tag:blogger.com,1999:blog-26305896642788912942024-03-05T07:32:36.819-08:00Forex ExchangeDollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.comBlogger101125tag:blogger.com,1999:blog-2630589664278891294.post-25488437172568044292010-05-03T13:55:00.001-07:002010-05-03T13:55:13.663-07:00Slow U.K. Economic Growth Curbs Pound’s StrengthThe Great Britain pound slipped today on the speculation that the attempts to deal with the budget deficit may be hindered by the slow growth of the U.K. economy, which expanding with slower pace than the economies of the U.S. and the<br />
<nobr>Euro-zone</nobr>.<span id="more-5798"></span><br />
The U.K. economy expanded by 0.2 percent in the first quarter, while the U.S. economy grew at a 3.2 percent annual rate at the same time. The declining consumer confidence in Britain, which dropped to the <nobr>three-month</nobr> low in April, deprives the sterling of its strength. The U.K. budget deficit considered to be the largest among the Group of Seven nations.<br />
The opinion polls showed that the concern for the stalemate in the Parliamentary election remains. Such pessimistic outlook causes worries that the Britain’s troubles will persist.<br />
GBP/USD traded at 1.5277 today as of 19:05 GMT down from the opening rate of 1.5317. EUR/GBP traded at about 0.8711 after it opened at 0.8637. GBP/JPY traded near 143.53.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-41387100906332466872010-05-03T13:54:00.003-07:002010-05-03T13:54:52.114-07:00Loonie Goes Down on Falling EquitiesThe Canadian dollar declined against its U.S. counterpart and other major currencies after the equities dropped on the speculation that the federal prosecutors investigating whether to file the criminal fraud charge against the Goldman Sachs Group Inc.<span id="more-5810"></span> <br />
The decline of the stocks outweighed the expectations for Greece to receive the aid package soon and the report about the expanding nation’s economy, which previously spurred the Loonie, as the Canadian currency nicknamed for the image of the aquatic bird on the C$1 coin.<br />
The doubts about the increase of the interest rates are also sapping the Loonie of its strength. Previously the <a href="http://www.bankofcanada.ca/">Bank of Canada</a> dropped the conditional pledge to keep the benchmark rate at the record low level of 0.25 percent and hinted that the rates can be increased in June. Yet the words of the central bank’s governor “going forward, nothing is <nobr>pre-ordained</nobr>” sparked the speculation that the interest rates may not be increased by that time.<br />
USD/CAD closed at 1.0156 after opening at 1.0047. EUR/CAD closed at 1.3521 after it opened at 1.3295.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-42617284396703002792010-05-03T13:54:00.001-07:002010-05-03T13:54:33.627-07:00Pound Dropped This Week as Consumer Confidence DeclinedThe Great Britain pound experienced some volatile moves this week and by the weekend the currency declined against most other majors as the Parliamentary election draws near without signs of clear winner and as the households had the pessimistic outlook for their financial situation, causing the consumer confidence to worsen.<span id="more-5825"></span> <br />
The data about improving situation in manufacturing and services industries, caused by the U.K. economy’s recovery, hadn’t brought enough confidence to the Britons. The outlook about the personal financial situation dropped to 2 points from 4 points the last month, while the <a href="http://www.gfknop.com/pressinfo/releases/singlearticles/005788/index.en.html">consumer confidence</a> fell from minus 15 to minus 16 this month. Some positive data from the housing sector, which somewhat boosted the sterling, hasn’t outweighed the consumer pessimism together with the signs of the slow economic recovery and, as a result, the U.K. currency dropped by the end of the week.<br />
The opinion polls about the election don’t bring relief either. The forthcoming election may result in the stalemate and, while the three participating parties all pledged to reduce the budget deficit, which increased as much as 11.5 percent of GDP in 2009 and is considered the biggest among the Group of Seven nations, the parties disagree on the exact measures and the timing for them.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-38970424337182712112010-05-03T13:53:00.003-07:002010-05-03T13:53:36.342-07:00High Risk Appetite Boosts New Zealand DollarThe New Zealand dollar rose today against other <br />
<nobr>most-traded</nobr> counterparts as the outlook for Greece to receive the rescue package valued as much as €110 billion ($146 billion) improved the investors’ risk sentiment and attracted them to the South Pacific nation’s <nobr>higher-yielding</nobr> assets.<span id="more-5836"></span><br />
