Latest Currency News Continued - page 494
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Turkish Lira Currency Prediction - Lira Weighed Down by Interest Rate Predictions
10 Feb 2011 at 4 PM - Written by John Cameron
STORY LINK Turkish Lira Currency Prediction - Lira Weighed Down by Interest Rate Predictions
The Turkish Central Bank’s Monetary Policy Committee is due to meet next Tuesday to decide on policy for the coming month. The New Turkish Lira weakened during today’s trading session on speculation that the meeting will herald a further interest rate cut. The Turkish MPC has chosen to cut base rate by 75 basis points in the last two meetings, leaving current rates at a record low of 6.25%.
Meanwhile, Turkey’s ISE...
CATEGORIES: Pound Lira Forecasts Turkish Lira Forecasts
Indian Rupee Market Report - Rupee Suffers Losses as Risk Sentiment Ebbs
10 Feb 2011 at 11 AM - Written by John Cameron
STORY LINK Indian Rupee Market Report - Rupee Suffers Losses as Risk Sentiment Ebbs
In common with the majority of leading Asian currencies, the Indian Rupee trended downwards during last night’s trading session. This weakening off was partly driven by a poor performance in Indian equities markets which saw the benchmark Sensex Index lose over 120 points in the early part of the session. Selling pressure on the Rupee was accentuated as Indian Oil Refiners bought US Dollars, causing a shift of Rupees into US...
CATEGORIES: Indian Rupee Forecasts Pound Rupee Forecasts
Today's Currency Exchange Prediction - Risk Sentiment Worsens
10 Feb 2011 at 9 AM - Written by John Cameron
STORY LINK Today's Currency Exchange Prediction - Risk Sentiment Worsens
The benchmark MSCI Asian Index saw losses of 0.8% last night as stock markets reacted to yesterday’s comments by Federal Reserve Chairman Ben Bernanke and some worrying Australian unemployed figures. Initially, last night’s Australian labour figure appeared positive, showing that unemployment had stayed at 5%, whilst 24,000 new jobs were created in January. However, on closer inspection, analysts aired concerns that nearly all...
CATEGORIES: Daily Currency Updates Australian Dollar Forecasts
Foreign Currency Predictions - USD, EUR, GBP, JPY, NOK, AUD, NZD, CAD, ZAR, CHF
9 Feb 2011 at 5 PM - Written by John Cameron
STORY LINK Foreign Currency Predictions - USD, EUR, GBP, JPY, NOK, AUD, NZD, CAD, ZAR, CHF
Crude oil resumed its rally today following a downward blip yesterday on the back of a hike in Chinese interest rates. The US equities rally looks to have stalled today and little hope of an increase to interest rates. SHORT-TERM OUTLOOK – Neutral.
The ECB looks to be reaching a consensus on a bail-out fund to tackle distressed assets in struggling nation states. Improved sentiment towards...
CATEGORIES: Australian Dollar Forecasts American Dollar Forecasts
Norwegian Krone Update - Oil Price Wobble Hits Krone
9 Feb 2011 at 4 PM - Written by John Cameron
STORY LINK Norwegian Krone Update - Oil Price Wobble Hits Krone
Statoil, the Norwegian oil and gas producer has announced a net profit figure of NOK9.7Bn for quarter 4, 2010. This represents a year-on-year rise of 37%. At first glance, this appears to be a healthy improvement, however oil analysts had predicted that the figure would come out at NOK12.12Bn, so in relative terms it proved to be a disappointment. The increase in profits was driven by the rally in oil prices in the second half of...
CATEGORIES: Norwegian Krone Forecasts
Euro Update - Debt Issues Remain for Single Currency
9 Feb 2011 at 2 PM - Written by John Cameron
STORY LINK Euro Update - Debt Issues Remain for Single Currency
Eurozone sovereign debt issues continue to cast a shadow over the Euro, with uptake for recent bond auctions in Ireland and Spain causing concern amongst analysts. European Financial Stability Facility Chairman Klaus Regling is due to make a set-piece speech later today. This will be closely watched by institutional investors who hope that he will suggest positive action by the EFSF to guarantee distressed assets in Ireland,...
CATEGORIES: Euro Forecasts Pound Euro Forecasts
Daily Foreign Currency Exchange Rate Forecast - Sterling Remains Under Pressure
9 Feb 2011 at 12 PM - Written by John Cameron
STORY LINK Daily Foreign Currency Exchange Rate Forecast - Sterling Remains Under Pressure
The People’s Bank of China surprised the markets yesterday by increasing interest rates for the third time since the Autumn. China’s headline one-year lending rate was hiked from 5.81% to 6.06% with effect from today. China’s 12-month deposit rate was also upped from 2.75% to 3.00%. Initially, markets reacted to the tightening of Chinese monetary policy by turning away from growth-driven assets, with the price of a barrel of...
CATEGORIES: Daily Currency Updates Australian Dollar Forecasts
South African Rand Bucks Recent Downtrend
8 Feb 2011 at 4 PM - Written by John Cameron
STORY LINK South African Rand Bucks Recent Downtrend
The Rand has suffered significant losses against all the majors over the last six weeks. Since the turn of the year, the Rand has weakened from 6.58 against the US Dollar to trade above 7.31 at the end of last week. These losses have been partly attributable to comments from policy makers in South Africa who suggested that a weaker Rand was desirable. This has led to rumours in the market that the South African Central Bank is...
CATEGORIES: Pound Rand Forecasts South African Rand Forecasts
Norwegian Krone Suffers as Crude Oil Drops
8 Feb 2011 at 3 PM - Written by John Cameron
STORY LINK Norwegian Krone Suffers as Crude Oil Drops
The Norwegian Krone has suffered a poor seven days on the currency markets as it continues to give up some of the gains it has made over the last two months. At the end of last November, the Krone was trading at above 6.2000 against the US Dollar on the wholesale markets. It briefly broke down through 5.7000 last week on the same market, but recovered to trade at 5.8000 yesterday.
These near term losses have been primarily...
CATEGORIES: Norwegian Krone Forecasts Pound Norwegian Krone Forecasts