Comments from Norway’s central bank, Norges Bank, made gains for the Krone against Euro. “Key interest rates should be increased to a “more normal level”, according to Norges Bank.

Analysts expects gains in Norwegian interest rates

However, currency analysts expect Norway to increase interest rates earlier than previously Read the rest of Norwegian krone gains after central bank comments »

The Royal Mint just launched 2010 ‘Coins of the Year’. Below you find some of the royal coins for 2010.

Above: 50 pence coins

Above: Two pound coins

Background of Coins of the Year

Coins of the Year are targeted to those collecting coinage. Every year, new coins are launched and by purchasing a ‘Coin of the Year Set’ you can start a long term collection of minted legal tender.

In the long term, unusual coins in limited editions often turns out to be a good investment. All coins from Celebrate Britain come in excellent uncirculated quality, with superior-quality finish than circulating coins.

Coins of the Year 2010

The coins for 2010 are a 70-year celebration of the ‘Battle of Britain‘, a turning point of the Second World War. British pilots were fighting against German forces and it certainly was a risky job. Average life expecacy for pilots from Britain was only 8 days.

Special celebration coins for 2010

The five pound coin below is not in circulation, but you can Read the rest of British coins of the year launched »

As we previously predicted it became inevitable for Bank of Japan (BOJ) to hold back its plans for intervention. JPY/USD went from 83 yen per dollar to 85.47 shortly after the intervention.

Strong yen – harmful for Japanese economy says Noda

Early this morning (9:30 ET) Yen reached a new 15-year high. This time, Bank of Japan was quick to intervene in the currency markets, selling yen in exchange for us dollars, after a week of possible intervention warnings. This intervention was made to counter the adverse impact of the strong yen, and was the first official intervention in the currency market since 2004.

“We conducted the intervention in order to avoid excessive movement in the currency market. The Bank of Japan will continue to Read the rest of Yen strongly decreases in value after intervention »

The yen surged to 15-year low on Friday against the dollar as fading confidence for the global economy have risen demand for the Japanese currency.

Will Bank of Japan intervene?

The latest move raised currency speculation of the Japanese central bank intervening in the forex market, which is rather uncommon Read the rest of Possibillity of yen intervention rises »

The outlook for US Dollar have been going down, down and down against the Yen. Is it time for a turn-around soon?

New Economic Slowdown?

After the latest key U.S economic data was released, investors was first seriously concerned about the US economy showing, when July showed 27 % slowdown of previously owned U.S homes. But later, many forex investors insted became worried about the world economy instead and dollar started to rise again against many major currencies.

At the same time, Nikkei 225 rose to a 15-month low, while the Japanese currency become even stronger – 84 yen per USD. Yen is currently at its strongest value against USD this decade. Lets see how things move forward in the end of the week.

Sterling Pound against US Dollar is now in an up-trend after bottoming at 1.4425. How long will it continue? Let us look at the latest currency graph for GBP/USD.

Current intraday support levels are at 1.5589 and 1.5710, while weekly resistance levels are at 1.6460 and 1.70. It’s no secret that many analysts expect Sterling to rise against the dollar. If the US economy continue to show poor statistics, we believe GBP will rise sooner rather then later.

What do you think about the latest strength for GBP? Will it continue or break down?

RBA, The Reserve Bank of Australia, decided on Tuesday to keep the interest rates unchanged for the third month in a row. We continue to see strong numbers for Australian employment and growth, and expect AUD to continue being strong against the USD with many carry traders moving to the pair (USD/AUD).

Strong growth among Australia’s trading partners

Economic data for the June quarter indicate strong growth, around 6 %, for Australia’s major trading partners. China, Japan and Korea had a stronger growth than expected, while the US economy grows less than expected.

Economic conditions in Australia

First, the Australian labour market has continued to show more jobs, while employment increased by over 46 000 jobs in June, growing 3.25 % since Read the rest of Australia keeps interest rates at 4.5 % »

Norges Bank decided today to keep the key interest rate unchanged at 2 %, as expected by Bloomberg forecasts.

Governor Svein Gjedrem explain why:
“Recent developments in the Norwegian economy have been broadly in line with expectations. Activity is rising moderately. Inflation has slowed and is now below 2 per cent”.

Better global growth

Norges Bank find the global economic growth to be slightly stronger than expected. The outlook for Europe is now a bit better, while the growth of the US economy is more uncertain.

OnlineForex.net find it likely that Norway keep main interest rates unchanged at 2 % for another few months.

After reaching 6 month high last week, pound sterling is now falling to it’s lowest lever in more than a week. Reason: Data signals Britain is not recovering as quick as expected.

Housing market slows down

The first decline in property prices appeared in July, showing a slower sales growth then previous months. Sterling fell to $1.5740 in London afternoon trading hours.

Analysts such as John Hydeskov, Danske Bank, believe Sterling is overbought and should have a correction. He suggest buying Norwegian krone instead..

Vladimir Putin seek to cut the percentage of foreign currency loans more then 50 %. He imposed new tax breaks with reductions for local loans compared to foreign loans.

