Posts Tagged ‘Sentiment’

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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India rupee gains 11 paise against the U.S dollar

Posted by Tushar Mathur on August 1st, 2011

Due to the smart gains in our domestic stock market, Indian rupee had today gained 11 paise to end at 44.07/08 against one U.S dollar on fresh dollar selling by some banks and exporters.At the Forex (Interbank Foreign Exchange) market, Indian rupee opened strongly at 44.05/06 per dollar from the Friday’s close of 44.18/19 per U.S dollar, Indian rupee closed the day at 44.07/08.

The Forex dealers had said that regenerated dollar selling by exporters and some banks on anticipations of a further fall in the United States unit overseas encouraged the sentiment of the Indian rupee.The raise has capped to some extent due to the outflows in fresh capitals.

The BSE (Bombay Stock Exchange) benchmark Sensex had today came back by more than 117 points or 0.64 per cent to reach a total of 18,314 points after diping by 674.09 points that is 3.57 per cent in the last four straight trading sessions.

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Pound May Climb On Asset Purchase Program Ending

Posted by admin on January 18th, 2010

The U.K. currency may be experience a shift on its sentiment as speculations suggest that the current quantitative easing measures used by the nation’s central bank will be terminated, as the country starts to publish positive economic reports, suggesting that the recession may be ending in the British Isles. This week will be decisive for the pound as inflation yearly numbers are due to be published the next Tuesday, and if forecasts will be confirmed, the numbers are expected to surpass Bank of England’s target below 2 percent for the first time in seven months, fueling even further speculations that quantitative easing measures will be lifted in the U.K.

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Australian Dollar Down on Chinese Risk Aversion

Posted by admin on January 15th, 2010

The Australian dollar was one of the most affected currencies today as speculations that Chinese lending requirements will slow down the global economic recovery impacted traders’ sentiment, declining appetite for high-yielding currencies. The Aussie and the kiwi declined today versus most of the main 16 traded currencies, after one of its main trading partners, China, is likely to reduce property loans after the government set new restrictions for lending money in the nation’s banks, fueling speculations of an economic slowdown and consequently raising risk aversion in trading markets towards the end of this week’s session.

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Greece’s Budget Deficit Affects Euro Performance

Posted by admin on January 14th, 2010

The euro declined today versus most of the 16 main trade currencies as some of its member countries, specially Greece, are having a hard time to adjust its national accounts, decreasing confidence among investors to inject capital in the region. Greece’s deteriorating financial situation once again influenced negatively the euro’s outlook as German Chancellor Angela Merkel affirmed that the Southern European budget deficit may hurt the sentiment among investors regarding the common currency, which had been already impacted by Greece’s credit rating when it was downgraded for the second time in a year in late 2009 by Standard and Poor’s.

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Norwegian Krone Tumbles as Commodities Rally Slow Down

Posted by admin on January 12th, 2010

After several days gaining versus the dollar and the euro, the Norwegian currency slid versus main traded currencies as a bearish day in equities markets and decreased demand for commodities shunned investors from assets in the Nordic country. The Norwegian krone was affected today as the crude oil, the nation’s chief export, had a decline on its rates after China imposed new lending requirements for banks in the country, affecting markets’ sentiment, consequently impacting stock markets and demand for high-yielding currencies. USD/NOK traded at 5.6518 as of 19:08 GMT from today’s opening rate of 5.6174.

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Yen Rallies on China’s Banking Policy

Posted by admin on January 12th, 2010

Risk aversion declined significantly today after China set a new reserves requirements for banks in the country, allowing the yen to outperform all of the 16 main traded currencies in foreign-exchange markets, as pessimism surged. Equities markets in Asia and globally declined today, raising demand for the yen, as China set a minimum of 16 percent of reserves that large banking corporations in the country must have, in order to avoid a credit bubble as the one that caused the global slump in late 2008. The yen is considered the safest refuge in currency markets for turbulent times and benefited from today’s negative scenario, as China’s policy decreased demand for high-yielding assets, which were trading high since the beginning of the year.

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Swiss Franc Retreats After Central Bank Statement

Posted by admin on January 11th, 2010

The Swiss currency had its previous week rally versus currencies like the pound and the euro halted today after the national central bank took a position against further advances of the franc, as the current appreciation was considered excessive by SNB officials. After a rally that lasted during most of the past week trading session, the Swiss National Bank President Philipp Hildebrand stated today that the franc’s fluctuations will be monitored closely, also signaling that policy makers will attempt to prevent further gains for the its currency, as current levels, specially versus the euro, are considered too high.

