Does a Declining Dollar Spell Doom? September 13, 2008
Posted by malibusac in Currency News.Tags: currency, currency broker, currency change, currency chart, currency conversion, currency convert, currency day trade, currency dealing, currency e trading, currency exchange, currency foreign trading, currency forex trading, currency markets, currency rate
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When the dollar is low, you have to spend more dollars to buy a certain amount of foreign currency. Because prices in foreign countries tend to stay in line with their local currencies, a falling dollar generally makes buying things abroad more expensive.
Back home in the United States, the effects are a little more subtle. For domestic businesses that don’t have to import supplies or materials for production, the impact of currency fluctuations is relatively small. On the other hand, for businesses that rely on international trade, changes in the values of foreign currency can have a huge effect on their profitability. Foreign-based businesses find that the prices they charge in dollars translate to a smaller amount of foreign currency. In response, they can either accept lower profits, potentially hurting their stock prices, or increase their dollar prices to compensate for the adverse currency move, which can potentially hurt their sales.
Taiwan eases China currency rules September 11, 2008
Posted by malibusac in Currency Topic.Tags: currency, currency broker, currency change, currency chart, currency conversion, currency convert, currency day trade, currency dealing, currency e trading, currency exchange, currency foreign trading, currency forex trading, currency markets, currency rate
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They will also be available at foreign-currency trading counters at tourist hotels, airports and gift stores.
Tourist influx
The move comes just a few days before the start of regular direct weekend charter flights between Taiwan and China – marking a new chapter in relations between the two political rivals.
But the step is also considered a virtual necessity, since from next month up to 3,000 Chinese tourists will be allowed to visit Taiwan each day.
The move will provide a legal channel for them to exchange their money for local currency to spend in Taiwan.
The absence of a currency exchange service between Taiwan and China had led to rampant black market currency trading.
Under the new regulations, anyone will be able to buy or sell Chinese yuan at authorised institutions, although the government has initially set a cap of 20,000 yuan – just under $3,000 (1,500) – for each transaction.
BlackRock To Acquire Impact Investing September 9, 2008
Posted by malibusac in Currency Topic.Tags: currency, currency broker, currency change, currency chart, currency conversion, currency convert, currency day trade, currency dealing, currency e trading, currency exchange, currency foreign trading, currency forex trading, currency markets, currency rate
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“We look forward to incorporating Impact’s functionality into Aladdin’s analytics and trading capabilities and are particularly excited about the enhanced equity analysis and portfolio visualization capabilities this will provide – further strengthening the platform’s multi-asset capabilities,” commented Robert Goldstein, Managing Director and head of Relationship Management for BlackRock Solutions. “We believe the combination will provide tremendous value to both Impact and BlackRock Solutions clients. Given that BlackRock is among Impact’s oldest clients in support of our asset management business, this was a very natural functional and organizational fit.”
“Impact recognized that we needed a partner to expand the scope of our capabilities and continue to meet the growing demands of our clients,” said Nigel Allfrey, Chief Executive Officer of Impact Investing.
Supports getting violated by bad global September 7, 2008
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We had a catastrophic fall after the Fitch currency downgrade came in.
Global things turned quite bad as well and we had a very, very big sell off. Sensex was 650-points down and finally closed at 12,670. Nifty was down 180 points all the way to 3,860. We have pretty much come back to the 3,850 level. This is a 15-month low in terms of a closing for the market. There were not too many places to hide.
Banks got hit the hardest after that currency downgrade. We saw ICICI Bank, and HDFC Bank losing 8-10% apiece, as the Nifty bank index was down very sharply, nearly 8%. All the familiar sectors- the rate sensitives – whether it was capital goods led by the BHELs, GMRs, JP Associates and Punj Lloyds of the world, the real estate space led by Unitech and DLF and with all the other midcaps in tow and the metals space as well.
Sanford shares a bumper catch September 5, 2008
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The increase is despite the company facing strong headwinds from both the currency and soaring fuel prices. Chairman Bruce Cole told the shareholders meeting the high exchange rates “continue to inflict a baleful influence.” The company’s average currency rate in the latest six months was $US0.77.2 compared with $US0.68.9 in the same period a year earlier and its fuel costs rose 24% – the latter increase was contained by efficiency gains since fuel prices rose an even steeper 50%.
Barratt still doesn’t think the first- half result was adequate. “I would like to see further improvement.”
If the analysts are correct, such an improvement is likely. Betting on continuing strong fish prices and a decline in the New Zealand dollar, just about all of them have a buy recommendation on the stock, despite the heady share price gains already achieved.
State Street Corporation Achieves Record Revenue of $2.7 Billion September 3, 2008
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Logue added, “In these markets, we continue to experience strong year-over-year results in securities finance and trading, as well as net interest revenue. We are pleased to achieve positive operating leverage on both a quarter-to-quarter and on a year-over-year basis, the fifteenth consecutive quarter as measured on a year-over-year basis.”
Logue concluded, “Our strong results of the quarter, plus the benefit of the $2.8 billion in equity capital that we issued in early June, enhanced the Corporation’s solid capital position. Given the strength of the first half of the year, we now expect both growth in operating earnings per share to approach the high end of the 10 to 15 percent range and achievement of operating return on equity to approach the high end of the 14 percent to 17 percent range in 2008.
Rand in position to put on more altitude, says analyst September 1, 2008
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However, Glynos said the higher interest rate differential between South Africa and trading partner countries would support the local currency. The US Federal Reserve’s target Fed funds rate is 2 percent, while the South African Reserve Bank’s official repo rate is 12 percent. .
