Hello ! here you are not by accident. You are here, because you would like to earn some money. Everybody are dreaming of work at home, of work, which can you do when you want, of work, when somebody is not heading up and for this get a solid payment. I believe, that you are tired to get up early morning, to work all day and all week and to see how your neighbour is buying new car, presents for wife and children. You are tired to see how he is getting more money than you and how is he working less than you. It's your decision: to work like early or start to earn more money and become successful.
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Sunday, July 26, 2009
Welcome to Super4all
Nassau GOP bests Democrats in county fundraising
Democrats may control Nassau County government, but the county Republican organization still is the king of the fundraising hill.The latest campaign finance reports, filed earlier this month with the Board of Elections, show that Nassau Republicans have nearly $1.5 million in their coffers, while the Democrats have $124,000 for campaign and "housekeeping" accounts for party expenses not directly related to campaigns.
During the past six months, GOP party chairman Joseph Mondello's organization collected $1.2 million beyond the $1.2 million it had in the bank; the party's expenses were $885,000.
Jay Jacobs, Nassau Democratic leader, brought in $567,000, but had only $7,463 in the bank to start the year. The party's biggest expense of the $498,000 it spent was paying back $125,000 in loans that his Timber Lake Management Corp., which runs camps here and upstate, made to the party. But since the start of the year, the party got another $43,500 in loans from Jacobs and his company. And,....
Rick Brand
Suffolk Democrats are far ahead of the county GOP with $266,679 on hand as of mid-July, after raising $295,000 in the past six months and spending $225,000. Republicans showed only $6,510 in the campaign account, a deficit of $5,106 in the Chairman's Club and balance of $20,100 in their housekeeping account.
Gold ends flat after touching 6-week high on weak dollar
Gold futures on the COMEX Division of the New York Mercantile Exchange hit a six-week high on Thursday due to a weak dollar, but closed flat as the surging stock market reduced gold's appeal of safe-haven. Silver and platinum both gained.
Gold price for August delivery gained 1.50 U.S. dollars, or 0.2percent, to finish at 954.80 dollars an ounce while earlier in the session topping as high as 957.50 dollars, the strongest level since June 11.
Buoyed by the weak dollar, gold rose mildly in the morning session. The dollar index, a gauge to measure the greenback's value against six other major currencies, declined as much as 0.38point, or 0.5 percent, weakening the precious metal's attraction as a hedge.
However, a series of positive earnings reports and upbeat data on the housing market buoyed the equity market on Thursday with the Dow Jones industrials rising 188 points to 9,069, above the 9,000 mark for the first time since early January.
Analysts indicated that the big rally in stock market undermined gold's appeal of safe-haven and lured investors to pour their money into stocks.
On the economic fronts, the National Association of Realtors said existing home sales rose for the third month in June, jumping3.6 percent. That fueled hopes that the housing market is stabilizing.
The Labor Department said that its tally of initial claims for unemployment insurance rose by 30,000 to a seasonally adjusted 554,000, slightly above analysts' estimates of 550,000.
September silver finished at 13.84 dollars per ounce, up 7 cents. October platinum rose 12.30 dollars to 1,188 dollars an ounce.
Hands off the dollar
Seven reasons why calls for Bank of Canada intervention in the currency market are misguided
by Eric Lascelles and Shaun Osborne
Markets and newspapers alike have recently been abuzz with speculation that the Bank of Canada might begin intervening in the currency market, after a long hiatus. Inaction at the Bank of Canada’s most recent rate decision poured a teaspoon of cold water onto the notion, but the speculation continues.
We do not believe it would be wise or fruitful for the Bank of Canada to intervene on behalf of the Canadian dollar in an effort to temper its recent strength. There are seven main reasons why.
It is not possible for any country to have perfect control over its currency and interest rates simultaneously. One most float or the whole enterprise is doomed as investors will elect to arbitrage interest rate opportunities between countries, and the resulting tsunami of capital flows overwhelms either the fixed exchange rate or a central bank’s monetary policy independence, if not both.
Australian, N.Z. Dollars Advance, Post Second Weekly Gain
The Australian and New Zealand dollars rose, posting a second weekly advance against the U.S. and Japanese currencies, as stock gains increased investor demand for higher-yielding assets.
The currencies strengthened as the MSCI Asia Pacific Index rose for a ninth day in its longest winning streak since 2004. The Australian and New Zealand dollars also rose as 74 percent of the companies in the Standard & Poor’s 500 Index that reported second-quarter results through yesterday beat analysts’ estimates. Gains in Australia’s dollar were limited on bets the central bank extended sales of the currency to weaken it.
“Good U.S. corporate earnings have been supportive of equities and therefore risk currencies,” said Phil Burke, chief foreign-exchange dealer at JPMorgan Chase Bank in Sydney. “The backdrop is very good for Aussie.”
Australia’s currency increased 0.5 percent to 81.63 U.S. cents at 2:55 p.m. in New York, from 81.20 cents yesterday, and added 1.7 percent this week. The currency gained 0.3 percent to 77.34 yen, posting a 2.3 percent weekly gain.
New Zealand’s dollar climbed 0.4 percent to 65.65 U.S. cents, touching a nine-month high of 66.30 on July 22, and advanced 0.2 percent to 62.18 yen. It rose 1.8 percent against the dollar this week after posting a 2.7 percent gain last week. The kiwi appreciated 2.4 percent against the yen over the past five trading days.
The Australian dollar may advance toward 82.20 cents and 78.20 yen, while New Zealand’s currency may climb to 66.20 cents and 63 yen, according to Burke.
Benchmark Rates
Benchmark interest rates are 3 percent in Australia and 2.5 percent in New Zealand, compared with 0.1 percent in Japan and as low as zero in the U.S., attracting investors to the South Pacific nations’ higher-yielding assets. The risk in such trades is that currency market moves will erase profits.
The Australian dollar may rise above 82.63 U.S. cents, its highest level this year, in coming weeks as the central bank is likely to increase its estimates for gross domestic product, said Richard Grace, chief currency strategist at the Sydney- based Commonwealth Bank of Australia.
The Reserve Bank will probably be among the first central banks to start raising rates, bolstering the currency’s appeal, Grace wrote today in a note to clients.
New Zealand’s central bank will leave the official cash rate unchanged when it meets July 30, according to the median estimate of 10 economists surveyed by Bloomberg News.