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Unexpectedly Negative Payrolls Force Greenback Down

Posted by admin on January 8th, 2010

An employment report waited during all the week and released today frustrated analysts bringing weaker-than-expected figures for the U.S. economy, pulling the dollar down versus most of the 16 main traded currencies.After the non-farm payrolls report indicated that employers cut more jobs than forecasts suggested, the demand for dollar-priced and high-yielding currencies declined significantly in foreign-exchange markets as traders become more risk averse interpreting the pessimist data indicated in the U.S. employment figures. The euro gained sharply versus the dollar following the negative employment report, but declined in the hours following the publication.

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Kiwi suffered a severed setback following the RBNZ rate statement yesterday evening

Posted by admin on October 29th, 2009

In a poor day for the kiwi dollar, the pound rose by over seven cents, or 3.1%, against the kiwi, reaching a one-month high as traders withdrew long positions. A slide on Wall Street and on European share indices, led by declines in the energy and banking sectors, accelerated a sharp fall in the “riskier” kiwi dollar. This was compounded after data revealed an unexpected fall in US new home sales for September, which, as general sentiment was that the housing sector was on the mend, raised concerns in the market, sapping demand for the kiwi.

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The single currency pared recent gains on Friday, but has recovered in trading this morning

Posted by admin on October 26th, 2009

The single currency slipped back from multi-month highs against the dollar following positive US housing data, with the pair closing the week at 1.5006. The US dollar found support after a report showed that US existing-home sales improved more than expected last month. Resales of US houses jumped 9.4% in September to a seasonally adjusted annual rate of 5.57 million, the highest rate in more than two years, which stemmed the recent broad dollar sell off. Analysts stated that the recent bout of euro strength could now be looking over-stretched, given huge accumulation of short positions on the dollar.

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Euro managed to push through $1.50, but has slipped this morning following mildy disappointing Chinese data

Posted by admin on October 22nd, 2009

The single currency resumed its upward march against the greenback yesterday, finally broaching the 1.50 mark, to close up half a cent at 1.5015. In early trading, the euro retreated from near 14-month highs as some investors bet European policy makers would say they are still concerned that the euro’s strength will harm the economic recovery. Analysts also said that the single currency’s sharp fall against the pound weighed on the euro/dollar price, which has recently remained anchored just below the $1.50 level. However, the dollar relinquished its gains in the afternoon as rising U.S.

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Sterling has rallied strongly against the euro, pushing up over 1.09

Posted by admin on October 16th, 2009

Sterling strengthened as much as 2.2% to a ten-day high of 1.0936 against the euro yesterday, its biggest intra-day gain since Jan 30th.Sterling was able to post strong gains following bullish comments from a Bank of England policymaker who stated that quantitative easing is in fact working. MPC member Paul Fisher told the Financial Times he felt confident that the bank’s asset purchase programme was ‘having the scale and speed of impact that we would have hoped for when we started,’ back in March. Analysts said that the comments were perceived as lessening the chances that the central bank would expand its loose monetary policy at their next meeting in November, which to some extent, had already been priced into the market.

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Aussie edged higher vs the pound again yesterday, but sterling has rebounded following upbeat comments from a BoE policymaker

Posted by admin on October 15th, 2009

The aussie edged higher yesterday as continued strong demand for the high-yielding currency offset positive employment data in the UK. The UK currency found early support following better-than-expected employment data that revealed the rate of people claiming benefit allowance was declining.However, the news was unable to buoy a broadly weaker pound, with investors continuing to be attracted by the recent rate rise and general positive sentiment surrounding the Australian economy. The aussie also took advantage of rallying equity markets, which took their lead from better-than-expected quarterly earnings at JP Morgan reinforcing the notion that economic conditions are improving.

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Strong commodity prices and doubts over the UK economy allow the aussie to gain further ground

Posted by admin on October 13th, 2009

The Australian dollar continued to push higher yesterday, advancing over a cent as sentiment towards the higher-yielding currency remained positive. Commodity currencies, such as the aussie, made progress yesterday in line with stronger prices for oil and metals. Rallying global equity and commodity markets encouraged the rise in risk appetite in the market, which heightened demand for the aussie dollar. In the UK, the market still holds the view that further quantitative easing could be announced in November, which has put substantial pressure on the UK currency as other major economies look to wind up stimulus measures.

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