The U.S. currency rebounded versus the euro before the end of this week’s session as another positive report brought optimism towards the economic outlook in 2010 for the United States. After losing versus the pound, euro, and higher-yielding currencies earlier, today the dollar managed to pare much of its losses as applications for jobless claims declined for another week in the U.S., surprising forecasts, and adding confidence that economic improvements are accelerating in the world’s wealthiest nation. … “Dollar Gains on Jobless Claims Decline”
Month: December 2009
Brazil’s Real Ends Year as Best Performer
The Brazilian real finished 2009 as the best performing currency in foreign-exchange markets among 16 main traded currencies, as stocks had the highest rise in 6 year in the South American nation. Brazil’s resilience concerning the global crisis, a wide availability of natural resources and an attractive equities market as well as higher than average interest rates helped the Brazilian currency to beat all other majors in foreign-exchange markets this year, and is likely to remain … “Brazil’s Real Ends Year as Best Performer”
Pound Posts First Yearly Gains Since 2006
The pound extended its weekly gains today versus the euro and the U.S. dollar, ending the year with the first advance versus both since 2006, as the British economy shows its first evidences of recovery, affecting its currency positively. After a report surprised investors today showing an increase in U.K. house prices beyond forecasts, the pound posted its first weekly advance versus the greenback since mid November and also managed … “Pound Posts First Yearly Gains Since 2006”
Dollar Falls on Corrective Speculations
After gaining more than 5 percent this month versus the euro the greenback declined as investors speculate that current gains for the U.S. currency may have been excessive, forcing the dollar down versus higher-yielding currencies as well. After today’s decline the dollar is still posting an advance of more than 4 percent versus the European single currency this month, as future contracts suggest a good performance in 2010 for the dollar, … “Dollar Falls on Corrective Speculations”
Czech Koruna Climbs on Industrial Data
The Czech koruna advanced to a one week high versus the euro after a positive industrial report that fueled speculations that one of the most affected European economies is emerging for the hardest crisis since the end of communism in Czech Republic. After falling for 14 straight months, industrial production rose in Czech Rep. today, adding speculations that the country is leaving the worst recession in 20 years, which could help policy … “Czech Koruna Climbs on Industrial Data”
Pound Rallies From 3-Month Low Versus Euro
After speculations that the British currency would be undervalued in currency markets, the pound managed to climb versus the euro and the greenback, as it touched the lowest rate in 11 months versus the U.S. dollar earlier. The British currency also benefited from a real estate report indicating an increase of 0.9 percent in house prices in November in the U.K., fueling speculations that the pound would be undervalued, which allowed the currency to gain versus most … “Pound Rallies From 3-Month Low Versus Euro”
Dollar Climbs Before Year End on Business Activity
The U.S. dollar had a bullish performance today and gained considerably versus the euro and the yen as speculations rose that the Fed will start a process of lifting economic stimulus introduced during the worst moments of the global slump to revive the U.S. economy. The dollar benefited today from a business activity report that came much above forecasts, interpreted as another solid evidence that an economic recovery is on the way in 2010 for the U.S., which could … “Dollar Climbs Before Year End on Business Activity”
Canadian Dollar Drops on Oil, Stocks Performance
The Canadian dollar dropped from the highest level in 2009 versus the euro as stocks did not manage to extend the advance reached in the beginning of the week, forcing the currency down also versus its U.S. counterpart. After touching the highest level versus its U.S. counterpart in two months, the loonie started to decline yesterday and extended its losses today as the crude oil’s volatility affected the Canadian currency performance in a day of weak performance in equities … “Canadian Dollar Drops on Oil, Stocks Performance”
Canadian Dollar Bullish on Global Recovery
The Canadian dollar, together with other currencies from commodity producer countries, is profiting from positive estimates for 2010 global economic recovery, which if confirmed will raise demand for Canadian commodities, consequently pushing the loonie up. The loonie fell in the past few hours after touching the highest rate in 2 months versus the its U.S. counterpart and a record high in 2009 versus the euro as optimism towards the global economy … “Canadian Dollar Bullish on Global Recovery”
South African Currency Up on Risk, Capital Repatriating
The South African rand was one of the best performing currencies today in foreign-exchange markets as appeal for higher-yielding commodity exporter currencies was high, providing support for the rand to beat even an attractive dollar in today’s session. Speculations that South African exporters are repatriating capital to the nation before the end of the year also forced the rand further up in a session that virtually all events provided support for the rand to gain against most … “South African Currency Up on Risk, Capital Repatriating”