March 2013

The Economy Behind the Japanese Yen

More than two thirds of the foreign exchange market consists of only seven currencies, and one of the largest of those currencies is the Japanese Yen. That is not surprising when one considers that Japan is one of world’s biggest economies and the fourth largest exporter measured in U.S. dollars.  Read more

Euro Consumer Confidence Fell Short of Expectations in March

Euro zone’s Consumer Confidence improved for the fourth consecutive month but less than analysts’ expectations in March indicating signs of the region’s sluggish growth.

The European Commission in Brussels released a report today showing that the index household confidence marginally rose to minus 23.5 from minus 23.6 in February. Analysts projected a minus 32.2 according to the median of 26 estimates in a Bloomberg News Study. In the wider 27-member European, March consumer sentiment was unchanged from the last month at minus 21.6. Read more

Singaporean Dollar – A Safe Haven Currency?

When people in a market find a secure place to put their money during stormy economic times, they are often said to have found “a safe haven.” Unfortunately, in the Forex market, there are not a lot of safe currencies to put your cash in these days. In recent decades the U.S. Dollar, the Japanese Yen and the Swiss Franc were considered such havens, largely because those currencies tend to rally when the stock market goes down, so people in stocks like to have some investments in those currencies in self-defense against sell-offs in the stock market. Read more

Update: House of Parliament to Vote on Eurogroup-Cyprus Agreement

The Cyprus’ House of Representatives is due to meet later today to approve a bill for a “one-off” levy on bank depositors in the country.

However, passing the bill in parliament is still far from certain. Tuesday’s vote originally planned Sunday has been twice postponed. Additionally, three parties specifically DIKO with eight seats in the parliament, Akel with 19 seats and Edek with 5 seats already indicated that they will oppose the bill. Read more