The Australian dollar plummeted against its U.S. counterpart today after the U.S. stocks went down as the demand for the higher-yielding assets fell, driven down as the Goldman Sachs Group Inc. was sued for the fraud. The U.S. Securities and Exchange Commission charged the Goldman Sachs today, saying that the company and one of its vice presidents were deceiving the investors by omitting and misstating crucial facts about the financial product tied to subprime mortgages. The Aussie dropped … “Demand for Higher-Yielding Assets Falls, Driving Aussie Down”
Author: admin_mm
Canadian Dollar Goes Down with Waning Demand for Commodities
The Canadian dollar tumbled today against its U.S. counterpart, erasing the previous gains, and versus the euro after the crude oil’s prices fell and as China is going to cool its economy and put an end to the yuan’s dollar peg. Two days ago the Canadian currency reached the parity with the greenback for the first time since June 2008, but it’s experiencing the sharp drop now, trailing the oil prices. The crude oil is … “Canadian Dollar Goes Down with Waning Demand for Commodities”
Dollar Goes Up with Need for Safer Currency
The U.S. dollar gained today, benefiting from the rising demand for the safer currencies after the meeting of the European Union’s minister to discuss measures, required to fight the budget deficits, and as China plans to let its currency float. The speculation that Greece may be forced to use its rescue package, provided by the EU governments, makes the investors to shun the euro and look for some safer currency, the dollar being the one of the options. China is going … “Dollar Goes Up with Need for Safer Currency”
Dollar Builds on Housing Figures
Both building permits and housing starts came out better than expected.. This data might save the dollar from a very bad week. I’ve already written that American housing is off the bottom. Now it took one step forward. American building permits printed 690K, the best since October 2008, at the height of the crisis. This … “Dollar Builds on Housing Figures”
TV Debate Signals Stalemate in Election, Driving Pound Down
The Great Britain’s pound rally against the U.S. dollar halted and its gains versus the euro snapped today as the concern that the forthcoming parliamentary election will result in the stalemate renewed with the greater strength after campaign’s first televised debates. As the election is drawing near the concern about strength of the government becomes more and more prominent, because the government certainly needs to be strong to fight the nation’s record budget shortage. And the prospect for the strong … “TV Debate Signals Stalemate in Election, Driving Pound Down”
Yuan Strengthens as Economy Grows
The Chinese yuan rose against the euro today on the speculation that the nation’s expanding economy will encourage the policy makers to allow the appreciation of the China’s currency. The economic expansion was helped mainly by the stimulus programs and even the 29 percent jump of the exports in the first quarter doesn’t seems to make the policy makers to be very willing to end the crisis measures. The Chinese economy widened 11.9 percent in the first quarter, faster than the 10.7 percent … “Yuan Strengthens as Economy Grows”
Loonie Trades Near Parity with Greenback
The Canadian dollar trades near parity with its U.S. counterpart as traders shored up bets before the meeting of the nationâs central bank to determine the interest rates, occurring next week. The relatively fast pace of the economic recovery in Canada gave birth to the speculation that the faster rebound may result in the faster increase of the interest rates. The economic recession had somewhat lesser impact on the Canada’s economy, compared to other countries, and now it … “Loonie Trades Near Parity with Greenback”
USD/CAD Feeling More Comfortable with Parity
After USD/CAD reached parity last week, it made a retreat and closed the week higher. This time, the pair went lower, and refuses to run away from parity. If USD/CAD closes the week under 1.0000, it will be set for more losses towards the Canadian rate decision. USD/CAD is now trading around 1, after another … “USD/CAD Feeling More Comfortable with Parity”
Chinese Widening Economy Helps Won
The widening growth of the Chinese economy helps to boost other Asian country’s economies and exports, and the appreciating South Korean won is one of the signs of this trend. The funds are streaming into the country, as the investors have the bullish outlook for the Korea’s performance. The experts think that the Korean currency has the potential to continue its rise. The news can be considered favorable not only to the Asian region, but to the world as well as the exporters in the regional … “Chinese Widening Economy Helps Won”
Euro Down as Concern for Greece Resurfaces
The euro went down today as the concern grows that the rescue package, provided by the European Union to Greece and valued as much as 45 billions euro ($61 billion), wouldn’t be enough to completely deal with the country’s debt. The worries about the strength of the Greece’s economy grow anew and may hurt other European countries as the concerns are spreading to them too. Another such country may be Portugal as was signaled by the EU official’s … “Euro Down as Concern for Greece Resurfaces”