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Daily Exchange Rate Forecasts & Currency News

Latest Currency News Continued - page 502

Welcome to Currency News. Our aim is simple: deliver expert financial comment and analysis on the world currency markets and exchange rates. The latest currency news, exchange rate forecasts, currency predictions and forex data at your fingertips. International payments? Maximise your foreign currency transfers today.

Latest Currency News Headlines

Norwegian Krone Update - Oil Price Wobble Hits Krone

9 Feb 2011 at 4 PM - Written by John Cameron

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

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

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

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

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

Chinese Rate Hike Hurts the Canadian Dollar

8 Feb 2011 at 3 PM - Written by John Cameron

The Canadian Dollar has lost ground against the 16 most-traded currencies following China’s decision to raise its interest rates for the third time since October, 2010. The People’s Bank of China announced that its headline 12 month lending rate will increase to 6.06 percent from 5.81 percent, as of tomorrow. The one-year deposit rate is set to increase to 3 percent from 2.75 percent. Last night’s Chinese rate...

CATEGORIES: Canadian Dollar Forecasts

Kiwi Dollar Gains as Risk Sentiment Spikes

8 Feb 2011 at 2 PM - Written by John Cameron

The New Zealand Dollar gained ground against a basket of currencies during last night’s Asian session. This was largely thanks to a positive Asian equities session, which saw the MSCI Asia Pacific Index gain 0.5%. This forward move for Asian stock markets was largely driven by last night’s better-than-anticipated Japanese Trade figures. Analysts had expected the Japanese current account surplus to grow by ¥1,130.0Bn in...

CATEGORIES: Pound New Zealand Dollar Forecasts New Zealand Dollar Forecasts

US Dollar is Weighed Down by Improved Risk Sentiment

8 Feb 2011 at 12 PM - Written by John Cameron

Initial impressions of last Friday’s Non-Farm Payroll figure for January were that it showed a concerning underlying weakness in the US labour market. At face value, the headline figure of 36,000 new jobs being created in the month versus analysts’ expectations of 146,000 was highly disappointing. The US Dollar gained ground across the board immediately after the release as risk sentiment in the markets ebbed. However, the...

CATEGORIES: Pound Dollar Forecasts American Dollar Forecasts

Upturn in Risk Appetite Hurts US Dollar

8 Feb 2011 at 9 AM - Written by John Cameron

The US Dollar lost ground against the majority of major currencies during last night’s Asian session. Asian equity markets traded into positive territory, signalling an upturn in appetite for risk which in turn caused institutional investors to move away from the safe-haven of Dollar-denominated assets. The improvement in risk sentiment was partly due to the better-than-expected Japanese Current Account figure for December...

CATEGORIES: Pound Euro Forecasts Pound Dollar Forecasts Pound Yen Forecasts Euro Forecasts

Australian Dollar Claws Back Losses

8 Feb 2011 at 9 AM - Written by John Cameron

The Australian Dollar lost ground during early trading this week. This renewed weakness was partly driven by disappointing Australian retail sales figures. Friday’s U.S. Non-Farm Payroll figures had a significant effect on the Australian Dollar’s as traders adjusted their US Treasury Bill positions to take account of seemingly soft US Labour market data. This caused the Australian Dollar to lose ground. Trading was...

CATEGORIES: Pound Australian Dollar Forecasts Australian Dollar Forecasts