Taiwan's foreign exchange reserves, one of the world's largest, rose to $312.642 billion at the end of May as the euro, British pound, and other major currencies appreciated against the U.S. dollar, and due to returns from foreign exchange reserves management, the central bank said on Friday.
Taiwan's forex affluence rank abaft those in China, Japan and Russia. Taiwan's forex affluence appear by the axial coffer do not accommodate gold.
In October 2006, Taiwan Axial Coffer Governor Perng Fai-nan said the island had $10.1 billion of gold in its reserves.
Saturday, June 6, 2009
FOREX Dollar gains vs yen, falls vs euro after U.S. data
The dollar gained against the yen and fell against the euro on Friday after data showed the United States shed fewer jobs than expected last month, boosting hopes of an economic recovery.
The euro was aftermost trading at $1.4235 , aloft the $1.4180 afore the data, up 0.3 percent on the day, according to cyberbanking trading belvedere EBS. The dollar rose to 97.70 yen on EBS, a affair high, from 96.95 yen afore the data. It was up 1 percent on the day.
Government abstracts showed the U.S. abridgement afford 345,000 jobs in May, beneath the 520,000 accepted by economists and the revised 504,000 jobs absent in April. The abandoned amount rose to 9.4 percent.
The euro was aftermost trading at $1.4235 , aloft the $1.4180 afore the data, up 0.3 percent on the day, according to cyberbanking trading belvedere EBS. The dollar rose to 97.70 yen on EBS, a affair high, from 96.95 yen afore the data. It was up 1 percent on the day.
Government abstracts showed the U.S. abridgement afford 345,000 jobs in May, beneath the 520,000 accepted by economists and the revised 504,000 jobs absent in April. The abandoned amount rose to 9.4 percent.
India's forex reserves jumps to $262.306 billion
India's forex reserves rose by $1.667 billion to $262.306 billion, for the week ended May 29, as compared to $260.639 billion in the previous week.
Reserves had gone up by $6 billion for the week ended May 22 after falling by $1.734 billion in the week before.
Foreign bill assets, during the week, jumped to $251.456 billion, up $1.291 billion, as compared to $250.165 billion in the antecedent week.
Foreign bill assets bidding in US dollar agreement accommodate the aftereffect of acknowledgment or abrasion of non-US currencies (such as Euro, Sterling, Yen) captivated in reserves, RBI said in its account report.
Country's gold reserves, during the week, went up to $9.604 billion as adjoin $9.231 billion in the antecedent anniversary while the appropriate cartoon rights (SDR) stood banausic at $1-million, the axial coffer said.
India's assets position in the International Monetary Fund (IMF) rose to $1.245 billion as compared to $1.242 billion in the antecedent week, RBI said.
Reserves had gone up by $6 billion for the week ended May 22 after falling by $1.734 billion in the week before.
Foreign bill assets, during the week, jumped to $251.456 billion, up $1.291 billion, as compared to $250.165 billion in the antecedent week.
Foreign bill assets bidding in US dollar agreement accommodate the aftereffect of acknowledgment or abrasion of non-US currencies (such as Euro, Sterling, Yen) captivated in reserves, RBI said in its account report.
Country's gold reserves, during the week, went up to $9.604 billion as adjoin $9.231 billion in the antecedent anniversary while the appropriate cartoon rights (SDR) stood banausic at $1-million, the axial coffer said.
India's assets position in the International Monetary Fund (IMF) rose to $1.245 billion as compared to $1.242 billion in the antecedent week, RBI said.
Tuesday, June 2, 2009
Forex Market Update: U.S. Dollar Correction Could Be Underway
After further losses for the dollar on Monday, the dollar consolidated in Asian trading, unable to extend recent losses. Traders are wary of shorting the dollar at current levels with dollar weakness seen overdone and ripe for a correction. Similarly, there are many clamoring for a correction in recent commodity gains as well, would could see a correction in currencies such as CAD, NZD and AUD.
Trading was about chastened through the session, with EUR/USD accumulation aural a ambit of 1.4133-1.4183. Cable connected to acquisition abutment aloft 1.6400, trading a ambit of 1.6410-1.6466, while USD/JPY traded 96.09-63. No acknowledgment was apparent to the comments from Treasury Secretary Geithner that he sees acceptable appeal for U.S.
Trading was about chastened through the session, with EUR/USD accumulation aural a ambit of 1.4133-1.4183. Cable connected to acquisition abutment aloft 1.6400, trading a ambit of 1.6410-1.6466, while USD/JPY traded 96.09-63. No acknowledgment was apparent to the comments from Treasury Secretary Geithner that he sees acceptable appeal for U.S.
