The Canadian dollar, one of the most dependent currency to stocks and commodities, climbed significantly today as optimism pushed the crude oil and gold rates up, suggesting that the global economy will improve demand for Canadian exports. The loonie, as the Canadian dollar is often referred, witnessed a significant rally today being the sharpest climb in September provoked by optimism that increased risk appetite among traders as commodities rose and the International Monetary Fund cut … “Canadian Dollar Roses Sharply on Commodities”
Month: September 2009
Commodities Push Brazil’s Real to One-Year High
Optimism returned to markets today affecting negatively currencies like the yen and the dollar at the same time that emergent market currencies, like the Brazilian real, witnessed a rally today, as commodities climbed worldwide. The Brazilian currency managed to touch the highest rate in a year as a renewed demand for commodities increased the price of Brazil’s main exports, consequently providing support for the real to grow together with other emergent market currencies versus lower-yielding majors in foreign-exchange … “Commodities Push Brazil’s Real to One-Year High”
Support Line – Courtesy of the Bank
The SNB did it again. They intervened in the forex market to weaken the Swiss Franc. Against the dollar, these moves sure are short lived, but regarding the Euro, the central bank sure marked a support line for EUR/CHF. The Swiss National Bank intervened again in the currency markets to weaken the national currency. Like … “Support Line – Courtesy of the Bank”
Aussie Further High on Retail Sales
The Australian dollar extended its record high after a report indicated that retail sales grew for the first time in three months, providing support for speculations that the South Pacific nation will raise interest rates before the end of the year. The Aussie is the best performing currency among the 6 majors in 2009 due to the country’s resilience from the global slump which affected other regions, specially North America and Europe more … “Aussie Further High on Retail Sales”
Dollar Down on Interest Rate Speculations
The U.S. currency slashed previous gains in the beginning of the Asian trading session today as speculations suggested that interest rates will be maintained at record lows for an extended period of time in the United Stated, indicating that the economy will need further stimulus to surpass the recession. Federal Reserve officials are likely to state today that interest rates in the United States will remain low for an undetermined amount of time, according to speculations, causing … “Dollar Down on Interest Rate Speculations”
Pound Decline Stops on Retail Sales
After declining to record low in months versus the euro and the dollar, the pound rebounded today as reports unexpectedly improved the sentiment towards the economic recovery in the United Kingdom, stopping the losing streak for the British currency. ?he Office for National Statistics posted a report today indicating a lower than expected decline in U.K.’s gross domestic product, which combined with a positive retail sales report provided support for the British currency to pare some of its … “Pound Decline Stops on Retail Sales”
Global Pessimism Pulls Down Brazilian Real
The Brazilian currency has been very influenced by international sentiment regarding global economic conditions this year, due to Brazil’s commodity exporter profile, and today, as pessimism rose, the real declined slightly versus most of the 6 main traded currencies. The Brazilian real has managed to be the best performing currency among emergent markets climbing almost 30 percent this year versus the U.S. dollar and also posting massive gains … “Global Pessimism Pulls Down Brazilian Real”
Interest Rates Speculations Force Aussie Up
The Australian dollar has been ranking among the top 5 best performing currencies since the global economy started to give signs of recovering, and speculations regarding interest rate hikes provided support for the Aussie to gain versus all six main traded currencies this Tuesday. Speculations regarding an eventual interest rate hike in Australia provided support for the Aussie to climb for a third day in a row, setting the South Pacific currency to the highest rate … “Interest Rates Speculations Force Aussie Up”
Recession Concerns Provide Support for Dollar
The U.S. currency rebounded this week from a twelve-month low versus the euro and several other currencies as concerns regarding the global economic situations reappeared today, increasing risk aversion and consequently helping the greenback to gain in foreign-exchange markets. Toyoo Gyohten, a former currency official with influence in the Japanese government affirmed today that the U.S. dollar should remain as the global reserve currency, helping the dollar to gain in a pessimistic scenario that increased … “Recession Concerns Provide Support for Dollar”
Canadian Dollar Rebounds on Equities
After a shift in the outlook for the Canadian currency which had been losing significantly since it touched a one-year high last week versus the greenback, optimism in equities markets gave a breather for the Canadian currency to climb. A combination of two positive factors influenced the Canadian currency performance as stocks rebounded globally, increasing risk appetite and helping the loonie to gain after several days of consecutive losses, attracting traders willing to bet in a rebound for the Canadian … “Canadian Dollar Rebounds on Equities”