The Japanese currency declined versus most of the 16 main traded currencies after speculations rose that Japanese officials are ready to intervene on the current yen’s level, as it would be an obstacle for the Japanese economic recovery, decreasing competitiveness for the nation’s exports. After the Japanese newspaper Nikkei affirmed that Japanâs Prime Minister Yukio Hatoyama made statements against the yen’s current levels, the yen immediately dropped versus virtually all … “Yen Drops on Intervention Talks”
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Dollar Rise on U.S. Stocks Decline
After a very sharp fall versus the euro and high-yielding currencies, the dollar gained today as equities markets, specially in the U.S. ended a rally that started in the beginning of the week with renewed optimism regarding the Dubai debt. The U.S. dollar had been having a negative performance this week as risk appetite grew intensively after China posted the best monthly manufacturing figures in 5 years, creating an exodus of capital from dollar-price assets … “Dollar Rise on U.S. Stocks Decline”
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on a luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can … “7 Ways to Avoid Forex Scams”
Aussie Dollar Rocketing on Rates Hike
The Australian dollar rose versus most of the 16 main traded currencies as interest rates were once again raised in the country, making the Aussie currency one of the most attractive investment in foreign-exchange markets this year. A day of high risk appetite which several optimistic news coming from Dubai and China helped the Australian dollar to gain further after the Reserve Bank of Australian raised interested rates for the third time in a row, adding … “Aussie Dollar Rocketing on Rates Hike”
Brazilian Real Benefits From China’s Manufacturing
The Brazilian real, together with most emergent markets currencies, climbed today, specially versus the greenback and the yen, as risk appetite returned to markets on renewed optimism. After China posted the sharpest monthly increase in 5 years for its manufacturing growth, stocks went up globally, favoring the Brazilian real that gained consistently, specially versus a less attractive U.S. dollar. USD/BRL traded at 1.7253 as of 17:47 GMT from an opening rate … “Brazilian Real Benefits From China’s Manufacturing”
Crude Oil Sets Canadian Dollar to Record High
The Canadian dollar touched the highest rate in 2 weeks after risk appetite returned to commodities and equities markets, forcing the main Canadian export, the crude oil, up, and consequently affecting positively the rates for the loonie mainly versus its U.S. counterpart that lost versus most of the majors today. A session of high risk appetite today provided support for the Canadian currency to outperform several other currencies and touch the highest rate in 15 days … “Crude Oil Sets Canadian Dollar to Record High”
Dollar Weakens on Pending Home Sales, Dubai Rescue
The dollar had another day of negative performance versus the euro and most of high-yielding currencies this Tuesday as home sales in the U.S. improved and Dubai World’s debts are likely to be rescue by the Abu Dhabi sovereign financial authority. The U.S. dollar is having a negative start of the week posting its second consecutive day of losses versus most of the 16 main traded currencies as risk appetite returned to markets declining attractiveness for the U.S. … “Dollar Weakens on Pending Home Sales, Dubai Rescue”
Polish Zloty Rises on GDP Acceleration
The Polish currency gained today versus several currencies in the region and the U.S. dollar as GDP figures fort the third quarter beat forecasts, setting the confidence towards the Polish economic recovery to higher levels. The Polish economy grew 1.7 percent in the past quarter started in September, surprising analysts that suggested a 1.5 growth for the same period, helping the zloty to advance versus regional currencies like the Hungarian forint, but also the yen and the U.S. … “Polish Zloty Rises on GDP Acceleration”
Canadian Dollar Advances on GDP Figures
After Canada posted positive quarterly gross domestic product figures, the national currency benefited on the economic outlook and optimism, advancing versus most of the 16 main traded currencies in foreign-exchange markets. Even if Canadian GDP quarterly figures came below expectations at an annual rate of 0.4 percent, optimism helped the loonie, that also benefited after the U.A.E. central bank said it will back debts made by the Dubai World … “Canadian Dollar Advances on GDP Figures”
Pound Drops on Consumer Confidence Decline
The U.K. currency start this week falling versus the euro and several other currencies as report showed a decline in the domestic consumer confidence, indicating that the U.K. still hasn’t managed to surged from recession, forcing stocks in London down as well. The pound fell versus virtually all main traded currencies as the consumer sentiment unexpectedly fell, posting its first decline in 10 months and surprising traders in the U.K. negatively, declining attractiveness … “Pound Drops on Consumer Confidence Decline”