Author: admin_mm

The Mexican peso fluctuated today, following the yesterday’s decline, amid the speculations that the import in China diminishes, increasing the concerns that the global economy might falter. Imports of copper and copper products into China fell to 328,231 metric tons (17 percent) in June from May. Copper prices have declined 10 percent in 2010 on the speculations that demand would fall. Some analysts say, though, that fundamentals should push … “Mexican Peso Fluctuates on Growth Concern & Favorable Outlook”

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The Australian dollar fell against the Japanese yen and experienced the volatility versus the U.S. currency today on the concerns for the global economic growth; the kiwi outperformed the euro as the New Zealand economy might be in a better shape than Europe’s one. Bill English, the Minister of Finance of New Zealand, voiced hope that the nation’s budget would return to the surplus before 2016 as New Zealand shows fiscal discipline. The budget deficit already reported to be … “New Zealand Dollar Down vs. Yen, Up vs. Euro”

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The Australian dollar weakened today, following the huge leap up in the last week, on the speculation that the currency has rallied too much, while the global economic growth might slow. The U.S. retail sales estimated to decline by 0.3 percent in June, while the consumer price index expected to drop by 0.1 percent. There were the good news also, limiting the losses of the Aussie. The Standard & Poor’s 500 companies’ profits estimated to increase … “Aussie Falls After It Rallied Too Much Last Week”

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The euro experienced the second day of losses today as the stress tests failed to convince the investors in the ability of the European banking system to withstand the sovereign-debt crisis. The threat of the fiscal crisis’ expansion beyond the boundaries of Greece and Spain turns away the investors from the euro to the relative safety of the U.S. currency. Some economists say that the euro is even overvalued now and the $1.14 level required to bolster the regional exports. EUR/USD traded at about 1.2567 as of 13:22 … “Euro Drops vs. Dollar on Debt Crisis Concerns”

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The Great Britain pound dropped today below the $1.50 threshold for the first time from the beginning of this month amid the signs that Britain’s economy falters. The U.K. current account recorded the deficit of £9.6 billion in the first quarter of 2010, down from the revised surplus of £0.5 billion in the previous quarter. That was more than twice of the originally expected value of £4.5 billion deficit. GBP/USD dropped to 1.5028 today as of 11:38 GMT … “Pound Falls as Current Account Deficit Widens”

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The U.S. dollar posted gains against the Great Britain pound and the Japanese yen this week, on the other hand, the greenback fell versus the euro, extending its losses for the second week. The speculations that the economic recovery gains momentum and the statement of  Jean-Claude Trichet, that the European economy fares better than most market participant think, bolstered the euro against the dollar, despite some losses in the beginning and the end of the week. The week was … “Weekly Movement of U.S. Dollar”

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