Merkel and Brown call for global economy rules
German Chancellor Angela Merkel and British Prime Minister Gordon Brown argued for tougher control of the international economy, opening up a potential split with the United States on ending the financial crisis.
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Down Under Currencies Slide in FX Trading
Aussie, kiwi lower in forex trading
Both the <a title=”kiwi forex trading, Aussie forex trading, currencies FX trading, down under currencies, commodity currencies, yen carry trade, FX trading, forex trading, currency trading” target=”_blank” href=”http://www.actionforex.com/technical-analysis/daily-forex-technicals/new-zealand-and-australian-dollars-break-lower-as-yields-tumble-2009013077039/”>Aussie and the kiwi are lower in forex trading on the currency market today. Like the <a title=”kiwi forex trading, Aussie forex trading, currencies FX trading, down under currencies, commodity currencies, yen carry trade, FX trading, forex trading, currency trading” target=”_blank” href=”http://forex.gftforex.com/public/blog/item/225218″>Canadian dollar, the down under currencies are commodity currencies in FX trading. This means that global recession is taking rather a large toll on the economies connected to those currencies.
Another problem is that the down under currencies are seeing rather significant cuts to their yields. Before, the kiwi and the Aussie were seen in forex trading as high yielders. However, interest rate cuts in Australia and <a title=”kiwi forex trading, Aussie forex trading, currencies FX trading, down under currencies, commodity currencies, yen carry trade, FX trading, forex trading, currency trading” target=”_blank” href=”http://blog.gftuk.com/public/item/225173″>New Zealand have damaged the yield — giving no big advantage over lower yielding currencies.
On top of this, risk aversion has meant an almost complete cessation of the Japanese yen carry trade. And the down under currencies were major beneficiaries of the yield difference in this move. Now there is very little to temp forex traders to the kiwi and the Aussie.
See Also
- <a href=”http://www.gftforex.com/land/index.asp?aid=446″ target=”%quot;_blank%quot;”>Kiwi, Aussie in forex Trading
World currencies in FX trading
Russian Ruble: Poised to Break Through Target
Ruble continues to decline on currency marketOne of more interesting currency market dramas playing out right now is that of the Russian ruble. The government has set a target level of 36 per dollar, but that seems as though it could be smashed fairly soon.
In the last two days, <a title=”Russian ruble, ruble, currency market, forex trading, foreign exchange, financial crisis, recession” target=”_blank” href=”http://www.bloomberg.com/apps/news?pid=20601083&sid=avTAvBNZwpCc&refer=currency”>the ruble has declined about 5.5%, and not much more is needed to push the currency below the target. The global financial crisis and recession, coupled with dramatically sliding oil prices, has wreaked havoc with the ruble on the forex market.
See Also
- <a href=”http://www.gftforex.com/land/index.asp?aid=446″ target=”%quot;_blank%quot;”>forex Trading on the Currency Market
More than 160 currency pairs on the forex market - More on the Russian Ruble
The ruble on the forex market