Aussie Selling
Gains in Australia’s dollar were limited after the currency touched 82.22 cents yesterday, the strongest level since June 11, on speculation the central bank is selling the currency. The Reserve Bank of Australia made net sales of A$1.9 billion ($1.5 billion) and A$1.4 billion of the Australian dollar in the market in June and May, respectively, the largest monthly sales since February 2004, according to bank data.
“The RBA has probably still been selling into strength in the currency and trimming its gains,” Greg Gibbs, a foreign- exchange strategist at Royal Bank of Scotland Group Plc in Sydney, wrote today. “Nevertheless, given buoyant risk appetite, it should continue to press against the upper part of its range.”
Australia sold today A$499 million of securities maturing in May 2021 at a weighted average yield of 5.79 percent. The bid-to-cover ratio at the auction was 2.4.
Australian government bonds fell for a third day. The yield on 10-year notes added 11 basis points, or 0.11 percentage point, to 5.70 percent, according to data compiled by Bloomberg. The price of the 5.25 percent security due in March 2019 slipped 0.824, or A$8.24 per A$1,000 face amount, to 96.714.
* SendSend * PrintPrint * Add ToAdd To CORRECT:China Development Bank Hong Kong Retail CNY Bond Coupon 2.45% -Source
CORRECT:China Development Bank Hong Kong Retail CNY Bond Coupon 2.45% -Source
("China Development Bank HK Retail Yuan Bond Coupon 2.4%-Source" published at 0533 GMT misstated the coupon rate in the headline and first paragraph. The correct version follows:)
HONG KONG -(Dow Jones)- China Development Bank Corp. set a coupon of 2.45% on the retail portion of its two-year yuan-denominated bonds to be launched in Hong Kong on Tuesday, a person familiar with the matter said Saturday.
China Development Bank plans to raise up to CNY3 billion from the offering, which will be open to both retail and institutional investors, the person said.
Details of the institutional tranche haven't been fixed yet, the person added.
Although China Development Bank transformed into a stockholding commercial bank from a policy lender last year, its bonds will continue to have the same credit rating as Chinese government bonds until the end of 2010. Standard & Poor's and Fitch Ratings have an A+ credit rating on Chinese government bonds.
-By Aries Poon, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=uT5Dk26oJ0wLWmCKIxnhiA%3D%3D. You can use this link on the day this article is published and the following day.
("China Development Bank HK Retail Yuan Bond Coupon 2.4%-Source" published at 0533 GMT misstated the coupon rate in the headline and first paragraph. The correct version follows:)
HONG KONG -(Dow Jones)- China Development Bank Corp. set a coupon of 2.45% on the retail portion of its two-year yuan-denominated bonds to be launched in Hong Kong on Tuesday, a person familiar with the matter said Saturday.
China Development Bank plans to raise up to CNY3 billion from the offering, which will be open to both retail and institutional investors, the person said.
Details of the institutional tranche haven't been fixed yet, the person added.
Although China Development Bank transformed into a stockholding commercial bank from a policy lender last year, its bonds will continue to have the same credit rating as Chinese government bonds until the end of 2010. Standard & Poor's and Fitch Ratings have an A+ credit rating on Chinese government bonds.
-By Aries Poon, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=uT5Dk26oJ0wLWmCKIxnhiA%3D%3D. You can use this link on the day this article is published and the following day.
UK's Darling Confident That Economic Recovery Will Come
UK's Darling Confident That Economic Recovery Will Come
LONDON -(Dow Jones)- U.K. Chancellor of the Exchequer Alistair Darling said Sunday he is confident that the U.K. economy will recover.
Speaking to political commentator Andrew Marr on BBC television he said "I am confident that recovery will come."
He also said that despite continued criticism from the opposition over the U.K. Government's public spending plan, the Organization for Economic Cooperation and Development and the International Monetary Fund had both said the ruling Labour party was right to support the U.K. with spending.
Darling was also questioned over the Government's controversial Value Added Tax cut, but he said the tax would return to its full 17.5% - from the current discounted 15% - at the end of the year, as was planned at the time of the cut.
Darling also answered questions about bank lending. He said that while he was pleased mortgage lending seemed to be increasing, he is concerned over lending to small and medium-sized businesses.
"I am extremely concerned about banks lending to small and medium sized companies," Darling said. "It seems that while the cost of borrowing has gone down charges to smaller companies has gone up."
Darling added that he remains confident that the Labour Party will win a fifth straight election next year.
"I believe that we can win and we will win but we have to come out fighting," he said.
-By Ilona Billington, Dow Jones Newswires; +44 207 842 9452; ilona.billington@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=nbJvNxX%2F8KykEgYSVc9vIw%3D%3D. You can use this link on the day this article is published and the following day.
LONDON -(Dow Jones)- U.K. Chancellor of the Exchequer Alistair Darling said Sunday he is confident that the U.K. economy will recover.
Speaking to political commentator Andrew Marr on BBC television he said "I am confident that recovery will come."
He also said that despite continued criticism from the opposition over the U.K. Government's public spending plan, the Organization for Economic Cooperation and Development and the International Monetary Fund had both said the ruling Labour party was right to support the U.K. with spending.
Darling was also questioned over the Government's controversial Value Added Tax cut, but he said the tax would return to its full 17.5% - from the current discounted 15% - at the end of the year, as was planned at the time of the cut.
Darling also answered questions about bank lending. He said that while he was pleased mortgage lending seemed to be increasing, he is concerned over lending to small and medium-sized businesses.
"I am extremely concerned about banks lending to small and medium sized companies," Darling said. "It seems that while the cost of borrowing has gone down charges to smaller companies has gone up."
Darling added that he remains confident that the Labour Party will win a fifth straight election next year.
"I believe that we can win and we will win but we have to come out fighting," he said.
-By Ilona Billington, Dow Jones Newswires; +44 207 842 9452; ilona.billington@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=nbJvNxX%2F8KykEgYSVc9vIw%3D%3D. You can use this link on the day this article is published and the following day.
Education
Rob Booker recommended reading (Q&A Session Transcript)
Title: Rob Booker recommends what Trading Books you should read.
Author: Rob Booker, Independent Currency Trader of www.Robbooker.com.
Topics: How to pick books that will help you?, How many strategies do you need? The 10 best books on trading and how they can [...]
