The South African rand touched a one-week high versus the U.S. dollar today as demand for several commodities produced in the country emerged, providing support for the African nation’s currency to advance despite negative speculations. Despite analysts overview for the rand, suggesting it may decline as interest rates are likely to be raised in U.S. in 2010, the rand rose today to a one-week high versus the greenback as demand for metallic commodities as the gold and the platinum rose globally, … “South African Rand Advances on Demand for Metals”
Author: admin_mm
Dollar Rebounds on Jobless Claims
After having its winning streak halted yesterday and earlier today on a negative housing report and as the Fed insisted that economic stimulus will be maintained, the dollar rebounded slightly as an employment report brought optimism back to the currency’s outlook. The U.S. dollar started today’s session losing specially versus the euro after touching the lowest level in December, and also dropped versus the pound and the Canadian dollar as stocks surged globally, but as a jobless … “Dollar Rebounds on Jobless Claims”
Romanian Leu Hits Record High on New Prime Minister
The Romanian leu touched the highest level in three months versus the euro after the country’s parliament chose its new prime minister, lifting speculations that a political crisis could influence the country’s economy negatively. After the Romanian Parliament approved a new government led by prime minister Emil Boc, speculations that loan approvals necessary for stabilizing the Eastern European economy would not be approved disappeared, helping the leu to advance … “Romanian Leu Hits Record High on New Prime Minister”
Russia’s Ruble Climbs Further as Oil Touches $75
The Russian currency benefited from another day of growing demand for the crude oil, providing support for the ruble to advance versus the euro, dollar and the pound, as the demand for energy rises in the coldest season of the year in the Northern Hemisphere. After the crude oil touched $75 a barrel in New York today, the ruble continued its previous days advances versus most of the main currencies as the economic outlook for the world’s biggest energy exporter in 2010 is very optimistic, … “Russia’s Ruble Climbs Further as Oil Touches $75”
U.S. Dollar Declines on Frustrating Housing Report
A long winning streak for the greenback versus currencies like the euro and the Aussie dollar was stopped after a housing report was published today bringing rather negative figures much below estimates, providing support for other currencies to pare losses versus the U.S. dollar. The dollar declined sharply versus the yen and the Swiss franc after several days rallying versus most of the 6 main traded currencies after a new home sales … “U.S. Dollar Declines on Frustrating Housing Report”
Pound Falls Further on BOE Meeting Outcome
The pound declined for another day after policy makers agreed unanimously to extend stimulus in order to rescue the faltering British economy from the longest recession in the last decades, decreasing attractiveness for an already weakened currency in foreign-exchange markets. The U.S. dollar traded near a two-month high versus the British pound after this monthâs central bank meeting talks published today indicated that all policy makers opted for extending its bond … “Pound Falls Further on BOE Meeting Outcome”
Home Sales Optimism Sets Greenback to Record High
The U.S. currency touched a three-month high versus the European common currency as another favorable report, this time in the real estate sector, attracted more investment towards the recovering North American currency. The dollar gained the most versus the euro and the pound as an existing home sales report beat estimates touching 6.54 million units, an advance from the previous month reading and another evidence that the pace of recovering in the U.S. is accelerating. EUR/USD … “Home Sales Optimism Sets Greenback to Record High”
Russian Ruble Rally Halted After OPEC Meeting
The Russian ruble, which gained during the past three days as the crude oil rates advanced globally, had its rally stopped today after decisions taken in an OPEC meeting in Angola, which influenced the oil prices. After the Organization of Petroleum Exporting Countries agreed to maintain its current oil production quotas stable on a meeting held in Angola, the crude oil rates stopped to advance, consequently halting a ruble rally, since Russia … “Russian Ruble Rally Halted After OPEC Meeting”
Canadian Dollar Top Performer on Interest Rates Outlook
The Canadian dollar advanced for a third day in a row after favorable reports showed improving economic conditions in the North American nation, suggesting that interest rates in the country may be hiked sooner than expected. The loonie is ranking among the preferred bets among investors in currency trading this week before a gross domestic report to be published tomorrow indicating a further growth for the Canadian economy according to most of analysts, adding … “Canadian Dollar Top Performer on Interest Rates Outlook”
Pound Suffers on U.K.’s Recession Numbers
The pound declined today versus the euro and the U.S. dollar as the Great Britain did not manage to find its way out of recession like multiple wealthy nations around the world already did, shunning investors from pound-priced assets in currency and equities markets. U.K.âs Office for National Statistics published today its final gross domestic product figures for this year’s third quarter, showing a decline of 0.2 percent for the kingdom’s economy, … “Pound Suffers on U.K.’s Recession Numbers”