Although, strong yuan helped to keep inflation from accelerating, CPI was still at a high level by the end of 2007 and […]