Australia - English
The U.S. Dollar extended its losing streak against other major currencies, for a fourth consecutive week, as traders await to get some clarity over the Fed's decision for continuing its massive bond-buying program, consisting of $85 billion monthly asset purchases, from this week's policy meeting scheduled on June 18-19.
FOMC Decision - This week’s two-day FOMC meeting, scheduled to begin on Tuesday, will be of particular interest. FOMC will release its policy decision on Wednesday. Equally important is the Fed Chairman Ben...
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Fundamental Analysis
Gold prices: Liquidation continues
June 14, 2013 - 15:59
Gold prices are trading near $1384, heading for the third weekly decline as continued selling by Exchange Traded Products (ETPs) and improving economics at US supported the bearish sentiment. The yellow metal fell almost 17% since the start of the year and it is near 28% below its highest price of $1,921 in September 2011. The prices are up near 5% from $1,321.52, its lowest level in a year which forced the metal to enter into bear market.
Heavy selling pressure by large investors kept on pressurizing gold prices. Investors have...
What led to a sharp sell-off for the U.S. Dollar?
June 13, 2013 - 14:01
Going back to May 22 when Fed Chairman Ben Bernanke, in his congressional testimony, hinted that the U.S. central bank could decide to scale back the pace of its massive bond-buying program (consisting of $85 billion monthly asset purchases) "in the next few meetings" depending on the incoming economic data.
Talks of tapering asset purchases should be positive for the dollar. However, the U.S. Dollar Index (I.USDX), that measures USD's moves against six other major currencies, since then has dropped over 4% as recent...
US Dollar gained across the board
May 13, 2013 - 15:18
Last week US Dollar gained against major currencies as Jobless Claims fell for the third consecutive week indicating improvement in US labor market after the previous week’s release of Unemployment Rate and Nonfarm Payrolls indicated the same. It gained the third weekly rise in last four weeks against Euro with heavy gains against the AUD, JPY and GBP. ECB President continued showing readiness for further interest rate cut in his speech on May 6th. In his speech on Friday, Federal Reserve Chairman remained silent regarding the...
Global Central Banks in action
May 10, 2013 - 12:46
Credit crisis at developed world forced global economies to witness pessimism in terms of lesser growth and higher unemployment rate. World output declined to 3.2% in 2012 from 4% in 2011 and it is expected to rise with the same amount of 3.3% projection for 2013. (Source: IMF). Central Bankers around the globe are active fuelling their economies with record monetary measures to return to growth and higher employment levels. Recently held monthly meetings of major central bankers kept on following the same rule. The US Federal Reserve, the...
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