Speculations that demand for commodities will continue to grow in the U.S. and globally are helping the Canadian dollar to benefit from this scenario as exportation of raw materials account for half of the country’s trading revenue. The Canadian rose against almost all of the 16 main traded currencies as metallic and energetic commodities abundant in the country are experiencing a high demand as the global economic recovery spurs demand for raw materials. Canadian fundamentals are also stronger … “Canadian Dollar Continues to Profit on Commodities”
Author: admin_mm
Greece’s Budget Deficit Affects Euro Performance
The euro declined today versus most of the 16 main trade currencies as some of its member countries, specially Greece, are having a hard time to adjust its national accounts, decreasing confidence among investors to inject capital in the region. Greece’s deteriorating financial situation once again influenced negatively the euro’s outlook as German Chancellor Angela Merkel affirmed that the Southern European budget deficit may hurt the sentiment among investors … “Greece’s Budget Deficit Affects Euro Performance”
Aussie – Great Employment Numbers Aren’t Enough for a
Australian employment numbers were excellent, but weren’t enough for the Aussie – it failed to break the important resistance line for the second time this week. Double top? Or just a matter of time? Australia’s employment change figure showed a rise of 35,200 jobs. This was better than last month’s Aussie job figures and also … “Aussie – Great Employment Numbers Aren’t Enough for a”
Yen Tumbles as Australia Fuels Risk Rally
The Japanese currency declined in the beginning of this Thursday’s session on Australia’s better than expected employment data, which increased attractiveness for riskier assets as the South Pacific economy recovery improves confidence among traders. The yen, known as the best refuge currency for times of uncertainty, declined today as unemployment surprisingly fell in Australia, bringing Japanese investors to buy riskier assets overseas, as the Australian economic recovery indicates better economic conditions not only … “Yen Tumbles as Australia Fuels Risk Rally”
Australian Dollar Climbs on Unemployment Rate
The Australian dollar climbed after employment figures were published in the country with better-than-expected numbers, adding confidence that the economic recovery in the country is accelerating its pace, spurring demand for assets in the South Pacific region. After unemployment in Australia declined to 5.5 percent and surprised forecasts that expected an increase, the Aussie dollar gained versus most of the main traded currencies, specially lower-yielding options like the Japanese yen, impacted by the growing … “Australian Dollar Climbs on Unemployment Rate”
Dollar Drops Slightly on Fed Comments
The dollar had a mediocre performance today losing versus a considerable number of currencies after the nation’s central bank was not so optimistic regarding the U.S. economy recovery, declining appeal for the greenback. The dollar posted a disappointing performance in a day were equities and commodities markets increased appeal for higher-yielding currencies. The British pound posted another advance versus the greenback as Bank of England‘s policy markers signaled that interest rates in the U.K. are … “Dollar Drops Slightly on Fed Comments”
Canadian Dollar Rebounds After Bearish Days
The Canadian dollar profited from a higher risk appetite session today and rebounded versus the yen and its U.S. counterpart as equities rose in North America, allowing the correlated loonie to profit from this trading scenario. After two days losing in currency markets as concerns that the Canadian economic recovery is not as robust as analysts suggested, the loonie rebounded today, profiting from a positive performance of stocks and commodities, which have an extreme … “Canadian Dollar Rebounds After Bearish Days”
Aussie Dollar Falls on New Home Loans
The Australian dollar fell sharply versus lower-yielding currencies today as a real estate report declined optimism regarding the South Pacific economy, in a day were commodities and equities markets which have a strong correlation with the Aussie, declined. Basically everything worked against the Australian dollar today as a report in the country showed that new home loans decreased the most in more than a year, in a day were equities dropped and demand for commodities declined, … “Aussie Dollar Falls on New Home Loans”
Norwegian Krone Tumbles as Commodities Rally Slow Down
After several days gaining versus the dollar and the euro, the Norwegian currency slid versus main traded currencies as a bearish day in equities markets and decreased demand for commodities shunned investors from assets in the Nordic country. The Norwegian krone was affected today as the crude oil, the nation’s chief export, had a decline on its rates after China imposed new lending requirements for banks in the country, affecting markets’ sentiment, consequently impacting stock … “Norwegian Krone Tumbles as Commodities Rally Slow Down”
Canadian Dollar Falls on Trade Deficit Surprise
The Canadian dollar had its rally towards parity with its U.S. counterpart halted after a monthly trade deficit was posted today, raising doubts that the nation’s economy is not going as good as some analysts like to believe. The loonie had a disappointing surprise today as Canada posted a trade deficit of more than $300 million while forecasts suggested a surplus of $500 million, surprising traders and affecting the outlook … “Canadian Dollar Falls on Trade Deficit Surprise”