The pound is having a disappointing performance this week being traded today in the lowest level since June on concerns that new Chinese industrial regulations will reduce demand for British assets, affecting the already weakened U.K. currency. Today, to continue a sequence of negative reports in Great Britain, the business sentiment in the Kingdom had the sharpest decline for the second quarter in more than 2 decades, as the Bank of England is likely to extend its … “Pound Remains Bearish on Business Sentiment”
Month: August 2009
Yen Gains on New Tax Law
The Japanese currency extended its weekly gains today on speculations that Japanese investors are bringing overseas investments capital back to the country to profit from a new tax law, making the yen to climb further in an already pessimistic scenario. Various factors provided support for the yen to gain for the third day in a row versus most of the 16 most traded currencies as today speculations indicated that last quarter’s GDP figures in the United States … “Yen Gains on New Tax Law”
Crude Oil Puts Mexican Peso Further Down
The Crude oil has been declining this week as uncertainties towards its demand have been rising on markets globally, Mexico, one of the biggest suppliers of oil to the United States, is witnessing a severe decline on its national currency as the demand for crude oil falters. The Mexican currency has been one of the most volatile these days, influenced by constant sentiment changes in global financial markets, which affect the crude oil … “Crude Oil Puts Mexican Peso Further Down”
Dollar Gains on China Industrial Concerns
The dollar gained today versus most of the main traded currencies as concerns that industrial capacity in China will be curbed and a disappointing climb in U.S. durable good orders spurred demand for safety, which is currently favoring the greenback. This week has been positive for the U.S. dollar mainly versus the pound, which is facing domestic economic problems as the national central bank is struggling to end the current recession in the country. … “Dollar Gains on China Industrial Concerns”
Pound Declines on U.K. Economic Figures
The pound posted another day of losses versus most of the 16 main traded currencies as the economic situation in Great Britain remains behind most of the other main global economies, decreasing attractiveness for the British currency. Today’s published data and tomorrow’s forecasts are once again impacting the pound which is posting the sixth consecutive day of losses versus the euro, since U.K.’s economic outlook is currently far more negative than … “Pound Declines on U.K. Economic Figures”
German Business Sentiment Fuels Euro Rally
After a rather mediocre start in the beginning of this week the euro had a positive performance today as German business sentiment rose again suggesting that the Eurozone member countries are finding its path out of recession. The German Ifo business climate index climbed beyond economists expectations this morning as confidence is rising towards the country’s economy, fact which brought the euro to the highest level in almost 3 months versus … “German Business Sentiment Fuels Euro Rally”
Canadian Dollar Declines on Government Statement
The Canadian dollar declined from the highest level in 2 weeks today as commodities slid on renewed pessimism and a central bank official’s statement suggested that the current strong loonie may jeopardize the national economic growth. After a negative day for stock markets mainly driven by pessimism towards the North American real estate market, the crude oil, one of the main Canadian exports, weakened, pushing the loonie down from a 10-day high. … “Canadian Dollar Declines on Government Statement”
Polish Retail Sales Fuel Zloty’s Rally
The Polish currency touched today its highest level in seven months versus the euro after a retail sales national report suggested that the country may be finding its way out of recession. Retail sales published today in Poland indicated positive figures beyond analysts expectations, providing support for the Polish currency to climb versus the euro and the dollar in foreign-exchange markets as Poland is proving itself one of the most resilient countries … “Polish Retail Sales Fuel Zloty’s Rally”
Yen Gains on Stocks Corrective Movement
The Japanese currency gained today in Asia versus the South Korean won and in Europe versus the pound and the euro as stocks had a negative performance today after 5 consecutive days winning on renewed optimism towards the global economic situation. Virtually all of the 16 most traded currencies slid versus the yen today as equities markets declined today on Chinese Premier Wen Jiabao statement regarding the future of the global economy, which is still … “Yen Gains on Stocks Corrective Movement”
Pound Down on Chinese Comments
The U.K. currency posted losses today versus the euro and the greenback as stocks declined in the country and the Chinese Premier Wen Jiabao affirmed that the world economy is still facing a period of uncertainty, which brought risk aversion back in trading markets. A reversal trend in equities markets pushed the British currency down and the MSCI World Index lost consistently mainly influenced by Asian stocks, who had a negative day after Chinese … “Pound Down on Chinese Comments”