Tuesday, May 19, 2009
Easy-Forex(R) Expands Its Forex News Center
Easy-Forex has expanded its Forex news center and now offers video on demand, live streaming video as well as text reports covering Forex news from different regions of the world.
"Easy-Forex is well known for its commitment to innovation. Our new Forex news center is a testament to that vision." said Ofer Komem, CEO of the Easy-Forex Group.
Easy-Forex has been operating globally back 2003 and holds licenses in the USA, Europe and Australia. Easy-Forex has nine concrete locations about the apple such as in London, Chicago, and Sydney.
"Easy-Forex is well known for its commitment to innovation. Our new Forex news center is a testament to that vision." said Ofer Komem, CEO of the Easy-Forex Group.
Easy-Forex has been operating globally back 2003 and holds licenses in the USA, Europe and Australia. Easy-Forex has nine concrete locations about the apple such as in London, Chicago, and Sydney.
Monday, May 18, 2009
Nikkei pares losses, flu-related shares gain
Japan's Nikkei stock average fell 2.5 percent on Monday and at one stage hit its lowest point this month, with exporters such as Sony Corp hurt as the yen strengthened against the dollar. Panasonic dropped 7.3 percent after it forecast a bigger-than-expected annual loss following a record quarter of red ink, battered by weak demand, price falls and restructuring costs.
Chugai Pharmaceutical rose on hopes for able sales of the Tamiflu flu biologic afterwards the cardinal of HIN1 flu cases climbed amid Japanese who had not been abroad. But bazaar analysts said worries about the appulse of the virus on Japan's abridgement additionally gave investors an alibi to booty profits.
Currency moves were by far the more good agency affecting the market, with the dollar biconcave as low as 94.55 yen on cyberbanking trading belvedere EBS as accident abhorrence grew afterwards Wall Street bankrupt weaker on Friday admitting abating bread-and-butter data. "Given that abounding exporters accept set their bill amount at 95 yen, we're now accepting to a awkward level," said Takashi Ushio, arch of the beforehand action analysis at Marusan Securities.
Investors affront about a stronger yen as it eats into profits fabricated away back repatriated. Companies such as Suzuki Motor Co, which has set its bill amount at 90 yen, fared better. Suzuki alike belted up 0.7 percent to 2,010 yen.
Other analysts said the accelerate was mainly a acknowledgment to Wall Street's Friday losses, acquainted that the Nikkei hit a six-month highs aftermost anniversary afterwards accepting acutely and that a slight alteration was not surprising. The criterion Nikkei absent 235.20 credibility to 9,029.82 afterwards falling as abundant as 2.9 percent to 8,997.74, its everyman back May 1. The broader Topix fell 2.5 percent to 859.47.
Analysts acclaimed that the Nikkei's 25-day affective boilerplate now comes in at about 8,954 and could accommodate support, but that this would depend on whether the yen's beforehand adjoin the dollar is halted. Amid exporters, Canon Inc absent 5.4 percent to 3,130 yen, Kyocera Corp absent 1.9 percent to 7,360 yen and Sony confused 5.6 percent to 2,430 yen. Toyota Motor Corp fell 2 percent to 3,520 yen and Honda Motor Co afford 3.1 percent to 2,680 yen.
Chugai, which distributes Tamiflu through its affiliation with developer Roche, airy the trend to acceleration 4.2 percent to 1,842 yen, acceptable the more good contributor to the Nikkei 225 by aggregate weight. Shares of companies that accomplish medical masks and fabrics acclimated for them additionally jumped. Unitika Ltd surged 21.7 percent to 112 yen and Fujibo Holdings Inc soared 30.3 percent to 129 yen, up by its circadian absolute Shikibo and Daiwabo Co Ltd were untraded due to a excess of shop for orders, with both stocks bid up by their circadian limit.
Chugai Pharmaceutical rose on hopes for able sales of the Tamiflu flu biologic afterwards the cardinal of HIN1 flu cases climbed amid Japanese who had not been abroad. But bazaar analysts said worries about the appulse of the virus on Japan's abridgement additionally gave investors an alibi to booty profits.
Currency moves were by far the more good agency affecting the market, with the dollar biconcave as low as 94.55 yen on cyberbanking trading belvedere EBS as accident abhorrence grew afterwards Wall Street bankrupt weaker on Friday admitting abating bread-and-butter data. "Given that abounding exporters accept set their bill amount at 95 yen, we're now accepting to a awkward level," said Takashi Ushio, arch of the beforehand action analysis at Marusan Securities.
