The Russian currency gained versus the U.S. dollar and several other currencies as the crude oil climbed again today, fueled by optimism regarding the world economic recovery. After Federal Reserve Chairman Ben Bernanke affirmed last Friday that the world is finding its path out of recession, the crude oil, one of the main Russian exports, traded at a 10-month high, providing support for Russian equities markets and currency to climb versus … “Crude Oil Fuels Russian Ruble Rally”
Month: August 2009
Mexican Peso Falls on Overpriced Speculations
After climbing for several weeks in a row, today the Mexican peso declined versus the greenback, on speculations that the current rates would be too high, attracting investors towards the U.S. The Mexican peso hit the highest rate last week since November, as the United States and several European Union countries published optimist economic reports, which helped the peso the gain since the United States is the main destination for its exports, but … “Mexican Peso Falls on Overpriced Speculations”
Global Optimism Continues to Affect Yen’s Performance
After losing massively towards the end of the past week due to a wave of renewed risk appetite, the Japanese currency was unable to pare its losses as optimism remains strong in trading markets worldwide, damping demand for the safety profile of the yen. The yen lost today as markets in Asia operated influenced by Federal Reserve Chairman Ben Bernanke‘s statement last Friday suggesting that the world is likely to revive its economic growing … “Global Optimism Continues to Affect Yen’s Performance”
Hungarian Forint Declines on Interest Rate Speculations
The forint is starting this week under pressure falling from the highest level in almost 10 days before the Hungarian central bank meeting today, which is likely to slash the national benchmark interest rate to a record low for the country since the end of the socialist era. The Hungarian central bank will publish its decision regarding the current interest rate levels today at noon, GMT time, and according to most economists the Central … “Hungarian Forint Declines on Interest Rate Speculations”
Will the Dollar Rebound This Week?
The U.S. currency lost towards the end of the past week as several factors improved investors’ confidence worldwide, attracting investors to emergent-market currencies, as commodities and stocks surged fueled by positive reports in Europe and Asia, shunning investors from greenback priced assets. Last week’s end was predominantly optimistic in markets around the world, mainly with Germany and France posting signs of economic growth as PMI increased in both countries and as Federal Reserve … “Will the Dollar Rebound This Week?”
Forex Trading At Summer Time
The month of August is vacation time for many people. This affects the forex market’s volume, which is lower, but it doesn’t necessarily impact the volatility. There’s one more summer week left. Afterwards the moves will be stronger. Some currency pairs trade in narrow and expected ranges, while others go wild. Let’s see some examples, … “Forex Trading At Summer Time”
Canadian Dollar Hits 2-Week High on Stocks, Crude Oil
The Canadian dollar extended its yesterday’s gains today as optimism rose worldwide regarding the so much waited economic recovery, pushing commodities that influence loonie’s rates up. Federal Reserve Chairman Ben Bernanke affirmed today that the global slump may be close to its end, creating a bullish pattern in equities and commodities markets today, attracting investors to riskier assets and damping demand for the greenback and the yen. Being the loonie … “Canadian Dollar Hits 2-Week High on Stocks, Crude Oil”
Yen Declines On U.S. Home Sales Improvement
The Japanese currency declined before the end of this week’s session on improved U.S. housing data, suggesting that the wealthiest country in the world is finally reacting economically from the worst recession in decades. Two events moved markets towards the close of this week’s trading session, as Federal Reserve Chairman Ben Bernanke stated that the world is recovering economically adding to a positive U.S. home sales report that brought risk … “Yen Declines On U.S. Home Sales Improvement”
Brazilian Real Climbs on European Confidence
The Brazilian real, the best performing currency among the emergent markets, rose today after the German and French positive PMI reports, which brought investors back to riskier assets relying on speculations that the economic recovery has already started. The Brazilian currency had a weak of losses as several news mainly in China and U.S. brought risk aversion among traders this week, benefiting mostly the Japanese yen, as its the safest bet in currency … “Brazilian Real Climbs on European Confidence”
German Manufacturing Provides Support for Euro Climb
Germany and France posted favorable reports today indicating that the wealthiest countries in the Eurozone may be finding its way out of recession, evidence which helped the euro to gain versus several currencies towards the end of this week’s session. After surprising economists worldwide several days ago when Germany and France posted an unexpected growth for the second quarter, today, the strongest economies in the Eurozone bloc posted a rise in manufacturing and services … “German Manufacturing Provides Support for Euro Climb”