Monday, January 21, 2008
The yen was firmer next to major currencies Tuesday shortly after the Bank of Japan (BoJ) proclaims it is maintenance its overnight call rate target unchanged at 0.5 percent in favor of the 13th straight meeting. But the Japanese currency soon weakened somewhat after the stock market complete losses at the open of the afternoon session. At 1.06 pm (0406 GMT), the yen was trading at 106.23-27 yen next to the US dollar, match up to 106.12-16 yen shortly after the BoJ proclaim its conclusion and from 106.19-23 yen before the declaration.
The euro was quoted at 153.40-45 yen next to the yen match up to 153.29-34 yen after the proclamation and 153.46-51 yen earlier.' But Japan's economy itself has not go down to the level which need a rate cut and a BoJ rate cut by 25 basis points would be dubious to do much about the stock sell off '. The Japanese central bank also needs to determine if the Japanese economy can achieve a constant recovery despite emerging uncertainty about domestic private demand and the appreciation of the yen. The Bank of Japan said the nine members of its policy board chosen generally to leave the rate unchanged.
Refer: http://www.forbes.com/markets/feeds/afx/2008/01/21/afx4555413.html
The euro was quoted at 153.40-45 yen next to the yen match up to 153.29-34 yen after the proclamation and 153.46-51 yen earlier.' But Japan's economy itself has not go down to the level which need a rate cut and a BoJ rate cut by 25 basis points would be dubious to do much about the stock sell off '. The Japanese central bank also needs to determine if the Japanese economy can achieve a constant recovery despite emerging uncertainty about domestic private demand and the appreciation of the yen. The Bank of Japan said the nine members of its policy board chosen generally to leave the rate unchanged.
Refer: http://www.forbes.com/markets/feeds/afx/2008/01/21/afx4555413.html
posted by stifxonline
@ 10:08 PM
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Wednesday, January 16, 2008
Australia's foreign exchange revenue in all currencies averaged US$170 billion per day in April 2007, the Reserve Bank of Australia thought on Thursday. This show a raise of 66% from April 2004, when the previous BIS Triennial review was conducted. Australia's market share of global revenue was 4.3% in 2007; make it the seventh leading in the world. The statement said the AUD/USD pair is the majority traded currency pair in the Australian market, accounting for 45% of total foreign exchange revenue.
The survey showed that dealings in the spot market grew 24% amid 2004 and 2007, and accounted for 26% of total revenue. Movements in the outright forwards market accelerate 163%, but were still a moderately small proportion of total revenue at 9%.
Refer: http://www.rttnews.com/FOREX/Currency_mkt.asp?date=01/16/2008&item=80
The survey showed that dealings in the spot market grew 24% amid 2004 and 2007, and accounted for 26% of total revenue. Movements in the outright forwards market accelerate 163%, but were still a moderately small proportion of total revenue at 9%.
Refer: http://www.rttnews.com/FOREX/Currency_mkt.asp?date=01/16/2008&item=80
posted by stifxonline
@ 9:30 PM
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