The Japanese yen extended its losses today as the European and Asian equities rose, supporting the positive outlook for the global growth and decreasing the demand for the safe currencies. The Stoxx Europe 600 Index added 0.7 percent and the MSCI Asia Pacific Index of shares rallied 1.8 percent. The International Monetary Fund forecast that the global economy will grew by 4.6 percent this year, compared with the April forecast of 4.2 percent. USD/JPY traded … “Losses of Japanese Yen Continue for Yet Another Day”
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Aussie Leaving Dust Behind it on Jobs Data
Important job figures showed another improvement in Australian employment. This pushed the recovering AUD/USD above technical barriers on its way up. Update on this strong currency. Australian employment change showed a gain of 45,900 jobs in June. This was triple the early expectations that stood on a modest gain of 15,000. It’s important to note … “Aussie Leaving Dust Behind it on Jobs Data”
Second Day of Gains vs. Greenback for Canadian Dollar
Today was the second day of gains against the U.S. currency for the Canadian dollar, as the rebound of the stocks and the rising prices for crude oil increased the attractiveness of the growth-linked currencies. The Standard & Poorâs/TSX Composite Index, Canadaâs main gauge, went up 0.9 percent, while the Dow Jones Industrial Average rose by 1.4 percent. Futures on crude oil, the biggest nation’s export, gained 2.2 percent to $73.55 per barrel on the New York Mercantile … “Second Day of Gains vs. Greenback for Canadian Dollar”
Dollar Falls on Bright Global Outlook and Grim U.S. Prospects
The U.S. dollar dropped today against some currencies as the gains of the global stocks and the increasing commodity prices brightened the outlook for the global growth, while the prospect for the growth of the U.S. economy remains less optimistic, damping the appeal of the U.S. currency as the safe haven; the euro performed even worse than greenback, though, falling against the dollar. The Standard & Poorâs 500 Index rose by 1.5 percent, following its decline by 5 percent last … “Dollar Falls on Bright Global Outlook and Grim U.S. Prospects”
Pound Falls on Concerns for Budget Cuts
The Great Britain pound weakened today as the shop prices rose in June less than in may, adding to the concern that the budget cuts would slow the economic growth. According to the British Retail Consortium, the overall shop price index declined to 1.5% in June from 1.8% in May. Does that mean that the fears of the austerity measures strangling the economy proved true? We should yet to see, but for now, the sterling reacts badly … “Pound Falls on Concerns for Budget Cuts”
Yen Reinforced by Increasing Concern for Global Recovery
The Japanese yen gained today as the renewed concerns for the global economic recovery draws the investors to the relative safety of the Japanese currency. The Australian Industry Group construction index went down from 53.2 to 46.4 in June, signaling about a decline of the construction. Germany’s factory orders expected to increase by as low as 0.5 percent, compared to the previous reading of 2.8 percent. The uninspiring nature of the economic news put the traders’ sentiment in the risk-aversion mode, boosting the Japanese currency. … “Yen Reinforced by Increasing Concern for Global Recovery”
Canadian Dollar Gains with Rebound on Global Markets
The Canadian dollar rose today against its U.S. counterpart and some other currencies as the growth of the global stocks and the advance of the commodities increased the attractiveness of the growth-related currencies. The loonie, as the Canadian currency is commonly nicknamed because of the image of the waterfowl on the C$1 coin, as the currency, tied to growth, has tendency to rise and fall with the equities and the commodity prices. Therefore, today’s rebound on the global markets was positive for the currency. September futures for copper rose as much … “Canadian Dollar Gains with Rebound on Global Markets”
Dollar Falls as Stocks Gain & Concern for U.S. Recovery Grows
The U.S. dollar weakened today as the concern for the U.S. economic recovery and gains of the global stocks decreased the appeal of the greenback as the safe currency. The Stoxx Europe 600 Index rose 2.6 percent. The Standard & Poorâs 500 Index fell 5 percent in the previous week, following the 3.7 percent decline in the week before. The Dollar Index, declined last week for the fourth week, dropping to 84.427. The previous disturbing data make the market participants to worry … “Dollar Falls as Stocks Gain & Concern for U.S. Recovery Grows”
Fundamental Overview – Market Movers This Week – 7/5/2010
The U.S. Dollar had a mixed performance last week, rising sharply against the commodities currencies, where it gained 3.9% versus the Aussie, 3.6% against the Kiwi and a slightly less dramatic 2.5% vis-à-vis the Loonie. Nevertheless, the Greenback declined 1.5% and 0.9% against the Euro and Sterling respectively, and the Dollar also fell sharply against … “Fundamental Overview – Market Movers This Week – 7/5/2010”
Euro Recovers Slightly as Equities Rise
The euro rose today as the equities gained, increasing the willingness to risk among the investors and improving the general sentiment on the markets. The Stoxx Europe 600 Index rose for the first day in more than a week. The outlook for the euro remains pessimistic, though, as the European Central Bank continues to buy the government bonds to aid the European economy, prompting the traders to think that the shared 16-nation currency may reach parity with the greenback. EUR/USD traded near 1.2583 … “Euro Recovers Slightly as Equities Rise”