CAD Bounces on Commodities Bounce Back
Tuesday, November 03, 2009, 07:28 GMT Loonie bounced back from the 1-month low after gains in commodities, mainly crude oil touching the $80 mark, against the Greenback. Support also came for the rally as it is mainly fuelled by the ‘better than anticipated’ data on manufacturing and home sales. Gains are, however, very difficult to [...]
Global Economy picks up, JPY heads downhill
Friday, 23rd October, 2009, 07:58 GMT The head of Societe Generale’s head of forex, Yuji Saito commented on growing evidence that global economies appear to be recovering. The demand for high-yield assets sprung back on an advance in stocks in Europe, triggered by positive earnings. The JPY is set for a weekly decline against 13 [...]
USDCHF Pair – A Bear’s Dream?
The USDCHF pair is looking like a bear’s dream with the RSI hovering around the oversold zone, currently valued at 33. The MFI is also suggesting a downward trend, since it was at 64 only 10 days ago, compared to 36 today. Technical’s suggest that there is much downside left until 0.992 (Stop Loss: 0.995) [...]
Euro to attract policymaker action: falls on 2nd straight day on better US results.
Wednesday, 21 October, 2009, 8:00:18 a.m. GMT Policy makers expressed concerns on the impact of a stronger Euro on the 16 nation Eurozone, on the EUR downfall as it continued for a 2nd straight day. Excessive strength in the currency could derail economic recovery in the Eurozone, which could further lead to a drastic downward [...]
Financial Crisis Highlights Need to Deal With Global Imbalances: Bernanke
Monday, 19 October 2009, 9:51 GMT On his undertaking to alter federal policy, Fed chairman highlighted the importance of handling global imbalances in trade and capital flows. Due to the discrepancy that this leads to, Bernanke calls for the pressing need for policy reforms. The prevailing financial crisis has challenged policy makers who are turning [...]
Euro, GBP, JPY, USD – Currency Major Update
Currency Major Update 13th October 2009, 0910 GMT Euro The Euro continued its bull run against all major currencies following strong corporate earnings and some improvement in employment figures. It is still in uptrend and may peak higher in the future as European Central banks shift massive reserves into the Euro. Retail sales are improving [...]
Dollar Plunges after G-7 Meet
The greenback plunged against its major peers after the G-7 meet at Istanbul where all the finance ministers skipped the currency weakness agenda against the USD to tackle recession. The USD was trading weak against 15 of the 16 most traded currencies, with the Yen being the only exception, as the Japanese Finance Minister Fuji [...]
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