The investors are attracted to New Zealand because of its high interest rates, which is 2.5 percent, compared to 0.1 in Japan and about zero in the U.S., but as such trades carry risk that the profits would be erased by the moves at the currency markets, the investors’ risk appetite has to be high enough to encourage them use differences in the interest rates. And the prospect for the Greece to receive the aid soon makes the investors more willing to risk.<br />
NZD/USD traded near 0.7294 as of 11:57 GMT today after it opened at 0.7291. EUR/NZD traded at about 1.8137 after opening at 1.8275.<br />
If you want to comment on the New Zealand dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-19616087547184171942010-05-03T13:53:00.001-07:002010-05-03T13:53:15.351-07:00Concern About Greece’s Bailout Hurts Euro<h2 style="margin-bottom: 10px;">The euro dropped today as the doubts arouse that Greece won’t receive the €110 billion aid package, which are supposed to be provided by the European Union governments and the International Monetary Fund.<span id="more-5847"></span> </h2>The EU leaders are going to discuss at their meeting on May 7th the details of the bailout, which may require from Greece to cut its budget spendings. Such measures are considered too severe by the Greece’s citizens and are speculations about the possible budget cuts caused protests among Greeks.<br />
EUR/USD dropped to 1.3234 today as of 13:27 GMT from the opening level of 1.3329.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-72448289117708378872010-05-03T13:52:00.001-07:002010-05-03T13:52:44.776-07:00Canadian Dollar Goes Up on Commodity Prices, Rising StocksThe Canadian dollar advanced today as the crude oil prices surged to the highest level since September 2008, U.S. stocks gained and gold climbed to the highest level since November 2009.<span id="more-5854"></span> <br />
The Canadian currency depends on the prices for the commodities, especially crude oil, being the key export commodity of the nation, therefore the price increase bodes well for the Loonie. The expectation for the central bank to increase the interest rates as soon as of June or by July also supported the currency’s performance.<br />
Still, the concern that the bets for the rates increase were overdone has already slashed the currency previously, so many economists look forward for the central bank’s meeting in June to clarify the Loonie’s future moves. The reports about the employment this week may give suggestions to the Canadian dollar’s performance in the near term.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-39179424687787772322010-03-07T13:13:00.003-08:002010-03-07T13:13:18.433-08:00Zloty Hits Record High on Rate TalksThe Polish zloty is facing a scenario different from its neighboring currencies in the Baltics, central Europe and the euro as interest rates may rise in the following months to control the country’s growing inflation, helping the zloty to climb in forex markets this Thursday.<span id="more-3890"></span> <br />
After a Polish government official stated that interest rates may be hiked in the second half of this year to prevent inflation to grow beyond the nation’s targets, the zloty reached the highest price in more than a year versus the currently unattractive euro.<br />
EUR/PLN closed at 3.8963 from an opening rate of 3.9088 this Thursday.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-28047001869862994462010-03-03T09:10:00.002-08:002010-03-03T09:10:20.738-08:00IPO Boosts Demand for Brazilian RealThe Brazilian real is starting this month extending last week’s advance and reverting a negative trend from the beginning of the year, as the appeal for assets in the country are attracting foreign capital inflows and helping the real to beat a number of currencies in<br />
<nobr>foreign-exchange</nobr> markets.<span id="more-3863"></span><br />
Brazil has one of the highest interest rates around the world and renewed appetite for risk in equities markets are allowing the South American currency to post a series of gains versus important currencies with different economic profiles, specially before an IPO in Bovespa which may raise up to $5 billion, considering a significant part of this amount composed by foreign capital. Interest rates in Brazil may rise also in the following months, making the real to repeat last year’s story with the Aussie dollar to rank among the top performing currencies in forex markets.<br />
Optimism is back, and now that pessimism coming from EU’s fiscal crisis and new lending requirements in the U.S. and China cooled down, the scenario for the real has really improved. If risk appetite continues to climb to real may reach new record lows, specially versus the pound and the euro.<br />
USD/BRL closed this Monday at 1.7985 from an opening rate of 1.7995.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-27656574668955618502010-03-03T09:10:00.000-08:002010-03-03T09:10:02.793-08:00Euro Up on Greek HopesThe euro emerged versus several important currencies as Greece will propose a strategy to solve its budget deficit crisis, declining pessimism among investors to purchase assets in the Eurozone.<span id="more-3866"></span> <br />
