Post Tagged with: "safe haven"
Gold ATMs Going Global – A Sign for Currencies?
Gold to Go, the manufacturer of gold ATMs, is working hard to meet the demand for its vending machines. From a gimmick of two machines operating now, their business will grow to 50 quite soon. This is the result of the rising prices in gold. Is this is a sign for the Euro? For the
EUR/CHF – Wild Fridays – Courtesy of the Bank
The Swiss central bank has increased its interventions in the markets in an attempt to weaken the Swiss Franc. The moves are seen best against the Euro. Here is how it looks on the graph + a few characteristics of these moves. Click to enlarge. Remember that interventions are short lived
Forex Weekly Outlook – November 30 – December 4 2009
The week of Thanksgiving, which was expected to be calm, was very volatile, with new lows in the dollar, that were proved temporary with the Dubai crisis. The upcoming week is already full of important indicators: rate decision in Europe and Australia, GDP from Europe, Switzerland and Canada, and the king of forex: American Non-Farm
Job market – the empty half of the glass – risk aversion takes over
American unemployment rate is now at double digits – 10.2%. Obama’s warning of a rate above 10% comes true. This worse-than-expected release, together with Non-Farm Payrolls triggers fear of a slow recovery for a very extended period – “Safe haven” dollar and yen make gains in a choppy market. The Non-Farm Payrolls disappointed only marginally,
Risk Aversion Turns the Market Over
After the dollar retreated on all fronts, it made a huge comeback in the last 24 hours on fears that the recovery is not near at all. Review of the turnaround and a look towards the final battle. Ben Bernanke went to testify in Washington. Despite very careful wording, he expressed pessimism. Recovery isn’t as
Hangover from Friday Effect – What’s next for the Greenback?
After Friday’s late dollar selling, the markets have allowed the dollar to breath. Will the dollar recover or has the fall stopped temporarily? On Friday, Non Farm Payrolls were better than expected. "Only" 539K jobs were lost in April, contrary to early expectations that were at -615K and later improved to 590K. The good figure
G7 Optimism – Bad for the Dollar
G7 Finance ministers expressed optimism in their meetings this weekend. This optimism ignites risk aversion which isn’t good for the US dollar, and might send other currencies higher against it. Finance ministers of the Group Of Seven met this weekend in Washington DC to discuss the state of the global financial crisis. These finance ministers,
Summers of Hope For The Dollar?
Obama’s senior advisor, Larry Summers, said that the bottom of this recession is already behind us. If his optimism is real, where does it send the dollar? President Barack Obama’s chief of the White House National Economic Council, Larry Summers spoke in a panel in Washington DC, and stated that the economic free fall will end