The Hungarian currency posted significant gains today versus the euro and the dollar after a report in Germany indicated the highest rise in investors’ confidence in the wealthiest country in the European Union during the last three years. Hungary is immersed in the worst recession since the post-communist era, and today’s German ZEW economic report posting the sharpest rise in business confidence in the country in three years helped optimism to grow in Eastern Europe, as most of Hungarian, Czech and Polish … “Hungarian Forint Climbs on German Confidence”
Month: August 2009
Pound Climbs on Unexpected Inflation
The pound had a positive performance today after U.K.’s inflation did not decline as specialists suggested, bringing optimism that the British recession might be easing since difficult periods tend prices to decrease inflation and eventually reach deflation. The pound had the sharpest rise versus the U.S. dollar in more than a week today after the Office for National Statistics indicated that the inflation held at 1.8 percent in July, a sign that … “Pound Climbs on Unexpected Inflation”
Euro Reverts Losing Trend on Confidence
The euro stopped its decline versus the yen and the dollar today as optimism reappeared in Europe after a report indicated that German business confidence had the highest rise in more than a year, spurring demand for the Eurozone currency in forex markets. After several days of consecutive declines the Eurozone currency reverted its trend and climbed after the German ZEW economic sentiment, a highly considered index by traders, climbed the most in more than a year, … “Euro Reverts Losing Trend on Confidence”
Asian Economic Outlook Forces Brazilian Currency Down
The Brazilian real, one of the most benefited currencies by the evidences of economic recovery this year, traded at this month’s low today as Asian reports indicate that the global slump is still very present. Brazil’s currency continued the last week’s decline today as the quarterly GDP figures in Japan came worse than expectations and direct investment in China declined in the month of July, reviving concerns regarding the global slump depth and duration, … “Asian Economic Outlook Forces Brazilian Currency Down”
Chilean Peso Declines on Metallic Commodities Demand
The Chilean peso started the week losing versus most of the 16 main traded currencies as metallic commodities, an important source of revenue for the country, declined today. Copper exports account for more than a third of Chile’s gross domestic product, and a faltering demand during the past few days has affected the outlook for the peso, since stockpiles are expanding, and the current high rates for metallic commodities may not be compatible to the currency global economic … “Chilean Peso Declines on Metallic Commodities Demand”
Pound Falls as Real Estate Crisis Deepens
After rallying to a 10-month high versus the dollar two weeks ago, the pound is declining severely versus most of the main traded currencies, as the real estate scenario deteriorates in the United Kingdom, shunning investors from pound-priced assets. The most reliable internet real estate portal in the U.K., Rightmove Plc, indicated that house prices in Britain declined 2.2 percent this month, after climbing 0.6 percent in July, a fact which … “Pound Falls as Real Estate Crisis Deepens”
Negative News Fuel Yen’s Rally
The Japanese currency started another week gaining versus most of the main currencies as several domestic and international events spurred demand for refuge currencies, affecting negatively mainly currencies in Europe this Monday. Today’s Japanese quarterly GDP figures were posted reaching a 3.7 growth in the second quarter, which was below expectations, raising concerns that an economic recovery in Asia may take longer to appear, oddly enough favoring the yen … “Negative News Fuel Yen’s Rally”
U.S. Consumer Confidence Affects Euro Perfomance
The euro was affected towards the end of this week’s session as U.S. consumer sentiment declined, raising risk aversion among traders which opted mostly for the yen and the dollar to protect their assets. The euro closed this week nearly neutral from its opening price 5 days ago versus the greenback as multiple factors caused a high volatility for the Eurozone currency. This Friday, unexpected reports moved markets and two of the main … “U.S. Consumer Confidence Affects Euro Perfomance”
Brazil’s Real Worst Performer This Week
The Brazilian currency had its most negative performance in more than a month, making it the biggest loser this week among the 16 most traded currencies, as stocks declined worldwide. Grim numbers reflecting U.S. consumer confidence pushed stocks down this Friday after already negative reports in Europe influenced the markets earlier, making investors to purchase safer assets towards the end of this week’s session, punishing Latin … “Brazil’s Real Worst Performer This Week”
Chilean Peso Declines on U.S. Consumer Confidence
The Chilean peso posted the biggest decline in August this week as consumer sentiment declined in the United States during the past month, pushing traders away from emergent market currencies. Commodities and stocks went down today after a report was published in the U.S. indicating a considerable fall for consumer confidence for the month of July, attracting investors to safer investments and consequently damping demand for emergent-market high-yielding currencies, like the Chilean peso. USD/CLP climbed … “Chilean Peso Declines on U.S. Consumer Confidence”