The Eurozone had a breather today after Greece, the main responsible for the euro’s most recent downtrends, announced through government officials that decisions are likely to be presented anytime to soon to tighten the countries massive budget deficit, increasing optimism that the fiscal crisis is likely to find a solution in the <nobr>mid-term</nobr>.<br />
EUR/USD traded at 1.3633 as of 02:49 GMT from a previous intraday rate of 1.3517.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-64845197696168495262010-03-03T09:09:00.001-08:002010-03-03T09:09:26.802-08:00Chilean Peso Climbs After EarthquakeThe Chilean peso oddly profited from a natural tragedy that impacted the country in the first night of this month, as speculations suggest that the reconstruction process in the country, will allow the country’s economy to accelerate.<span id="more-3869"></span> <br />
The South American country is likely to repatriate reserves invested overseas to promote a quicker restructuring in the country after Chile was shook by an earthquake this weekend, allowing the peso to rank among the best performing currencies this Tuesday in forex markets.<br />
USD/CLP closed at 519.05 this Tuesday from an opening rate of 523.25.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-68976717353139786402010-03-03T09:08:00.007-08:002010-03-03T09:08:59.991-08:00Dollar Down after European NewsThe dollar started this Tuesday losing versus European and<br />
<nobr>higher-yielding</nobr> currencies as positive events in the old continent pushed further up risk aversion in trading markets globally, making the pound and the euro to rank among the best performers versus the greenback today.<span id="more-3872"></span><br />
The pound managed to gain versus the dollar and traded above $1.50 ending the longest losing streak versus the U.S. currency in more than a year, after consumer confidence rose in the country to the highest level since the global slump affected the U.K. in 2008. The dollar has been losing ground this week versus the euro as concerns regarding the Greek crisis decreased, and today, after the country announced further cuts to tighten its budget gap, the Eurozone currency rose.<br />
Much of the dollar’s advance since last December had been consequences caused by lack of optimism in European markets, but, this week, after interest rate speculations decreased in the U.S. and Europe had a breather on bad news, the market scenario is not so favorable for the greenback anymore.<br />
GBP/USD traded at 1.5051 as of 14:01 GMT from 1.4964. EUR/USD traded at 1.3652 from 1.3571.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-1543668337686862702010-03-03T09:08:00.005-08:002010-03-03T09:08:37.968-08:00Consumer Confidence Support Sterling’s AdvanceThe U.K. currency entered its second day of gains versus most of the main traded currencies after evidences of economic improvements started to appear in the country, increasing appetite for assets in the country, which have been lately affected by grim forecasts towards the kingdom’s economy.<span id="more-3875"></span> <br />
Two positive economic releases helped the pound to beat multiple currencies this week so far after an index of services industries rose to the highest levels since the global slump struck the U.K.’s economy, and a consumer confidence report came with numbers much above forecasts, signaling that despite the country’s budget deficit is rising, the economic dynamism in the country may allow the government to cope more easily what the current financial challenges in the country.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-68317770402264876642010-03-03T09:08:00.001-08:002010-03-03T09:08:15.820-08:00Swedish Krona Down on Eurozone OptimismThe Swedish krona fell for another day this Wednesday as optimism in the Eurozone and negative releases in the Nordic country declined attractiveness regionally for assets in Sweden.<span id="more-3878"></span> <br />
The krona is very likely to end this week posting a drop versus important currencies in Europe after a report in the country showed that Sweden is again having to deal with a recession, declining the odds that interest rates will be hiked in the country anytime soon. The krona had been an option in Europe as the Greek crisis affected market sentiment in the Eurozone, but this week, as Greece proposed new measures to tighten its fiscal deficit, the euro recovered versus the krona.<br />
