The Canadian dollar pared some of the losses occurred this week as risk appetite rose significantly before the end of this Friday’s session, allowing the loonie and other currencies tied to growth to outperform a weakened U.S. dollar. After a report in the U.S. showed a decrease in seasonally adjusted existing home sales figures, the loonie rose versus its U.S. counterpart, also helped by an increase in risk appetite as the Asian economy produced better than expected … “Canadian Dollar Benefits from Poor U.S. Data”
Month: February 2010
Singapore’s Dollar Gains on Asian and Domestic Economic Data
The Singapore dollar had one of the best weekly performances since the beginning of the year as optimism towards the domestic and regional economies improved, allowing the Singaporean currency to gain towards the weekend. After Singapore’s industrial production rose last month in the seasonally adjust annual rate as much as twice what forecasts suggested, the country’s dollar rose, with several countries in Asia, as South Korea and Malaysia also contributing for the optimism growth in the region this week. … “Singapore’s Dollar Gains on Asian and Domestic Economic Data”
Budget Deficit Sets Pound to Sharp Fall
The British pound had another week of losses versus currencies from its main trading partners as the emerging budget deficit problems in the country are affecting market confidence among traders, shunning capital from the country towards other more favorable investment opportunities. The recession in the U.K. last year was the deepest in the country since official numbers started to measured, and as the government spending is growing without significant improvements in the British economy, … “Budget Deficit Sets Pound to Sharp Fall”
Euro Rebounds on Greek Crisis Comments, U.S. Home Sales
The euro had the sharpest gains today this week as speculations that Greece will be bailed out by public lenders associated with worse than expected real state data in the U.S. were supportive for a corrective movement on the euro’s charts. The European single currency is going to end this week with one of the best performances since the beginning of 2010 as German officials mentioned that Greece may be helped financially … “Euro Rebounds on Greek Crisis Comments, U.S. Home Sales”
Dollar Drops on Asian Improved Data
The U.S. dollar started this Friday’s trading session losing versus most of the 16 main traded currencies as reports in Asia didn’t confirm mediocre forecasts and brought optimism towards the global economic recovery. The dollar fell for a second day after touching the highest price in 2010 versus the euro earlier this week as bank lending improved in the South Pacific region and Japan’s monthly retail sales advanced surprising forecasts and pushing Asian … “Dollar Drops on Asian Improved Data”
New Zealand Dollar Rebouns Slightly on Favorable Trade Balance
The New Zealand dollar has been impacted by a decline in risk appetite globally on growth concerns in Europe and North America, but today, after the country’s trade balance showed a smaller trade deficit, the currency rebounded. The kiwi, as the South Pacific currency is often referred to, rebounded from the lowest rates in almost a month as a decline in the nation’s imports allowed the negative trade balance gap to tighten, being that a favorable reason to allow … “New Zealand Dollar Rebouns Slightly on Favorable Trade Balance”
U.K.’s Pound: New Budget Deficit Victim?
The U.K.’s currency continued to decline as speculations that a new long term crisis is likely to unfold in Britain as concerns regarding the country’s record budget deficit will be a solid obstacle on the way for economic recovery, setting the pound down mainly versus refuge currencies. After budget gaps in the Eurozone started to impact the euro’s price last December, the Great Britain is showing itself the new victim of a fiscal crisis that is … “U.K.’s Pound: New Budget Deficit Victim?”
Risk Averse Scenario Moves Loonie Charts
The Canadian dollar slid to the lowest level in two weeks versus its U.S. counterpart as pessimism regarding the global economy is affecting the outlook for currencies linked to growth, as its the case of the loonie, since Canada is one of the world’s leading suppliers of commodities. This Thursday was once again marked by risk aversion as concerns regarding the European economic health are forcing traders to avoid riskier bets in foreign-exchange markets, on speculations that … “Risk Averse Scenario Moves Loonie Charts”
Yen Benefits on European Risk Aversion
The yen was one of the biggest winners in the beginning of this Thursday’s session in Asia, as risk aversion surging from Europe is attracting investors to the safety profile of the Japanese currency. Speculations that Japanese exporters are repatriating capital before this month’s end combined with a Standard and Poor’s statement suggest that Greece may encounter new credit downgrades allowed the yen to beat all of the 16 main traded currencies in foreign … “Yen Benefits on European Risk Aversion”
Euro: The Endless Pit in 2010
The euro has just touched a new record low for 2010 versus the greenback and the yen on speculations that Greece will suffer its first credit downgrade this year, which would follow the two previously suffered last year as the southern European nation started to agonize with its growing budget deficits. After Standard & Poorâs announced that Greece may be subject to another downgrade on its credit rating … “Euro: The Endless Pit in 2010”