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The South African rand kept its gains today after the South African Reserve Bank left its main interest rate unchanged at yesterday’s monetary policy meeting to support recovery of the nation’s economy. South Africa’s central bank maintained its key repurchase rate unchanged at 5.5 percent, a move expected by market analysts. The main lending rate [...]
Japanese yen is mixed today, heading higher against the euro, but lower against the US dollar and the UK pound. Uncertainty about Greece is creeping into the picture, weighing on the euro, but there is enough good news — so far — that other high beta currencies are maintaining their gains. Yen is gaining against [...]
Euro is dropping, falling from highs not seen for two weeks, as Greek debt talks resume. They’re still working out the details with private bondholders on how to proceed. The euro’s recent rally has been based on the idea of the Greek deal getting done — and continued talks have some Forex traders nervous. Back [...]
The Mexican peso jumped today to the highest level since October as the nation’s central bank refrained from cutting interest rates as high consumer prices hurt country’s economic growth. The Bank of Mexico left its benchmark overnight interbank funding rate at the record low 4.50 percent as inflation exceeded expectations for three consecutive months. Inflation [...]
The Great Britain pound jumped as UK retail sales rose last month, while concerns about the future of the European Union increased demand for the sterling as a haven from the sovereign-debt crisis in Europe. British retail sales rose 0.6 percent in December for a month ago, when sales were down 0.5 percent. Automotive fuel [...]
Gold Respects Resistance – Sell Off Coming? Gold has been technically and fundamentally supported for several years. The technical patterns arebeginning to break down which could mean the shiny metal has the potential to sell off from current levels. A break below 1532 would confirm a new downtrend and offer a trader an entry to sell. [...]
DJ FXCM Dollar Index Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9929.91 9946.39 9889.2 0.13 57.05% The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 0.13 percent higher from the open after moving 57 percent of its average true range, and the greenback may continue to [...]
Perhaps the euro’s most daunting fundamental hurdles in months has passed. And, as expected, the reaction was naturally bullish. The EU Summit this past week was a lightning rod for the market’s fears of a global financial crisis spreading uncontrollably with Greece and the Europe at the center of the storm. Naturally, some sense of [...]
The Japanese Yen advanced to a fresh record-high in October and the USD/JPY may trend lower in the month ahead as market participants diversify away from the reserve currency. Indeed, the dollar-yen slipped to 75.65 following a shift in trader sentiment, but threatens of a Yen intervention may dampen demands for the low-yielding currency as [...]
The euphoria following late Wednesday’s plan for the Eurozone is slowing fizzling out as more details appear with US equity futures currently firmly in the red. Among the sceptics is the rather new Bundesbank president and European Central Bank member Jens Weidmann who pointed out the flawed solution of using leverage to solve debt and even likened it [...]