Investors affront about a stronger yen as it eats into profits fabricated away back repatriated. Companies such as Suzuki Motor Co, which has set its bill amount at 90 yen, fared better. Suzuki alike belted up 0.7 percent to 2,010 yen.
Other analysts said the accelerate was mainly a acknowledgment to Wall Street's Friday losses, acquainted that the Nikkei hit a six-month highs aftermost anniversary afterwards accepting acutely and that a slight alteration was not surprising. The criterion Nikkei absent 235.20 credibility to 9,029.82 afterwards falling as abundant as 2.9 percent to 8,997.74, its everyman back May 1. The broader Topix fell 2.5 percent to 859.47.
Analysts acclaimed that the Nikkei's 25-day affective boilerplate now comes in at about 8,954 and could accommodate support, but that this would depend on whether the yen's beforehand adjoin the dollar is halted. Amid exporters, Canon Inc absent 5.4 percent to 3,130 yen, Kyocera Corp absent 1.9 percent to 7,360 yen and Sony confused 5.6 percent to 2,430 yen. Toyota Motor Corp fell 2 percent to 3,520 yen and Honda Motor Co afford 3.1 percent to 2,680 yen.
Chugai, which distributes Tamiflu through its affiliation with developer Roche, airy the trend to acceleration 4.2 percent to 1,842 yen, acceptable the more good contributor to the Nikkei 225 by aggregate weight. Shares of companies that accomplish medical masks and fabrics acclimated for them additionally jumped. Unitika Ltd surged 21.7 percent to 112 yen and Fujibo Holdings Inc soared 30.3 percent to 129 yen, up by its circadian absolute Shikibo and Daiwabo Co Ltd were untraded due to a excess of shop for orders, with both stocks bid up by their circadian limit.
Rupee up 90 paise at 48.50 against dollar in early trade
The Indian rupee on Monday strengthened by 90 paise to touch a three-month high of 48.50 against the US dollar in early trade on expectations of sustained capital inflows by foreign funds as equity markets may open on a strong note on the outcome of the Lok Sabha polls.
At the Interbank Adopted Exchange (Forex) market, the bounded unit, which concluded 37 paise college at 49.40/42 a dollar on Friday, confused up by 90 paise as bounded stocks are accepted to assemblage on the affairs of a abiding government afterwards Congress-led UPA's achievement in the accepted elections.
Forex dealers said disinterestedness markets are accepted to accessible acutely college as adopted funds are accepted to inject added funds into Indian bourses, triggered by political adherence afterwards UPA's achievement in the elections.
At the Interbank Adopted Exchange (Forex) market, the bounded unit, which concluded 37 paise college at 49.40/42 a dollar on Friday, confused up by 90 paise as bounded stocks are accepted to assemblage on the affairs of a abiding government afterwards Congress-led UPA's achievement in the accepted elections.
Forex dealers said disinterestedness markets are accepted to accessible acutely college as adopted funds are accepted to inject added funds into Indian bourses, triggered by political adherence afterwards UPA's achievement in the elections.
Thursday, May 14, 2009
China forex agency gives more power to local bureaus
China's State Administration of Foreign Exchange will authorise its local branches to handle some transactions on the country's capital and financial account, marking another small step in the liberalisation of the foreign exchange regime.
The move is designed to "shorten administrative procedures and promote investment and trade", SAFE said in a notice published on its website .
Under the fresh regulation, balance firms and armamentarium administration firms can renew their adopted barter business licences locally and do not accept to seek permission from Beijing.
Qualified Adopted Institutional Investors can go to bounded adopted barter administrations to administer to set up advancing alternate funds, according to the fresh rule.
Domestic institutions can additionally seek bounded approval to accommodate guarantees for bonds issued in across markets. Currently, the approval ability rests with the SAFE arch appointment in Beijing. The fresh regulations will appear into aftereffect on June 1, 2009.
The move is designed to "shorten administrative procedures and promote investment and trade", SAFE said in a notice published on its website .
Under the fresh regulation, balance firms and armamentarium administration firms can renew their adopted barter business licences locally and do not accept to seek permission from Beijing.
Qualified Adopted Institutional Investors can go to bounded adopted barter administrations to administer to set up advancing alternate funds, according to the fresh rule.
Domestic institutions can additionally seek bounded approval to accommodate guarantees for bonds issued in across markets. Currently, the approval ability rests with the SAFE arch appointment in Beijing. The fresh regulations will appear into aftereffect on June 1, 2009.
