| | Latest news about the foreign exchange markets
Daily forex commentary on economic events, currency pairs, market observations as well as support and resistance for major currencies traded in the foreign exchange market.
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| | Thu, 20 Nov 2008 09:01:44 -0500 | | Surprise rate cut sends Swiss franc lower in forex tradingIn currency trading, the Swiss franc is heading much lower, thanks to a surprise rate cut from the Swiss National Bank. The central bank in Switzerland made a dramatic cut of 100 basis points, in an effort to help stimulate the economy.
Like many other countries, the Swiss National Bank participated in a coordinated rate cut not too long ago. On that occasion, the bank cut rates by 50 basis points. However, it is apparent that Swiss monetary policy makers feel that they can do more to support the Swiss economy.
As one might expect, the Swiss franc is markedly lower in forex trading, especially against the U.S. dollar.
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| | Wed, 19 Nov 2008 08:49:26 -0500 | | Ruble struggles on FX marketThe Russian ruble has begun to depreciate on the FX market, with some help from the government. But external forces aren't helping the place of the ruble in currency trading much, either.
One of the biggest factors affecting the Russian ruble in forex trading is the fact that oil prices are falling. Much of Russia's wealth is based on oil, and with the global recession curbing demand, it is no surprise that the ruble is falling as well.
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| | Tue, 18 Nov 2008 08:47:28 -0500 | | Loonie declines in currency trading on the FX marketThe Canadian dollar continues to weaken in forex trading on the currency market. As global stocks decline in response to a worldwide recession, and as oil prices continue to struggle, the loonie finds itself weaker in currency trading.
Because the Canadian dollar is a commodity currency, it relies on the global economy to support it. Equities and commodities show signs that global demand for materials is decreasing, and as a supplier (especially of oil), that is affecting the loonie.
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| | Mon, 17 Nov 2008 08:07:34 -0500 | | New financial rules hammered at as wellOver the weekend, the G-20, comprising the leaders of the biggest economies (developed and emerging) met to try and decide what to do about the global recession. There was very little real substance in the meetings, but the leaders did pledge the following:
- Coordinated action to end the global recession.
- Agreement on some new rules regarding financial markets.
The idea is to try to stimulate the global economy, and to make it more difficult for something like this to happen again through requirements to be more transparent and to keep greater capital on hand.
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| | Thu, 13 Nov 2008 07:53:42 -0500 | | Euro continues to struggle in currency tradingEarlier today, the euro fell below $1.2388 in forex trading on news that the German economy is in recession. The euro continues to struggle in currency trading on the FX market as the U.S. dollar is looked to as a safe haven currency.
Because Germany represents the largest economy in the European Union and the euro zone, it is no surprise that it has a rather large influence on the performance of the euro in forex trading.
The euro did make up some ground in FX trading, moving back up above $1.25. However, the euro is still performing poorly overall against the U.S. dollar in forex trading, thanks to the global recession.See Also | |
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