http://www.blogger.com/feeds/32907147/posts/summaryFri, 22 Sep 2006 21:07:15 +0000http://www.gocurrency.com/forexmoves/Ian McAfeeBlogger115http://www.blogger.com/feeds/32907147/posts/summary/115930025627956247Tue, 26 Sep 2006 19:16:00 +00002006-09-26T15:53:24.954-04:00Riots broke out in Hungary after an audio clip surfaced of Prime Minister Ferenc Gyurcsany saying how the government lied about the state of the economy to help him be re-elected. Hungarians trying to be part of the European Union and adapt the Euro needs to have below a 3% of GDP deficit to qualify, where it is currently forecasted to be 10.1% this year. To do this there are increases and http://www.gocurrency.com/forexmoves/2006/09/riots-raise-rates-in-hungary.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115895551918641244Fri, 22 Sep 2006 19:50:00 +00002006-09-22T16:05:19.213-04:00South Africa's current account deficit number came in at a deficit of 6.1% of GDP in the second quarter of 2006. Although it is contracting, as last quarter was 6.4%, the bigger picture is still bearish for the South African rand. With a slowing growth environment, investors will generally put countrieshttp://www.gocurrency.com/forexmoves/2006/09/looking-deeper-than-numbers-in-south.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115815949130383761Wed, 13 Sep 2006 14:21:00 +00002006-09-22T14:06:59.893-04:00 The chart to the right shows the last year of price action for the EUR/NOK. With oil prices tumbling and Norway being a key exporter of oil, the change shows through in the strength of the Norwegian Krone. Another primary concern is the central bank rate for Norway. Prices actually declined in the month of August meaning that the year-on-year inflation level fell from .6% to .4%, below the http://www.gocurrency.com/forexmoves/2006/09/eurnok-unstoppable.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115869595986906653Tue, 19 Sep 2006 16:55:00 +00002006-09-22T14:05:54.913-04:00A military coup invaded Bangkok with tanks, and soldiers seized radio and television stations. Prime Minister Thaksin Shinawatra declared a "severe state of emergency" via Channel 9 out of New York as the rebellion called for his resignation. The Thai Baht dropped a hard 2% against the Dollar in less than 2 hours. The chart portrayed shows the Thai Baht plotted against the US Dollar over the http://www.gocurrency.com/forexmoves/2006/09/coup-scares-off-baht-investors.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115826853410230698Thu, 14 Sep 2006 20:06:00 +00002006-09-15T09:31:53.073-04:00The Reserve Bank of New Zealand keeps rates unchanged at 7.25% but Allan Bollard say “we are less confident that no further policy tightening will be required in this cycle”. The chart shown is the AUD/NZD plunging over the last five days from 1.1867 to 1.1365. The New Zealand Dollar also rallied against the United States Dollar and the Japanese Yen.http://www.gocurrency.com/forexmoves/2006/09/hawks-help-kiwi-spread-its-wings.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115772820114842590Fri, 08 Sep 2006 14:50:00 +00002006-09-08T11:11:51.803-04:00The Gulf Cooperation Council (GCC), an alliance between nations around the Persian Gulf, talks of having a single currency for the region. Criteria for admission has yet to be decided on before plans can be ratified. The criteria being discussed are similiar to the criteria for the Euro, such as certain levels of inflation, government deficit, interest rates, and foreign currency reservces. http://www.gocurrency.com/forexmoves/2006/09/single-currency-in-gulf.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115688795833921210Tue, 29 Aug 2006 21:24:00 +00002006-08-29T17:45:58.773-04:002006-08-28 17:17 (New York) By Yumi Kuramitsu Aug. 29 (Bloomberg) -- Singapore, a city-state with gross domestic product one 40th that of Japan, is poised to overtake Tokyo as Asia's biggest currency trading center, fueled by investor demand for emerging-market assets. China and India are luring funds from Japan as investors seek bigger returns in the world's fastest-growing major http://www.gocurrency.com/forexmoves/2006/08/singapore-stalks-tokyo-in-drive-to-be.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115645777589754885Thu, 24 Aug 2006 21:39:00 +00002006-08-24T18:16:16.016-04:00It is the third day in a row of the real weakening against the dollar. After gaining over 14% in the last year real fell 0.4% to 2.1604 from 2.1516 per dollar. Fundamentals are breaking down in Brazil as the unemployment rate is it it's highest in over a year. The budget surplus also came in less than expected.http://www.gocurrency.com/forexmoves/2006/08/brazilian-real-finally-takes-breather.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115627125529535548Tue, 22 Aug 2006 18:03:00 +00002006-08-22T14:27:35.303-04:00With hyperinflation in Zimbabwe, the Reserve Bank of Zimbabwe was forced to devalue the Zimbabwe dollar. Three zeros are being cut off the country's banknotes, and August 21st was the last day to turn in the old currency. Many problems arose as people could only cash in 5 billion Zimbabwe dollars (~$200 value). The rest of the money was confiscated. Because of this, the past week citizens http://www.gocurrency.com/forexmoves/2006/08/zimbabwe-issues-new-currency.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115619667896799791Mon, 21 Aug 2006 20:47:00 +00002006-08-21T17:44:38.996-04:00EUR/JPY pushes up 160 pips since Friday morning (100 pips this morning) to 149.73, making a new all-time high. Most currencies rallied against the dollar, but the Bank of Japan said it will move slowly before hiking rates again. This along with rising oil costs keep the Yen down.http://www.gocurrency.com/forexmoves/2006/08/euro-pushes-to-new-all-time-high.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115591234234501468Fri, 18 Aug 2006 14:16:00 +00002006-08-18T10:45:42.500-04:00Starting at approximately 2:30 AM EST, after details were leaked about the new Convergence Programme report due to be submitted to the EU on September 1, the EUR/HUF moved 470 pips to 279.20, retracted and moved up to a new high at 279.61. The report is worse than expected with public debt likely to stay high until the end of the decade.http://www.gocurrency.com/forexmoves/2006/08/eurhuf-rockets-500-pips.htmlIan McAfeehttp://www.blogger.com/feeds/32907147/posts/summary/115584170204274343Thu, 17 Aug 2006 18:40:00 +00002006-08-17T15:08:22.050-04:00Dollar-Yuan falls 200 pips USD/CNY fell .25% from 7.9885 to 7.96865 The Yuan rallied against the dollar like other currencies did, but abnormally far as it appears there was no central bank intervention.http://www.gocurrency.com/forexmoves/2006/08/yuan-volatility-sparks.htmlIan McAfee