The Chilean peso had a rally that set it to the highest rate in 2009 stopped after the central bank made a declaration regarding the current currency’s strength. After touching a recording high for this year versus the U.S. dollar this week, the Chilean peso went down today after the national central bank President affirmed that interventions are not ruled out, affecting market psychologically and forcing the nation’s currency down. … “Chilean Peso Down on Central Bank Statement”
Author: admin_mm
Canadian Dollar Deepens Losing Streak
It has not been a favorable day for the Canadian dollar as stocks went down globally, the crude oil, one of the nation’s main export tumbled, and more risk averse traders opted for the safety of Canada’s counterpart currency in the United States. The Canadian dollar is facing one of the sharpest losing streaks in months during the past two days as appeal for the commodity and stocks linked currency was affected in a rather pessimism day in currency markets. … “Canadian Dollar Deepens Losing Streak”
Yen Gains on Bearish Stocks Session
The Japanese currency was one of the biggest winners together with the U.S. dollar in trading markets this Thursday, as stocks fell globally, declining appeal for higher-yielding currencies as risk aversion rose, favoring the safety profile of the yen, considered the top refuge currency in days of pessimism. In a very risk averse session today all emergent market currencies backed down massively versus the Japanese yen that actually rose versus all 16 … “Yen Gains on Bearish Stocks Session”
Aussie and Kiwi out of range
While most currencies are stuck in the same range in the past two weeks, the AUD/USD and NZD/USD are out of these ranges – to the downside. The sun currently doesn’t shine on the high yielding currencies of the south pacific. AUD/USD out of range – click to enlarge. Yesterday I described how the EUR/USD … “Aussie and Kiwi out of range”
Range Trading – Frustration and Opportunities
This week’s forex trading is quite boring – most currency pairs trade in specific range. While this trade pattern isn’t exciting, it offers opportunities to run up and down the range. Could this range signal that the long-term fall of the dollar is about to change? EUR/USD, the world’s favorite pair, is trading between 1.48 … “Range Trading – Frustration and Opportunities”
Mexican Peso Advances as Rates Won’t Be Cut
The Mexican peso had a positive performance today versus the greenback as interest rates are unlikely to have further cuts, attracting investors to inject capital in the North American country. The peso benefited today from a rally in crude oil rates, that crossed the $80 line per barrel in New York, raising appeal for the Mexican currency since the country is one of the main fossil energy suppliers for the United States. USD/MXN traded at 12.98 … “Mexican Peso Advances as Rates Won’t Be Cut”
Gold, Oil Force Canadian Dollar Up
The Canadian dollar continued to trade high maintaining yesterday’s gains versus the U.S. dollar as gold reached a record high, raising attractiveness for Canadian commodities. The loonie, as the Canadian dollar is often referred to, continued to trade near a four week high versus its U.S. counterpart as the oil, one of the main Canadian exports to the U.S. climbed beyond $80 a barrel, in a day that U.S. posted weak construction industry data. USD/CAD … “Gold, Oil Force Canadian Dollar Up”
Dollar Down on Interest Rates Speculations
The dollar fell today versus several higher-yielding currencies after speculations from Fed key-members suggested that interest rates in the country may remain at a record low for an extended period, declining attractiveness for the U.S. currency since investors can opt for higher returns in assets overseas. After Federal Reserve Bank of St. Louis President James Bullard affirmed that interest rates in the United States may not start to be hiked … “Dollar Down on Interest Rates Speculations”
Pound Down on Policy Makers Disagreement
The British currency went down today versus the euro and the dollar as a statement regarding a policy makers meeting yesterday indicated divergent opinions concerning the asset-purchase program, declining attractiveness for the pound as the central bank has not found a point of consensus towards the future of the U.K.’s monetary policy. After several days gaining versus major currencies, the pound’s rally was halted today after Bank of England‘s meeting minutes discussions were published, … “Pound Down on Policy Makers Disagreement”
Swedish Krona Posts Biggest Fall in 2 Weeks
After the IMF statements regarding a slower than expected global economic recovery, the Swedish krona posted an intense decline versus the U.S. dollar, as traders opted for safety in a rather turbulent trading session. Several worse than expected U.S. economic reports were published today, declining attractiveness for currencies like the Swedish krona, as the country is relying on a faster economic recovery to save its banking system, which is highly attached … “Swedish Krona Posts Biggest Fall in 2 Weeks”