Archive for the ‘Currencies’ Category

Imagining a Single Currency Market

Posted by Tushar Mathur on February 6th, 2012

In the past, a currency market was divided largely by geography and technology. Even the ancient trade markets had barriers in language and transportation. Today we have so many different currencies since over time they evolved naturally into what we see today. Centuries of necessity and barriers that no longer exist; are we ready for a single currency money market? With the advent of the internet, the world is so intrinsically connected that it would be a simple task to get up to date news from the other side of the world instantly.

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Yuan – Mild appreciation, single day rise in month

Posted by Tushar Mathur on February 5th, 2012

Yuan scored greatest points by rising a single day for the entire month. This biggest score was marked on Yuan close on Tuesday against the dollar. In mid of the February the Chinese leader (Xi Jinping) has planned a visit to USA. Amid markets guaranteed that they would provide strength to have big base for the appreciation.

For fore coming weeks the Yuan will be marked to rise for 6.30 per dollar and then it would obtain the narrow range of rest for about the quarter. Impact will be from the euro debt crisis and weak global economy and not from anything else, the china reported.

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One African Currency

Posted by Tushar Mathur on January 27th, 2012

African currencies are hardly considered significant when it comes to forex trading and global markets, but with a single currency being proposed by the African Union for implementation in 2023, it’s worth speculating about what it could mean for the continent.

The hypothetical names being proposed are the Afro and the Afriq. Interestingly, the suggestion of a single currency, though rejected as impractical at the time of suggestion, was originally made by Muammar Gaddafi. The unpopular warmonger also wanted a single military force and passport system, but his monetary idea obviously planted a seed that’s been steadily growing.

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Yuan rose, weakening dollar, stronger GDP data

Posted by Tushar Mathur on January 23rd, 2012

A better GDP data is been marked up than expected. The dollar is therefore weakened when compared with that of the Yuan value raised. A stronger central bank mid point is been obtained due to the Yuan value raised with that of the Gross Domestic Product rate, on Wednesday.

The central bank has set the midpoint at 6, 3205 and on Wednesday the Yuan was at 6.3120. Nevertheless it is 30 pips higher than its previous days (Tuesdays) close. Yuan earned appreciation in its recent week with that of the fear in the economy slowing down.

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Sterling hits 17 month low against dollar, high against euro

Posted by Tushar Mathur on January 16th, 2012

On Friday, the sterling was high against the struggling euro. The euro for past week it was reported to be 16 month low against dollar however on Friday they said that euro has been at 17 month low.  Later on a day count the sources for the euro zone government informed that the Standard & Poor cut the ratings to low grade.

Warning was made on December regarding the cuts in the rates. This lower of rating has been across several countries and even the Germany was not included in the list.

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Yuan gradually down against dollar, Chinese trade in narrow range

Posted by Tushar Mathur on December 26th, 2011

PCB (People’s Bank of China) set the weaker midpoint and after that on the forex trade the Yuan has slipped or fell slightly against the dollar value. However Chinese traders have informed that they would mostly trade in a narrow range of value. Yuan seems to have some potential depreciation because the pressure of the bank has been terribly imposed on the Yuan which caused the pullback in the value of it.

Dealer from the Beijing bank reported that the trading value seems to be so volatile. There seemed a strong intention on the Yuan depreciation because when the Yuan hit the range of 6.35 and at that time the central bank intention was totally focused on bringing down the Yuan.

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Sigh of relief on euro debt crisis, euro holds steady

Posted by Tushar Mathur on December 3rd, 2011

Traders and investors on the euro debt crisis have breathed a sigh of relief as the euro holds strong against dollar and yen. The sales rate of the European bonds has raised their confidence level in the debt. Now it is $1.3456 and 104.68 yen per euro in the forex market trade in the afternoon in Tokyo.

Nevertheless on Thursday in the close on New York trade it was $1.3456 and 104.56 yen per euro. Dollar has risen for about 0.13 yen, which is 77.79 yen from 77.66 yen. The release of the US nonfarm payrolls data will make vast difference in the world’s biggest economy.

