Archive for March, 2009
Yen Weakness Prevalent at the Start of this Week
Posted on23. Mar, 2009 by admin.
The JPY has seen some odd behavior this past week. Appreciating against the USD directly after the announcement of the Fed’s new quantitative easing program, the JPY actually lost value against most other currencies. This highlights two important analytical points. First, the USD’s recent weakness is due to the Fed’s program and not a coincidental [...]
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Better GDP Numbers Helps the Yen Rise
Posted on12. Mar, 2009 by admin.
The JPY gained strength for the second day in a row and continued its gains into the Japanese trading session. The release of Japanese Final GDP came out better than expected. This helped to increase the bullishness of the JPY. The USD/JPY was trading lower near the 96.20 level early this morning.
The updated 4th quarter [...]
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Yen Bullishness Set to Continue as Economic Crisis Worsens
Posted on06. Mar, 2009 by admin.
The Japanese currency experienced a bullish trading session yesterday, as it appreciated against most of its major currency pairs. The JPY gained about 40 pips versus the USD during yesterday’s trading session, and closed at 98.23. Its gains against the EUR were more dramatic, as it gained over 150 pips to close at 123.57. This [...]
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JPY Sinks as Safe-Haven Currency Ditched
Posted on05. Mar, 2009 by admin.
Forex traders ditched the JPY yesterday as they looked for short-term riskier assets. The Japanese Stock market made massive gains, largely influenced by Chinese Premier Wen Jiabao revealing that China will make drastic moves to push China’s economic growth to 8%, rather than the forecasted 6%. This will include possibly doubling the 4 trillion Yuan [...]
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RBA Surprises the Market with Interest Rate Decision
Posted on04. Mar, 2009 by admin.
The Australian Dollar has seen particularly heavy volatility due to major economic events in the Aussie economy the past two days. Yesterday the Reserve Bank of Australia (RBA) held its cash rate steady at 3.25%, taking the markets by surprise. Economists had forecasted a 25 basis point cut in the Aussie Interest Rate which the [...]
