The Japanese yen declined against the U.S. dollar and the euro as the North Korea tested its nuclear bomb, increasing the political tension in the region and the global risk-aversion, while making yen a less attractive asset. The regions security was questioned by the traders and investors as they sold the Japanese yen and the Australian dollar. The Democratic Peoples Republic of Korea … “Yen Falls Against Dollar on North Korean Nuclear Blast”
Month: May 2009
Contraction or Retraction? US Dollar Outlook
The US dollar collapsed last week against lots of currencies. This week, American figures stand out in the economic calendar, with Prelim GDP being the last and most important figure. Will American contraction squeeze? How will Consumer Confidence, Home Sales (Existing and New), Durable Goods Orders. and the GDP move dollar this week? Outlook for the beaten … “Contraction or Retraction? US Dollar Outlook”
Pound at New Ground – What’s Next?
GBP/USD broke a few resistance lines on the way up. It seems like the sky is the limit, but will it take a break? Nationwide HPI and CB Realized Sales are some of the key events for the Pound. Let’s see how this week unfold, and what technical levels await cable. GBP/USD had a rollercoaster week, … “Pound at New Ground – What’s Next?”
Canadian Dollar Wins Important Week
The Canadian dollar made huge gains against the US dollar this week. USD/CAD has a new direction – south. This happened on ok data in Canada, and the greenback’s weakness across the board. Here’s a roundup, and a look forward. As I wrote at the beginning of the week, it indeed was an important week … “Canadian Dollar Wins Important Week”
Pound Rollercoaster Roundup
This was one hell of a week for the British Pound. Different forces moved it up and down. Here’s a summary of this week’s events. What can we learn for next week? The British Pound got some expected and unexpected news this week. I’ve covered the event in my post Will Retail Sales and GDP Send … “Pound Rollercoaster Roundup”
Dollar Down to January Levels on Credit Rating Concerns
The dollar fell to the lowest level against the euro since early January as the S&P credit rating agency revised U.K. rating outlook and traders are afraid that the U.S. will be next. The euro rose against both the U.S. dollar and the British pound today as the possible credit rating downgrade is one of the worst events for the debt-relying economies and currencies of both the United States and the United Kingdom. The Japanese yen also rose against the dollar and the pound, additionally … “Dollar Down to January Levels on Credit Rating Concerns”
NZD Gains for 4th Day Against U.S. Dollar
The New Zealand dollar rose for the fourth straight day against its U.S. counterpart and advanced for the second day versus the Australian dollar today, assisted by the signs of the global recessions easing. The Australian dollar also continued to rise against the greenback and the yen as the commodity prices rose considerably this week. The Asian region demonstrates a less … “NZD Gains for 4th Day Against U.S. Dollar”
Ruble Strengthens to New 2-Month High
The Russian ruble rose to its new maximum since January 14 against the U.S. dollar today as the current oil prices still suggest that the December-January devaluation was too strong. The ruble also gained against the euro and reached a new high since January 26 against it. The Russian ruble is pegged to the basket of currencies that consists of 55 percent U.S. dollars and 45 percent euros. The oil now trades above $60, which, if not compared to the overpriced … “Ruble Strengthens to New 2-Month High”
Canadian Dollar Gains on Stocks and Oil Growth
The Canadian dollar advanced against both U.S. dollar and the euro for a second day today as the stock markets surged globally, while the oil price advanced close to $60 per barrel. The loonie, as the Canadian currency is often called, is a commodity currency that is doomed to appreciate at the time of the global economic recovery. The CAD went up against all major currencies except the British pound today, after demonstrating even faster gains yesterday, while June forward … “Canadian Dollar Gains on Stocks and Oil Growth”
Will Retail Sales and GDP Send the Pound Higher?
The Pound is trading in the highest levels for many months, near a major resistance line. There are 4 major indicators this week: CPI, MPC Meeting Minutes, Retail Sales and Revised GDP. Will they send the Pound to new highs? GBP/USD trades above 1.50 during the most of May. It destroyed the magical number of … “Will Retail Sales and GDP Send the Pound Higher?”