Breaking News
December 19
2007

Swedish Riksbank Leaves Rate at 4.00%

Swedish central bank left the main interest rate unchanged at 4.00% during the meeting of the Executive Board on 18 December. The economy growth slowdown didn’t allow the Riksbank to increase the interest rate according to their uptrend policy maintained since January 25, 2006. The Board has noted that the economic activity in Sweden is […]

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December 18
2007

Chinese Yuan Appreciates on Diversification

The United States Treasury International Capital report showed that China has been selling its Treasuries for a third month in a row in October 2007, which may signal for the start of the funds diversification. Yuan rose by 0.06% after this release, climbing up to 7.3828 per U.S. dollar from 7.3873 at the close yesterday, […]

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December 18
2007

Japanese Yen Falls Today

The Japanese yen fell against majority of the world currencies on the rising risk appetites of the global and Japanese investors along with the extremely low probability for the rate hike by the central bank of Japan. As almost always the case with the yen falling — the most gaining currencies are the ones with the highest interest rates set by central banks — i.e. the South African rand and the New Zealand dollar. Surveys of the Japanese financial companies show their urge […]

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December 18
2007

Dollar Unchanged After Housing Data

Dollar remains almost unchanged against euro even after the release of the U.S. housing data. EUR/USD grew up by about 16 pips only for the whole day with the main movement direction changing constantly. Supported by the yesterday data on the net foreign purchases, dollar doesn’t want to give up positions even after the not so good data in the real estate sector. U.S. Census Bureau released the New Residential Construction […]

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December 17
2007

Hungarian Central Bank Holds Rate – Forint Drops

Magyar Nemzeti Bank (Hungarian Central Bank) decided today during the Monetary Council’s meeting to hold the main refinancing interest rate at the same level — 7.50%, after the last cut made from 7.75% by MNB on September 25. Hungary is still maintaining the highest interest rate in the European Union. While the target inflation of the central bank is 3.0% the actual number is far from it — 7.1% according to the November data. […]

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December 17
2007

NY Empire State Manufacturing Index

Dollar continued to strengthen against major currency pairs (except the Swiss franc) even after the very pessimistic release of the December NY Empire State Manufacturing Index report, which fell down by 17 points to 10.3. Federal Reserve Bank of New York reported that the new orders and shipments declined significantly in December according to their survey. Among the good news was the Treasury International Capital report for October — net foreign […]

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December 16
2007

New Broker and Good News from LiteForex

I’ve updated the brokers section adding another Muslim-friendly Forex broker that doesn’t charge or give any overnight interest over the open positions. While being crucial to Muslim traders this quality can be useful to other traders that prefer positions with negative overnight interest. GCI Financial is not a new Forex broker, it operates since 2002, which is rather old for the on-line brokers. […]

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December 15
2007

Forex Technical Analysis for 12/17—12/21 Week

EUR/USD trend: sell.GBP/USD trend: sell.USD/JPY trend: buy.EUR/JPY trend: hold. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3970 1.4191 1.4309 1.4530 1.4648 1.4869 1.4987 GBP/USD 1.9594 1.9872 2.0023 2.0301 2.0452 2.0730 2.0881 USD/JPY 108.19 109.34 111.30 112.45 114.41 115.56 117.52 EUR/JPY 158.39 160.14 161.79 163.54 […]

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December 15
2007

Canadian Dollar Falls Sharply

Canadian dollar declined to its 3-month lowest value against U.S. dollar this week continuing the correction, which began on November 7. USD/CAD gained about 1.3 percent this week going up from 1.0040 to 1.0170 making it sixth bullish week in a row — first such bullish sequence since February-March of this year. CAD started to lose against its southern neighbor after Canadian Prime Minister […]

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December 14
2007

Central Bank of Chile Raised Interest Rate

Yesterday Chilean central bank increased its interest rate by 0.25 basis points up to 6.0%. It was the first rate hike in Chile since September 13 this year. Central bank has been on its quest to destroy the risks of elevated inflation levels since July. But the break which occurred during October-November gave the traders […]

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