The U.S. currency was performing quite well during most of this week’s session as optimism regarding the U.S. economy was high, but the employment data published on Friday forced the greenback down versus most of the main traded currencies, as figures came much below forecasts. The dollar posted the biggest weekly in two months as a non-farm payrolls report indicated more jobs cuts than expected, frustrating forecasts and declining odds that … “Payrolls Cause Dollar’s Weekly Decline”
Month: January 2010
Chilean Peso Drops After Copper Rally
The Chilean peso outperformed most of the main traded currencies as a copper price rally boosted appeal for assets in Chile, which declined this Friday after the metallic commodities failed to extend their gains. The Chilean currency had a very positive performance apart from this Friday’s slide, as the economy showed signs of improvement according to the nation’s central bank, and the copper, responsible for one quarter of Chilean exports, had an increase on its rates and demand … “Chilean Peso Drops After Copper Rally”
Investment Agency Rating Pushes Polish Zloty Up
The Polish currency advanced today in foreign-exchange markets as Pimco speculates that 2010 will allow several emerging markets to outperform other investments, favoring the zloty in this Friday’s trading session. The zloty benefited from statements coming from the largest bond fund in the world, Pacific Investment Management Co., which predicted better returns in 2010 for zloty-priced assets, as well as investments in Mexico and South Korea, helping their currencies to rally as well. … “Investment Agency Rating Pushes Polish Zloty Up”
Canadian Dollar Near 2-Month High on Oil
The Canadian dollar returned to gain today as its chief export, the crude oil, rallied as demand for energy increases, favoring currencies with a similar profile in foreign-exchange markets as the Australian dollar, which is a main commodity supplier for China. The loonie, as the Canadian dollar is often referred, had the fourth day of advances in this week as the crude oil returned to trade high in commodity markets closing future contracts near $ 83 a barrel, … “Canadian Dollar Near 2-Month High on Oil”
Unexpectedly Negative Payrolls Force Greenback Down
An employment report waited during all the week and released today frustrated analysts bringing weaker-than-expected figures for the U.S. economy, pulling the dollar down versus most of the 16 main traded currencies. After the non-farm payrolls report indicated that employers cut more jobs than forecasts suggested, the demand for dollar-priced and high-yielding currencies declined significantly in foreign-exchange markets as traders become more risk averse interpreting the pessimist data indicated in the U.S. … “Unexpectedly Negative Payrolls Force Greenback Down”
US Gained Jobs In November – Dollar Bulls Not Giving Up
NFP was a disappointment with a significant job loss. But looking at last month’s figure gives the dollar bulls some strength, especially against the Euro. Non-Farm Payrolls for December fell by 85,000. This was a big disappointment, as the market was expecting a balanced figure, and even a rise in jobs. The rise in jobs … “US Gained Jobs In November – Dollar Bulls Not Giving Up”
Norwegian Krone Falls From 16-Month High
The krone fell today from the highest rate since September 2008 as the nation’s government finally expressed concern regarding the currency’s strength, halting a rally versus the euro that started in the end of 2009. Norway’s Industry Minister Trond Giske affirmed today that the krone may become too strong, fueling speculations that the government may intervene if the currency continues to extend its gains, mostly fueled by renewed demand for crude … “Norwegian Krone Falls From 16-Month High”
Unchanged Rates and Bond Purchases Maintain Pound Down
The British currency continued to suffer from its central bank monetary policies as interest rates remained unchanged in the country, suggesting that the recession will remain a reality in England for an extended period. A concerning budget deficit combined with weak economic data has been affecting the pound’s outlook as the Bank of England insists on its asset-purchase program which hasn’t been effective so far, as well as in all-time record low interest rates … “Unchanged Rates and Bond Purchases Maintain Pound Down”
Canadian Dollar Finally Retreats After 5 Day Rally
The Canadian currency declined today versus most of the 16 main traded currencies after stocks and commodities had their rallies halted as risk appetite eased among traders globally, forcing commodity linked currencies down. The Canadian dollar together with its Australian counterpart, both considered commodity linked currencies, lost versus the U.S. dollar as this week’s crude oil rally was halted today as risk appetite declined … “Canadian Dollar Finally Retreats After 5 Day Rally”
Employment Data Pushes U.S. Dollar Up
A report published today indicating fewer-than-expected new jobless claims applications last week allowed the dollar to gain versus the euro and several other currencies as improving employment data is a key-evidence indicating the U.S. economic recovery expected for 2010. A positive sentiment towards the U.S. employment conditions provided support for the greenback to touch the highest level in four months versus the yen as traders expect a payrolls report tomorrow to show a decrease in job losses, … “Employment Data Pushes U.S. Dollar Up”