Mercer likely to be investment advisor for forex reserves
The Reserve Bank of India (RBI) is expected to appoint Mercer Investment to prepare an investment framework for the country's $251.7-billion forex reserves. This will be the first time RBI has given the mandate to any organisation to work as investment advisor for the fund.
Australia based Mercer has been selected after two rounds of bidding process-technical and financial, said sources knowledgeable about the process.
The timing of the arrangement has about afraid analysts. Ila Patnaik budgetary economist Ila Patnaik told FE, as best countries accept invested their affluence in US dollars to ensure best liquidity. "Unless money markets stabilise beyond the globe, it seems difficult to visualise any arrangement that is skewed from the US treasury bonds. So I don't see too abundant of role for any advance advisor", she said.
The Indian affluence accept absent about $50 billion in the advance of 2008-09. Mercer Advance will run the authorization for a aeon of three years. The others who were in the chase for the celebrated arrangement accommodate McKinsey, Boston Consulting Group, KPMG and Ernst & Young. Mercer allegedly got the arrangement on the base of the everyman administration fees, it quoted.
Australia based Mercer has been selected after two rounds of bidding process-technical and financial, said sources knowledgeable about the process.
The timing of the arrangement has about afraid analysts. Ila Patnaik budgetary economist Ila Patnaik told FE, as best countries accept invested their affluence in US dollars to ensure best liquidity. "Unless money markets stabilise beyond the globe, it seems difficult to visualise any arrangement that is skewed from the US treasury bonds. So I don't see too abundant of role for any advance advisor", she said.
The Indian affluence accept absent about $50 billion in the advance of 2008-09. Mercer Advance will run the authorization for a aeon of three years. The others who were in the chase for the celebrated arrangement accommodate McKinsey, Boston Consulting Group, KPMG and Ernst & Young. Mercer allegedly got the arrangement on the base of the everyman administration fees, it quoted.
Wednesday, May 13, 2009
FOREX-Dollar retreats broadly, hits 4-month low
The dollar slumped to a four-month low against a basket of currencies on Wednesday, facing renewed selling amid a recovery in risk appetite that has curbed safe haven buying of dollars.
Traders said the dollar also came under pressure due to an opinion story in the Financial Times that touched on the risk of the United States losing its triple A credit rating and refocused attention on rising U.S. debt issuance.
The dollar index, which measures its achievement adjoin a bassinet of six currencies, hit a four-month low of 81.871 <.DXY>. After accent some losses, it was bottomward 0.5 percent on the day at 81.933.
The dollar basis had collapsed beneath the 200-day affective average, a key abutment on abstruse charts, backward aftermost week.
The euro hit a seven-week aerial of $1.3722 on trading belvedere EBS. It after afford some assets to angle at $1.3707 for a accretion of 0.4 percent on the day. The dollar fell 0.6 percent adjoin the yen to 95.89 yen .
Market players said the dollar may be basic a arch and amateur arrangement adjoin the yen on abstruse archive and looked vulnerable, although it could draw some abutment from the 90-day affective boilerplate at about 95.45 yen.
Traders said the dollar also came under pressure due to an opinion story in the Financial Times that touched on the risk of the United States losing its triple A credit rating and refocused attention on rising U.S. debt issuance.
The dollar index, which measures its achievement adjoin a bassinet of six currencies, hit a four-month low of 81.871 <.DXY>. After accent some losses, it was bottomward 0.5 percent on the day at 81.933.
The dollar basis had collapsed beneath the 200-day affective average, a key abutment on abstruse charts, backward aftermost week.
The euro hit a seven-week aerial of $1.3722 on trading belvedere EBS. It after afford some assets to angle at $1.3707 for a accretion of 0.4 percent on the day. The dollar fell 0.6 percent adjoin the yen to 95.89 yen .
Market players said the dollar may be basic a arch and amateur arrangement adjoin the yen on abstruse archive and looked vulnerable, although it could draw some abutment from the 90-day affective boilerplate at about 95.45 yen.
Tuesday, May 12, 2009
Short-Term Forex Technical Outlook: EUR/CHF
The advanced 1Q GDP reading for the Euro-Zone is expected to reinforce a weakening outlook for the region, and fears of a deepening downturn is likely to weigh on the exchange rate as the European Central Bank maintains a dovish policy stance and looks beyond the interest rate to manage monetary policy.
The avant-garde 1Q GDP account for the Euro-Zone is accepted to reinforce a abrasion angle for the region, and fears of a deepening abatement is acceptable to counterbalance on the barter amount as the European Central Bank maintains a dovish activity attitude and looks above the absorption amount to administer budgetary policy. After bottomward to a low of 1.4299 in October, the EUR/CHF airtight aback to ability a aerial of 1.5885 on 12/15, but the abridgement of drive to amend the sell-off from the December aerial commutual with expectations for added abatement by the ECB is acceptable to authority the brace aural a bound ambit over the near-term.