Russian Debt levels

Russian companies have $294 billion of international and 12.8 trillion rubles ($410.8 billion) of local loans, according to Bank of Russia.

Lower inflation and borrowing costs

The interest rate has been cut 14 times in Russia the last year, to 7.75 % in July. At the same time, inflation gone down drastically from over 10 % to 5.8 % in June. Read the rest of Ruble strenghtens after Putin try to reduce foreign debt »

Nationalbanken, Denmark’s centralbank, released info about their currency reserve yesterday. And it’s clear that there have not been much action by the Danish centralbank.

It apprears the currency reserve descreased 2.2 million DKK to 438.4 million DKK. The new balance is a result of sold Danish currency for 1 million DKK and a foreign loan for 1.2 million DKK.

There was no interventions by the Nationalbank in June.

Just in time to Singapore Youth Olympics (14-26 August, 2010), Singapore launches Commemorative Coins.

An alternative to Singapore dollar? Perhaps not, but below you find some of the most colorful coins we seem in a long time.

• The $10 gold proof-like coin will come in 1/4 oz of 999.9 gold. Mintage of 5000 coins.
• The $5 silver proof-like coin will come in 1 oz of 999 fine silver with hologram effect. Mintage of 10 000 pieces.
• $2 Bi-Metal brilliant uncirculated condition, with a mintage of 30 000 coins.

Grab one now – there is only a limited edition of the Singapore Youth Olympic Coins.

The British pound also experienced increased resistance on Monday after the first quarter of UK economic data was worse than previously expected. There are many indications now that the recession been worse than expected and economic growth lower then earlier estimated.

UK inflation way over target level

The country’s inflation in recent months is now 3.7%, significantly above the Bank of Englands target level of 2%. Britain could be forced to raise interest rates relatively soon, as MPC member Andrew Sentance already voted for. But Mr. Archer at the Bank of England believes inflation is on a downward trend and believe rates will be kept at 0.5% throughout 2010 and well into in 2011. How credible is the new government and how well will they keep Britain’s a currency? If the BOE will not to curb inflation in the near future you can expect the British pound to decrease significantly.

When do you think Britain will raise interest rates?

The Canadian Dollar is advancing against it’s major trading partners, in particular USD.

For the first time since April (2010), CAD is heading towards 1.0 in exchange rate with the USD. Rising commodity prices and any unexpected rise in unemployment or inflation can easily make the Canadian Dollar stronger then the American dollar.

So, when Do you think the Canadian dollar will be stronger then the American counterpart, if ever?

Norges Bank made an official statement regarding fx purchases in July. They promised to not purchase any foreign currency in the current month.

They are otherwise one of the usual suspect for large transactions in foreign currency, especially when considerable amounts of petroleum are sold from Norway. The monthly allocations are determined by The Ministry of Finance every month.

The Norwegian Krone has strengthen from 9.15 to 8 for one Euro the latest year. Many currency analysts expect the NOK to rise even further.

Asian shares are rising and the euro seems to be about to turn upward after China’s central bank, The People’s Bank of China (PBoC), announces they will accept an increasing flexibility in exchange rates. Read more about the new Chinease currency policy below.

Gradual upgrade of Yuan

China’s central bank announced there will be a gradual easening of the local currency, Yuan. This is something many investors, Americans in particular, been waiting for a long time. Risk Appetite seemed rapidly increasing, and several stock Read the rest of Chinese currency policy helping the euro? »

According to a recent report by London Foreign Exchange Joint Standing Committee, 62 % of the daily forex spot transactions are done either with electronic forex brokerages (41 %) such as Reuters, or by electronic forex trading (21 %) with brokers such as ForexYard or AvaFx. The most popular currency pairs to trade Read the rest of Which fx trading venues are used in UK? »

eSignal just launched a new service for online forex traders called ‘OnDemand Forex‘.

Why use eSignal?

• Up to 12 years of minute interval forex data and 19 years of daily, weekly and monthly data.
• Optimal for technical analysts: Intuitive charting with unlimited options for technical analysis.
• Advanced fx back testing options, supporting all major and exotic currencies.

Several forex brokers are participating, such as Barclays London, FXCM and Read the rest of eSignal launches real-time forex quotes – OnDemand Forex »

Forex broker ODL Markets today announced they have been bought up by FXCM.

Why did FXCM buy ODL Markets?

The main reasons for the acquisition seems to be the facts that ODL Markets have a very good reputation and huge client base in UK and Europe. FXCM are trying to increase market shares in this region.

How will this effect ODL Markets customers?

All clients of ODL Markets will continue to trade under the same platform as they signed up. But we belive FXCM will Read the rest of FXCM aquire ODL Markets »

After the IMF, EU and the ECB put a 750 billion package to save the Euro and supporting Greece, the interventions from ECB has become inevitable. The euro’s not able to rise and the pressure is huge right now that the currency will continue to fall.

Lets see how big the pressure will be and whether the euro can continue to remain at similar levels, or if considerable Read the rest of ECB intervene to keep Euro stable »