The European single currency slid for another day versus most of the 16 main trades ones in forex markets as Greece and the EU are exchanging accusations towards each other regarding the southern country budget crisis and how it should be solved, shunning investors from the Eurozone. Greek Prime Minister George Papandreou said yesterday he may turn to the International Monetary Fund to bail out its country and end the most … “Greek-IMF Funding Threat Pulls Euro Down”
Month: March 2010
Canadian Dollar Flirts with Greenback Parity on Commodities
The Canadian dollar gained for another session, in a rally that seems to be endless, as the Federal Reserve ratified its dovish position on its interest rates, allowing the strong flow of capital from the U.S. towards north to continue for another day. The crude oil, one of Canada’s notably known commodity export, advanced this Wednesday, and for another day, more than 1 percent, allowing attractiveness for assets in the Toronto Stock Exchange to advance even … “Canadian Dollar Flirts with Greenback Parity on Commodities”
Euro Couldn’t Sustain Gains on Budget Concerns Return
The euro lost versus against most of the main traded currencies this Wednesday as Greek budget deficit was once again hitting the headlines of European news, decreasing appetite for the bloc’s single currency, as currencies tied to growth topped the performance rank in forex markets today. A combination of European pessimism with a global appetite for risk made the perfect receipt for the Euro to slash yesterday’s gains, posting a considerable decline even against a weaker dollar, … “Euro Couldn’t Sustain Gains on Budget Concerns Return”
Pound Jumps on Jobs – Breaks Major Resistance
The number of unemployed Brits fell dramatically – this unexpected improvement sent the Pound higher, sent the Pound above a major resistance line. Will this hold? A big test for GBP/USD – it could mark a long term turnaround. Claimant Count Change is the earliest and most important employment indicator in Britain. It reflects the … “Pound Jumps on Jobs – Breaks Major Resistance”
Loonie to Reach Parity with Greenback?
After a rather gloomy start of the year for the loonie as investors returned to the U.S. as its economy picked up in the two moths of 2010, the Canadian dollar is once again making its way towards parity with its U.S. counterpart, as commodities and stocks continue to push its rates up. The Federal Reserve announced today that interest rates in the U.S. will remain on its record low for the following months, causing an exodus of capital … “Loonie to Reach Parity with Greenback?”
Dollar Suffers from Fed Rates Policy
The dollar has started this week losing versus important currencies after the Federal Reserve made dovish statements regarding the country’s interest rates outlook, shunning investors to purchase assets in North America, making riskier assets to climb considerably. After the Federal Reserve stated on its interest rates decision today that they shall remain low for an extended period, a number of currencies gained versus the dollar, specially the euro as Standard … “Dollar Suffers from Fed Rates Policy”
GBP/USD Breaks Up Towards Big Barrier
The British Pound enjoyed the mild FOMC Statement in the US to break above a minor resistance line and approach a much bigger one. Events ahead will probably stop it. Update. GBP/USD broke last week’s high of 1.5220 and is now trading above 1.5250. This is the highest level in two and a half weeks, … “GBP/USD Breaks Up Towards Big Barrier”
EUR/USD – Edging Up Before the Plunge?
Looking at the hourly charts, EUR/USD is trading in an uptrend channel since the end of February. The near past tells us that the drop is near. The charts can speak for themselves. EUR/USD bounced off the bottom line of 1.3423 three times at the end of February and the beginning of March. This line … “EUR/USD – Edging Up Before the Plunge?”
U.K. Housing Data Boosts Pound’s Rally
The British pound had a positive performance before the weekend as both domestic and international scenario brought favorable news and consequently traders to purchase assets in the country, as a real estate report revived confidence towards U.K.’s economy. The pound pared some of the past weeks’ losses versus important currencies, specially the U.S. dollar after a report showed this Friday that house prices increased considerably in the monthly comparison, being that positively interpreted … “U.K. Housing Data Boosts Pound’s Rally”
Dollar Down Before Weekend on Riskier Bets
Currencies tied to growth outperformed the U.S. dollar as risk appetite was predominant before foreign-exchange markets closed this Friday, considering that retail sales in North America expanded in the monthly comparison, raising optimism to higher levels among investors. Oddly enough, like during the worst moments of the global slump last year, a positive U.S. report affected the appeal towards the greenback after retail sales rose in February, according to a report … “Dollar Down Before Weekend on Riskier Bets”