Futures Market News
South African rand benefits from stimulus conjecture
Apr 12, 2012 08:45 AM
Thursday saw the South African rand advance in value against the U.S. dollar, reversing three consecutive trading sessions of losses as propelled by commentary suggesting central bank intervention is likely in the U.S. and the euro zone, Bloomberg reports.
The currency of the largest economic system on the African continent capitalized on indications noting economy-spurring techniques are a possibility in the U.S., where Fed vice chair Janet Yellen said in New York on Wednesday that preserving low interest rates is perfectly fine while the world's largest economy recovers.
"We must bear in mind that the interest rates scenarios globally are still pretty much in play, low interest rates probably still will remain in places like U.S and Europe," trader Ion de Vleeschauwer with Bidvest Bank told Reuters.
Executive board member Benoit Coeure with the European Central Bank said on Wednesday that purchasing debt is likely to resume at the institution he serves.
Italy, one of the euro zone nations working to control bond yields as the sovereign debt scourge tightens around its banks and public finances, is preparing for a debt auction, according to Reuters.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: The Future of Natural Gas in the U.S.
Are you interested in the Energy futures market? Sign up and receive our detailed report today!
Through our exclusive research, you will have access to current global events and price projections that may help you learn how this particular market has the potential to be a strong investment as a commodity.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.