Automatic Alpha
Title: Automatic Alpha: How to build a winning Trading FOREX system
Author: David J. Lyder, co-founder of iExpertAdvisor
Synopsis: Automatic Alpha is an 80+ page e-book that fully describes the process of developing a winning trading system. After finishing the book, the reader has learned the techniques [...]
The way to Trade Forex
Title: Forex: The way to Trade Forex, discover the successful and profitable trading strategiesAuthor: Jay Lakhani
Synopsis: Learn how to trade forex - A step by step guide. This eBook is packed with powerful and effective Forex Trading [...]
Market Psychology
Bird Watching in Lion Country
Title: Bird Watching in Lion Country - Retail Forex Trading Explained (e-book only).
Author: Dirk du Toit, CEO of DayForex Capital Management
Synopsis: There is no "trading system" that can be learnt by wrote and then applied. This is a blindingly obvious fact [...]
Trade With Passion and Purpose
Title: Trade With Passion and Purpose: Spiritual, Psychological and Philosophical Keys to Becoming a Top TraderAuthor: Mark Whistler
Synopsis: Successful trader Mark Whistler draws from the fields of psychology, spirituality, and philosophy to emphasize how self-honesty, self-esteem, emotional balance, and confidence form the foundation of successful trading. [...]
Forex Strategies
Profiting with Forex
Title: Profiting with Forex
Authors: John Jagerson and S. Wade Hansen
Synopsis: PFX stands for Profiting with Forex, a fun book written by John Jagerson and S. Wade Hansen, with an accompanying website---www.PFXglobal.com.[...]
Opportunities in Calendar Forex Trading Patterns
Title: Opportunities in Calendar Forex Trading Patterns. How knowing when to trade can dramatically improve your foreign exchange profits.
Author: John Forman, Managing Analyst & Chief Trader at Anduril Inc
Synopsis: Learn now what the next few months will bring in forex and profit from it! The foreign exchange market exhibits patterns of price behavior. Opportunities in Calendar Forex [...]
High Probability Trading Setups for the Currency Market
Title: High Probability Trading Setups for the Currency Market
Authors: Kathy Lien and Boris Schlossberg
Synopsis: In this e-book they put together a logical and intelligent approach to currency trading utilizing their latest and best setups. [...]
Forex Trading for Maximum Profit
Title: Forex Trading for Maximum Profit
Author: Raghee Horner
Synopsis: Reader off this book will read it for one simple reason: You want to trade Forex successfully, which is to say you want to be a profitable Forex trader. I'm not going to lose sight of this fact. nIn fact, I can tell you why I chose to take on the painstaking effort of writing my book.[...]
Forex Conquered
Title: Forex Conquered: High Probability Systems and Strategies for Active Traders
Author: John Person
Synopsis: Whether you're a position trader, swing trader, or day trader, Forex Conquered can show you how to successfully navigate this dynamic market by using proven technical analysis techniques.[...]
The Swing Traders Bible
Title: The Swing Traders Bible: Strategies to Profit from Market Volatility
Author: Mark Whistler and Matthew D. McCall
Synopsis: The Swing Trader's Bible provides traders with different strategies to capitalize on market fluctuations. The majority of the time, most markets move sideways, with no discernible long-term up or down trend.[...]
Day Trading and Swing Trading the Currency Market (2nd edition)
Title: Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market MovesAuthor: Kathy Lien
Synopsis: In only a few short years, the currency/foreign exchange (FX) market has grown significantly. With institutions and individuals driving daily average volume past the $3 trillion mark, there are many profitable opportunities available in this arena [...]
Technical Analysis
Ichimoku Charts
Title: Ichimoku Charts: An Introduction to Ichimoku Kinko Clouds
Author: Nicole Elliott
Synopsis: The book covers the history of candlestick charts - explaining the context in which they developed. It then moves on to explain how in the 1940s and 1950s a journalist, with the pseudonym Ichimoku Sanjin [...]
Technical analysis of the currency market
Title: Technical Analysis of the Currency Market
Author: Boris Schlossberg, Fundamental Analyst at Forex Capital Markets
Synopsis: Global currency markets combine unparalleled leverage, high short-term volatility, low execution costs, and significant long-term trends in an atmosphere of laissez-faire [...]
Forex Patterns and Probabilities
Title: Forex Patterns and ProbabilitiesAuthor: Ed Ponsi
Synopsis: In recent years, traders have turned to the foreign exchange market expecting to capture substantial profits. While the high availability of leverage within this arena can improve your chances of making money, ultimately the success of your endeavors depends upon how well you understand and operate within this market. [...]
Forex Basics
The Currency Trader's Handbook
Title: The Currency Trader's Handbook: Strategies for Forex success
Author: Rob Booker
Synopsis: The Currency Trader's Handbook is the first published form of Rob Booker's ebooks on currency trading. Included are money management strategies, trading systems, and other [...]
Hit the Spot
Title: Hit the Spot: How to Tame the Currency Market
Author: Reggie Henkart
Synopsis: It provides new and seasoned traders with a revolutionary, new strategy that is changing the Forex industry in over 80 countries.[...]
Millionaire Traders
Title: Millionaire Traders: The Book
Authors: Kathy Lien & Boris Schlossberg
Synopsis: Everyday, millions of people turn on their computers and try to earn a living in the financial markets. Some are successful, most fail, but the possibility of hitting it big never deters them from trying.[...]
Adventures of a Currency Trader
Title: Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing
Author: Rob Booker
Synopsis: Unlike most of the trading books that I have read, Adventures of a Currency Trader, by Rob Booker, is a work of fiction. However, this doesn't mean that its trading lessons are any less worthwhile. [...]
The Essentials of Trading
Title: The Essentials of Trading, from the basics to building a winning strategy.
Author: John Forman, Managing Analyst & Chief Trader for Anduril Analytics
Synopsis: The financial markets can be a daunting place for someone just getting started. There are so many things you [...]
Trading in the Global Currency Markets
Title: Trading in the Global Currency Markets
Author: Cornelius Luca
Synopsis: The oldest of the financial markets, foreign exchange is also the newest in the contemporary times. The inherent profitability, the limited credit risk [...]
2006 Foreign Exchange & Treasury Management Handbook
Title: 2006 Foreign Exchange & Treasury Management Handbook
Author: Euromoney Yearbooks
Synopsis: Currency has become a highly fashionable topic due to the aggressive weakening of the US dollar in recent years. As the products available from service providers have become varied [...]
