Cable to go on a losing streak
The Cable lost ground after the OECD recommended reductions in the budget deficit so that the central bank could keep interest rates low, which would make the Sterling less attractive, vis a vis the high yield currencies. It has already broken the Nov 12 level of 1.6570 in today’s session indicating bears are on the [...]
Aussie on a 15-Month High
Friday, November 13th 2009, 06:20 GMT The Aussie gained fresh upward momentum on ‘better than expected’ unemployment data alongside firm commodity prices. It touched a new 15-month high by briefly touching 0.9370, its highest point since late Aug-08. The pair (AUD/USD) posted an intraday high of 0.92820 and is currently trading at 0.92784, against the [...]
The Yen on a steep upward climb
November 12, 2009, 1217 GMT The JPY is edging higher in today’s trade against all major traded currencies and it may just be on the way to test the 14-year high as the global economy is looking like it will bottom out the second time this year after a brief rally. It could be an [...]
Roller Coaster Sterling
November 11, 2009 12:25 GMT The Sterling rose against the Greenback after news that Britain’s unemployment rate had decreased. UK Jobless Claims Change results indicated that the unemployment rate in Great Britain has decreased () despite expectations of an increase. For the last three months, the unemployment rate recorded showed a fall from 7.9% to [...]
Kiwi Gains against Aussie after Dairy Payouts
Tuesday, November 10, 2009, 07:44 GMT The Kiwi rose against most major currencies on improving raw material prices in New Zealand after the Fonterra dairy payout. The Kiwi gained fresh strength against the AUD, particularly on the news of Fonterra Cooperative Group Ltd. announcing a 20% stronger dairy payout to farmers. Economic growth in New [...]
Record Unemployment Wins Greenback
Monday, 09th November, 2009, 07:00 GMT The Greenback weakens against all the major traded currency pairs as the unemployment rate in the US has broken the psychological barrier of 10% against the consensus of 9.9% for the month of October, thereby, losing 0.2% from September. The unemployment rate is the highest in 26 years, with [...]
CAD Bounces back from monthly lows…
The pair is expected to look bearish in the coming week as the commodity market is heating up with crude flirting around $80/barrel, and having crossed it once already this week. CAD is near its highest level in over a week as investors are eagerly waiting for the employment report to see where the Canadian [...]
RBA Statement Pushed AUD Upwards…
06th Nov 09, 0630 GMT AUD has gained an upside momentum after the RBA has issued its latest statement that it will keep on hiking the interest rates in the weeks to come. The statement fuelled the AUD which appears to be headed for another positive close in today’s session. Australia has already hiked its [...]
NZD Weakens AS Unemployment Hits Fresh 9-Year High
Thursday, 05th Nov, 2009, 10:15 GMT The NZD has lost ground against all the major traded currencies as unemployment in NZ rose to its highest level in the last 9-years. The belief was that the NZD would gain momentum later this week, but it suffered a major setback when the unemployment data was released thus, [...]
Markets Cautious Ahead of Fed Meet
Wednesday, November 04, 2009, 09:25 GMT The currency market is trading very cautiously in today’s session ahead of the monetary policy meeting of federal reserves. Although the market is mainly trading in positive territory, as the consensus in analyst community shows that there will be no change in the benchmark interest rates and it will [...]
