The Brazilian currency extended yesterday’s gains versus the U.S. dollar as both retail data from Brazil and the United States improved, suggesting that the economy in both countries is recovering, which provided support for the emergent-market real to gain. The South African rand and the Brazilian real are the best performing currencies versus the greenback this year so far, as improved global economic data is helping emergent markets currencies to rally sharply, … “Brazilian Real Hits One-Year High on Retail Sales”
Month: September 2009
Pound Declines on BOE Shocking Statement
After a surprisingly negative statement made today by the Bank of England, the United Kingdom witnessed a sharp decline for the pound versus most of the 6 major traded currencies globally, as it indicates that the British Isles remain struggling to revive their economy. The pound declined versus the greenback today and reached the lowest rate in 3 months versus the euro after Bank of England Governor Mervyn King affirmed that rates to hold reserves … “Pound Declines on BOE Shocking Statement”
Yen Declines Versus Greenback as U.S. Economy Recovers
The yen fell against the U.S. dollar today as several evidences are suggesting that the American economy may be finally recovering, making traders who opted for the Japanese currency as a refuge from uncertainties to bet once again in dollar-priced assets. After U.S. President Barack Obama declarations indicating that job losses are slowing down and many economic sectors are already growing again, the U.S. dollar found the support … “Yen Declines Versus Greenback as U.S. Economy Recovers”
Mexican Peso Declines on U.S. Trade Dispute
The Mexican currency declined today after a series of international events affected the peso negatively, as the crude oil declined and China entered a trade dispute with the United States. After China started a probe with the U.S. concerning automotive and dairy products trading, the Mexican peso declined, as most of the events regarding the United States commercial status affect the Mexican currency intensively, since the U.S. is Mexico’s main trading partner. The crude oil … “Mexican Peso Declines on U.S. Trade Dispute”
IPOs Optimism Fuel Brazil’s Real
The Brazilian currency proceeded with its previous week gains as optimism in the country’s equities markets rose, as new initial public offerings are likely to attract international capital to the Brazilian economy. The Brazilian real started the week gaining more than 1 percent versus the greenback and climbing further versus most of the 16 main traded currencies as optimism regarding the wealthiest South American nation rose, considering that more than 5 … “IPOs Optimism Fuel Brazil’s Real”
Pound Declines on Real Estate Pessimism
The pound started the week losing versus most of major traded currencies around the world as speculations suggested that the crisis in the real estate sector will continue in 2010, decreasing attractiveness for the U.K.’s currency in foreign exchange markets. After Ernst & Young LLCâs Item Club statements declaring that house prices in the U.K. will continue to decline next year, the sentiment towards the British currency was affected, making the pound to decline … “Pound Declines on Real Estate Pessimism”
Protectionism Speculations Fuel Yenâs Rally
The yen, known for its safety profile, climbed further in the beginning of this week versus the euro as several other currencies as speculations suggesting that protectionist measures may be taken in trade between China and U.S., fact which if confirmed, would slower the global economic recovery. A rather unusual fact marked the start of this trading week as China entered a dispute with the U.S. regarding an alleged damping of North American automotive … “Protectionism Speculations Fuel Yenâs Rally”
Dollar Posts Sharpest Fall in 5 Months Versus Majors
The dollar had the sharpest decline since May versus most of the 16 main traded currencies as the U.S. currency is having its attractiveness decreased since borrowing costs declined, forcing investors to look for yield in other markets around the world. Several reasons extended the gains of multiple currencies versus a weakened and less attractive U.S. dollar, as mainly evidences of a global economic recovery are playing a fundamental role behind this week’s … “Dollar Posts Sharpest Fall in 5 Months Versus Majors”
Brazilian Real Declines on Economic Outlook
After touching a one-year high versus the greenback this week, the Brazilian currency declined in a corrective movement, as speculations suggested that the wealthiest economy in South America may not provide support for extensions in the current real’s rally. Even after posting a report indicating growth for the last quarter in Brazil, the real did not manage to extend its gains after touching a one-year high previously this week, as corrective movements and speculations regarding … “Brazilian Real Declines on Economic Outlook”
Mexican Peso Drops on Political Crisis
The Mexican peso climbed during this week as risk appetite rose in international trading markets increasing attractiveness for emergent markets assets, but today, after the opposition party attitude towards new taxes, the peso declined. Mexico’s President Felipe Calderon is struggling to pass a new series of laws in the country that would increase tax on foods and medicines, as a part of the fiscal reform to reestablish the country’s budget. The opposition party affirmed that … “Mexican Peso Drops on Political Crisis”