The Swedish currency hit a six-week low level after speculations rose that Latvia will devalue its currency, as an attempt to save the country from a deep recession, consequently affecting negatively loans held by Swedish banks in the Baltic Nation. According to a note posted this week by Riksbank, an economic deterioration in the Baltic countries is an imminent risk to Swedish banking institutions, since Latvias financial system is highly linked and … “Swedish Krona at Six-Week Low as Concerns Rise in Latvia”
Month: June 2009
British Pound Climbs Against Euro as Confidence Emerges
The Great Britain Pound hit a six-month high against the Eurozone currency as domestic consumer confidence rose to a two-year high, indicating that recession might soon be over. The British currency reached the $1.66 mark and the highest level against the euro since last December, after an index of U.K. service industries posted the first expansion in a period of more than twelve months. The Australian … “British Pound Climbs Against Euro as Confidence Emerges”
Dollar Around 09′ Record Low as Risk Appetite Grows
The dollar continued its bearish trend against a basket of currencies after a report on U.S. pending home sales posted the third consecutive monthly rise, improving optimism on markets and extending the current risk appetite wave. Commodity-linked currencies like the Australian dollar and the Brazilian real continued their rally against the greenback as confidence emerges about the world economic rebound, spurring … “Dollar Around 09′ Record Low as Risk Appetite Grows”
Loonie Stays Behind – Mid Week Overview
The US dollar is suffering from losses across the board. Out of the three currencies that I’ve covered, only the Canadian dollar stayed behind. The Pound and the Aussie continued enjoyed the dollar’s fall. Here’s an overview of the week so far, and an outlook towards the data-rich Thursday and Friday. British Pound Original coverage: … “Loonie Stays Behind – Mid Week Overview”
Pound Slides as Traders Consider Current Rally Excessive
The pound sterling dropped versus the euro and the dollar, after hitting a seven-month high against the dollar in a sharp rally to be considered excessive, as traders agree it does not reflect the United Kingdoms economic outlook. The British pound also lost ground against the yen and the countrys main stock exchange index, the FTSE 100, dropped 1 percent after two days of significant gains. … “Pound Slides as Traders Consider Current Rally Excessive”
Dollar Stable Against Euro After Hitting Year Low
After hitting this years low against multiple currencies, the dollar remained stable against the euro, showing a slight correction, yet, the sentiment remains bearish as risk appetite grows. The greenback hit its lowest rate versus a basket of currencies this Monday, after a long rally fueled by economic signs of recovery in Asia and Europe, damping demand for the dollars safety investment profile. Today, the … “Dollar Stable Against Euro After Hitting Year Low”
Russian Ruble Climbs on Oil Uptrend, Stocks Rally
The Russian ruble posted gains against the U.S. dollar for the third day in a row, as the demand for oil increases, causing the Russian stock market to have the highest rally since the beginning of the global slump. Since the oil has rebounded reaching $67.50 a barrel this week, a sharp rally has followed in the Russian equities market, consequently pushing the ruble up, which had suffered severe losses as the global slump started last year. Russias economy is highly orientated … “Russian Ruble Climbs on Oil Uptrend, Stocks Rally”
Dollar Slides as GM May Announce Bankruptcy
The dollar fell against currencies in Asia in the beginning of this weeks session, as General Motors may file for bankruptcy this Monday. General Motors Corp. a company which was once the biggest in the world in its sector, is ready to file for bankruptcy, and the fact that the U.S. government will inject money and become its main owner brought the Dollar Index to the … “Dollar Slides as GM May Announce Bankruptcy”