The yen had another day of losses as equities markets around the world rebounded, damping demand for the Japanese currency as a refuge, and making high-yielding currencies to climb. The first solid signs of economic recovery in the European Union were confirmed by its leaders which will no longer take measures to stop the worst economic recession in the region in 50 years, making the yen to lose against the euro after the first days of positive performance in a month. Commodity linked currencies … “Yen Returns to Fall as Stocks Continue Rally”
Month: June 2009
Chilean Peso Hits Nine-Month High on Foreign-Exchange Selling Plan
A Chilean government plan is likely to continue to push the national currency up, as it will sell $40 million daily in the Foreign-Exchange market, boosting confidence for the South American currency. The Chilean government affirmed in June 15 that a plan for economic stimulus will sell $4 billion dollars in $40 million allotments, as an effort to increase the influx of international assets to the South American economy. The current $4 billion program will follow a previous one which started in March offering daily $50 million in the forex … “Chilean Peso Hits Nine-Month High on Foreign-Exchange Selling Plan”
Pound Slides on Unexpected Negative Data
Retail sales dropped in May for the first time in three months, a fact that was not predicted by analysts, weighing negatively on the pound outlook for this Thursday making it to lose ground against the greenback and the euro. The United Kingdoms Office for National Statistics affirmed that retail sales fell by 0.6 percent, the first fall in three months, since signs of economic recovery started … “Pound Slides on Unexpected Negative Data”
Brazil’s Real on Two-Weeks Low After Weak Economic Data Release
The Brazilian currency dropped to the lowest level in two weeks after weak global economic data decreased confidence among investors, attracted by safety and damping demand for commodities and emergent markets currencies. Brazils real together with the South African rand were two of the best performing currencies favored by signs of economic recovery which started to appear in April, spurring demand for high-yielding positions and decreasing risk aversion which was at a extreme high level, … “Brazil’s Real on Two-Weeks Low After Weak Economic Data Release”
Dollar Falls Slightly as Interest Rate Speculations Grow
The dollar posted slight losses against currencies like the Singaporean dollar and the yen after speculations that the Fed will not increase its interest rates this year eased the optimist outlook for the North American currency this Wednesday. The greenback slid against a number of currencies after the Federal Reserve dropped its expectations to increase the interest rates … “Dollar Falls Slightly as Interest Rate Speculations Grow”
Pound Drops After Rise in Unemployment
The pound posted losses versus the main currencies after a bearish day in the stock market followed by a rise in the United Kingdom unemployment figures, damping demand for the British currency. Multiple factors brought the pound sterling down this Wednesday after Bank of England policy makers voted for the continuation of a asset-purchasing program, affirming that it must last until its efficiency is determined. … “Pound Drops After Rise in Unemployment”
Euro Rebounds Versus Dollar on German Confidence Report
After days of decline versus the dollar, the euro climbed against the greenback after the German economic sentiment rose at a level higher than expectations, creating speculations of a quick European economic recovery, spurring demand for the Eurozone currency. The German ZEW economic sentiment, a report that is highly taken into consideration by traders, since it reflects the biggest European economy financial scenario, reached … “Euro Rebounds Versus Dollar on German Confidence Report”
Yen Rises as Stock Losses Spur Demand for Safer Assets
The yen had a day of massive gains versus the main high-yielding currencies as Asian stocks fell after speculations that a report may indicate a slowdown in U.S. industrial production, creating a risk aversion sentiment among traders. After a day of weak performance in most of the global equities markets, the yen rebounded, after several weeks of losses caused by improved confidence among investors, triggered to take higher-yielding positions in the stock and currency market. Speculations … “Yen Rises as Stock Losses Spur Demand for Safer Assets”
Latvia’s Government Sells National Currency
The Latvian Government sold lati after the currency reached its trading band limit, being the first sell since the month of November, as the nation moved closer to get the next tranche of a billionaire loan to rescue the weakened Baltic economy. According to the Latvian central bank website, 111.7 milion lati were sold to … “Latvia’s Government Sells National Currency”
Dollar Climbs After Russian Minister Declaration
The dollar had the highest rise in a week against most of the main currencies after Russian Finance Minister Alexei Kudrin stated that the nation has full confidence in the U.S. currency. Russias Finance Minister Alexei Kudrin affirmed on June 13 during an interview that it would be too early to discuss the U.S. dollar position as the main global reserve currency, and that substitutes for the … “Dollar Climbs After Russian Minister Declaration”