The Canadian dollar started another week trading high versus its U.S. counterpart as markets that influence its rates rallied in the start of this week, specially energetic and metallic commodities, before tomorrow’s interest rate decision in the North American nation. After a rather bearish past week for the crude oil which posted consecutive days of losses as risk aversion rose in Europe and China, the Canadian dollar benefited from a rebound in the oil … “Canadian Dollar Continues Bullish Pattern on Commodities”
Author: admin_mm
Pound May Climb On Asset Purchase Program Ending
The U.K. currency may be experience a shift on its sentiment as speculations suggest that the current quantitative easing measures used by the nation’s central bank will be terminated, as the country starts to publish positive economic reports, suggesting that the recession may be ending in the British Isles. This week will be decisive for the pound as inflation yearly numbers are due to be published the next Tuesday, and if forecasts will be … “Pound May Climb On Asset Purchase Program Ending”
Dollar Profits From Global Economic Pessimism
This Friday’s shift in market sentiment allowed the U.S. dollar to post a weekly advance versus most of the main higher-yielding currencies, as risk aversion rose globally and traders opted by the relative safety provided by dollar-priced assets. The dollar gained significantly versus commodity producer currencies like the Brazilian Real and the Australian dollar towards the end of this week as China’s new lending restrictions raised concerns that demand for raw materials may decline … “Dollar Profits From Global Economic Pessimism”
Swedish Krona Gains on Greece’s Budget Deficit
The Swedish krona ended this week gaining versus the European single currency as Greek’s budget deficit is once again affecting the outlook for the euro, which also declined versus most of the main traded currencies in foreign-exchange markets. The krona ended this week with a third consecutive day of gains versus the euro after Greece’s deteriorating economic health is raising concern towards traders regarding the Eurozone, after European Central … “Swedish Krona Gains on Greece’s Budget Deficit”
Australian Dollar Down on Chinese Risk Aversion
The Australian dollar was one of the most affected currencies today as speculations that Chinese lending requirements will slow down the global economic recovery impacted traders’ sentiment, declining appetite for high-yielding currencies. The Aussie and the kiwi declined today versus most of the main 16 traded currencies, after one of its main trading partners, China, is likely to reduce property loans after the government set new restrictions for lending money … “Australian Dollar Down on Chinese Risk Aversion”
Canada’s Dollar Retreats on Oil, Risk Aversion
The Canadian dollar declined versus its U.S. counterpart and lower-yielding currencies as risk aversion rose impacting markets with extreme influence in the loonie rates, those of raw materials and equities, which dropped globally this Friday. The loonie was impacted today as energetic and metallic commodities declined, specially the crude oil, as raw material exports account for more than half of the country’s international trade revenue, in a day of bearish markets in New York … “Canada’s Dollar Retreats on Oil, Risk Aversion”
Yen Benefits from China’s Lending Restrictions
Demand for safety rose today as concerns among investors that Chinese lending limits announced this week by the nation’s government may impact the global economic performance, allowing the yen to beat all of the main traded currencies in foreign-exchange markets today. The yen gained today versus greenback as reports in the world’s wealthiest country came slightly below forecasts, also showing a slow down in the inflation. The euro declined sharply versus the Japanese currency … “Yen Benefits from China’s Lending Restrictions”
EUR/GBP Breaking Below
EUR/GBP has made a significant downwards breakout, reaching a 4-month low. Here are some of the reasons and the technical levels to watch. EUR/GBP broke under the 0.8852 line that was the low on December 17th. It also went below the November 17th low of 0.8834. At 0.8820 (at the time of writing), it’s at … “EUR/GBP Breaking Below”
Australian Dollar Rallies on Interest Rate Outlook
Once again interest rates are fueling a rally for the Aussie dollar as it happened in the second half of the last year, when the South Pacific currency ranked among the best performing options in foreign-exchange markets. Positive employment data published in Australia this Wednesday is helping the Aussie to rally to high levels versus most of the main traded currencies, as a declining unemployment rate, currently at 5.5 percent and much better than other key-economic … “Australian Dollar Rallies on Interest Rate Outlook”
Brazilian Real Declines on Treasury Plans
The Brazilian real posted the fourth straight day of decline versus the U.S. dollar as speculations suggest that the Treasury is likely to start a debt selling plan to buy dollars, declining attractiveness for the real in currency markets. The real touched the weakest level in 2010 today as speculations suggest that overseas investors are leaving the country, and such capital outflows declined appeal for the emerging market South American currency. A Treasury plan that may … “Brazilian Real Declines on Treasury Plans”