The dollar is storming through the charts and making gains everywhere before the major release of the Non-Farm Payrolls. Not all currency pairs are equal – some are more vulnerable than others and approaching dangerous levels. A nice gain of jobs in the Non-Farm Payrolls could push them off the cliff. Here’s a quick update … “3 Vulnerable Currencies Towards the NFP”
Month: February 2010
NZ Dollar Falls on 2009 Record High Unemployment
The New Zealand dollar started this Thursday falling sharply versus virtually all main traded currencies as its unemployment rate reached the highest rates in a decade, suggesting that the South Pacific economy is far from a complete recovery. The kiwi declined significantly after a jobless report surprised forecasts and indicated an unemployment rate of 7.3% in the fourth quarter of 2009, decreasing chances that interest rates will be hiked in the following … “NZ Dollar Falls on 2009 Record High Unemployment”
Norway’s Krone Falls on Central Bank Warning
The Norwegian krone slid today versus the world’s main traded currencies, as the nation’s benchmark interest rates were maintained on hold by the nation’s central bank, and are unlikely to be raised as soon as speculators hoped. The krone fell today versus the euro and the U.S. dollar as the Norges Bank stated that a strong currency will delay eventual rate hikes, forcing the Nordic currency down after the crude oil, one of the country’s main exports, … “Norway’s Krone Falls on Central Bank Warning”
Canadian Dollar Slides on Stocks, U.S. Data
The Canadian dollar posted its first day of losses this week as risk appetite that fueled its rally since Monday decreased today, forcing markets with strong influence with the loonie down, and consequently erasing the Canadian dollar’s gains versus its U.S. counterpart. Raw materials account for more than half of Canada’s exports revenues, and as energetic commodities didn’t maintain their bullish patterns perceived in the beginning of the week, … “Canadian Dollar Slides on Stocks, U.S. Data”
Dollar Pare Losses on Positive Economic Data
The appeal for the U.S. currency surged today after an employment report showed another consecutive improvement suggesting that economic conditions are better in North America than in other wealthy regions around the world. The greenback had its first day of gains this week advancing versus virtually all main traded currencies in foreign-exchange markets as a non-farm payrolls report indicated that employment conditions continued to improve in the U.S., supporting speculations … “Dollar Pare Losses on Positive Economic Data”
Time for a Positive NFP
Non-Farm Payrolls must show gains in jobs this time – the high expectations became higher with the release of the ADP figure that was better than expected. Will there be dollar rally on Friday? Here’s a preview for the Non-Farm Payrolls for January. Last month’s Non-Farm Payrolls were disappointing and showed a loss of 85,000 … “Time for a Positive NFP”
Yen Drops as Riskier Assets Gain on Confidence
The yen dropped started this Wednesday dropping versus most of the 16 main trading currencies as renewed risk appetite declined attractiveness for the Japanese currency, known for its safety profile that traders tend to abandon as market sentiment improves. The yen did not manage to pare losses versus the euro in the beginning of this Wednesday’s trading session as speculations forecast that an Eurozone retail sales report will indicate improvements on the bloc’s economic … “Yen Drops as Riskier Assets Gain on Confidence”
Canadian Dollar Extends Gains on Commodities
The Canadian dollar continued to erase last week’s losses versus lower yielding currencies as commodities and stocks rebounded in North America, boosting appeal for Canadian assets as the country’s economy is extremely orientated to raw material exports. The loonie, as the Canadian dollar is known popularly, gained for another day, specially versus its U.S. counterpart and the yen as the crude oil, one of its main exports, advanced further, bringing confidence back among … “Canadian Dollar Extends Gains on Commodities”
Dollar Slides Versus Commodity-Linked Currencies
The U.S. dollar failed to pare yesterday’s losses as risk appetite continued to favor higher-yielding and commodity related currencies, erasing partially last week’s advance for the greenback as factors supporting the dollar’s strength continued to fade this Tuesday. The greenback had its second day of losses this week even if pending home sales in the U.S. increased, as demand for riskier assets rose globally allowing specially commodity linked currencies like the Canadian … “Dollar Slides Versus Commodity-Linked Currencies”
Aussie Dollar Falls on Unchanged Rates
Despite risk appetite fueling demand for commodities produced in Australia, the Aussie dollar declined after a central bank decision published today showed no rate hikes expected by traders as the country’s economy rebounds. The Australian dollar broke its 2010 record low versus the greenback after forecasts hoping interest rates to be raised in the country were not confirmed, frustrating traders that opted for other commodity producer’s currencies as the South … “Aussie Dollar Falls on Unchanged Rates”