Forex Revolution
Title: Forex Revolution
Author: Peter Rosenstreich, principle and foreign exchange trader for Rose Stevons & Company
Synopsis: Every day, more than $1.5 trillion in currency trades are executed. That dwarfs the daily volume of the NYSE, NASDAQ [...]
Day Trading the Currency Market
Title: Day Trading the Currency Market
Author: Kathy Lien, Chief Strategist, FXCM
Synopsis: The currency/foreign exchange (FX) market is by far the largest financial market in the world, with trading volumes surpassing $1.9 trillion a day [...]
The Complete Idiot's Guide to Foreign Currency Trading
Title: The Complete Idiot's Guide to Foreign Currency Trading
Authors: Gary Tilkin and Lita Epstein
Synopsis: As the world's largest financial market, where profits are sought on the differences between global currency exchange rates, many traders [...]
Currency Trading for Dummies
Title: Currency Trading for Dummies: A reference for the rest of us
Authors: Mark Galant and Brian Dolan
Synopsis: This nuts and bolts guide gives you a step-by-step action plan for understanding and trading the Forex market.[...]
The Complete Guide to Currency Trading & Investing
Title: The Complete Guide to Currency Trading & Investing: How to Earn High Rates of Return Safely and Take Control of Your Investments
Author: Jamaine Burrell
Synopsis: In recent years many smart investors have exited the stock market and other investment areas because they have essentially lost control of their investments [...]
Getting Started in Currency Trading
Title: Getting Started in Currency Trading, Second Edition
Author: Michael Duane Archer
Synopsis: An up-to-date introduction to one of today's hottest areas of trading. The Second Edition of Getting Started in Currency Trading is both an introduction and reference tool for beginning and intermediate foreign exchange traders.[...]
The Complete Guide to Day Trading
Title: The Complete Guide to Day Trading: A Practical Manual from a Professional Day Trading Coach
Author: Markus Heitkoetter
Synopsis: Every day, millions of dollars change hands in the markets, presenting the perfect opportunity for people just like you to make significant money and profits through the art of day trading. [...]
The FX Bootcamp Guide
Title: The FX Bootcamp Guide to Strategic and Tactical Forex Trading
Author: Wayne McDonell
Synopsis: This book shows readers how to successfully trade the Forex market on their own. FX Bootcamp's Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy. Readers will then learn how to focus on using this information to create a tactical trading plan--one that will help them pull the trigger to get in and out of a trade.[...]
Essentials of Foreign Exchange Trading
Title: Essentials of Foreign Exchange Trading
Author: James Chen
Synopsis: This currency trading book provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail.[...]
Currency Trading and Intermarket Analysis
Title: Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global MarketsAuthor: Ashraf Laidi, Chief Strategist at CMC Markets and Founder of AshrafLaidi.com
He will be Key Speaker at the ITC'09 Barcelona
Synopsis: While the mechanics of forex markets and the theories underpinning them have been largely explored, there has been little discussion regarding the practical intermarket relationships shaping currencies via interest rates, equities, and commodities. "Currency Trading and Intermarket Analysis" is the first work to provide illustrative and indepth analysis about these subjects.[...]
Sentiment in the Forex Market
Title: Sentiment in the Forex Market: Indicators and Strategies To Profit from Crowd Behavior and Market Extremes
Author: Jamie Saettele
Synopsis: Crowds move markets and at major market turning points, the crowds are almost always wrong. When crowd sentiment is overwhelmingly positive or overwhelmingly negative it's a signal that the trend is exhausted and the market is ready to move powerfully in the opposite direction. Sentiment has long been a tool used by equity, futures, and options traders.
In Sentiment in the Forex Market, FXCM analyst Jaime Saettele applies sentiment analysis to the currency market, using both traditional and new sentiment indicators, including: Commitment of Traders reports; time cycles; pivot points; oscillators; and Fibonacci time and price ratios. He also explains how to interpret news coverage of the markets to get a sense of when participants have become overly bullish or bearish. Saettele points out that several famous traders such as George Soros and Robert Prechter made huge profits by identifying shifts in crowd sentiment at major market turning points. Many individual traders lose money in the currency market, Saettele asserts, because they are too short–term oriented and trade impulsively. He believes retail traders would be much more successful if they adopted a longer–term, contrarian approach, utilizing sentiment indicators to position themselves at the beginning points of major trends.[...]
US Dollar down with optimism triggers demand for carry trades
The US dollar and Japanese yen were the lowest of the majors as investor confidence increased, leading up FX carry trades and sending the DJIA and S&P 500 up approximately 3 %. For proof that the dollar’s drop was caused by risk trends and not by fundamentals, the US data has to be examined. First, the US consumer price index (CPI) went up in excess of what was expected at a rate of 0.7 % in June, triggered by energy prices, although the yearly rate went down to -1.4. For the meantime, the Federal Reserve Bank of New York's "Empire" manufacturing index increased dramatically to a 15-month high of -0.55 in July from -9.41, with a breakdown of the report indicating a increase in prices paid, new orders, and shipments.
Dollar dropping with earnings outdo Fed's increased growth estimates
Risk appetite has seen a quick recovery this week and the growth has had an obvious, damaging influence on the US dollar. This raise in sentiment is probably to reach the top soon. The question is, that if the US dollar is going to set to take the wheel should investment optimism once again stabilize or not. In order to clear things out a bit better, it’s probably wise to understand the source of the latest bullish force. There have been slight developments in a variety of economic pointers and estimates for some weeks also with the plans from the G8 summit held last week, yet these pointers have barely increased outlooks to an imminent push into positive expansion. In its place, market members are probably going to find their resilience from the begining of 2Q corporate earnings season.
Green buck advocates firms on Morgan Stanley Disappointment
Risk appetite was still up to speed of the elemental currents in the Forex market Wednesday. This indication was triggering instability until the beginning of this week. However, from today’s price activities, it may as well be the momentum for clogging and instability. The dollar has cut narrow ranges in opposition to its main counterparts, yet it still act in that way at the rim of a technical cliff. EURUSD is a bit over 100 points away from building new highs for the year, GBPUSD is progressively trending higher to the 1.60 level and NZDUSD has even succeeded to go up to highs that wasn’t there since October. Apparently, this is a circumstance where the market is staying calm and sees if a catalyst decides whether we are going to progressing towards new highs or see sentiment drop take a big turnaround.
