Japan’s Yen Weakens as Global Economy Recovers

The Japanese yen weakened today as the rallying stocks and the interest rates hike in Australia added to the signs of the global economic recovery, decreasing the demand for the safer currencies. The MSCI Asia Pacific Index of regional shares rose 0.3 percent, while the MSCI World Index advanced for the fourth day. The growth of the US and China’s manufacturing and the interest hike in Australia also supported the outlook for the recovery of the world economy. USD/JPY advanced from 80.49 to 80.78 today as of 10:20 … “Japan’s Yen Weakens as Global Economy Recovers”

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Aussie Reaches Parity with Greenback After Rates Hike

The Australian dollar rose today after the central bank unexpectedly raised the interest rates today, increasing the attractiveness of the nation’s assets. The Reserve Bank of Australia raised its cash rate to 4.75 percent, while the analysts predicted the bank would remain the rate unchanged at 4.50 percent. Glenn Stevens, the Governor of the Reserve Bank of Australia, said in his statement that “the risk of inflation rising again over the medium term remains”. AUD/USD jumped … “Aussie Reaches Parity with Greenback After Rates Hike”

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Canada’s Dollar Gains as Oil Prices Rises

The Canadian dollar gained today against its US counterpart as oil, the main nation’s export, advanced and on the speculation that the quantitative easing by the Federal Reserve would weaken the US currency. The loonie also rose versus the euro. The anticipated announcement of the quantitative easing boosted the loonie, as the Canadian currency often nicknamed, against the greenback, while the advance of the oil prices bolstered the Canadian dollar versus some other currencies. December delivery for crude oil … “Canada’s Dollar Gains as Oil Prices Rises”

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Dollar Strengthens on PMI & Construction Spending

The dollar gained today after the reports showed that the construction spending and the manufacturing in the US unexpectedly grew and as the speculators closed some of their long positions on the euro ahead of the Federal Open Market Committee meeting this weak. The Institute for Supply Management Purchasing Managers’ Index rose to 56.9 in October, while it was expected to decline to 54.2. It was at 54.4 in September. The construction spending grew 0.5 percent in September. It dropped … “Dollar Strengthens on PMI & Construction Spending”

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China’s Manufacturing Bolsters Rand

China’s manufacturing growth also bolstered the South African rand as it has increased the appeal of the higher-yielding currencies. China Federation of Logistics and Purchasing Purchasing Managers’ Index advanced to 54.7 in October from 53.8 in September. The Hongkong and Shanghai Banking Corporation Purchasing Managers’ Index also gained, rising from 52.9 to 54.8 in October. Good news bolstered the stocks and the riskier currencies across the world. USD/ZAR jumped from 6.939 to 6.997 as of 11:30 … “China’s Manufacturing Bolsters Rand”

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Franc Drops as China’s Manufacturing Curbs Demand for Safety

The Swiss franc declined today as the stocks gained and the Chinese manufacturing expanded, curbing the demand for the safer currencies. The franc also dropped after the report showed that China’s Purchasing Managers’ Index rose from 53.8 to 54.7 in October. The MSCI World Index gained 0.3 percent and the Stoxx Europe 600 Index went up 0.5 percent. The reports from Switzerland itself weren’t so encouraging. USD/CHF rose from 0.9826 to 0.9881 … “Franc Drops as China’s Manufacturing Curbs Demand for Safety”

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