The Canadian currency, which started the week rallying majorly versus its U.S. counterpart, was one of the worst performers today as commodities and stocks faltered, influencing negatively the outlook for the loonie and other currencies from commodity exporter nations. The Canadian dollar didn’t manage to extend yesterday’s gains since risk aversion rose once again in foreign-exchange markets as U.S. gross domestic product figures had a less significant increase than figures … “Canadian Currency Tumbles on Risk Aversion”
Month: November 2009
Rand Advances as Recession Officially Ends
The South African rand, one of the best performing emergent market currencies in 2009 fueled by a commodities prices rally, extended its gains further today as a report published showed that the country’s economy returned to growth, adding attractiveness for the already winning rand this year. The official quarterly report published today indicating that South Africa emerged from the worst recession in 17 years helping the rand to advance versus several … “Rand Advances as Recession Officially Ends”
Euro gets good figures but fails to break – Is
Good figures sent the Euro higher today, but failed to take it out of the range. How long will this last? Are the dollar bulls ready to rage? Preliminary GDP proved correct in Germany. The 0.7% growth that was reported for Q3 was confirmed today with the final GDP release. German Ifo Business Climate exceeded … “Euro gets good figures but fails to break – Is”
Commodities Force Brazilian Real Up
After a losing week versus the U.S. dollar and the euro, the Brazilian currency had a rebound today as optimism returned to markets bringing investors to inject capital in emergent economies, providing support for the Brazilian real to advance versus several main traded currencies. The real finally gained today after 4 consecutive days losing versus the greenback as commodities rebounded today thanks to optimism regarding the economic growth forecast for the biggest economy in Latin America, … “Commodities Force Brazilian Real Up”
Canadian Dollar Rebounds on Gold, Oil
After posting the worst week in almost two months, the Canadian currency rebounded sharply today paring most of its previous days losses, as commodities exported from Canada had an increased demand today, attracting investors to purchase assets in the country. The Canadian currency is highly influenced by stocks and commodities prices due to its high-yielding commodity exporter economic profile, and today, as the gold rose vertically and the crude oil rebounded after … “Canadian Dollar Rebounds on Gold, Oil”
Pound Up on Global Optimism
After posting a negative performance last week versus its main rivals, the euro and the dollar, the pound had a breather today as risk appetite returned to equities and commodities markets, providing support for the U.K. currency to pare much of its losses versus the greenback and halt an advance of the European common currency. The British pound posted the best performance today versus the Japanese yen, a refuge currency that lost attractiveness today as risk appetite returned … “Pound Up on Global Optimism”
Dollar Drops on Fed Grim Speculations
After having a significant rally in the end of the last week versus the euro and several high-yielding currencies, the dollar fell today considerably, as the Federal Reserve is likely to maintain its interest rates at a record low for an undefined amount of time. The Federal Reserve Bank of St. Louis President James Bullard once again moved currencies markets supporting stimulus measures that involve mortgage-backed securities purchases, signaling that this policy may … “Dollar Drops on Fed Grim Speculations”
Negative Pound Week on Budget Deficit
The pound had a negative week versus the U.S. dollar as the U.K. posted its worst deficit figures since the measurement start, decreasing attractiveness for the British currency which performed positively in the previous week. A combination of downtrends in European stocks towards the end of this week and a U.K. deficit report who showed the worst figures since 1993, when they were officially initiated, forced the pound down versus the U.S. dollar, the Japanese yen … “Negative Pound Week on Budget Deficit”
Australian Dollar Posts Weekly Drop on Stocks
The Australian dollar had one of the weakest performs in the past months this week as stocks declined worldwide, declining attractiveness for riskier assets as the opportunities available in the Australian high-yielding financial markets, forcing also the New Zealand currency down. Currencies in the South Pacific region had one of the worst performances in around two months this week as a shift in risk levels set the price of stocks and commodities down specially towards the end of the week, providing … “Australian Dollar Posts Weekly Drop on Stocks”
South African Rand Down on Rally Concerns
The South African rand had the first week of decline this month as speculations suggested that the currency’s rally could be a problem for the country’s economic future. After gaining more than 25 percent this year versus the U.S. dollar and ranking among the top emergent market currencies in foreign-exchange markets, discussions among politicians and the central bank regarding the rand’s level started to emerged, forcing a decline for the South African currency this … “South African Rand Down on Rally Concerns”