Asian Markets Hammered By Fed Announcement, Weak China Factory Activity
June 20 2013 2:39 AM EDT
Asian markets fell sharply on Thursday as the FOMC signaled an end to monthly bond-buying on Wednesday and on weak China factory output data.
Indian Rupee Hits New Low Against USD
June 20 2013 1:23 AM EDT
The rupee fell to a new low against the dollar after the FOMC suggested the Fed pull back on its bond-buying program.
India's RBI Keeps Key Rates Unchanged
June 17 2013 1:24 AM EDT
India's central bank left benchmark rates untouched on Monday as softening inflation is offset by currency and deficit concerns.
Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD
June 14 2013 1:41 PM EDT
Consumer sentiment in U.S. declines from six-year high Sterling dips against dollar after hitting 4-month peak Yen rises after BoJ minutes indicate monetary-stimulus limits
Euro Expected to Weaken Over the Next Few Months
June 14 2013 8:46 AM EDT
The euro remained strong at $1.33 on Friday despite sinking government bonds which have been responding to concern that central banks around the world will pull back on their stimulus programs. Although bonds around the world have dropped, it seems that the weaker eurozone countries have been hit the hardest. The recent drop led many to believe that countries like Spain, Italy, Portugal and Greece may see massive swings in their bond markets in the future. After the European Central Bank pledged to do “whatever it takes” to keep the eurozone together and support markets, bonds in those countries rallied and their yields improved. However over the past few weeks they have plummeted. As central banks ease up on the cash they have been injecting into the market, the eurozone's weaknesses are likely to be exposed.
Nikkei Plunges To Bear Territory As Asian Markets Fall Again
June 13 2013 3:55 AM EDT
Persisting doubts about the Fed’s next move and disappointment over Shinzo Abe’s recent policies sent Asian stocks to fresh lows on Thursday.
Senior BoE Official Warns Of A Mega Bubble In Govt Bonds
June 13 2013 2:24 AM EDT
A senior BoE official warned of a major bond bubble threat while the BoE said the consequences of raising rates too quickly would be severe.
Foreign Exchange Scandal Sparks Preliminary Probe By UK
June 12 2013 1:36 PM EDT
Reported manipulation of a key foreign exchange benchmark has drawn extra scrutiny from a UK financial regulator.
German Court to Decide If ECB's Bond Buying Plan Infringed on Bundesbank's Mandate
June 12 2013 7:48 AM EDT
Court proceedings in Germany began after more than 35,000 Germans filed a complaint against the European Stability Mechanism, claiming it violates the nation's central banking mandate. The trial has been widely covered by German media as policy makers argue over whether or not the European Central Bank is out of line.
India's Central Bank, Govt Check Rupee Fall
June 12 2013 2:45 AM EDT
The recent drastic fall in the Indian rupee was arrested after the country’s central bank and its government stepped in.
Indian Rupee Falls To New Low, Puts Central Bank In A Fix
June 11 2013 3:22 AM EDT
The Indian rupee's continuing decline to record lows reduces chances of a rate cut, which is required to help revive India's slowing economy.
Indian Rupee Falls To Historic Low Against Dollar
June 10 2013 2:28 AM EDT
The Indian rupee, or INR, on Monday plunged to a record low of 57.77 against the U.S dollar, a year after touching its previous historic low.
Jim Rogers: Yuan Could Appreciate 500% In Next 30 Years
June 06 2013 11:27 AM EDT
But Chinese forex experts are not as confident.
Euro Strong Ahead of ECB Meeting
June 06 2013 8:48 AM EDT
The euro ticked up on Thursday morning ahead of the European Central Bank's June policy meeting. The common currency traded at $1.31 despite Wednesday's reports that another of its “core” economies slipped into a recession. Finland, considered to be among the eurozone's most powerful economies, became the ninth eurozone nation to post two consecutive quarters of economic contraction.
Possible Devaluation Of The Euro Casts A Shadow Over Gold’s Future
June 06 2013 8:10 AM EDT
As the European Union struggles with rising unemployment they now have to face a future of increased competition from the Japanese as they actively devalue the Yen. The new government in Japan, under the Premiership of Shinzo Abe, has managed to devalue the Yen by round 20% so far. In the short term this devaluation should boost Japanese exports as their goods are available at a substantial discount. This action mirrors that of the United States as they continue with their programme of Quantitative Easing. The United Kingdom has also joined in this ‘race to the bottom’ and has managed to reduce the value the British Pound.
A Glimmer of Hope in Eurozone PMI Data
June 05 2013 9:09 AM EDT
The euro remained steadily at $1.30 on Wednesday morning after Markit's Eurozone Composite PMI showed that business activity in the eurozone picked up in May. This marks the second straight increase for the region, something politicians and policymakers are likely to celebrate.
THE GOLD BULL VS THE PAPER TIGER
June 03 2013 5:03 PM EDT
That's all, folks. One look at the headlines will tell you the gold bull market is officially over: the stock market is booming, a modest recovery of the US economy is underway, and the dollar is dominating the forex. Time to sell your bullion and get back into US stocks!
South African Rand Falls Fastest Against US Dollar
May 31 2013 12:30 PM EDT
The currency's new low, 10.13 rand per U.S. dollar, is part of a broader investor sell-off in 20 emerging market currencies.
Euro Near Two Week High on Positive Data
May 31 2013 8:43 AM EDT
The euro remained above $1.30 on Friday morning after climbing on Thursday to overtake the $1.30 mark for the first time in over two weeks. The common currency strengthened after a report from the eurozone showed that consumer and business sentiment improved. The Wall Street Journal reported that the European Commission's Economic Sentiment Indicator climbed to 89.4 in May, the figure's first advance since February. The euro found a boost from the data as many saw the improvement as a signal that the eurozone economy was finding firmer ground.
Youth Unemployment Tops Eurozone Priorities
May 29 2013 10:31 AM EDT
The euro dipped below $1.29 on Wednesday as investors waited for unemployment data from Germany, the eurozone's largest economy. The data is expected to shed light on the state of the German economy, and could influence the European Central Bank's next policy move.