The yen is being traded at the highest level in August as Asian stocks declined again, pushing the Japanese currency up for a third day in a row, since bearish markets rise attractiveness for the safe profile of the yen. The best performing currency this week among the 16 most traded is the yen, which is benefiting from a new wave of risk aversion that made traders to purchase safer assets. Today, China’s Commerce Minister … “Yen Continues Rally on Chinese Minister Statement”
Month: August 2009
Polish Zloty Down as Rally May Halt Economic Growth
The Polish currency, which was climbing systematically during the previous two months as signs of economic recovery attracted traders to this emergent European Union economy, had a sharp decline this week as the current currency rates may affect the economic recovery in the nation. Poland’s economy was the best performer among the 10 eastern European union members in the first quart of this year, after the national government cut taxes to stimulate the economy … “Polish Zloty Down as Rally May Halt Economic Growth”
Brazilian Real Declines Further on China’s Industrial Output
The Brazilian real is having its worst week since the beginning of July as pessimistic news rose risk aversion among traders, damping demand for the Brazilian currency high-yielding profile. Today several reports in China brought equities and commodities markets down as exports and loan conditions deteriorated in the Asian country, raising concerns that one of the key-world economies may face an extended period of recession, affecting emergent market currencies like the South … “Brazilian Real Declines Further on China’s Industrial Output”
Chinese Industrial Outlook Decline Pushes Yen Up
Several negative numbers in China today brought worldwide investors to purchase yen-priced assets as pessimism and confusion regarding the global economic situation have returned to financial markets, favoring the safe profile of the Japanese currency. The yen gained versus most of the 16 main traded currencies today after reports in China posted a worse-than-expected rise for the national industrial output also indicating negative exports and new loans numbers, raising risk aversion among … “Chinese Industrial Outlook Decline Pushes Yen Up”
Australian Dollar Down on Chinese Negative Data
The Australian Dollar lost today against several currencies like the yen and the U.S. dollar after a negative report in China pushed investors back to safer assets, damping demand for the Aussie’s riskier profile. The Australian currency lost the most in a week today after Chinese banking data came worse-than-expected by economists, showing a slide in new lending figures and a disappointing rise for fixed-assets investments, indicating that one of the main global economies may … “Australian Dollar Down on Chinese Negative Data”
FOMC Statement – An Opportunity to Short the Yen Crosses
Ben Bernanke and his colleagues at the FOMC are making their first rate decision after the unexpected drop in the American unemployment rate. Here are two dollar-bullish moves they could do. Since the dollar yen correlation is strong, shorting the yen crosses looks quite interesting. Here’s a preview for the FOMC Statement: Past Dollar Yen … “FOMC Statement – An Opportunity to Short the Yen Crosses”
Mexican Peso at 4-Month High on U.S. Recovering Data
The Mexican peso started the week at the highest level in 4 months as the United States are signaling that the path out of recession has been already started. The Mexican currency climbed to a 4-month high as the United States, Mexico’s main traded partner consuming more than 80% of its exports, is likely to revive its economy as reports last week brought investors’ confidence back to purchase dollar-priced assets, consequently favoring the U.S. … “Mexican Peso at 4-Month High on U.S. Recovering Data”
Euro Slides on Economic Conditions Comparison
The euro fell today versus the U.S. dollar and several other main traded currencies as speculations indicated that a number of economic zones are likely to grow faster and sharper than the Eurozone. The euro had its most intense loss versus the greenback today as most of economic analysts believe that the United States is offering more solid conditions for an economic revival than the Eurozone or Japan, being today’s decline the sharpest in 3 … “Euro Slides on Economic Conditions Comparison”
U.K.’s Recession Concerns Push Pound Further Down
The pound started this week continuing Friday’s bearish trend after the Great Britain government affirmed that the current asset purchasing program will be expanded, raising concerns that the British financial system is still in a delicate situation. Today during the start of the European trading session, U.K. gilts rose and the pound lost versus most of the 16 main traded currencies as the outlook for the British economy stills more negative than … “U.K.’s Recession Concerns Push Pound Further Down”
Yen Climbs After Japanese Government Report
The Japanese currency started this week with a more attractive outlook as the Japanese government indicated through several reports, that the Asian nation may be finding its way out of recession, spurring demand for yen, which has been attractive lately only due pessimist global economic indicators. During the darkest moments of the global slump, the Japanese currency tended to be attractive mostly when investors were looking for a refuge … “Yen Climbs After Japanese Government Report”