The brighter outlook for the economic growth of the US and China bolstered the stocks and the commodity prices today, improving the risk sentiment. The investors’ willingness to risk benefited the Canadian dollar, which jumped to the highest level in three weeks. Chinaâs industrial output advanced 13.9 percent in August from the previous year and the annual growth of the retail sales were 18.4 percent last month. The report about the US retail sales will be released tomorrow; the analysts … “Good Risk Sentiment Bolsters Canadian Dollar”
Month: September 2010
Mexico’s Peso Rises on Crude Oil & US Stocks
The Mexican peso strengthened against the US dollar today for the fourth day as crude oil gained and the US equities went up, making Mexico’s peso the best performing currency of Latin America. Prices for crude oil, one of the main sources of revenue for Mexico, rose 2.9 percent to $76.40 per barrel. The Standard & Poorâs 500 Index gained 0.5 percent. The Mexican currency advanced 0.1 percent last week. USD/MXN fell … “Mexico’s Peso Rises on Crude Oil & US Stocks”
Euro Gains as Recovery Concern Ease, Basel Extends Deadlines
The euro gained today versus the US dollar and the Japanese yen as China’s economic expansion improved outlook for the global economic recovery and as the banks were given eight years to comply with more strict capital rules. The Chinese reports showed higher than predicted retail sales and the biggest advance of the industrial production in three months, supporting the outlook for the sustainable global recovery. The Basel Committee on Banking Supervision extended to eight years the deadline for the lenders … “Euro Gains as Recovery Concern Ease, Basel Extends Deadlines”
Week of Risk Appetite Boosts New Zealand Dollar
The improving outlook for the global economic recovery helped the New Zealand dollar to rise for the most part of the week (in fact, the upward trend showed itself in the week before) and become one of the best performing currency (together with the Australian dollar) this week. The New Zealand dollar was rising for four days of this week, declining only on Tuesday versus the yen and the greenback. Excluding this decline, it was rising for seven days. Against the euro … “Week of Risk Appetite Boosts New Zealand Dollar”
Sixth Day of Gains for AUD/USD on Outlook for US & China’s Growth
The Australian dollar rallied today for the sixth straight day versus the euro and for the third against the US dollar and the Japanese yen as the outlook for the US and China’s economies improved, making the investors more willing to risk and increasing demand for the riskier assets. The report yesterday showed that the applications for the unemployment benefits in the US decreased by 27,000 last week. The US retail sales gained 0.3 percent in August, following the advance by 0.4 percent in July, according to the forecasts. … “Sixth Day of Gains for AUD/USD on Outlook for US & China’s Growth”
Loonie Slips as Probability of Rates Hike Looks Low
The Canadian dollar weakened today versus its US counterpart and halted the five-day rally against the euro after Mark Carney, the Governor of the Bank of Canada, said that the policy maker would be “careful” in considering whether to raise the interest further and their decision will be influenced by the outlook for the US economic growth. Currently the currency is slowly regaining its strength. The hawkish statement of the Bank of Canada earlier caused the traders to bet … “Loonie Slips as Probability of Rates Hike Looks Low”
Forex Traders Survey
CitiFX launches a wide survey of forex traders – wide in the number of participants and deep in the number of questions. Anyone can participate. The results are due in October. 25 questions are presented in this survey. They cover a wide range of array of areas that are significant to forex traders. CitiFX says … “Forex Traders Survey”
NZD/USD Rises for Third Day as Risk Appetite Strengthens
The New Zealand dollar rose today versus its US counterpart for the third straight day as the reports showed that the unemployment claims in the US dropped more than expected and as China’s exports grew, bolstering the risk appetite. The exports of China, New Zealand’s second biggest trading partner, rose by 34.4 percent from the year earlier. The report yesterday showed that the number of claims for the jobless benefits decreased from 478,000 to 451,000 last … “NZD/USD Rises for Third Day as Risk Appetite Strengthens”
Franc Falls as China’s Trade Surplus Reduces Demand for Safety
The Swiss franc went down today as China’s trade surplus was above $20 billion for the third consecutive month, easing the concerns that the global recovery losing momentum and reducing the demand for the safer assets. China’s exports expanded 34.4 percent and inbound shipments rose more than predicted to 35.2 percent in August. The resulting trade surplus was $20.03 billion, while forecasts promised $26.9 billion. At the same time in the previous year … “Franc Falls as China’s Trade Surplus Reduces Demand for Safety”
Sterling Declines as Interest Rates Remain Unchanged
The Great Britain pound weakened today after the Bank of England kept the interest rates unchanged and Nick Clegg, the Deputy Prime Minister of the United Kingdom, said that Britain’s economic recovery may be “uneven”. The Bank of England held the key rate at 0.50 percent and performed the quantitative-easing asset purchases at £200 billion ($310 billion). The UK deficit on trade in goods widened to £8.7 billion in July, compared with the deficit of £7.5 billion … “Sterling Declines as Interest Rates Remain Unchanged”