Forex Brokers USD/JPY Jogs between our Trend Lines While Playing with 95
Japan's trade balance came in below analyst expectations late Wednesday, yet surging U.S. equities trumped the disappointing data point as we anticipated. A recovery in U.S. corporate performance implies greater demand for Japanese exports in the future, weakening the Yen and improving prospects of a global economic recovery. Even though Japan's trade balance was shy of expectations, we're pretty encouraged by the swift recovery over the past two releases from recession lows. The data reveals export prospects are picking up as stimulus packages ultimately prop up demand for Japanese exports. Employment markets in the developed economies are improving along with consumption, bringing life back to the Japanese manufacturing sector. Japan will release more telling data next week, including retail sales, prelim industrial production, household spending, and the Tokyo core CPI. If the S&P futures can base and continue their ascent while Japanese data points outperform, the USD/JPY could have what it takes to crack our 2nd tier uptrend line.
Yesterday's movement propelled the USD/JPY back above the important 1st tier uptrend line. The currency pair is making a stronger bit for a return to safety in the process. However, the USD/JPY is being held down by our 1st tier downtrend line and the psychological 95 level. It appears investors will need more confirmation before committing the necessary funds for the currency pair to take a more substantial step higher. Nevertheless, Thursday's move was encouraging, placing the USD/JPY in a more comfortable territory technically. Meanwhile, our 1st tier downtrend line along with 7/22 and 7/13 lows create a nice immediate-term support system.
Present Price: 94.76
Resistances: 94.99, 95.73, 96.33, 96.77, 97.20
Supports: 94.49, 93.82, 93.28, 92.90, 92.39
Psychological: 95
New Zealand Dollar May Struggle as Focus Shifts to the Economy
The New Zealand Dollar may struggle to retain last week’s bullish momentum as a series of high-profile economic data releases sees currency traders shifting their focus away from risk appetite to the dismal state of the economy.
New Zealand Dollar May Struggle as Focus Shifts to the Economy
Fundamental Forecast for New Zealand Dollar: Bearish
- Moving Average Marks New Zealand Dollar Resistance Against AUD
- Speculative Sentiment Points to Continued NZDUSD Strength Ahead
The New Zealand Dollar may struggle to retain last week’s bullish momentum as a series of high-profile economic data releases sees currency traders shifting their focus away from risk appetite to the dismal state of the economy. The Trade Balance report is set to show a monthly surplus of NZ$215 million, a sharp reversal lower from the previous month’s record-setting NZ$858 million result and the narrowest reading in positive territory in 5 months. A sharp drop in exports is expected to be the driving force behind the decline, with outbound shipments forecast to drop -14.1% while imports register a modest 3.2% increase. The currency is the likely catalyst behind this dynamic: the Kiwi gained nearly 1% in June after jumping 8% in the previous month, making New Zealand’s goods comparatively cheaper for overseas buyers while boosting domestic purchasing power of foreign products. The release will surely remind the markets of New Zealand’s credit outlook downgrade by Fitch, which cited the “persistently large current account deficit” as a reason for concern about the country’s medium-term growth outlook.
The Reserve Bank of New Zealand’s interest rate announcement later in the week could also present a disappointment. The bank is expected to leave interest rates unchanged at 2.5%, with RBNZ chief Alan Bollard arguing that New Zealand is likely to recover faster than its main trading partners and building expectations that borrowing costs have hit a floor, at least for the time being. The markets appear to be taking him at this word for now, with overnight index swaps pricing in virtually no chance of further reductions this time around. That said, a sharply dovish turn in rhetoric (if not a surprise reduction) would seem reasonable: creating expectations of lower yields could put downward pressure on the New Zealand Dollar and help with adjusting the external deficit as well as offer additional stimulus at a time when the government has scrapped tax cut plans on fears of the ballooning public debt. The current low inflation environment seems to make such a move relatively safe; indeed, Bollard himself has acknowledged that price growth will fall below the 1-3% target range this year.
Finally, risk trends are certainly not guaranteed to be out of the picture despite signs of waning influence in recent days. Short-term studies continue to show a hefty 85.3% correlation between the New Zealand Dollar and the MSCI World Stock Index, leaving the door open for risk appetite to retain its place as a primary catalyst for directional momentum.
New Zealand Dollar May Struggle as Focus Shifts to the Economy
The New Zealand Dollar may struggle to retain last week’s bullish momentum as a series of high-profile economic data releases sees currency traders shifting their focus away from risk appetite to the dismal state of the economy.
New Zealand Dollar May Struggle as Focus Shifts to the Economy
Fundamental Forecast for New Zealand Dollar: Bearish
- Moving Average Marks New Zealand Dollar Resistance Against AUD
- Speculative Sentiment Points to Continued NZDUSD Strength Ahead
The New Zealand Dollar may struggle to retain last week’s bullish momentum as a series of high-profile economic data releases sees currency traders shifting their focus away from risk appetite to the dismal state of the economy. The Trade Balance report is set to show a monthly surplus of NZ$215 million, a sharp reversal lower from the previous month’s record-setting NZ$858 million result and the narrowest reading in positive territory in 5 months. A sharp drop in exports is expected to be the driving force behind the decline, with outbound shipments forecast to drop -14.1% while imports register a modest 3.2% increase. The currency is the likely catalyst behind this dynamic: the Kiwi gained nearly 1% in June after jumping 8% in the previous month, making New Zealand’s goods comparatively cheaper for overseas buyers while boosting domestic purchasing power of foreign products. The release will surely remind the markets of New Zealand’s credit outlook downgrade by Fitch, which cited the “persistently large current account deficit” as a reason for concern about the country’s medium-term growth outlook.
The Reserve Bank of New Zealand’s interest rate announcement later in the week could also present a disappointment. The bank is expected to leave interest rates unchanged at 2.5%, with RBNZ chief Alan Bollard arguing that New Zealand is likely to recover faster than its main trading partners and building expectations that borrowing costs have hit a floor, at least for the time being. The markets appear to be taking him at this word for now, with overnight index swaps pricing in virtually no chance of further reductions this time around. That said, a sharply dovish turn in rhetoric (if not a surprise reduction) would seem reasonable: creating expectations of lower yields could put downward pressure on the New Zealand Dollar and help with adjusting the external deficit as well as offer additional stimulus at a time when the government has scrapped tax cut plans on fears of the ballooning public debt. The current low inflation environment seems to make such a move relatively safe; indeed, Bollard himself has acknowledged that price growth will fall below the 1-3% target range this year.