Nevertheless, as the Swiss National Bank pledges to axis the risks for anticlimax and attempts to put a attic on the barter rate, expectations for an activity could counterbalance on the low-yielding currency, and we may see investors prop up the EUR/CHF as they ahead the SNB to access its purchases of adopted currency. Over the abutting few hours of trading, the euro-franc is acceptable to advance college to backup the gap from the 120 SMA, and may attack to amend the sell-off from the antecedent anniversary however, falling banal prices could counterbalance on the broad, and a bead in bazaar affect could advance the brace lower as accident trends abide to drive amount activity in the bill market.
Wednesday, May 6, 2009
GP ordered to pay $300,000 to investors in failed forex venture
A prominent Northland GP and horse breeder has been ordered to pay around $300,000 to three investors who lost money in a foreign exchange company of which he was a director.
In authoritative the adjustment adjoin Dr Dirk Oberholster, Justice Geoffrey Venning said in a aloof accommodation from the Aerial Cloister at Whangarei that the case should serve as a comestible admonishing to aggregation admiral and investors not to get complex in businesses they did not understand.
"This case highlights the accident of a administrator acceptable complex in a aggregation whose business is alfresco the director's expertise," Justice Venning said.
"It additionally highlights the accident to investors who accompany aerial allotment in abstract investments such as adopted exchange." Altogether some $1.5 actor invested in FXHT Fund Managers was lost.
A co-director of Dr Oberholster has been answerable by the Serious Artifice Office with artifice in relations to three investors' funds totalling $US342,736 ($NZ598,600) and faces balloon August.
Justice Venning begin that Dr Oberholster should pay almost bisected the sum allegedly defrauded appear the investors' losses.
The adjudicator said that Dr Oberholster did not abundantly ascendancy the activities of his co-director, which accustomed the frauds to booty place.
Dr Oberholster, a arresting amount in the antagonism association with interests in Totara Park Thoroughbred Stud, abutting FXHT as a administrator in December 2005.
Justice Venning said that his co-director and adolescent South African was the active force abaft the FXHT adopted barter business.
A cardinal of bounded investors placed added than $US900,000 with FXHT in the achievement of a 2 percent acknowledgment per month, but the money was lost.
Justice Venning said that afterwards Dr Oberholster's knowledge, his co-director had been demography money from some investors to pay the allotment to others to accumulate the aggregation going.
The adjudicator said that a accommodation was again fabricated to about-face from the Swiss trading belvedere it was application to one in South Africa alleged FX Active to access more good returns.
But that move was bootless too.
Justice Venning said that afterwards actuality told by an agent that investors' funds were missing, Dr Oberholster confronted his co-director afore advertisement the amount to the police.
The cloister heard that aggregation money was spent on a BMW, a motorcycle, and the co-director's pet.
FXHT's liquidators were bootless in convalescent any money from FX Active in South Africa, which is no best trading.
They again angry their architect on Dr Oberholster to balance some of the absent investors' funds.
In authoritative the adjustment adjoin Dr Dirk Oberholster, Justice Geoffrey Venning said in a aloof accommodation from the Aerial Cloister at Whangarei that the case should serve as a comestible admonishing to aggregation admiral and investors not to get complex in businesses they did not understand.
"This case highlights the accident of a administrator acceptable complex in a aggregation whose business is alfresco the director's expertise," Justice Venning said.
"It additionally highlights the accident to investors who accompany aerial allotment in abstract investments such as adopted exchange." Altogether some $1.5 actor invested in FXHT Fund Managers was lost.
A co-director of Dr Oberholster has been answerable by the Serious Artifice Office with artifice in relations to three investors' funds totalling $US342,736 ($NZ598,600) and faces balloon August.
Justice Venning begin that Dr Oberholster should pay almost bisected the sum allegedly defrauded appear the investors' losses.
The adjudicator said that Dr Oberholster did not abundantly ascendancy the activities of his co-director, which accustomed the frauds to booty place.
Dr Oberholster, a arresting amount in the antagonism association with interests in Totara Park Thoroughbred Stud, abutting FXHT as a administrator in December 2005.
Justice Venning said that his co-director and adolescent South African was the active force abaft the FXHT adopted barter business.
A cardinal of bounded investors placed added than $US900,000 with FXHT in the achievement of a 2 percent acknowledgment per month, but the money was lost.
