Post Tagged with: "interest rates"
Yen expected to dive following the Budget Proposal
The Japanese government revealed the new budget that is planned for the next fiscal year. It features an increase of 6.6% to 88.5 trillion Yen – about 990 billion dollars 0 the highest budget ever. This move contradicts the government’s long term effort to reduce the budget and to reach a balanced budget by 2011.
Forex Daily Analysis – December 19th 2008
The big news this morning comes from Japan – the BOJ reduced the interest rate to 0.1% – quite symbolic. Japanese Yen traders aren’t used to see moves in interest rates – this is the second one in the recent two months. The Bank of Japan also announced that it would flow some cash into
Dollar makes a comeback
The US dollar retracted against all currencies in the European and North American session. THe EUR/USD is back at about 1.44, the GBP/USD is at around 1.53 and the USD/JPY is above 89. Also other pairs, such as the USD/CAD have turned in favor of the greenback. This comes after a fews days of beating
Forex Daily Analysis – December 18th 2008
The US dollar continues to plunge against all the currencies. Even the pund that lagged behind made a move forward. GBP/USD now above 1.56. The EUR/USD crossed another resistance line at 1.44, and aimed to breach the 1.45 line. Curretly it retracted back a little bit. Today’s imprtant data is Germany’s IFO Business Climate Survey,
Dollar plunges even lower
The US dollar plunges further down today, hitting a new low with the Japanese Yen. USD/JPY is at 87.92, the lowest since August 1995. A strong move was also made by the European currency – the EUR/USD moved 2.3% up to 1.437. Only the pound failed to make a big move today, hurt by the Claimant
As low as possible (almost)
Ben Bernanke made a sharp move – he lowered the US interest rate to almost the lowest possible value: 0.25%. One step further, and it’s zero – nothing. The sharp 0.75 reduction in the overnight rate was anticipated by some traders, but most of them were expecting a somewhat more moderate cut of 0.50%. The
Forex Daily Analysis – December 10th 2008
The US dollar continues to weaken, amidst a growing notion that not every financial sector will be bailed out by the Federal Reserve, or the American government. This notion fueled a fear of a wave of bankruptcies. Yesterday’s Consumer sentiment data from the USA was much lower than last month’s figure. A drop in consuming
Deteriorating oil prices should weaken Yen
The Japanese Yen has gained a lot of ground in the past few months. The Yen became stronger when the US dollar lost ground to other currencies, and got even stronger when the dollar strengthened against these currencies. Currently, 1 US dollar is worth only 92.71 Yen. This valuation is at a very low point