Finally, risk trends are certainly not guaranteed to be out of the picture despite signs of waning influence in recent days. Short-term studies continue to show a hefty 85.3% correlation between the New Zealand Dollar and the MSCI World Stock Index, leaving the door open for risk appetite to retain its place as a primary catalyst for directional momentum.
New Zealand Dollar May Struggle as Focus Shifts to the Economy
The New Zealand Dollar may struggle to retain last week’s bullish momentum as a series of high-profile economic data releases sees currency traders shifting their focus away from risk appetite to the dismal state of the economy.
New Zealand Dollar May Struggle as Focus Shifts to the Economy
Fundamental Forecast for New Zealand Dollar: Bearish
- Moving Average Marks New Zealand Dollar Resistance Against AUD
- Speculative Sentiment Points to Continued NZDUSD Strength Ahead
The New Zealand Dollar may struggle to retain last week’s bullish momentum as a series of high-profile economic data releases sees currency traders shifting their focus away from risk appetite to the dismal state of the economy. The Trade Balance report is set to show a monthly surplus of NZ$215 million, a sharp reversal lower from the previous month’s record-setting NZ$858 million result and the narrowest reading in positive territory in 5 months. A sharp drop in exports is expected to be the driving force behind the decline, with outbound shipments forecast to drop -14.1% while imports register a modest 3.2% increase. The currency is the likely catalyst behind this dynamic: the Kiwi gained nearly 1% in June after jumping 8% in the previous month, making New Zealand’s goods comparatively cheaper for overseas buyers while boosting domestic purchasing power of foreign products. The release will surely remind the markets of New Zealand’s credit outlook downgrade by Fitch, which cited the “persistently large current account deficit” as a reason for concern about the country’s medium-term growth outlook.
The Reserve Bank of New Zealand’s interest rate announcement later in the week could also present a disappointment. The bank is expected to leave interest rates unchanged at 2.5%, with RBNZ chief Alan Bollard arguing that New Zealand is likely to recover faster than its main trading partners and building expectations that borrowing costs have hit a floor, at least for the time being. The markets appear to be taking him at this word for now, with overnight index swaps pricing in virtually no chance of further reductions this time around. That said, a sharply dovish turn in rhetoric (if not a surprise reduction) would seem reasonable: creating expectations of lower yields could put downward pressure on the New Zealand Dollar and help with adjusting the external deficit as well as offer additional stimulus at a time when the government has scrapped tax cut plans on fears of the ballooning public debt. The current low inflation environment seems to make such a move relatively safe; indeed, Bollard himself has acknowledged that price growth will fall below the 1-3% target range this year.
Finally, risk trends are certainly not guaranteed to be out of the picture despite signs of waning influence in recent days. Short-term studies continue to show a hefty 85.3% correlation between the New Zealand Dollar and the MSCI World Stock Index, leaving the door open for risk appetite to retain its place as a primary catalyst for directional momentum.
Australian Dollar May Remain Range Bound If Risk Appetite Fades
The Australian dollar was stuck in a tight range between 0.8100- 0.8200 throughout most of the week despite a bullish outlook from the RBA and a global equity rally. The minutes from the central bank’s July policy meeting showed that the committee expects the economy to gradually recover by the end of the year on the back of lower interest rates, government stimulus and household spending.
Australian Dollar May Remain Range Bound If Risk Appetite Fades
Fundamental Outlook for Australian Dollar: Neutral
- Producer prices fell 0.8% in the first quarter - the most on record
- Consumer prices fell to 1.5% from 2.5% on an annual basis in the second quarter
- The RBA minutes show growth expectations by year end
The Australian dollar was stuck in a tight range between 0.8100- 0.8200 throughout most of the week despite a bullish outlook from the RBA and a global equity rally. The minutes from the central bank’s July policy meeting showed that the committee expects the economy to gradually recover by the end of the year on the back of lower interest rates, government stimulus and household spending. On the economic front we saw producer prices drop by a record 0.8% in the second quarter and consumer prices fell to a 10 year low of 1.5% from 2.5% on an annualized basis. However, we saw inflation rise by 0.5% on the quarter with the core reading reaching 0.8% quarterly and only falling to 3.6% yearly. Therefore, we may have seen an end to the accommodative easing policy from the RBA which should start top raise interest rate expectations for the currency which is already one of the high yielders.
The economic docket will give us some insight into future activity with the Conference board leading index and the NAB business confidence readings on tap. A sharp improvement in both indicators is realistic given the improvement in the economy over the second quarter which could generate bullish Australian dollar sentiment. An expected 8.0% improvement in building approvals may add to the improving outlook for economic growth as lower interest rates is expected to have spurred activity. The TD securities inflation report may have the most market moving potential as a rise in prices could give a boost to interest rate expectations and generate bullish price action. However, we must keep an eye on risk appetite this week as a pull back in equities could weigh on the high yielder. There is also very solid resistance ahead with the yearly high of 0.8266 and the 61.8% Fibo of 0.9852-0.6009 at 0.8392. If we see those levels hold then the AUD/USD could look to erase recent gains
US Dollar on the Brink of a Trend Defining Plunge Ahead of 2Q GDP
It was a tenuous week; but the dollar was able to ultimately hold its own through the close. However, just because momentum behind the earnings-driven rally in risk appetite has stalled does not mean that the world’s most liquid currency has avoided a collapse all together.
US Dollar on the Brink of a Trend Defining Plunge Ahead of 2Q GDP
Fundamental Outlook for US Dollar: Bearish
- Fundamentals support a recovery in US and global growth, but how does risk appetite factor in?
- Bernanke sees signs of stabilization, calls focus on the deficit
- Do technicals call for a dollar collapse or recovery?
It was a tenuous week; but the dollar was able to ultimately hold its own through the close. However, just because momentum behind the earnings-driven rally in risk appetite has stalled does not mean that the world’s most liquid currency has avoided a collapse all together. Sentiment winds have died down; but they can easily jostle the safe-haven dollar should another economic catalyst surface. This makes for an uncertain future when combined with the fundamental influence that the 2Q GDP report will have on the currency. Now, not only do traders have to interpret the data, they will also have to judge whether it has a greater impact on risk appetite or growth considerations for the beleaguered dollar.