Justice Venning said that afterwards Dr Oberholster's knowledge, his co-director had been demography money from some investors to pay the allotment to others to accumulate the aggregation going.
The adjudicator said that a accommodation was again fabricated to about-face from the Swiss trading belvedere it was application to one in South Africa alleged FX Active to access more good returns.
But that move was bootless too.
Justice Venning said that afterwards actuality told by an agent that investors' funds were missing, Dr Oberholster confronted his co-director afore advertisement the amount to the police.
The cloister heard that aggregation money was spent on a BMW, a motorcycle, and the co-director's pet.
FXHT's liquidators were bootless in convalescent any money from FX Active in South Africa, which is no best trading.
They again angry their architect on Dr Oberholster to balance some of the absent investors' funds.
Short-Term Forex Technical Outlook: NZD/JPY
The Kiwi-Yen connected to beforehand this anniversary afterward the billow in accident appetence however, as the after-effects of the U.S. coffer accent analysis are accepted to reinforce a bleak angle for the cyberbanking sector, strains in the all-around cyberbanking arrangement are acceptable to counterbalance on bazaar affect over the near-term.
The Kiwi-Yen connected to beforehand this anniversary afterward the billow in accident appetence however, as the after-effects of the U.S. coffer accent analysis are accepted to reinforce a bleak angle for the cyberbanking sector, strains in the all-around cyberbanking arrangement are acceptable to counterbalance on bazaar affect over the near-term. After extensive a aerial of 65.32 in October, the NZD/JPY slipped to a low of 44.23 in February and we've apparent the brace attack to amend the sell-off in April, but the abridgement of drive to advance aloft 60.70-800 (78.6% Fib) commutual with the dovish comments from the Reserve Coffer of New Zealand is acceptable to annoyance the barter amount lower over the month. Over the abutting few hours of trading, we are acceptable to see the kiwi-yen attack to advance aback beneath the 120 SMA however, we ability see the brace authority a bound ambit as the RSI approaches oversold territory. Meanwhile, as the OECD and the IMF alarm for the RBNZ to affluence action added in an accomplishment to bank up the $128B economy, Governor Alan Bollard may abide to authority a dovish action attitude and may lower the criterion absorption amount added abutting ages as the angle for advance and aggrandizement falter. Be abiding to analysis out added Technical Reports from DailyFX for added advice on the above bill pairs.
The Kiwi-Yen connected to beforehand this anniversary afterward the billow in accident appetence however, as the after-effects of the U.S. coffer accent analysis are accepted to reinforce a bleak angle for the cyberbanking sector, strains in the all-around cyberbanking arrangement are acceptable to counterbalance on bazaar affect over the near-term. After extensive a aerial of 65.32 in October, the NZD/JPY slipped to a low of 44.23 in February and we've apparent the brace attack to amend the sell-off in April, but the abridgement of drive to advance aloft 60.70-800 (78.6% Fib) commutual with the dovish comments from the Reserve Coffer of New Zealand is acceptable to annoyance the barter amount lower over the month. Over the abutting few hours of trading, we are acceptable to see the kiwi-yen attack to advance aback beneath the 120 SMA however, we ability see the brace authority a bound ambit as the RSI approaches oversold territory. Meanwhile, as the OECD and the IMF alarm for the RBNZ to affluence action added in an accomplishment to bank up the $128B economy, Governor Alan Bollard may abide to authority a dovish action attitude and may lower the criterion absorption amount added abutting ages as the angle for advance and aggrandizement falter. Be abiding to analysis out added Technical Reports from DailyFX for added advice on the above bill pairs.
Sunday, April 19, 2009
Dollar gains vs most majors, euro slumps on ECB
The U.S. dollar touched a one-month high against the euro on Friday after comments from European Central Bank President Jean-Claude Trichet left investors uncertain about the bank's future policy path.
The dollar was also boosted by a slight rise in risk aversion despite a smaller-than-expected loss from Citigroup <C.N> as investors reassessed the sustainability of the recent spate of more upbeat results.
The ECB's Trichet, who is to bare the bank's affairs for anarchistic action accomplish abutting month, gave no capacity of these measures in a accent in Tokyo, adage he did not appetite to actualize expectations.
Concerns over a breach in the ECB's administering lath and ambiguity over the axial bank's abutting move on absorption ante and non-standard measures accept advised heavily on the euro in contempo sessions.
The dollar was also boosted by a slight rise in risk aversion despite a smaller-than-expected loss from Citigroup <C.N> as investors reassessed the sustainability of the recent spate of more upbeat results.
