Canadian Dollar Gains in Forex Trading

Directionless trading until Thursday? Nothing spectacular stands out from the overnight session with mostly rhetoric and a few minor economic releases. In Europe we saw the German June CPI numbers showing an annual inflation rate of 1.8% and was more or less in line with expectations. These came from Hesse while similar numbers from Bavaria had a slightly higher number at 2.4%. It keeps the rate at the high end of targets and will keep the calls for a firm interest rate policy int... more

Few upward currency movers The USD is at 1.8105, a .04% shift, a .00080 change.  The 52 wk high is 1.90260 and the 52 wk low is 1.70460.   The Yen is down as well, with a .32000 change (.15%) at 211.56000.  The Euro is also down to 1.44865, a change of .00560, or .39%.   In fact, there were very few upward movers.  Saudi’s Riyal was up .02%, India’s Rupee was up .54%, Pakistan’s Rupee was up .27% and Sri Lanka’s ... more

Embattled BoJ Governor Has Upper Level Support While many economists and analysts are calling for Fukui to resign to aid Japan’s economy, the Prime Minister and now the Economics Minister heartily back Fukui to stay in his position. Analysts worry that Japan’s ZIRP (zero interest rate policy) will not likely end with this continued scandal, but the government is slow to remove Fukui, intending to stay the crisis by downplaying it. See Also Global Forex Trades Forex Trad... more

IPO for Rosneft Imminent Shares are expected to be offered at a $5.85 to $7.85 range.  The IPO should debut next month, following a road show to increase interest. The shares will be traded on the London and Moscow markets.  The cash raised will pay Rosneftegaz’s, Rosneft’s largest stockholder, loan of $7.5 bn, taken out last year to increase their gas holdings. See Also New to Forex? Try Forex Trading ... more