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Loss in Domestic equities, rupee fall

Posted by Tushar Mathur on November 27th, 2011

On Friday forex trade, Indian currency rupee fell with the loss in the domestic equities and euro debt crisis has been spiraling down in the dented lack of risk. However ECB (European Central Bank) will interfere in this crucial case and will see to the sharp slide in the rupee is limited to its drop.

On Thursday it was at 52.06 initially and as the day moved on it reached 52.46. On Friday, Rupee ended in the 0.3% weaker price range compared with the Thursday’s close and now it is at 52.23 per dollar.

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Euro rose against dollar with euro debt crisis and pressure on ECB

Posted by Tushar Mathur on November 20th, 2011

On Friday the euro has rosin against the dollar however few days back it was 5 week low against both the dollar and yen. However, the traders were not aware of its rise anyway. The fear of euro was intensifying before a week and it is not anymore. The investors who had their bet on this single currency “euro” have been unwounded and they have their profits in hands.

The thirst to sell the upticks has been increased with the debt crisis in the euro zone. Pressure is been resting upon the ECB (European Central Bank).

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Yuan ended down slightly against dollar

Posted by Tushar Mathur on November 17th, 2011

On Monday forex trade the Yuan ended slightly down against the dollar after the china’s central bank has given a notification on the set of the midpoint value change. Hu Jintao, Chinese president decided that the government has planned to keep the Yuan steady for a while and so it has been slightly down.

Chinese president added that however, because of this decision neither the US trade nor their employment problem that prevail over there is not being solved even they used to have a greater appreciation in Yuan versus dollar.

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Swiss franc hovers low against dollar

Posted by Tushar Mathur on November 14th, 2011

On Friday forex trade the Swiss franc lowered against dollar. However it has previously moved inch by inch down and finally reached this stage. It had hovered about one month low against the greenback dollar. Nevertheless the intensive worry is that the Europe future is more attracted towards the dollar and it tends to make this dollar more attractive in the market.

To limit on the Swiss franc’s appreciation the SNB (Swiss National Bank) set a cap for the Swiss franc against the euro on the month of September. However the hovering movement and ups and downs of the franc and dollar was closely noticed and they were highly compared with that of the euro vs dollar.

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Rupee strengthened, local share up, high dollar demand

Posted by Tushar Mathur on November 7th, 2011

Rupee is been strengthened in the third session on Friday and the local share has gained a fully fledged expectation because of the foreign funds. Nevertheless the dollar demand is also weighed and these oil refiners are seem to putting the lid of gain from overseas. The euro seems to gain a referendum call from Greek government and Italy.

Expectation of the dealer is that the local unit is at 48.80 to 49.20 every day. At Thursday close of rupee was at 49.14/ 49.15 however at Friday opening it was at 49.08/49.09 per dollar. It has developed far from the ranges 48.98 to 49.11 every day.

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Yen rose against major currencies, euro debt crisis break down

Posted by Tushar Mathur on October 31st, 2011

The dollar fell for record low against yen since after the news on the US consumers view on the economy was said and it was since the middle of the great recession. On Tuesday it was noted that the Japanese currency, yen rose against major other currencies and it was seemed to be US consumer sentiment weak and also the euro debt crisis issue also seems to breakdown for a while.

The Conference Board Index said that the index value is low and it is marked to be far lower than that analysts have expected. The consumer sentiment has made it worse since March 2009.

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Rupee- appreciated by 32 paise against dollar

Posted by Tushar Mathur on October 29th, 2011

Rupee has got further appreciation for 32 paise against dollar as it has settled at the final value as Rs. 49.50 to 49.51. Dollar has set up a strong selling rate by exporters and a sustain rise in the local ranges of equities. Nevertheless of the dollar selling rate their weakness overseas and their capital flaws and downs has boosted the rupee to be higher by the outlook.

Domestic unit rupee value closed at 49.82 previous day and on today the interbank forex market revealed that the close has been higher to about 49.67 however they were about to reach a low of 49.80 in the early morning trade and by some weakness in the stocks the rise in the interest rates was finally announced by the central bank.

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