The U.K. currency entered its second day of gains versus most of the main traded currencies after evidences of economic improvements started to appear in the country, increasing appetite for assets in the country, which have been lately affected by grim forecasts towards the kingdom’s economy. Two positive economic releases helped the pound to beat multiple currencies this week so far after an index of services industries rose to the highest levels since the global … “Consumer Confidence Support Sterling’s Advance”
Author: admin_mm
Dollar Down after European News
The dollar started this Tuesday losing versus European and higher-yielding currencies as positive events in the old continent pushed further up risk aversion in trading markets globally, making the pound and the euro to rank among the best performers versus the greenback today. The pound managed to gain versus the dollar and traded above $1.50 ending the longest losing streak versus the U.S. currency in more than a year, after consumer confidence rose in the country to the highest … “Dollar Down after European News”
EUR/GBP Enjoys Pound Collapse
EUR/GBP enjoyed the Pound’s collapse to break one technical barrier and bounce off the next one. Update on this interesting cross. The British Pound began the week with a big collapse: GBP/USD fell below 1.50 and bounced off the support line at 1.4770. This collapse was also felt in the Euro. EUR/USD also had a … “EUR/GBP Enjoys Pound Collapse”
Chilean Peso Climbs After Earthquake
The Chilean peso oddly profited from a natural tragedy that impacted the country in the first night of this month, as speculations suggest that the reconstruction process in the country, will allow the country’s economy to accelerate. The South American country is likely to repatriate reserves invested overseas to promote a quicker restructuring in the country after Chile was shook by an earthquake this weekend, allowing the peso to rank among the best performing currencies this Tuesday in forex … “Chilean Peso Climbs After Earthquake”
Euro Up on Greek Hopes
The euro emerged versus several important currencies as Greece will propose a strategy to solve its budget deficit crisis, declining pessimism among investors to purchase assets in the Eurozone. The Eurozone had a breather today after Greece, the main responsible for the euro’s most recent downtrends, announced through government officials that decisions are likely to be presented anytime to soon to tighten the countries massive budget deficit, increasing optimism that the fiscal … “Euro Up on Greek Hopes”
IPO Boosts Demand for Brazilian Real
The Brazilian real is starting this month extending last week’s advance and reverting a negative trend from the beginning of the year, as the appeal for assets in the country are attracting foreign capital inflows and helping the real to beat a number of currencies in foreign-exchange markets. Brazil has one of the highest interest rates around the world and renewed appetite for risk in equities markets are allowing the South American currency to post a series of gains versus important currencies … “IPO Boosts Demand for Brazilian Real”
Canadian Dollar Profits from Central Bank Comments
The Canadian dollar started the month of March on a bullish pattern after policy makers in the country affirmed that inflation is slightly above what the Bank of Canada expected, fueling speculations that interest rates may be hiked in the country anytime soon. The loonie traded below $1.04 this Tuesday after the Bank of Canada released its rate statement, mentioning a stronger than expected inflation and a higher economic output that led … “Canadian Dollar Profits from Central Bank Comments”
Aussie Rides the Rate Hike
The Australian dollar enjoyed the rate hike and approached a technical resistance line. A break of this line depends mostly on the upcoming GDP. Update on technicals and fundamentals of this strong currency. The Reserve Bank of Australia lifted the interest rate for the fourth time since the outbreak of the financial crisis. Australia’s Cash … “Aussie Rides the Rate Hike”
British Crisis Pushes Pound Further Down
The pound didn’t manage to pare last week’s losses versus most of the 16 main traded currencies this Monday, as not only the financial, but the political situation in the U.K. is rather negative, impacting the already not very attractive assets in the country. Several events pushed the pound further down today as the country may have a minority government for the first time in 35 years, which would slow down measures to be imposed … “British Crisis Pushes Pound Further Down”
Canada’s Dollars Starts Week Bullish on GDP
The Canadian dollar started this week extending a rally started last Friday as quarterly gross domestic product figures in the country surprised forecasts positively, attracting more traders to inject capital in the country as the North American economy rebounds. After a gross domestic product report showing economic data for the last month of 2009 was published today, the loonie continued to climb and reached the highest level in a week versus its U.S. counterpart as actual … “Canada’s Dollars Starts Week Bullish on GDP”