The Mexican peso weakened today as the debt crisis threats to spread across the Europe, curbing the commodity prices, and on the increasing unemployment rate. Crude oil, the biggest source of the export income, forming about a third of the country’s budget, dropped 4.4 percent before settling at $68.75 per barrel today in New York. The unemployment rate climbed to 5.4 percent in April from 4.8 percent in March, while the analysts expected the lower unemployment. USD/MXN traded … “Mexican Peso Drops with Oil Prices & Higher Unemployment”
Author: admin_mm
Chilean Peso Weakened by Turmoil on Global Markets
The Chilean peso declined today versus the euro as the global equities and the commodity prices dropped, feeling the impact of the banking troubles in Spain and the conflict on the Korean peninsula. The International Monetary Fund said that Spain is too slow in reinforcing its financial institutions, adding to the concerns about the strength of the European economy. These concerns together with tension between North and South Korea show their negative influence on the markets and on the investors’ risk sentiment, … “Chilean Peso Weakened by Turmoil on Global Markets”
2 Trillion Euros of Debt – Euro Has More Room to Fall
Fresh estimations about the size of Greek, Spanish and Portuguese debt to other countries stands at the huge sum of 2 trillion euros. These numbers, bigger than estimated earlier, cast a huge shadow over the Euro. Jacques Cailloux, who is the chief European economist for the Royal Bank of Scotland, showed that the public and private … “2 Trillion Euros of Debt – Euro Has More Room to Fall”
Price Action Alert: This Trade Will Make You Hundreds Of
Guest post by Jason Madison of beatwallstreetnow.com Hello All, I am back to alert you to another highly profitable trading opportunity emerging in the Eur/Jpy. By now you all should be familiar with the inside candle breakout technique I have showed you in previous my previous post. If not, get yourself up to speed by viewing … “Price Action Alert: This Trade Will Make You Hundreds Of”
Spain and Korea Bring Anxiety on Markets, Aussie Suffers
The Australian dollar extended the decline against its U.S. counterpart and dropped against the euro as the banking crisis in Spain and the conflict between North and South Korea destabilize the markets. The regulators in Spain, supported by the request of the International Monetary Fund to reform the nation’s financial institutions, press the lenders to unite with larger partners, causing four banks announce about merging. The U.S. plans to perform anti-submarine exercises with South Korea. After the announcement of such … “Spain and Korea Bring Anxiety on Markets, Aussie Suffers”
European Woes Lead to Loonie’s Weakness
The Canadian dollar declined today after the equities and the commodities, including crude oil, fell on the concerns for the European banking system, making the investors less willing to risk and weakening the currencies tied to growth. The MSCI World Index of stocks fell 1.5 percent. Crude oil futures lost 3.1 percent to $68.06 per barrel on the New York Mercantile Exchange. Crude oil is the biggest export of Canada. The yield on the 10-year security dropped 8 … “European Woes Lead to Loonie’s Weakness”
NZ Dollar Down on Risk Aversion Sentiment
The New Zealand dollar dropped versus its U.S. counterpart today to the lowest level since July 2009 as the European troubles and the concerns about the possible escalation of the conflict between North and South Korea increased the risk aversion sentiment and caused the investors to turn away from the higher-yielding currencies. Some good news for the currency appeared too. Fonterra, the world’s largest exporter of dairy products, is expected to pay the farmers for milksolids NZ$6.60 ($4.40) … “NZ Dollar Down on Risk Aversion Sentiment”
Rand Weakened by European Troubles & Workers’ Strike
The South African rand tumbled today against the U.S. dollar, erasing its previous gains, as the concerns about sovereign-debt crisis in the European Union made metal prices decline and after the two-week wedge strike. The state-owned rail and ports operator said that the container backlog will be cleared in the South Africa’s ports as many employees returned to work, yet the Workersâ Union announced it issued secondary strike notices. Today’s report … “Rand Weakened by European Troubles & Workers’ Strike”
Britain’s Growth Upgraded – Pound Unexcited
British growth for the first quarter was revised to 0.3%. GBP/USD rises, but the initial gains were limited and erased quickly. Will the Pound make a real recovery? Update on this vulnerable pair (including technical levels). The initial release of British GDP for Q1 of 2010 was very disappointing – the growth rate was only … “Britain’s Growth Upgraded – Pound Unexcited”
Oil Prices Help Russian Ruble
The Russian ruble gained today against the U.S. dollar and the euro after the oil prices stabilized near $70 level, improving the outlook for the economy of Russia, the largest energy exporter in the world. July delivery for crude oil increased by 1.3 percent to $70.96 in New York and traded at $70.12 in Moscow when ruble trading ended. China, the second biggest consumer of oil in the world, may postpone its attempts to rein its economic growth. This … “Oil Prices Help Russian Ruble”