A combination of factors involving commodities price rebound, stocks rally and a less attractive U.S. dollar in global markets made the loonie to post the highest gains since the Korean War years. Canada is one of the main suppliers of oil and a several number of commodities to the United States, and the recovery signs of the global economy, coming mainly from Asia and to a lesser extent from … “Canadian Dollar Had Highest Monthly Gain in 60 Years”
Month: May 2009
British Pound Continues North
Friday’s Nationwide HPI supplied more fuel for the Pound, which is now aiming for 1.62. All in all, it was a succesful week for the British Pound, which sees major resistance at 1.67. A roundup of this last week of May. British Indicators Earlier this week, indicators were negative, but the Pound didn’t always react … “British Pound Continues North”
Dollar Retreats On All Fronts – Week’s Roundup
The US dollar is beaten this Friday. It loses ground everywhere. This happened before the disappointing GDP figure, and also after them. Bad Friday for the greenback, yet again. A long term fall in the dollar is imminent. Economic Figures At the beginning of the week, I wrote about 6 key events, in my post: … “Dollar Retreats On All Fronts – Week’s Roundup”
British Pound Climbs as House Prices Rebound
The pound sterling rallied against the dollar and the yen after a report on house prices revealed an unexpected rise in May, boosting confidence among investors that the real estate crisis may be easing. The excellent news for the United Kingdom currency revived hopes for this European nation, one of the most hit by the global crisis and the credit crunch. A report … “British Pound Climbs as House Prices Rebound”
Stocks Rally Push Dollar Down as World Economy Improves
The month of May posted the biggest losses for the U.S. currency in a one-year period against the euro, as equities markets continue to rise on optimism about improvements in the global economic situation. The greenback lost ground against currencies around the world, and after South Korea affirmed that its state pension fund will sell Treasury bonds and diversify their investments to other … “Stocks Rally Push Dollar Down as World Economy Improves”
Yen Declines Further as Investors Purchase Assets Overseas
The yen hit a 8-week low against the dollar and also lost ground against the euro, as Japanese investors, driven by a new wave of confidence on world markets, return to overseas investments. The Ministry of Finance in Japan affirmed that national investors had the highest rise in foreign bonds purchases during the current month, this declaration reflected immediately in the Japanese currency market, making the yen to lose against all of the 16 most-traded currencies. The yen also lost … “Yen Declines Further as Investors Purchase Assets Overseas”
Pound at Higher Ground – The Road North is Open
The British Pound made a push forward in it’s journey upwards, getting close to 1.61. As aforementioned, serious resistance appears only at 1.67 , so the road north is open. Review and Outlook… Last week, the British Pound broke strong resistance levels and closed above 1.59. This week’s scary news from North Korea ignited risk … “Pound at Higher Ground – The Road North is Open”
Brazilian Real Continues Rise on Current Account Surplus
The Brazilian currency had the sharpest rise in seven days after the countrys first current account surplus in 19 months was posted this week, pushing the national equities market up. After 19 months in deficit, the Brazilian current account, which is the broadest measure of a countrys trading activity, had a surplus of $146 million, pushed mainly by a recovery in commodity prices together with a decrease in multinational companies profit remittances. The … “Brazilian Real Continues Rise on Current Account Surplus”
Yen Slides on U.S. Economy Recovery
After a rebound in the North American consumer confidence, Asian stocks rallied, decreasing demand for safer investments such as the Japanese yen. The yen lost ground against currencies like the South Korean won and the Taiwanese dollar on speculations that today, a report will indicate a rise in the current home sales in the United States, which would be another evidence that the global … “Yen Slides on U.S. Economy Recovery”
Yuan Falls as China Doesn’t Want Appreciation
The Chinese yuan declined at a fastest pace during the last two months as the countrys central bank lowered the reference exchange rate to stimulate the exporting industry. The Chinas yuan lost about 0.1 percent during one day today after the Peoples Bank of China fixed the reference exchange rate of the yuan to the U.S. dollar at 6.8285 — down by 0.07 percent compared to the previous rate. China uses … “Yuan Falls as China Doesn’t Want Appreciation”