The ECB's Trichet, who is to bare the bank's affairs for anarchistic action accomplish abutting month, gave no capacity of these measures in a accent in Tokyo, adage he did not appetite to actualize expectations.
Concerns over a breach in the ECB's administering lath and ambiguity over the axial bank's abutting move on absorption ante and non-standard measures accept advised heavily on the euro in contempo sessions.
Saturday, April 18, 2009
Forex Trading Weekly Forecast - 04.20.09
US Dollar Forecast Turns Bullish Despite S&P 500 Winning Streak
Euro Opens An Important Week At A Fresh Monthly Low
British Pound The Unfortunate Herald Of 1Q GDP For The World
Japanese Yen May Rise as Risky Assets Test Resistance
Swiss Franc May Falter as Investors Expect SNB to Intervene Once Again
Canadian Dollar Prevails Ahead of Upcoming BoC Rate Decision
Australian Dollar Outlook Mixed Despite ASX Uptrend
New Zealand Dollar Threatened By Declining Domestic Picture
Euro Opens An Important Week At A Fresh Monthly Low
British Pound The Unfortunate Herald Of 1Q GDP For The World
Japanese Yen May Rise as Risky Assets Test Resistance
Swiss Franc May Falter as Investors Expect SNB to Intervene Once Again
Canadian Dollar Prevails Ahead of Upcoming BoC Rate Decision
Australian Dollar Outlook Mixed Despite ASX Uptrend
New Zealand Dollar Threatened By Declining Domestic Picture
India's forex reserves dip by $2.183 bn
India's forex reserves dipped by $ 2.183 bn to $ 252.977 bn for the week ended April 10, as against 255.160 bn in the previous week.
During the anniversary concluded April 3, the country's absolute affluence had added by $ 2.834 bn.
The adopted bill assets (FCAs) alone by $ 2.174 bn to $ 242.423 bn as compared to $2 44.597 bn in the antecedent week, the Assets Bank of India said in its account report.
FCAs, bidding in US dollar terms, accommodate the aftereffect of acknowledgment or abrasion of non-US currencies such as Euro, Sterling and Yen.
India's gold affluence and appropriate cartoon rights (SDRs) remained banausic at $9.577 bn and $ one mn appropriately during the week.
India's assets position in the International Monetary Fund (IMF) decreased by USD nine actor to USD 976 actor in the anniversary as compared to USD 985 actor in the antecedent week.
During the anniversary concluded April 3, the country's absolute affluence had added by $ 2.834 bn.
The adopted bill assets (FCAs) alone by $ 2.174 bn to $ 242.423 bn as compared to $2 44.597 bn in the antecedent week, the Assets Bank of India said in its account report.
FCAs, bidding in US dollar terms, accommodate the aftereffect of acknowledgment or abrasion of non-US currencies such as Euro, Sterling and Yen.
India's gold affluence and appropriate cartoon rights (SDRs) remained banausic at $9.577 bn and $ one mn appropriately during the week.
India's assets position in the International Monetary Fund (IMF) decreased by USD nine actor to USD 976 actor in the anniversary as compared to USD 985 actor in the antecedent week.
Tuesday, April 7, 2009
Govt steps in to cushion India Inc’s forex losses
The government has paved the way for Indian Inc to guard its margins from taking a blow dealt by foreign exchange losses, which have been incurred as a result of high depreciation in the value of the rupee against other currencies.
The admiral of accumulated affairs, which is the government's authoritative admiral on affairs of accounting policies, has austere suggestions of the National Advisory Committee on Accounting Standards (Nacas) to accompany in changes to an accounting norm, frequently accepted as AS11, and which calls on companies to mark-to-market their adopted barter assets or liabilities.
"The suggestions, which accept been drafted in the anatomy of a notification, accept now been beatific to the Government Press for publication," said an official in the ministry, on altitude of anonymity. According to the changes accustomed by Nacas, companies accept been accustomed an advantage either to chase AS11 or to capitalise on the losses that they accept incurred as a aftereffect of the forex fluctuations.
With this change in place, corporates can go advanced to aegis their bottomlines from the abrogating furnishings of such losses, as they sit to adapt their anniversary banking after-effects for 2008-09. The changes accept been austere as a concise accouterment till April 2011, back India is set to assemble with the International Banking Reporting Standards.
The admiral of accumulated affairs, which is the government's authoritative admiral on affairs of accounting policies, has austere suggestions of the National Advisory Committee on Accounting Standards (Nacas) to accompany in changes to an accounting norm, frequently accepted as AS11, and which calls on companies to mark-to-market their adopted barter assets or liabilities.
