Archive for the ‘Currencies’ Category

RBA, The Reserve Bank of Australia, decided on Tuesday to keep the interest rates unchanged for the third month in a row. We continue to see strong numbers for Australian employment and growth, and expect AUD to continue being strong against the USD with many carry traders moving to the pair (USD/AUD).

Strong growth among Australia’s trading partners

Economic data for the June quarter indicate strong growth, around 6 %, for Australia’s major trading partners. China, Japan and Korea had a stronger growth than expected, while the US economy grows less than expected.

Economic conditions in Australia

First, the Australian labour market has continued to show more jobs, while employment increased by over 46 000 jobs in June, growing 3.25 % since (more…)

Nationalbanken, Denmark’s centralbank, released info about their currency reserve yesterday. And it’s clear that there have not been much action by the Danish centralbank.

It apprears the currency reserve descreased 2.2 million DKK to 438.4 million DKK. The new balance is a result of sold Danish currency for 1 million DKK and a foreign loan for 1.2 million DKK.

There was no interventions by the Nationalbank in June.

Neonet, a Scandinavian company that offers execution services in equity trading, is now launching a new trading algorithm to conceal liquidity. The company is already well-known maker of systems for trading robots and algorithmic trading.

Dark algorithm – Popular among large trading firms?

Being able to trade shares and currency, without the trade can be seen on the market, is something that has become increasingly popular. The development of the European marketplace has driven the demand of the new generation of algorithms that can provide access to non-displayed (dark trading) liquidity in order entry.

Perfect for (more…)

As the stock markets are starting to take a dip again, investors are moving away from smaller and riskier markets and currencies.

Swedish krona are having a hard time

One of the currencies that had a hard hit is the Swedish Krona, falling 1.35 % yesterday. It’s expected to fall from (more…)

The latest days of increased stock market indecies have weakened the US Dollar (USD) and strenghtened many of the smaller currencies, such as the Swedish Krona (SEK), British Pound (GBP) and the Franc (CHF). We do expect a falling stockmarket within short (1-2 weeks) and a falling risk aptite, (more…)

Friday the 20th will bring a lot of interesting data, that most likely will effect the direction of many currencies. The pound will be strongly effected by the GBP retail sales, while the USD will be dependent on numbers from the consumer confidence index. My bet is that the pound will drop, since the data will probably come in lower then expected.

Feb 20, 09:30 GMT – GBP Retail sales

GBP Retail sales with a forecast of: -0.1%; Previous: 1.6%

Fri Feb 20 – EUR stimulus package

Germany´s Bundesrat upper House of parliament votes on second stimulus package

Fri Feb 20 13:30 GMT – CPI in America

US Core CPI. Forecast: -0.1%; Previous: -0.7%

Feb 24 15:00 GMT USD – Consumer confidence

US Consumer Confidence
Forecast: 37; Previous: 37.7

Feb 24 15:00 GMT – USD

Bernanke to testify to examine the US financial system

Feb 25, 15:00 GMT – US Home sales

US Home sales. Forecast: 4.75M; Previous: 4.74M

Feb 26, 09:00 GMT, Germany Unemployment rate

Some important data for the Eurozone – Germany Unemployment rate. Previous: 7.8%

The Swedish Krona (SEK) had a hard day. New statistics about the GDP showed scary results. Swedens economy are predicted to decline 2.4 % during 2009, from the earlier 1.4 % estimate. At the same time, the interest rate have been cut to 1 %. Not happy time for currency traders trying to profit on a stronger krona. Only this Tuesday, the currency lost between 2-3 % to most of the majors. Below you can find the latest forex spot exchange rates:

• USD/SEK 8,83
• EUR/SEK 11,13
• GBP/SEK 12.59
• DKK/SEK 1.49