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Thursday, August 6, 2009

Ministry of Finance of Canada is not satisfied with the course the Canadian dollar

Posted by Informative at 6:23 AM Labels: Market News 0 comments

Canadian Finance Minister Jim Flaerti today expressed its concern at the rapid change in the value of the Canadian dollar, as well as the need to adopt appropriate measures in this regard. While such rhetoric does not have a significant impact on market sentiment. However, it is clear that such comments by officials of Canada will be heard more and more often, because the Canadian dollar, to the dissatisfaction of the authorities and the exporters, vigorously moving towards parity with the U.S. currency. Comments Flaerti sounded on Tuesday evening, in response to a question from a reporter on whether the magnitude of the strengthening Canadian currency sufficient cause for intervention by the Central Bank. Flaerti prefaced his lengthy response explaining that the intervention falls within the ambit of the Bank of Canada rather than the Ministry of Finance, the Bank of Canada is responsible for monetary policy of the country against the national currency. Subsequently, the press service of the Ministry of Finance explained that Mr. Flaerti does not mean intervention, but only repeated what had already been sounded out of his mouth: "excessive exchange rate does not benefit the economy." The Bank of Canada also officially refuted the idea of a possible intervention. All this suggests that the government has no plans of large-scale action to devalue the Canadian dollar. Bank of Canada abandoned the tactics of intervention in 1998, as a little.

Wednesday, August 5, 2009

Barclays Capital believes in the Australian dollar

Posted by Informative at 12:24 PM Labels: Market News 0 comments

Australian dollar a few cannon with a minimum session, but the absence of positive mood on stock markets and the risks of a reduction in long positions in anticipation of the meetings of the ECB and the Bank of England, which will take place tomorrow, as well as a report on the U.S. labor market, which is scheduled for release this Friday, involve the possibility of greater reduction. Barclays Capital Currency strategists point out that such is possible, but in general they prefer to stick to a strategy to buy on the decline. The bank expects that the momentum of fiscal stimulus forever in the coming months that will support the revision of expectations of RBA rate increases, and may put pressure on the Australian dollar, but at Barclays Capital believe that such would be short-lived, given the strong recovery prospects for the developing economies of Asia, the dynamics of which is becoming increasingly important for the Australian currency. At Barclays Capital had forecast for the AUD / USD at the end of the year at $ 0.86 and $ 0.90 at the end of the second quarter of 2010.

The dollar is increasing against the background of the negative statistics

Posted by Informative at 12:24 PM 0 comments

The dollar strengthened slightly against the euro and other currencies in the rest of the auction on Wednesday against the backdrop of falling U.S. stock markets and the adverse report on business activity in the services sector, the United States. The index of the dollar rose to 77.759 to 77.72 yesterday in New York. Euro traded at 1.4380 against 1.4399 on Tuesday evening. The index of purchasing managers in the ISM service sector unexpectedly fell to 46.4, while analysts were expecting growth of 48 to 47 per prev. period. This is a cool fervent supporters of the theory of "green sprout" and, obviously, at some time would deprive the investor interest in risky assets. Meanwhile, manufacturing jobs in the United States grew by 0.4% in June. Report on Employment in the private sector ADP, which preceded the main event - the record levels of employment for the payroll - showed a reduction in the number of jobs in July at 371,000, far less than in June.

Barclays Capital: pound dollar may rise to 1.7350

Posted by Informative at 12:24 PM 0 comments

Pound / Dollar Breaks line resistance at 1.7020 area. According to analysts Barclays Capital, a British currency has a real chance to get to 1.7350. This level represents a 50% correction of the fall of the pound in November 2007 to January 2009, therefore, more likely, even if he is able to reach those heights, further strengthening the case will be very difficult. At the present time, with a maximum of 1.7042, the pound / dollar began to roll back and approached the level of support at 1.7000/1.6990. Traders attribute this to the fact that the ADP for the labor market had a dollar support. Stop below 1.6990.

Thursday, August 6, 2009

Wednesday, August 5, 2009

Monday, August 3, 2009

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