EUR/SEK traded at 9.7878 as of 14:39 GMT from 9.7700 when markets opened today.Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-33795622417067852062010-01-06T06:50:00.003-08:002010-01-06T06:50:39.208-08:00Pound Declines Before Policy Makers MeetingThe pound lost versus several <p><nobr>key-currencies</nobr> today and specially versus its regional rival, the euro, as traders speculate that U.K.’s financial authorities will insist in quantitative easing measures to stimulate the British economy, affecting the sterling outlook in currency markets.<span id="more-3246"></span></p> <p>The British currency posted a declining session versus most of the 16 main traded currencies two days before a <a href="http://www.bankofengland.co.uk/">Bank of England</a> policy makers meeting, where, according to analysts, the current asset purchasing program will not be suspended, declining even further attractiveness for the pound, as the recession in the U.K. remains rather significant and measures are necessary to attempt starting a faster economic acceleration in the country. Even if the real estate market is providing positive data in the U.K. since November, the sentiment regarding the economic future in the nation is rather misty, stopping the pound to advance in <nobr>foreign-exchange</nobr> markets.</p> <p>U.K.’s central bank strategy is following a different, and dovish, path than most of the wealthy nation’s policy makers. While interest rate hikes talks are a global trend, in the U.K., quantitative easing extensions are still possible, and this has a intense impact in the pound’s rates.</p> <p>EUR/GBP traded at 0.8979 as of 19:10 GMT from a previous reading of 0.8945 yesterday. GBP/USD traded at 1.5983 from 1.6090.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-52346748819348936482010-01-06T06:50:00.001-08:002010-01-06T06:50:16.417-08:00Romanian Leu Hits 6-Month High as Political Crisis EasesThe Romanian leu rallied today versus the euro and the U.S. dollar as interest rates were unexpectedly cut in the country after a political crisis that delayed an IMF bailout finally ended, adding confidence that stability in the parliament will lead the nation towards a faster recovery.<span id="more-3252"></span> <p>After interest rates were cut today to 7.5 percent at the lowest level in a year, the leu rose versus most of the main currencies, as a political crisis ended regarding disputes that affected the process of obtaining and using a $30 billion bailout provided by the <a href="http://www.imf.org/">International Monetary Fund</a> to the Eastern European nation. The optimism regarding better economic days for Romania with political stabilization helped the leu to rally today.</p> <p>EUR/RON closed at 4.1838 from an opening rate of 4.2137. USD/RON ended the day at 2.9033 from 2.9139.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-49849992636982670332010-01-06T06:45:00.000-08:002010-01-06T06:49:37.692-08:00Mexican Peso Extends Rally on U.S.The Mexican peso is benefiting from the U.S. economic outlook for 2010, as Mexico has the U.S. as the main destination for its exports, both raw and manufactured, and an accelerated growth of its neighbor is helping Mexico’s currency to gain in <p><nobr>foreign-exchange</nobr> markets.<span id="more-3255"></span></p> <p>The peso continued to profit today from a better confidence towards its main trading partner, the U.S., as well as for increased crude oil rates, since the Latin American nation is one of the main oil suppliers for the U.S. together with Canada, helping the peso and the loonie to trade high in the beginning of 2010.</p> <p>USD/MXN traded at 12.8190 as of 20:13 GMT from an opening rate of 12.8750.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-80862759639238229852009-12-24T09:10:00.002-08:002009-12-24T09:11:00.337-08:00Pound Falls Further on BOE Meeting Outcomehe pound declined for another day after policy makers agreed unanimously to extend stimulus in order to rescue the faltering British economy from the longest recession in the last decades, decreasing attractiveness for an already weakened currency in <p><nobr>foreign-exchange</nobr> markets.<span id="more-3117"></span></p> <p>The U.S. dollar traded near a <nobr>two-month</nobr> high versus the British pound after this month’s central bank meeting talks published today indicated that all policy makers opted for extending its bond purchase program to revive the nation’s economy, despite admitting it has not been as effective as previously expected. Another decision from the <a href="http://www.bankofengland.co.uk/">Bank of England</a> did not surprised traders as benchmark interest rates in the country remained at an all time record low of 0.5 percent, since the economy does not provide conditions even for speculative movements suggesting rate hikes in a foreseeable future.</p> <p>The outlook for the pound depreciated as quantitative easing measures taken by the Bank of England has been ineffective, and the country’s resilience has been disappointing not only for traders and analysts, but for the population as well, setting <nobr>pound-priced</nobr> assets as one of the least appealing ones among the 6 top traded currencies.</p> <p>GBP/USD traded at 1.5956 as of 12:58 GMT from a yesterday’s price of 1.6055. EUR/GBP climbed up to 0.8948 from 0.8895.