Rand Advances with Stocks & Metals

South African randThe South African rand rallied today, rising to the highest level in more than a week against the US dollar, as stocks and metals advanced after the speech of Federal Reserve Chairman Ben S. Bernanke last week.Bernanke said last Friday that the Fed has means to support growth of the US economy, improving market sentiment....

Fundamentals are Bad for US Dollar, But Week Wasn’t Bad

US DollarThe fundamentals this week were negative for the US dollar, weakening the currency against some major counterparts, but performance of the greenback wasn’t that bad, considering all the pressure to the downside.There were plenty of bad new for the dollar this week. Bad housing data, rising unemployment claims and slower that...

Pound Goes Down as UK Economy Slows

Great Britain poundThe Great Britain pound weakened against the Japanese yen and slowed its advance versus the US dollar after the report showed the UK economy grew with slower pace in the second quarter.The revised figure for growth of UK gross domestic product in the second quarter of 2011 was 0.2 percent, the same as in the preliminary estimate. It indicates slower expansion, compared to 0.5 percent growth in the first quarter....

Euro Falls for Second Day vs. Dollar

EuroThe euro fell against the US dollar for the second day and erased gains versus the Swiss franc today as investors are less willing to buy the currency amid signs of problems in Europe and concerns of global economic slowdown.The decline of consumer confidence in Germany had its negative impact on the shared European currency. GfK stated that German consumer confidence fell from 5.3 to 5.2 this month and wrote in the report:Economic...

Australia’s Dollar Weakens on Germany’s Consumer Confidence

Australian dollarThe Australian dollar fell today against most major currencies, before rebounding, as the report showed consumer confidence in Germany declined this month, reducing appeal of higher-yielding assets.The drop of German confidence wasn’t very big as the GfK indicator retreated just to 5.2 in August from 5.3 in the month...

SNB Moves In, Franc Moves Back

Swiss francThe Swiss franc retreated today from the yesterday’s records against the dollar and the euro as the Swiss National Bank expanded measures aimed to tame the excessive appreciation of the currency.The SNB repeated that a strong currency is a ”threat” to the nation’s economy. As a result, the bank decided to increase pressure on...

Pound Drops with Higher Trade Deficit

Great Britain poundThe Great Britain pound dropped after macroeconomic data provided today some unpleasant surprises, including the unexpected growth of trade balance deficit and decline of manufacturing.The UK trade balance deficit widened to £8.9 billion in June from £8.5 billion in May. Traders hoped for decrease of the deficit to £8.2...

Fed Plans Keep Zero Rates till 2013, Dollar Hurt

US DollarThe US dollar slumped against some other currencies, including the euro, the yen and the franc, after the Federal Reserve kept its key Federal Fund rate near zero and signaled that it may keep interest rates exceptionally low till mid-2013.The Federal Open Market Committee said in its statement that “economic growth so far this...

Australian Dollar Attempts Stop Decline, Fails

Australian dollarThe Australian dollar attempted to pare its losses today after Asian stocks rebounded, but this attempt wasn’t successful, meaning that the currency heads for a ninth straight session of losses.The MSCI Asia Pacific Index posted a decline of 1.7 percent, rebounding from the drop by 5.5 percent. The Australian currency...

Impact of BoJ Intervention on Yen Wanes

Japanese yenThe Japanese yen jumped against all other most-traded currencies today as traders fled to safety of the yen, fearing the financial problems of the US and Europe.The Japanese policy makers signaled that they may take steps to curb gains of the currency. In fact, the Bank of Japan already intervened on August 4, but the impact...

More of Sarah Palin and the Iowa State Fair

posted at 12:45 pm on August 11, 2011 by Tina Korbeprinter-friendlySo far, the Hot Air Express’ schedule in Ames looks like this: One campaign event down, several more to go, plus the big draws of the debate and straw poll. But, all of a sudden, no event looks to be more exciting than the Iowa State Fair Friday — and not just because...

SNB Moves In, Franc Moves Back

Swiss francThe Swiss franc retreated today from the yesterday’s records against the dollar and the euro as the Swiss National Bank expanded measures aimed to tame the excessive appreciation of the currency.The SNB repeated that a strong currency is a ”threat” to the nation’s economy. As a result, the bank decided to increase pressure on the...

Breaking: Reid appoints John Kerry, Patty Murray, and Max Baucus to Super Committee

posted at 6:05 pm on August 9, 2011 by Allahpunditprinter-friendlyThat’s precisely what we need to reach a grand bargain. Hard-left dial tone Patty Murray and a guy who spent the past Sunday muttering in front of TV cameras about a “tea-party downgrade.” Bonus fun fact about Murray via Amanda Carpenter: She’s the head of the DSCC this...

London rioter: “We’re just showing the rich people that we can do what we want”

posted at 4:45 pm on August 9, 2011 by Allahpunditprinter-friendlyTwo clips to usher in night four of Droogfest 2011. The common thread is that in both cases you’re watching rampaging cretins behave in a quasi-civilized manner. In the first, two giggly girls chat calmly with the BBC about the “mad fun” they’re having; in the second, rioters...

Palin knocks it out of the park

posted at 10:05 am on August 9, 2011 by J.E. Dyerprinter-friendlyFew people in the public eye have said anything useful about the recent unpleasantness with the national debt and the national credit rating.  The president hasn’t.  The vice president hasn’t.  Surprisingly few of the declared Republican candidates have. ...

Canadian Dollar Falls Along with Other Commodity Currencies

Canadian DollarThe Canadian continued continued to fall against the majors today, along with the other “commodity” currencies, as the global growth perspectives remained dim.The loonie, as the currency is often called, fell to the lowest level in two weeks against the US dollar, traded with a great volatility against the euro and demonstrated...

Yen Slumps on BoJ Intervention

Japanese yenThe Japanese yen dropped heavily against everything on the Forex market today, following the currency intervention by the country’s central bank.The yen declined most notably against the US dollar, demonstrating the biggest daily drop since October 2008. It also fell to the lowest rate against the euro since July 11 and reached...

Rick Perry: I support constitutional amendments to ban gay marriage and abortion

posted at 5:25 pm on August 3, 2011 by Allahpunditprinter-friendlyTwo caveats to his otherwise strict support for the Tenth Amendment, both of which happen to serve the agenda of social conservatives whose votes he’s depending on. He backed away from his “states’ rights” defense of legalizing gay marriage last week; here’s the inevitable...

Tea Party won the first skirmish of a long, long fight

posted at 2:05 pm on August 3, 2011 by Ed Morrisseyprinter-friendlyDid anyone win in the recently concluded deal that reduced the upward trajectory of federal spending?  In my column for The Week, I argue that Barack Obama certainly was the big loser, having blown an opportunity that he himself cultivated for months to demonstrate...

zwysophia - 张玮夷

...