The dollar had a week of extremely negative performance hitting several record lows versus most of the main 16 currencies as demand for yield and investors’ confidence rose worldwide, this time, fueled by two reports in China that added to the already growing optimism in trading markets. Today in Europe, the dollar extended its losses versus the euro as countries like Germany and France are raising attractiveness for assets in the region, as this countries are … “Dollar Suffers Another Hit as China Posts Industrial Growth”
Month: September 2009
Australian Dollar Rebounds on Chinese Data
The Australian dollar was affected yesterday by a series of negative domestic reports that halted a rally which set the currency to a one year high versus the greenback, but today, after favorable reports coming from Asia, the Aussie managed to reestablish its previous winning trend. The Australian currency climbed today versus several lower-yielding trading options, as stocks surged in Asia benefiting from two reports in China which indicated … “Australian Dollar Rebounds on Chinese Data”
Pound Climbs on Bank of England Strategic Changes
The pound reached the highest level in almost a month versus the U.S. dollar and gained versus the euro after Bank of England statements regarding its strategy to stimulate the faltering British economy revived investors’ confidence in the United Kingdom’s currency. After the Bank of England officials’ declarations indicating that the asset-purchasing program will not be extended further, as it has been previously, the confidence towards the U.K.’s currency improved, as interest rates in the country … “Pound Climbs on Bank of England Strategic Changes”
Pound Still Behind – Bounces Off Resistance
The British Pound doesn’t “use” the dollar weakness to reach new ground. 1.6660 is one of the strongest resistance lines seen in a long time. The rate statement didn’t include the spice to send the Pound higher. GBP/USD now trades at 1.6598 after making a trip to 1.6659 and back. Also NZD/USD made a similar round … “Pound Still Behind – Bounces Off Resistance”
Australian Dollar Slides on Job Figures
As unemployment surged in the South Pacific nation of Australia, speculations that interest rates will be hiked before the end of the year decreased, making the Aussie to post its first decline this week versus most of the main traded currencies. Today a report in Australia indicated job losses that came at almost a double rate than what forecasts expected, influencing the South Pacific currency further down after negative reports yesterday … “Australian Dollar Slides on Job Figures”
Polish Zloty Declines After Bond Sale Fiasco
The Polish currency declined today versus the euro after a Polish central bank 5 bond sale that ended with just slightly more than half of the bond offered sold, suggesting that attractiveness and confidence towards zloty-priced assets remains rather mediocre. After the government announced that the budget deficit in the country will double next year, the first bond auction in the country did not reflected in a significant number of sales, … “Polish Zloty Declines After Bond Sale Fiasco”
Canadian Dollar Remains High Before Bank Declarations
The Canadian currency, which has been benefiting together with several other currencies linked to commodities and equities performances, continued at a high level before a central bank meeting today that may indicate concerns with the current loonie’s rally. After being traded near a one month high yesterday, the Canadian currency remained bullish as house starts surged in the country, suggesting that the North American nation may soon find … “Canadian Dollar Remains High Before Bank Declarations”
Retail Sales Report Affects Australian Dollar Performance
The Australian currency, which touched the highest level in one years versus its U.S. counterpart yesterday, fell as domestic reports indicated today that the country’s economic health is not as good as perceived by investors, mainly in the sales and real estate sectors. After the Australian government published a report indicating that home loan approvals declined for the first time since the end of last year, the Aussie declined versus virtually all … “Retail Sales Report Affects Australian Dollar Performance”
Dollar Rebounds as Stocks Fall
After a sharp decline yesterday due to increased risk appetite in stocks markets globally, the dollar rebounded today as speculations led traders to understand that the current gains in equities may not reflect the real potential of world economic and corporate growth. The U.S. dollar rebounded slightly after being traded at the lowest level versus the European common currency yesterday this year, as a report showed that consumer prices in the bloc’s wealthiest country, … “Dollar Rebounds as Stocks Fall”
Mexican Peso Extends Gains on Optimism
The Mexican peso had the fifth consecutive gains versus the U.S. dollar as optimism is helping stocks to climb globally, damping demand for the greenback and attracting investors to emergent markets like Mexico. Mexico is along with Brazil, South Africa and others, one of the nations that witnessed a climb in their currencies’ value this week as renewed risk appetite initiated an exodus of capital from currencies like the U.S. dollar and the Japanese yen, … “Mexican Peso Extends Gains on Optimism”