1 
HSBC Currency Weekly
Dollar remain steady
- The dollar remained stable against most major currencies over the course of the week in thin trade due to Christmas holiday. Meanwhile, Strong U.S. consumer confidence gave the greenback a boost ahead of the final trading session of the year.
- United Arab Emirates: Saturday, December 31 - 2005 at 14:56 |
HSBC tops polls for Best Bank in FX
- HSBC has topped a 2005 magazine poll for Best Bank in Foreign Exchange among corporates, to achieve its biggest-ever haul in the FX Week Best Bank Awards, including its highest-ever ranking of number three overall, moving up four places from number seven in 2004.
- Thursday, December 22 - 2005 at 10:34 |
US dollar slides on profit taking
- The week started with dollar gaining on the market's expectation of a hike in the Fed's interest rate. However, after the interest rate hike, the dollar slid as year-end profit taking kicked in. Next week activity is also expected to be lower than normal ahead of the holidays.
- Saturday, December 17 - 2005 at 13:40 |
13th US rate rise expected
- Interest rate differentials continued to be the market’s focus. Financial markets are expecting the Federal Reserve to raise interest rate for the 13th straight time to 4.25 percent at a policy meeting on Tuesday.
- United Arab Emirates: Saturday, December 10 - 2005 at 13:30 |
Yen weakness not on agenda
- The yen was not a topic at the weekend meeting of finance ministers and the central bankers, giving market players more reason to think that Group of Seven officials have no objections to its weakness.
- United Arab Emirates: Monday, December 05 - 2005 at 09:15 |
ECB to raise interest rates
- The ECB holds its policy-setting meeting on Thursday and is widely expected to raise rates for the first time in five years, lifting its benchmark rate to 2.25% from the current historic low of 2%. ECB President Trichet stated the bank was ready to augment rates moderately.
- Saturday, November 26 - 2005 at 13:11 |
US dollar still in favour
- The dollar was well supported by speculations of further interest hikes in the US and on the back of strong US economic data. However, talks of interest rate rises in euro zone also helped the euro.
- United Arab Emirates: Saturday, November 19 - 2005 at 16:22 |
Fed rate rise boosts dollar
- Over the week, the dollar was supported by speculations that U.S. may further increase its interest rates. However, violence in France and pressure from European Central Bank officials not to raise the interest rates weighed on the single currency.
- United Arab Emirates: Saturday, November 12 - 2005 at 15:32 |
Web Feeds