The Brazilian real, ranked as the best performing currency in foreign-exchange markets during the past year, posted another weekly drop and ended the month losing versus most of the main traded currencies as appeal for Brazilian raw materials declined on renewed risk aversion. The Brazilian currency reached the lowest rate in 2010 versus the U.S. dollar this Friday as both international and national scenarios provided traders with pessimistic news that fueled an exodus of capital … “Brazilian Real Posts Weekly Drop on Chinese Demand”
Month: January 2010
Canadian Dollar Falls Despite Positive GDP
The Canadian dollar ended another week declining versus its U.S. counterpart and lower-yielding currencies despite a report showing that the nation’s economy grew for another month, as the U.S. GDP report had more impact in markets globally. Even if a report showed that Canada’s gross domestic product rose for a third consecutive month in November 2009, the loonie declined versus the greenback as a report indicated that the U.S. economy expanded more … “Canadian Dollar Falls Despite Positive GDP”
Swiss Franc Tumbles From Record High
The Swiss franc retreated versus the euro and the pound after gaining sharply, on speculations that the nation’s central bank intervened to control the franc’s rally. After the franc touched the highest level in 10 months versus the euro, it fell sharply before the end of this week’s session, on speculations that Swiss National Bank officials sold the currency to prevent the franc to rally further. SNB President Philipp Hildebrand refused to comment on the subject. EUR/CHF … “Swiss Franc Tumbles From Record High”
Euro Suffers on Single Currency Crisis Speculations
The euro lost today versus most of main traded currencies as rising budget deficits in some Eurozone member countries is shunning investors from the region, as well as speculations suggesting that Greece would leave the single currency affected market sentiment in the Euro area. The euro had its sharpest gains versus the Swiss franc today as leading indicators in the alpine country rose for another month consecutively, evidencing the strength and resilience of the Swiss … “Euro Suffers on Single Currency Crisis Speculations”
GDP Pushes Dollar Up Before Weekend
The dollar is going towards the end of this week with a positive performance versus most of its main trading partners currencies, after a GDP report published today brought figures beyond what analysts suggested, adding confidence for the U.S. economy and currency outlook. The greenback had its sharpest gains today versus the yen after Japanese policy makers said that they are ready to intervene on financial markets, as a strong … “GDP Pushes Dollar Up Before Weekend”
Market Reacts Slowly But Powerfully to the Strong US
Advance GDP for the fourth quarter showed a super-strong growth of 5.7%, much better than expected. The market’s reaction wasn’t strong at first. There are two reasons for this slow initial response. The highest growth rate in 6 years doesn’t impress the markets at first. EUR/USD (in a lower range) traded at 1.3940, only 30 … “Market Reacts Slowly But Powerfully to the Strong US”
Chilean Peso Down on Manufacturing Data
The Chilean peso is facing its longest losing trend in more than a year as a combination of international risk aversion with poor national economic data is causing an exodus of capital from one of South America’s most dynamic economy. After a report was published today showing weaker-than-expected data for manufacturing productions and sales, the Chilean currency dropped for the ninth day in a row, as copper, the country’s chief-export, had the third day of straight … “Chilean Peso Down on Manufacturing Data”
Polish Zloty Climbs on Country GDP
The zloty advanced today versus the euro after a GDP report showed that Poland was the only EU member country to dodge recession in 2009, bringing regional investors to inject capital betting in the resilience of the Eastern European nation. After a gross domestic product report published today indicated a growth of 1.7 percent for the Polish economy last year, the zloty gained versus the euro and its neighboring countries currencies, as Poland’s dynamism to avoid … “Polish Zloty Climbs on Country GDP”
Euro Tumbles on Southern Regional Budget Deficits
The euro slid today versus virtually all of 16 main traded currencies on foreign-exchange markets as some Eurozone member countries raising budget deficit is still affecting attractiveness for assets in the region, in a day were commodity linked currencies outperformed most currencies as risk appetite returned to markets. The euro was affected today as new events coming from Portugal and Greece fueled emerging fears that these southern European nations … “Euro Tumbles on Southern Regional Budget Deficits”
EUR/USD – New Week, New Lower Range
EUR/USD dipped below another important support line and is getting used to a new range. Will it settle in a lower range next week? Not so fast. Here’s an updated technical look at EUR/USD. The reasons for the fall start in Greece and end at Washington or Beijing – the EUR/USD bears are everywhere. But … “EUR/USD – New Week, New Lower Range”