Analytics, News, and Forecasts for CFD Markets: currency news — 29-03-2012.

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29.03.2012

18:32

Fed Chairman Bernanke's Lecture: "Recent stress tests showed "significant" improvement in the stability of banks”

Lower long-term interest rates have helped to stimulate the recovery of
The influence of interest rates in the housing market is "weaker than hoped for"
The credibility of the Fed helped to lower inflation expectations remain
A more transparent mechanism of communication can improve the effectiveness of monetary policy
The rate of recovery "very sluggish"
The unemployment rate remains "painfully high"
Concerns about the fiscal problems in Europe have created tensions in the markets
The crisis highlighted the need to maintain financial stability
Laid the foundations for a "slow but steady" economic recovery
New regulatory measures will reduce but not eliminate the risk of future crises
In many respects, the banks are stronger than before the crisis
The Fed prints money to buy assets
The Fed "quite successfully" kept inflation low
Forecasts on the rates are based on "the current vision of the economy," the leaders of the Fed
Technologies are becoming more powerful engine of economic growth

18:15

American focus: the yen rose

The yen rose against all of its 16 major counterparts as concern increased that Europe’s sovereign- debt crisis threatens global economic growth and stocks dropped amid safety demand. Japan’s currency reached an almost three-week high versus the dollar on speculation the country’s companies will repatriate overseas earnings before the end of the fiscal year on March 31. Speculation Japanese companies are repatriating overseas earnings before fiscal year-end also boosted the yen.

The 17-nation currency euro fell from almost a one-month high versus the dollar after economic confidence in the region unexpectedly declined in March. An index of executive and consumer sentiment in the 17- nation euro area fell to 94.4 from a revised 94.5 in February, the European Commission said today. Economists had forecast a gain to 94.5 from a previously reported 94.4, the median of 29 estimates showed. A draft statement dated March 23 showed that European governments are preparing for a one- year increase in the ceiling on rescue aid for indebted nations to 940 billion euros ($1.2 trillion) to keep the crisis at bay. German Chancellor Angela Merkel said on March 26 her country may back plans for the European Financial Stability Facility and the European Stability Mechanism to run in parallel.

The pound rose the most in two weeks against the euro after a European report showed consumer confidence fell, boosting the appeal of U.K. assets as a haven. Gilts handed investors a 1.8 percent loss this year, according to indexes the European Federation of Financial Analysts Societies. Treasuries dropped 1.2 percent in the period. U.K. house prices fell 0.9 percent in March from a year earlier, the first decline in six months, Nationwide said. U.K. banks granted fewer loans for homes than economists predicted in February, Bank of England data showed today.