Looking ahead to next week, the most immediate threat to the greenback’s stability is the intensity and direction of risk appetite. While this currency is deeply mired in speculation surrounding the economy’s leading or lagging growth potential, interest rate expectations, and deficit projections among other influences; risk appetite has proven itself to be insuperable. With the Federal Reserve vowing to keep the benchmark lending rate at levels that insure a carry status when conditions do turn around and politicians ensuring the economy will struggle with record levels of debt for years to come, there seems little doubt that the dollar will maintain its position on the opposite of risk appetite. But, considering the stalled progress most of the dollar and yen crosses saw last week; is there a strong shift in sentiment in the works? With EURUSD and GBPUSD just off of key levels of resistance, the pressure is growing. However, the primary source of momentum this past week – the second quarter earnings season – is already on the decline. If left up to the markets alone, equities have already forged new highs for the year; but commodities, fixed income and risk-sensitive currency pairs have not pushed to comparable levels. Oddly enough, one of the most likely catalysts for risk going forward also happens to be the most attention grabbing indicator on the US docket: GDP.
According to economists forecasts, the world’s largest economy contracted at a 1.5 percent on an annualized pace through the second quarter. This would be a marked improvement from the 5.5 percent and 6.3 percent rate of the recession through the first quarter of 2009 and fourth quarter 2008 respectively. This would certainly confirm policy officials expectations for a return to positive growth by the end of this year or beginning of the next; but through the near-term it is still a call for speculation to rank the economy’s performance against that of its major counterparts. China recently reported a sharp advance to a 7.9 percent pace of expansion while the UK printed a record 5.6 percent contraction. And, then there are still those economies that have yet to report their numbers. Japan suffered a record-breaking 14.2 percent slump through the first quarter, but is expected to snap back according to BoJ and Cabinet officials. The Euro Zone awaits it August 13th release, but the Bundesbank has already stated Germany saw only a ‘slight contraction’ through the second quarter. This will increasingly become a consideration of nuance.
The other facet of the US 2Q GDP release is that it will be accepted as a gauge of global growth. This further complicates the issue. Should the reading be good, the influence on risk appetite could outweigh the implications for US returns and actually drag the dollar down; and vice versa. Another important consideration is the timing of this release. Due Friday, speculators may decide to move the dollar before the data crosses the wires. If this is the case, the GDP report could factor into long-term projections but not short-term volatility.
British Pound May Find Support On Improving Housing Market
British Pound May Find Support On Improving Housing Market
Fundamental Outlook for British Pound: Neutral
- U.K. GDP contracted by 5.6% annually, which was the most since records began in 1955
- U.K. Retail Sales rose more than expected by 1.2%, Led by a 4.7% increase in textiles
- BoE voted 9-0 to keep rates and QE measures unchanged
The British pound ended a week of choppy price action heading lower as the 2Q GDP preliminary reading showed a deeper than expected contraction of 0.8% against expectations of 0.3%. Economic growth on the year dropped by a 5.6% which was the most since record keeping began in 1955. The growth figures raise concerns that the BoE would need to add to their quantitative easing efforts in order to ensure an economic recovery. The release of the MPC’s minutes from the July meeting showed that after considering additional measures the committee unanimously voted to stand pat but would review their alternatives again in August when they release their quarterly inflation report. A 1.2% increase in retail sales spurred hope that domestic consumption would start to improve as non-food sales rose 1.6% pointing to an increase in discretionary spending. However, elevated unemployment levels and the service sector declining by 1.0% in the second quarter will make future growth challenging.
Although the drop in growth is alarming, the improving outlook for the global economy which was evident in the massive rally in equities during the week could keep the MPC on hold. Bank of England Deputy Governor Charles Bean said this week that the economy may have stopped shrinking which could signal the potential for an improvement in the central bank’s growth estimates when they release their latest report on August 12. The growth numbers and the corresponding inflation outlook will determine the future course of action.
The economic calendar this week will give us further insight into the U.K. housing market and prevailing credit conditions. The Nationwide Building Society is expected to show that house prices rose 0.2% in July as thawing credit markets are underlining demand. Indeed, mortgage approvals are forecasted to rise to 47,000 from 43,400 in June which would be the highest since April, 2008 but still far below the ten year average of 97,000. The BoE lending report mortgage lending was showing sign of improving but that credit for consumers and businesses remains a challenge. The GBP/USD has been trading at the top of its recent range of 1.6000-1.6700 which could leave it susceptible to a move lower. However, we have seen solid near-term support from the 20-Day SMA at 1.6371, which is starting to converge with the 50-Day SMA at 1.6260- a level that has held since March
Japanese Yen Looks for the Next Engine for Risk Appetite
Direction from the Japanese yen is often the product of risk appetite; and the fundamental outlook for next week doesn’t suggest this essential correlation will break any time soon. However, this connection may actually complicate the future for speculators rather than make it more straightforward.
Japanese Yen Looks for the Next Engine for Risk Appetite
Fundamental Forecast for Japanese Yen: Neutral
- Earnings season draws to a close; but where does that leave risk appetite?
- Japan’s trade balance improves as both imports and exports plunge
- Yen crosses don’t offer a clear cut technical outlook
Direction from the Japanese yen is often the product of risk appetite; and the fundamental outlook for next week doesn’t suggest this essential correlation will break any time soon. However, this connection may actually complicate the future for speculators rather than make it more straightforward. The primary source of what has essentially been a market-wide advance in risk appetite these past two weeks seems to have petered out. Earnings releases are in decline and there are very few individual releases on the docket that can initiate a global shift in sentiment on its own. Among other potential catalysts – like growth speculation – there are many contingencies and shades of gray that could make the yen a very difficult currency to trade going forward.
First and foremost, the market will have to reconcile its predilection for earnings data. Ever since Goldman Sachs reported record profits through the second quarter (a strong sign considering it is a financial firm, struggling with a global recession and it had just repaid a rescue loan from the US government), market participants have been putting their sidelined funds back into the capital markets to make a competitive return. However, through the end of this past week, we have seen upside surprises diminish and the notoriety of those companies names attached to the earnings reports recede. Looking back on the week four Fed ‘Stress Tested’ banks report losses and many more blue chips missed forecasts. Looking ahead, there are very few major reports due; but more importantly, there are far fewer days when a group of notable earnings releases will be reported at the same time (and therefore can generate enough influence to catalyze risk appetite. One of the last opportunities for a earnings related swell is on Thursday when ExxonMobile, MetLife, Walt Disney, Dow Chemical, Travelers and Colgate are scheduled to release.
