Exchange Rate Now!

While most major economies are trying to revive themselves from the financial crisis which shocked the world in Oct 2008, another mini-crisis occurred recently when President Obama mooted plan to further control and constrict major financial institutions (Banks and Hedge funds) for reaching a critical size that will enable them to weld substantial market influence.

Another spanner was thrown by Greece recently, howbeit it only affects the Euro zone.

One of the countries in Europe which had already adopted the Euro as the national currency, Greece financial stability came under scrutiny recently due to concerns if the Greek government can actually pay off the national debt and guarantee the levelling of government bonds.

Things cumulated into a jittery forex trading market on 28th Jan 2010 when a sell-off of Euro began, enabling forex traders who punt on the US Dollar smiling all the way to the bank (more…)

As we step into this new year, we left behind 2009 in what was a tumultous year where exchange rate is concerned. We stepped into year 2009 where oil prices declined steeply, before a sharp upturn occurred in the later part of the year. We stepped into 2009 where the world financial markets was reeling from bank collapse before stock market climbed in the later part of the year.

We stepped into year 2009 when the US Dollar was strengthening against all other major currencies and the US Dollar finished on a strong note.

Here are some of the possible predictions for year 2010.

1. US Dollar continue to appreciate – Year 2010 might be another good year for US Dollar, at least in the early part of the year. All the Detroit big 3, Dubai World and Banks will need more time to prove their stability. Therefore, it is expected for US Dollar to be the preference of parking of wealth.

2. South African Rand – Year 2010 promises to change the whole of South Africa with the arrival of the FIFA World Cup. With high expectations, the Rand would be a hopeful punt with forex traders and for the South African themselves, hoping that (more…)