European recovery is lead by Germany and France. Today’s PMI figures showed. The other countries are lagging behind, and the forex market reacts cautiously. Will the whole continent prosper? Will EUR/USD break out of the range? European Purchasing Managers’ Indexes were better than expected. Data from France was the earliest. French Flash Services PMI scored 48.9, … “Catious European Recovery Helps EUR/USD”
Month: August 2009
Brazilian Real Declines on U.S. Jobs Data
The Brazilian real declined today slightly, after three consecutive days performing positively, as U.S. jobless claims posted an unexpected rise, damping demand for emergent-market currencies. After climbing on national unemployment data, which dropped to 8 percent in July from 8.1 in June, the Brazilian currency was affected by overseas job figures, as a U.S. report indicated that more unemployed people filed for benefits in July, proving economists expectations … “Brazilian Real Declines on U.S. Jobs Data”
Goldman Sachs Influences Canadian Dollar Rally
The Canadian dollar traded at the highest level this week after one of the most relevant investment banking corporations in the world suggested that the loonie is likely to gain versus its U.S. counterpart in the short term. Goldman Sachs Group Inc. stated through a note today that the Canadian dollar profile extremely related to crude oil rates is likely to be more attractive then its U.S. counterpart, according to the investment … “Goldman Sachs Influences Canadian Dollar Rally”
Pound Slashes Gains on Record Deficit
The pound, which benefited yesterday from a new wave of risk appetite in European markets declined erasing most of its previous gains as today, a report indicated the largest budget deficit for the month of July since 1993, raising concerns regarding U.K.’s financial health. Multiple reports have been posted recently indicating that Britain’s financial health is one of the most delicate among the world’s main economies, today, a report published … “Pound Slashes Gains on Record Deficit”
Asian Stocks Force Yen Down
The yen lost in the beginning of today’s session in Asia, as stocks climbed in China and South Korea, bringing a certain level of confidence that helped investors to search for higher-yielding options, selling yen-priced assets. Multiple reasons made the yen to lose versus most of the 16 main traded currencies, as stocks climbed worldwide, providing support for the MSCI World Index to gain for the second day in a row, raising confidence among investors globally. The Norwegian krone was … “Asian Stocks Force Yen Down”
Canada’s Dollar Losing Streak Ends on Oil Rebound
The Canadian currency, which lost more than 3 percent versus its U.S. counterpart during the last week, rebounded today as oil rates climbed in New York trading markets. U.S. stocks climbed today after a rather negative session yesterday, providing support for Canada’s main export, the crude oil, to climb, influencing the loonie’s performance and ending more than a week of losses versus the greenback. The Canadian dollar is one … “Canada’s Dollar Losing Streak Ends on Oil Rebound”
Dollar Down as Stocks Rebound
The dollar reverted its winning trend from yesterday as equities markets climbed worldwide, damping demand for the relative safety of the U.S. currency. The dollar lost versus the euro today as risk aversion declined, pushing stock markets up worldwide, and bringing investors back to high-yielding investments, influencing the crude oil and metallic commodities rates today in New York. Currencies like the Australian and the New Zealand dollar also pared losses against the greenback … “Dollar Down as Stocks Rebound”
Quantitave Easing Speculations Affect Pound Performance
The pound erased yesterday’s gains this morning after the Bank of England may insist in further quantitative easing measures as an attempt to revive the weakened British economy, which was one of the most affected by last year’s credit crunch. The pound is losing today versus most of the 16 major currencies after Bank of England Governor Mervyn King suggested that further measures should be taken in order to rescue the British … “Quantitave Easing Speculations Affect Pound Performance”
Asian Bearish Market Spurs Yen Demand
The yen continued to grow today as equities markets in Asia had a faltering performance, since concerns about the economic recovery in the region remain very vivid, fueling demand for the safety profile of the Japanese currency. Stock markets in Asia declined today, led by pessimism in Shanghai and Beijing concerning the economic health of the region and demand for Chinese products abroad, helping the yen to gain versus all 16 major traded currencies, since the Japanese currency … “Asian Bearish Market Spurs Yen Demand”
Equities Markets Rally Influences Mexican Peso
The Mexican peso had a positive day after severe declines as stocks in the U.S. climbed, attracting investors to purchase once again emergent market currencies, favoring peso-priced assets and several other Latin American currencies. After rather negative news in the beginning of the week which impacted stock markets worldwide, today, a slight reaction could be perceived, which helped the peso to gain today after its biggest drop in three-months influenced … “Equities Markets Rally Influences Mexican Peso”