The euro pared previous losses with a number of currencies this Thursday as the ECB affirmed that a series of measures used to stimulate the bloc’s economy on its way out of recession will be phased out, adding evidences that the economic health in the Eurozone is improving significantly. The European Central Bank President Jean-Claude Trichet stated today that gradually stimulus measures used to dodge recession will be lifted towards the complete … “Euro Up as ECB Shifts Stimulus Program”
Month: November 2009
Pound Up as Asset Purchase Program Changes
The pound climbed significantly versus the dollar, and to a lesser extent versus the euro as the national central bank extended its asset-purchase program less than expected, suggesting that the British economy is needing less government stimulus to find its way out of recession, increasing attractiveness for the U.K. currency. The Bank of England has been using its asset-purchase program to stimulate the faltering economy in the U.K., and its further extension was lower by … “Pound Up as Asset Purchase Program Changes”
Jobless Rates Push New Zealand Dollar Down
The New Zealand dollar lost versus most of the 16 main traded currencies this Thursday as the quarterly unemployment rate in the country grew further, decreasing attractiveness for the kiwi, as growing unemployment figures are a sign of bad economic health. The Reserve Bank of New Zealand Governor Alan Bollard affirmed that a strong currency is likely to slowdown the economic recovery process that the South Pacific nation is experiencing, raising concerns among … “Jobless Rates Push New Zealand Dollar Down”
Dollar Down Before Fed Decision
The dollar had a day of losses versus most of 16 main traders before the Fed will publish its monetary policies decisions tomorrow, as investors expect a rather dovish tone in policy makers’ statements. The greenback had its worse session in more than a week as speculations suggest that interest rates to be published tomorrow in the United States by the Federal Reserve are extremely likely to be maintained at a record low, shunning … “Dollar Down Before Fed Decision”
Brazilian Real Extends Gains on Domestic Optimism
Several reasons are providing support for the Brazilian currency to extend this week’s gains as risk appetite rose today increasing demand for commodities, injecting money in Latin American stocks, consequently adding confidence towards the real’s outlook. The Federal Reserve is likely to remain interest rates in the United States at a record low of 0.25 percent tomorrow, fact which is forcing investors to search for higher-yielding opportunities in emergent markets, being Brazil … “Brazilian Real Extends Gains on Domestic Optimism”
Canadian Dollar Extends Rally Before Fed Statement
The Canadian dollar continued to gain this Wednesday versus the greenback as demand for commodities produced in Canada and stocks worldwide gained significantly, raising attractiveness for the loonie even further, after several sessions of losses during the past week. The Federal Reserve is likely to post statements regarding monetary policy in the U.S. this Wednesday, and according to virtually all economists, rates are likely to remain unchanged, which is good for the Canadian dollar, since … “Canadian Dollar Extends Rally Before Fed Statement”
Euro Climbs on Stocks Performance
After several days losing to safer currencies like the greenback and the yen, the euro had a sharp increase in its rates today after risk appetite returned to markets, mainly after some financial conglomerates posted earnings for the past quarter. Market sentiment suffered a significant shift today in Europe after Societe Generale SA, one of the biggest banking empires in France with branches around a number of European countries, posted better than … “Euro Climbs on Stocks Performance”
Brazilian Real Gains as Stocks Rebound
After posting the sharpest fall in 8 months in the beginning of this week, Brazilian stocks rebounded this Tuesday, providing support for the real to gain versus most of the 16 main traded currencies in foreign-exchange markets. Increased demand for commodities and a rebound in Brazilian stocks provided support for the real to erase some of the losses it posted in the beginning of this week, as traders were confident to reinvest money in Brazilian assets, helping BOVESPA, the biggest national stock … “Brazilian Real Gains as Stocks Rebound”
Mexican Peso Impacted by Downgrade Speculations
The Mexican peso had a negative day losing versus most of 16 main traded currencies as the national congress approved new tax regulations that may affect Mexican assets attractiveness, shunning investors from the Latin American nation. After a series of new taxes approved by the Mexican congress, fears rose that Mexico will be downgraded in investment ratings, speculations which already affected negatively the peso’s outlook today … “Mexican Peso Impacted by Downgrade Speculations”
Pound Remains Weak on U.K. Banking Outlook
The pound continued to be traded at low levels versus the euro and specially the greenback as new evidences that banking conglomerates in the United Kingdom are still facing a complicate situation and will need further stimulus from the government to avoid bankruptcy. The pound tumbled further down today even if recovered much of its losses later on as one of the biggest banking institutions in the country declared that it will borrow more funds from … “Pound Remains Weak on U.K. Banking Outlook”