After touching the highest rate in February on renewed risk appetite, the Canadian dollar retreated versus its U.S. counterpart after the Federal Reserve raised its discount rate for the first time in three years, allowing the greenback to be more attractive than the loonie in forex markets. The Canadian dollar ended a winning streak against the dollar and erased most of this week’s gains versus the U.S. currency after the Federal Reserve discount rate … “Canadian Dollar Down on U.S. Discount Rate”
Month: February 2010
Discount Rate Surprise Fuels Dollar Rally
The dollar touched the highest level in 2010 versus several important currencies this Thursday as the Federal Reserve raised its bank discount rate for loans, spurring demand for assets in the country as the economy seems to be picking up, allowing the nation’s central bank to lift stimulus. All of the 16 main traded currencies dropped versus the greenback after the Federal Reserve announced a discount rate hike for direct bank loans, being that the first … “Discount Rate Surprise Fuels Dollar Rally”
Pound Suffers as British Economy Struggles to Rebound
The British pound was one of the worst performing currencies today in foreign-exchange markets as its monthly budget deficit for January decreased appeal for assets in the country and fueled speculations that economic stimulus will be need for a longer period to help the kingdom’s economy to grow. After posting its first budget deficit for January since 1993 this week, the pound declined versus most of the 16 main traded currencies as it signaled that … “Pound Suffers as British Economy Struggles to Rebound”
Chilean Peso Down on U.S. Economic Improvement
The Chilean peso suffered with the side effects of positive reports in North America that attracted traders to purchase assets in the U.S., leaving emerging markets in a second plan for traders to invest their money, despite a considerable level of risk appetite in today’s session. Positive U.S. data in multiple economic sectors as manufacturing and housing combined with a lower deficit in the treasury’s accounts allowed the greenback to gain sharply versus the Chilean peso, as South American … “Chilean Peso Down on U.S. Economic Improvement”
Brazilian Real Profits on National Stocks Advance
The emerging market Brazilian currency advanced today after carnival’s bank holidays, fueled by a rally in the nation’s stocks supported by better than expected data published today in the U.S., allowing the real the reach high levels versus the pound and the euro. The Brazilian real ranked among the best performing currencies today after U.S. manufacturing and housing reports boosted appeal for riskier assets in Latin Americans markets, allowing the real to gain versus the U.S. … “Brazilian Real Profits on National Stocks Advance”
Canadian Dollar Slides Versus Greenback on U.S. Data
After reaching almost its record high versus the U.S. dollar this month as risk appetite rose globally, the Canadian dollar slid as U.S. economic data published today attracted traders to inject capital in the world’s wealthiest nation, decreasing appeal for assets in its Northern neighbor. The loonie, as the Canadian dollar is popularly known due to the bird’s image in one of the currency’s coin, retreated from the almost highest level this month … “Canadian Dollar Slides Versus Greenback on U.S. Data”
Dollar Revives Rally on Domestic Data
The dollar gained today versus most of the 16 main traded currencies paring yesterday’s losses as demand for assets in the U.S. rose after several better than expected figures came out in reports published in the U.S., evidencing that the economic recovery in the country is accelerating. The greenback touched the highest level in two weeks versus the Japanese yen and erased the euro’s advance from the beginning of the week after manufacturing and housing reports published today … “Dollar Revives Rally on Domestic Data”
British Employment – A Bitter Disappointment for the Pound
The turnaround in the British job market is in doubt, similar to the economy’s growth. The number of unemployed Brits leaped, hurting the Pound’s cautious recovery. Let’s see the numbers: British Claimant Count Change, which is an early and important indicator of employment, showed a big rise in the number of unemployed people – 23,400. … “British Employment – A Bitter Disappointment for the Pound”
Mexican Peso Climbs on Prospective Foreign Investors
The Mexican peso had another day of advance as commodities rose globally and speculations that foreign investors will purchase the nation’s bonds helped the Latin American currency to extend its rally for another day in foreign-exchange markets. A combination of two distinct factors helped the peso to gain for a fourth day versus the U.S. dollar as the country’s bonds are likely to be included in the Citibank global bond index and the crude oil rose, rising odds … “Mexican Peso Climbs on Prospective Foreign Investors”
Decade Low for EUR/AUD
It’s quite a rarity to see a pair trade at levels last seen in 2000. EUR/AUD has this honor. The breach of a technical barrier reflects the fundamentals perfectly. EUR/AUD is now trading at 1.5268 bouncing off the a bottom of 1.5188 earlier. These numbers don’t mean too much as this isn’t a popular cross. … “Decade Low for EUR/AUD”