Forex News: Pound Falters in Budget Run-Up

Somya Gabriel — Mon, 22 Mar 2010 11:16:28 +0000

On Friday the Pound fell sharply in the forex online market after a Bank of England policymaker said the UK could still fall back into a recession. The Pound fell 2.4 cents or 1.5% against the US Dollar to close trading at $1.5013. Against the Euro it fell 1 cent, or 0.9% to EUR [...]

Rising Yen May Force BoJ Intervention in Forex Market

Somya Gabriel — Thu, 18 Mar 2010 12:10:42 +0000

Earlier this week the Central Bank of Japan voted unanimously to maintain its key interest rate unchanged at 0.1%. The bank also announced plans to double the scale of a lending program introduced in December. This easing of monetary policy is an attempt to bolster an economy scourged by deflation and is putting the country [...]

Pressure on Obama mounts over Chinese Currency Peg

Somya Gabriel — Tue, 16 Mar 2010 12:58:15 +0000

In the US pressure is mounting on the Obama administration to demand that China allow appreciation of the RMB (or as it is also known, the Yuan) and end a policy that gives Chinese exports an unfair advantage in international markets. Democratic Senate members have begun to draft legislation and are convening hearings on the [...]

Forex market news: Is Greece just the type of the Iceberg?

Somya Gabriel — Mon, 15 Mar 2010 13:36:56 +0000

Even as the Greek Parliament pledged to rein in its out of control budget deficit, briefly easing the anxiety over its detrimental financial problem, Forex online traders across the globe weighed the risks — and potential rewards — posed by the mounting debts of certain European governments.

Will Greece win an Oscar for Best Actor?

Somya Gabriel — Tue, 09 Mar 2010 12:25:24 +0000

Last week, the Greek parliament approved a €4.8 billion austerity plan, aimed at defusing the country’s detrimental debt crisis.

After a landslide victory last October, the ruling socialist party discovered that they had inherited a crisis- at 12.7% of GDP the public deficit was nearly twice as large as originally thought, and was well above the [...]

U.S Economic recovery chugs ahead on the back of a better than predicted Non-Farm Payroll

Somya Gabriel — Mon, 08 Mar 2010 06:54:17 +0000

While the unseasonably cold winter weather may have affected the farming and agricultural sectors of the U.S economy, the Non-Farming sectors escaped the frost as last week’s highly anticipated Change in Non-Farm Employment for the icy month of February came out better than expected.

Last Friday, the forex online market was splashed with a huge [...]

The interest in the interest of the Commodity Based Currencies?

Somya Gabriel — Tue, 02 Mar 2010 12:35:25 +0000

After a relatively calm close for the month of February, the forex online market is in for a very busy week, as new month start off with four central bank meetings.

This week’s quadruple interest rate decision event, kicked offer early this morning with the Reserve Bank of Australia raising the Cash Rate by 0.25bps. [...]

FED Chairman offers a relatively somber view on U.S economic situation

Somya Gabriel — Thu, 25 Feb 2010 13:44:55 +0000

In his first appearance before congress, following his re-appointment last month, Federal Reserve Chairman Ben S. Bernanke offered a relatively somber view of the U.S economic situation before Congress yesterday, despite recent signs of strong growth.

Yesterday Bernanke presented the highly awaited for Federal Reserve’s semiannual Monetary Policy Report to the Congress. The Fed chairman opened [...]

US Fed’s rate hike signals affects the Pound

Somya Gabriel — Mon, 22 Feb 2010 07:45:15 +0000

One of the more interesting developments in the forex online market, in wake of the Fed decision was a rather sharp sell-off in British Pound. As the US Fed’s rate hike signals the possibility of the introduction of a tighter monetary policy, the pound continued to decline on concern that the Bank of England [...]

Canada: Inflation rate soared high

Somya Gabriel — Fri, 19 Feb 2010 07:07:19 +0000

North of the 49th parallel, Canada’s inflation accelerated at its fastest pace in more than a year, as the annual inflation rapidly approached the central bank’s target of 2%. Prices in January rose 1.9% from the previous year, as the monthly CPI reported an increase of 0.3%, as predicted, since December. The majority of these [...]

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