The pound gained today after hitting several record lows this week specially versus the euro, as speculations indicate that the current central bank asset-purchase program may be suspended, finally providing support for the British currency to gain in foreign-exchange markets. After speculations suggested that the Bank of England is likely to interrupt its asset purchase program due to undisclosed reasons in an interview given by BOE Markets Director Paul … “Pound Climbs On Asset-Purchase Program Speculations”
Author: admin_mm
Comeback of the Pound (2)
The British Pound made a huge comeback and is winning all across the board. Today, the Pound isn’t left behind. Stopping the QE program is one reason, but not the only one. What else is behind this comeback? Why makes this move meaningfully? Here are some answers: Updated 11:42 GMT. GBP/USD made 550 pips in … “Comeback of the Pound (2)”
Hungarian Forint Up on Chinese Optimism
After Chinese exports shrank at a slower pace according to a report posted today, the Hungarian forint found support in optimism regarding the global economic recovery to climb versus the euro, the U.S. dollar, and several other currencies. Hungary was one of the most affected countries by the global slump, having to recur to the International Monetary Fund to adjust its national accounts, but as the global economic posts positive reports, today indicating a less negative … “Hungarian Forint Up on Chinese Optimism”
Brazilian Real Extends Gains on Stocks
The Brazilian main stock exchange continued to attract investors looking for yield as risk appetite grows globally, attracting investors to emergent countries and pushing the real to a new record high in 2009 versus several major currencies. Brazilian companies debt and share sales helped a significant amount of foreign capital to be injected in the Brazilian financial market, providing support for the real to extend this week’s rally which already set the real to the highest levels … “Brazilian Real Extends Gains on Stocks”
South African Rand Climbs on Metallic Commodities
The South African currency witnessed a rally this week that set the rand to the highest rate versus the U.S. dollar after a decreased appeal for the U.S. currency combined with an increase in rates of metallic commodities provided support for the rand to outperform a number of currencies. South Africa is today, the leading exporter of precious metallic commodities in the world, and as the gold is reaching record highs, platinum is climbing and other commodities are gaining value … “South African Rand Climbs on Metallic Commodities”
Dollar Further Down on Interest Rate Expectations
After Federal Reserve policy makers affirmations suggesting that interest rates will remain low for a long period of time in the United States, the greenback declined to the lowest levels in 2009 versus the euro, and also lost versus most of the main traded currencies. The U.S. currency declined today after several positive news influenced traders towards higher-yielding options after Chinese exports shrank less than forecasts and Intel Corp. posted … “Dollar Further Down on Interest Rate Expectations”
EUR/USD – Breakout or Not?
EUR/USD climbed above the 1.4844 peak that it reached three weeks ago but didn’t get far away. 1.4908, just above it, was a peak at the beginning of the year. Did EUR/USD make a breakout and is doing it slowly? Or did it just get closer to the resistance line, where it can bounce back … “EUR/USD – Breakout or Not?”
Brazilian Real Climbs on Growth Forecast
Both domestic and international economic scenario provided support for the Brazilian currency to climb against the greenback and several other majors, as revised economic growth for the South American nation came with positive figures. Brazil currently has one of the highest interest rates in the world among the main global economies and these levels are likely to climb even further next year if growth in the country will be confirmed as it has been … “Brazilian Real Climbs on Growth Forecast”
Canadian Dollar Near 1-to-1 With Greenback
The Canadian dollar benefited from another day of increased risk appetite to gain versus most of the 16 main traded currencies and trade near parity with its U.S. counterpart. Crude oil is providing support for the Canadian dollar to become one of the best trading currencies during the this October as the main Canadian export is rallying, helping the loonie towards parity versus the U.S. dollar, which, according to some analysts, is … “Canadian Dollar Near 1-to-1 With Greenback”
New Zealand Performs Positively on Retail Sales
This Tuesday, a report posted in New Zealand surprised economists’ forecasts as retail sales in the South Pacific country came with better-than-expected growth, adding optimism to the already attractive kiwi, one of the best performing currencies in foreign-exchange markets in 2009. The kiwi climbed today versus several majors like the pound and the yen, and touched a one-year high versus the greenback after retail sales expanded more than doubled of what forecasts suggested, a strong … “New Zealand Performs Positively on Retail Sales”