The Swiss franc, considered a refuge currency, benefited today from a rather risk averse scenario and gained versus several currencies, declining below less than 1.50 line versus the euro for the first time since March. Even if the Swiss currency is at rather considerably high levels, different from the last time it traded below 1.50 against the euro the Swiss National Bank did not intervened, as the outlook for the European … “Swiss Franc Hits 9-Month High Versus Euro”
Author: admin_mm
Canadian Dollar Benefits on Iran-Iraq Oil Tensions
The Canadian currency is ranking among the best performers today in foreign-exchange markets as the crude oil and metallic commodities rose today, favoring Canadian stocks that benefited from tensions in the Middle East region. After Iranian forces occupied an oil well on its neighboring country Iraq yesterday, the crude oil rates jumped significantly, providing support for the loonie to beat most of 16 main traded currencies in the past hours, as the commodity is … “Canadian Dollar Benefits on Iran-Iraq Oil Tensions”
Yen Falls on BOJ Low Rates Policy
The Japanese currency fell today versus the 6 main traded currencies in foreign-exchange markets after the nation’s financial authority followed the global trend among wealthy nations and ruled out rate hikes for the short-term future, declining attractiveness for the Asian currency. After statements this week in the U.S. and the Eurozone affirming that interest rates will be maintained at very low levels for an extended period of time, this time, in Japan, the national central … “Yen Falls on BOJ Low Rates Policy”
Extra Leverage for Forex Winners
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Greek Credit Rating Pulls Euro Down
The euro had a weak performance today losing versus the greenback and the dollar after Greece credit rating was downgraded by a financial agency, bringing risk aversion up in European stock markets. After Greece’s rating second downgraded by Standard and Poor’s this year, the euro was deeply affected as concerns that several member countries using the common currency will still face complications in 2010, declining attractiveness for the euro that touched … “Greek Credit Rating Pulls Euro Down”
Brazilian Real Drops on Global Pessimism
The Brazilian currency had its sharpest fall since the end of September as several negative events in financial markets worldwide declined appeal for higher-yielding assets and commodities, which are both the best trading possibilities in the Latin American nation. After the Federal Reserve declined possibilities of interest rate hikes sooner than previously expected and Standard and Poor’s downgraded Greece’s credit rating for the second time this year, appeal for emergent-markets and higher-yielding currencies … “Brazilian Real Drops on Global Pessimism”
Retail Sales Force Pound Down
An unexpectedly negative retail sales report published today in London forced the pound down versus several currencies as it indicates that economic struggle in the country is still a reality in the U.K., shunning investors from pound-priced assets. The pound touched a two-month low versus the U.S. dollar after the Office for National Statistics published the first retraction in retail sales in the U.K. in six months, indicating that the economic recovery process in the nation will … “Retail Sales Force Pound Down”
Dollar Extends Rally on Greek Credit Rating
The dollar gained today versus the euro and specially higher yielding currencies as speculations that Greece may struggle to pay its debts surged, raising demand for safety and providing support for the greenback and the yen to be the best performers in currency markets this Thursday. The U.S. gained versus most of 16 main traded currencies after Greece, an Eurozone member country, received the second credit downgrade by Standard and Poor’s this year, decreasing attractiveness … “Dollar Extends Rally on Greek Credit Rating”
Pound Advances Versus Euro on Employment Data
In another bullish day versus the euro, the pound found support to extend its winning streak after U.K.’s unemployment declined, a strong signal of recovery for the British economy. The pound traded today at a one-month high versus the euro after the unemployment rate in Great Britain posted its first, and unexpected, fall since February 2008, providing support for the British currency to gain in foreign-exchange markets as investors bet on the U.K.’s economic recovery for 2010. EUR/GBP … “Pound Advances Versus Euro on Employment Data”
Surprise Rate Hike Pushes Norway’s Krone Up
The Norwegian currency climbed today versus most of 16 main traded currencies after the nation’s central bank rose its benchmark interest rate surprising analysts and attracting traders to krone-priced assets. The Norges Bank contradicted most of forecasts today raising by a quarter-point its interest rates to 1.75 percent alleging it should prevent the Nordic economy to overheat, as the inflation is near the central bank target of 2.5 percent. Norway’s central … “Surprise Rate Hike Pushes Norway’s Krone Up”