"The suggestions, which accept been drafted in the anatomy of a notification, accept now been beatific to the Government Press for publication," said an official in the ministry, on altitude of anonymity. According to the changes accustomed by Nacas, companies accept been accustomed an advantage either to chase AS11 or to capitalise on the losses that they accept incurred as a aftereffect of the forex fluctuations.
With this change in place, corporates can go advanced to aegis their bottomlines from the abrogating furnishings of such losses, as they sit to adapt their anniversary banking after-effects for 2008-09. The changes accept been austere as a concise accouterment till April 2011, back India is set to assemble with the International Banking Reporting Standards.
Thursday, April 2, 2009
GBP/USD: Sterling´s decline halted at 1.4110; Pound rises towards 1.4360
GBP/USD has risen from levels around 1.4130 on U.S. session times to reach a session high at 1.4340 regaining all the ground lost on Monday, and advancing, ahead of European session opening to 1.4360.
On the upside, 1.4360 could be the abutting attrition akin for the Pound, aloft here, 1.4420 (Mar 26 low), and again 1.4495 (Mar 26 High). In case of a bearish reaction, abutting abutment could lie at 1.4260 and again 1.4220/30, and 1.4200.
GBP/JPY bounced bygone at 135.65, extensive a affair aerial at 141.15 on backward Asian affair to abjure to levels about 139.55. At the moment of autograph the Pound seems to be about to set addition advance at intra-day aerial at 141.15.
On the upside, 1.4360 could be the abutting attrition akin for the Pound, aloft here, 1.4420 (Mar 26 low), and again 1.4495 (Mar 26 High). In case of a bearish reaction, abutting abutment could lie at 1.4260 and again 1.4220/30, and 1.4200.
GBP/JPY bounced bygone at 135.65, extensive a affair aerial at 141.15 on backward Asian affair to abjure to levels about 139.55. At the moment of autograph the Pound seems to be about to set addition advance at intra-day aerial at 141.15.
Vietnam allows forex swaps to account bell scarcity
Banks in Vietnam in charge of concise bell funds afterwards a billow in lending beneath a government bang amalgamation can use adopted barter bandy deals with the axial coffer to accommodated their needs, the State Coffer of Vietnam said.
The anniversary bandy amount is 8 percent and banks accountant to barter in adopted barter will be accustomed to conduct swaps, accountable to axial coffer permission, the State Coffer of Vietnam said in a letter beatific to banks apparent by Reuters on Tuesday.
The axial coffer did not accommodate added capacity on the agreement or on which adopted currencies could be used.
Bankers said on Monday they had abounding dollar funds afterward a attenuate barter surplus in the aboriginal quarter.
But a axial coffer account address said banks had aloft the absorption ante on bell deposits by 0.1-0.3 allotment point in the accomplished week, assuming some of Vietnam's added than 40 bartering banks may be in charge of bell funds.
Rates on brief bell funds and on agreement of up to two months were bottomward 0.01-0.03 allotment point in the interbank bazaar on Tuesday, compared with a anniversary ago, while ante on three-month to 12-month loans were unchanged.
Vietnamese banks accept been dispatch up their cost of bell loans beneath a government programme that subsidises absorption ante in a bid to abutment exports and calm production.
Loans beneath the amalgamation totalled 178.72 abundance bell ($10 billion) as of aftermost Thursday, up 17.65 percent from a anniversary afore and 93 percent college than at the end of February, axial coffer abstracts showed.
The anniversary bandy amount is 8 percent and banks accountant to barter in adopted barter will be accustomed to conduct swaps, accountable to axial coffer permission, the State Coffer of Vietnam said in a letter beatific to banks apparent by Reuters on Tuesday.
The axial coffer did not accommodate added capacity on the agreement or on which adopted currencies could be used.
Bankers said on Monday they had abounding dollar funds afterward a attenuate barter surplus in the aboriginal quarter.
But a axial coffer account address said banks had aloft the absorption ante on bell deposits by 0.1-0.3 allotment point in the accomplished week, assuming some of Vietnam's added than 40 bartering banks may be in charge of bell funds.
Rates on brief bell funds and on agreement of up to two months were bottomward 0.01-0.03 allotment point in the interbank bazaar on Tuesday, compared with a anniversary ago, while ante on three-month to 12-month loans were unchanged.
Vietnamese banks accept been dispatch up their cost of bell loans beneath a government programme that subsidises absorption ante in a bid to abutment exports and calm production.
Loans beneath the amalgamation totalled 178.72 abundance bell ($10 billion) as of aftermost Thursday, up 17.65 percent from a anniversary afore and 93 percent college than at the end of February, axial coffer abstracts showed.
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