The euro is having a slight decline towards the end of this week’s session as consumer prices in the region unexpectedly fell, being the sharpest fall in more than a decade, raising speculations that interest rates will remain around record lows in the Eurozone. The yen is ending the week with a positive performance versus the euro today as negative events marked this Friday financial session in Europe. In Spain, a gross domestic product report … “Euro Slides on Consumer Prices”
Month: August 2009
German Unexpected Growth Improves Zloty Rally
The Polish currency benefited from yesterday’s report indicating an unexpected growth of 0.3 for the German economy in the second quarter, which improved investors’ confidence towards the future of European economic conditions. Among emergent-market currencies, the zloty is being one of the best performing currencies, and yesterday, Germany’s quarterly GDP report pushed the Polish currency even further to higher levels, as improving economic numbers in the region led traders to speculate that the Polish central … “German Unexpected Growth Improves Zloty Rally”
U.S. Retail Sales Push Greenback Down
The dollar lost today versus most of the 16 main traded currencies as U.S retail sales dropped last month, surprising economists which expected a continuous growth following June’s figures. Multiple factors brought the greenback down today as main European countries like France and Germany posted a slower contraction in their economies for this year’s second quarter, raising confidence that the economic conditions have stopped deteriorating in the region. Retail … “U.S. Retail Sales Push Greenback Down”
Canadian Dollar Strengthens as Stocks Remain Bullish
The Canadian dollar was traded today at the highest level in this week as stocks and commodities continued to have a positive performance today, helping the loonie to remain strong versus the greenback. After a negative beginning of the week for the Canadian dollar with rising risk aversion and a faltering crude oil, the loonie rebounded as optimism reappeared today mainly in the European session, as countries like Germany and France unexpectedly grew in the second quarter, pushing stocks and commodities up … “Canadian Dollar Strengthens as Stocks Remain Bullish”
Pound Climbs on Renewed European Optimism
The pound climbed today versus the yen and the dollar, as optimistic reports in Europe brought worldwide traders to bet in a hastening economic recovery in the region, damping demand for safer assets and increasing risk appetite. The pound benefited today from a report in Germany indicating an unexpected growth of 0.3 from the first quarter, being the same figures also perceived in France, while forecasts indicated a contraction of 0.3 percent for both countries. The pound also benefited today … “Pound Climbs on Renewed European Optimism”
Euro Continues Rally on Eurozone Members Growth
The euro gained versus the dollar and other several currencies today as countries like Germany and France indicated a unexpected growth for the previous quarter, surprising traders and analysts, raising the positive sentiment towards the Eurozone currency. A perfect scenario for a bullish pattern in the euro-dollar chart was set today as the German and French economies grew in the second quarter, as the Federal Reserve affirmed yesterday that interest rates in the United States shall remain low for an extended period … “Euro Continues Rally on Eurozone Members Growth”
Early Recovery in Europe?
Europe has suffered deeply from the recession, and didn’t seem to be getting out of it soon. Today’s surprising GDP figures showed that the old continent’s largest economies have shown growth in the second quarter. EUR/USD made an initial small rise, but these surprising figures are very important for the markets. Prelim GDP was leaked … “Early Recovery in Europe?”
Crude Oil Reverts Canadian Dollar Falling Trend
After losing for five consecutive days, the Canadian currency rebounded versus its U.S. counterpart as stocks in Toronto climbed and the crude oil rebounded followed by most of the main traded commodities. The Canadian dollar, which reached a 10-month high versus the greenback during the past week, returned to more reasonable rates as pessimism came back to equities markets following the end of the past week. Today, the Canadian trade deficit diminished more than forecasts, … “Crude Oil Reverts Canadian Dollar Falling Trend”
Dollar Slides Before Fed Meeting
The dollar, which rebounded since last Friday as economic reports did not reflect a favorable situation in Asia and Europe, declined slightly versus the euro today, before tomorrow’s Fed Meeting. The Federal Reserve is due to meet to tomorrow and will probably declare that benchmark interest rates in the United States will remain low, affecting the greenback outlook today versus multiple main traded currencies, as low interest rates are … “Dollar Slides Before Fed Meeting”
Inflation Figures Affect Pound Performance
The pound started another day losing versus the dollar and the euro in the European session as the Bank of England affirmed that the 2 percent inflation target won’t be met, raising concerns regarding the British economy’s health. The yen was one of the biggest winners today versus the pound, after Bank of England Governor Mervyn King stated that it will take time for the Great Britain banking sector to recover from the current delicate … “Inflation Figures Affect Pound Performance”