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-75730452387598974732009-12-24T09:10:00.001-08:002009-12-24T09:10:35.965-08:00U.S. Dollar Declines on Frustrating Housing ReportA long winning streak for the greenback versus currencies like the euro and the Aussie dollar was stopped after a housing report was published today bringing rather negative figures much below estimates, providing support for other currencies to pare losses versus the U.S. dollar.<span id="more-3120"></span> <p>The dollar declined sharply versus the yen and the Swiss franc after several days rallying versus most of the 6 main traded currencies after a new home sales report indicated much worse numbers than the previous report and forecasts, emerging doubts regarding the pace of recovery for the world’s wealthiest economy, as traders use the circumstances to take profit and repatriate capital invested in the dollar after a rally that started in the beginning of the month when positive reports fueled speculations that interest rates could be hiked sooner than expected by the <a href="http://www.federalreserve.gov/">Federal Reserve</a>.</p> <p>Not all sectors of the U.S. economy are providing optimistic data, according to analysts. Today’s movement is a combination of consequences caused by the negative housing report, but also a natural correction after so many days of gains for the greenback, as some speculative positions are sold.</p> <p>EUR/USD traded at 1.4346 as of 17:32 GMT from a previous reading of 1.4251 yesterday. USD/CHF traded at 1.0368 from 1.0489 yesterday.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-45171186900279830222009-12-24T09:09:00.002-08:002009-12-24T09:10:11.208-08:00Russia’s Ruble Climbs Further as Oil Touches $75The Russian currency benefited from another day of growing demand for the crude oil, providing support for the ruble to advance versus the euro, dollar and the pound, as the demand for energy rises in the coldest season of the year in the Northern Hemisphere.<span id="more-3125"></span> <p>After the crude oil touched $75 a barrel in New York today, the ruble continued its previous days advances versus most of the main currencies as the economic outlook for the world’s biggest energy exporter in 2010 is very optimistic, with an annual growth up to 5 percent expected for the coming year.</p> <p>USD/RUB traded at 30.19 as of 18:10 GMT from an opening rate of 30.57 today.</p> <p>If you want to comment on the Russian Ruble’s recent action or have any questions regarding this currency, please, feel free to reply below.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-66202095771023242462009-12-24T09:09:00.001-08:002009-12-24T09:09:54.357-08:00Romanian Leu Hits Record High on New Prime MinisterThe Romanian leu touched the highest level in three months versus the euro after the country’s parliament chose its new prime minister, lifting speculations that a political crisis could influence the country’s economy negatively.<span id="more-3128"></span> <p>After the Romanian Parliament approved a new government led by prime minister <a href="http://en.wikipedia.org/wiki/Emil_Boc">Emil Boc</a>, speculations that loan approvals necessary for stabilizing the Eastern European economy would not be approved disappeared, helping the leu to advance versus the dollar and the euro as concerns that the country could suffer a credit downgrade cooled down.</p> <p>EUR/RON closed today at 4.1982 from an opening rate of 4.2173.</p> <p>If you want to comment on the Romanian leu’s recent action or have any questions regarding this currency, please, feel free to reply below.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-89177737585731495852009-12-24T09:06:00.000-08:002009-12-24T09:09:11.882-08:00Dollar Rebounds on Jobless ClaimsAfter having its winning streak halted yesterday and earlier today on a negative housing report and as the Fed insisted that economic stimulus will be maintained, the dollar rebounded slightly as an employment report brought optimism back to the currency’s outlook.<span id="more-3132"></span> <p>The U.S. dollar started today’s session losing specially versus the euro after touching the lowest level in December, and also dropped versus the pound and the Canadian dollar as stocks surged globally, but as a jobless claims reports indicated a lower level of new applications for the past week, the dollar pared some of its losses and is currently trading near the highest levels for this month versus the yen and the pound, as retail sales also increased in the U.S., bringing optimism towards the economic recovery in North America for the next year.</p> <p>Even if the <a href="http://www.federalreserve.gov/">Federal Reserve</a> frustrated traders avoiding to comment interest rate hikes for anytime soon, the economic recovery in the U.S. and pessimism in other economic regions is still allowing the greenback to maintain the levels it reached this month, and may extend its gains for early 2010.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-11784908079808890342009-12-19T12:25:00.000-08:002009-12-19T12:26:11.813-08:00ForexWaht is Forex ?Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-15256556317641388302009-11-08T06:03:00.003-08:002009-11-08T06:03:53.541-08:00Jobless Rates Push New Zealand Dollar DownThe New Zealand dollar lost versus most of the 16 main traded currencies this Thursday as the quarterly unemployment rate in the country grew further, decreasing attractiveness for the kiwi, as growing unemployment figures are a sign of bad economic health.<span id="more-2659"></span> <p>The <a href="http://www.rbnz.govt.nz/">Reserve Bank of New Zealand</a> Governor <a href="http://en.wikipedia.org/wiki/Alan_Bollard">Alan Bollard</a> affirmed that a strong currency is likely to slowdown the economic recovery process that the South Pacific nation is experiencing, raising concerns among traders that further rallies for the kiwi will eventually suffer interventions from the national central bank, declining even further the attractiveness for the kiwi, as the unemployment rate rose to 6.5 in the past quarter, the highest in 9 years and 0.5 percent more than the previous quarterly reading this year, affecting negatively the kiwi performance as stocks and commodities also dropped worldwide, a negative fact for the South Pacific region due to its commodity exporter economic profile.</p> <p>Both analysts and policy makers in New Zealand admit the problems the country faced during the worst moments of the recession and considering its recovering process more complicated than the one in Australia, even if the kiwi is together with the Aussie, ranking among the 3 best performers in <nobr>foreign-exchange</nobr> markets in 2009, since despite its problems, New Zealand has been showing a stronger resilience than other wealthy nations in the world.</p> <p>NZD/USD traded at 0.7211 as of 13:15 after touching 0.7308 yesterday. NZD/JPY traded at 65.17 from 66.43.</p> <p>If you want to comment on the New Zealand dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-42448477720020062942009-11-08T06:03:00.001-08:002009-11-08T06:03:25.874-08:00Pound Up as Asset Purchase Program ChangesThe pound climbed significantly versus the dollar, and to a lesser extent versus the euro as the national central bank extended its <p><nobr>asset-purchase</nobr> program less than expected, suggesting that the British economy is needing less government stimulus to find its way out of recession, increasing attractiveness for the U.K. currency.<span id="more-2662"></span></p> <p>The <a href="http://www.bankofengland.co.uk/">Bank of England</a> has been using its <nobr>asset-purchase</nobr> program to stimulate the faltering economy in the U.K., and its further extension was lower by 12.5 percent in total number of funds than what most analysts suggested, at 200 billion pounds, indicating that in the <nobr>mid-term</nobr> future, the program may be abandoned, as the British economy is likely to recovery its growing pace which will lead to further interest rate hikes, adding confidence towards the pound that has been having a positive performance this week in trading markets. The quantitative easing measures used by the Bank of England so far were one of the biggest factors to push the pound down this year, as it influenced negatively the pound outlook and sentiment towards the U.K.’s economy.</p> <p>Analysts were surprised by the BOE tone and measures regarding the <nobr>asset-purchase</nobr> program, shifting instantly the trends for the pound in <nobr>foreign-exchange</nobr> markets. The quickest the <nobr>asset-purchase</nobr> program wil be partially or totally suspended, the better will be for the pound in currency markets.</p> <p>GBP/USD traded at 1.6579 as of 14:04 from 1.6508 yesterday. GBP/JPY traded rather neutral from yesterday at 150.09.</p> <p>If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below. </p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0tag:blogger.com,1999:blog-2630589664278891294.post-17599587516740524572009-11-08T06:02:00.002-08:002009-11-08T06:03:04.052-08:00Euro Up as ECB Shifts Stimulus ProgramThe euro pared previous losses with a number of currencies this Thursday as the ECB affirmed that a series of measures used to stimulate the bloc’s economy on its way out of recession will be phased out, adding evidences that the economic health in the Eurozone is improving significantly.<span id="more-2665"></span> <p>The <a href="http://www.ecb.int/home/html/index.en.html">European Central Bank</a> President <nobr>Jean-Claude</nobr> Trichet stated today that gradually stimulus measures used to dodge recession will be lifted towards the complete phasing out of these interventions, as Europe is showing a number of reports indicating better economic figures during the past months.</p> <p>EUR/USD traded at 1.4877 as of 14:34 GMT after being traded at 1.4816 before these statements.</p> <p>If you want to comment on the Euro’s recent action or have any questions regarding this currency, please, feel free to reply below.</p>Dollarhttp://www.blogger.com/profile/09029523914907043346noreply@blogger.com0