If we are to see the market move away from earnings, where should we expected the market’s drive to come from? Sentiment can be a catalyst of its own. Left to their own devices, speculators are capable of reviving and breaking major trends. Equities across the world were able to capitalize the rise in optimism over the past two weeks and record new highs for the year. If the market decides that this has turned the tides for yields and investment flows, the rest of the markets may look to play catch up and in turn leverage risk appetite in the process. There may also some fundamental factors choosing a rise or fall in sentiment. There are many growth-related indicators on the docket to feed the outlook for the world’s recovery; but it is Friday’s US GDP figure that will truly establish the progress of the global economy. The consensus calls for a significant moderation of the nation’s contraction. However, whether we receive a positive or negative surprise (or no surprise at all), that is a long time to wait when market conditions seem to require an immediate resolution
Fundamental Forecast for Euro: Bearish
The Euro looks vulnerable in the week ahead as headline inflation figures point to the increasing likelihood of deflation while a the US Treasury holds a record-setting bond auction that stands to boost the Dollar at the expense of the single currency. Germany’s Consumer Price Index is set to show the annual pace of inflation turned negative for the first time in 23 years in July after holding at a standstill in the previous two months. The broader Euro Zone measure of consumer prices has already turned negative, shedding -0.1% in June and likely to slip another -0.4% in July. If expectations of falling prices become entrenched, the currency bloc could be facing a long-term period of stagnation as consumers and businesses are encouraged to wait for the best possible bargain and perpetually delay spending and investment.
For their part, the European Central Bank has seemingly struggled to formulate an effective policy response to the deflationary threat thus far. Jean-Claude Trichet and company have focused on banks as the vehicle through which to make money cheaper and put a floor under falling prices, promising unlimited lending to the region’s financial institutions including an unprecedented 442 billion euro in 12-month bank loans. The ECB will also implement a 60 billion bond-buying scheme. To the central bank’s credit, borrowing costs have indeed moved lower: although the ECB publicly maintains target interest rates at 1%, it has allowed the average cost of overnight lending (referred to as EONIA) to drift far below that. Indeed, borrowing in Euros has been consistently cheaper than doing so in British Pounds since late June, even though the Bank of England’s stated interest rates are substantially lower at 0.5%. However, the lower cost of credit between banks has not translated into lending, and so has offered little stimulus to the overall economy. Indeed, loans to Euro Zone businesses and households grew just 1.8% in May, the lowest since records began in 1991. Banks may be choosing to hang on to cash as a buffer against $1.1 trillion in as yet unrealized losses linked to the subprime mess, according to the IMF, as well as the fallout from looming defaults and/or devaluations among the EU’s newly-minted central European members. In any case, the door is open for traders to punish the Euro as the ECB’s inability to ensure that looser monetary conditions translate beyond the interbank market make deflation all but certain.
An unprecedented bond auction in the United States may also weigh on the single currency. The US Treasury’s announced last week that it will sell a record $115 billion in bonds next week in a bid to help finance the rapidly growing public deficit, pushing 10-year notes to register the largest daily loss in nearly seven weeks and sending yields to the highest level in a month. We have argued for some time that the US Dollar will benefit as the government floods the market with new debt: Treasury prices will head sharply lower, putting tremendous upward pressure on the long-term interest rates. This will make USD-denominated assets attractive to yield-seeking investors, driving demand for the greenback. Because the Euro is the second-most traded currency after the greenback, it often serves as the de-facto anti-Dollar, with short term studies showing a hefty -85.8% correlation between average indexes of the two units’ values. This means that any meaningful turn in sentiment in favor of the US Dollar will weigh heavily on the Euro, not just in the pairing against the greenback but across the board.
Euro Threatened with Mounting Deflation Risk, US Bond Auction
The Euro looks vulnerable in the week ahead as headline inflation figures point to the increasing likelihood of deflation while a the US Treasury holds a record-setting bond auction that stands to boost the Dollar at the expense of the single currency.
Thursday, July 23, 2009
Sell the Pound Against the Euro and Dollar
The British Pound was weak against major currencies as an economic research 
institute projected continued declines in GDP and housing prices and warned that a substantial recovery may not occur for several years. The National Institute of Economic and Social Research projected at least two additional quarters of GDP contraction and forecast declines in housing prices stretching to at least 2012. Meanwhile, press reports of additional funding needs for major banks Barclays and RBS put additional pressure on the Pound. The U.K. currency lost ground against the Dollar, Euro, and Yen.
We consider it likely that the Pound will experience on-going weakness over the coming months. Economic data suggest that Britain is the weakest of the major economies and the pace of recovery will lag that of the U.S. and EU. Retail sales and GDP data to be released Thursday and Friday, respectively, are expected to show continued problems for the U.K. economy. We see no catalyst in the immediate future for improvement in either the macroeconomic picture for the U.K. nor in the performance of the Pound. We recommend selling the Pound against both the Euro and the Dollar.
Pound Declines as Terrorist Attack Drives Traders to Safety
The pound posted its first day of losses versus the U.S. dollar this week as explosions in Jakarta, the capital of Indonesia, attracted investors to the safety of the greenback, stopping a five-day rally that brought the pound up on renewed economic hopes.
Chilean Peso Climbs on Copper Price
Chile’s is one of the world’s main copper producer and today this metallic commodity went up after a U.S. report, pushing the Chilean peso to higher levels as risk aversion declined among traders.
Brazilian Real Posts Biggest Gain in Two Months on Optimism
The Brazilian real, a high-yielding emergent market currency, ended this week’s session climbing massively against the U.S. dollar, as renewed optimism among traders attracted foreign investments, pushing the Brazilian currency up.
Dollar Slides as Optimism Attracts Investors to Yield
The U.S. dollar posted the weakest performance versus the euro since May as corporate earnings in North America came better-than-expect and U.S. government reports brought optimism to equities and currency markets, attracting investors to high-yielding options, consequently damping demand for the
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