After touching the highest level in 2009 as commodities and stocks climbed and the greenback lost appeal yesterday, the loonie did not manage to sustain its levels and dropped as the crude oil declined today. Yesterday was marked by a raise in risk appetite as interest rates were increased in Australia, providing support for high-yielding currencies like the Canadian dollar to climb sharply hitting the highest levels this year, but today, investors considered yesterday’s … “Canadian Dollar Falls from Record High on Market Confusion”
Author: admin_mm
AUD/USD Bounced At Resistance
The rate hike by the RBA fueled the Aussie’s engine for further gains. These gains came to halt at the 0.8950 resistance line. The surprising decision by Glenn Stevens on Tuesday morning sent the Aussie above last week’s peaks. Australia was the first country in the West to raise interest rates. They went from 3% … “AUD/USD Bounced At Resistance”
Yen Climbs on Finance Minister Statements
The yen managed to climb versus several main traded currencies and hit the highest level versus the U.S. dollar after Japanese policy makers affirmed that a strong currency will not impact the country’s economy negatively. The Japanese currency gained confidence today climbing versus the greenback and the euro after the nation’s Finance Minister Hirohisa Fujii affirmed that the yen is currently fluctuating withing comfortable parameters, helping investors to purchase … “Yen Climbs on Finance Minister Statements”
Brazilian Real Extends Gains on Risk Apettite
The Brazilian real continue to set new record highs for 2009 today as risk appetite emerged influenced by a Australian central bank decision to raise its benchmark interest rates, fact which was interpreted as an evident sign of economic improvement globally. The Brazilian currency strengthened beyond $1.75 today versus the U.S. dollar, rate which was only perceived last year prior the global slump worst moments in the second semester … “Brazilian Real Extends Gains on Risk Apettite”
Canadian Dollar Hits Record High on Economic Outlook
Speculations suggesting that the world economic conditions will improve faster than previously imagined, helped stocks and commodities to rally today, consequently helping the Canadian dollar to grow versus its U.S. counterpart. The Canadian dollar benefited today of a interest rate hike in Australia signaling that the world gradually returns to economic stabilization as the Australian central bank attitude was celebrated by an increase in risk appetite in trading markets worldwide, favoring … “Canadian Dollar Hits Record High on Economic Outlook”
Which country will be the next to raise rates?
Australia was the first country to raise the interest rates after the great rate cuts that followed the global crisis. Which country will follow? Australian strength The RBA, Australia’s central bank, was the first to raise the interest rates. Glenn Stevens surprised the markets increased the interest rate from 3% to 3.25%. Australia already had … “Which country will be the next to raise rates?”
Australian Dollar: First Currency to Rally on Interest Rates Hike
Australia was the first country to increase its borrowing costs after the global slump impacted the wealthiest nations around the globe setting most benchmark interest rates to record lows. The Australian dollar benefited from this unexpectedly positive scenario surging versus all 6 major traded currencies. A part from the Reserve Bank of Australia interest rates hike that helped the Aussie to climb to its highest level in 14 months … “Australian Dollar: First Currency to Rally on Interest Rates Hike”
Record Low Manufacturing Pushes Pound Down
The pound was once again hit by negative domestic data which forced the British currency down versus the euro, Swiss franc as manufacturing in the country declined to the lowest level in more than a decade, raising concerns about the British economic future. The British pound lost today specially against the euro after a domestic report in the country indicated that manufacturing production slid much beyond forecasts and to the lowest level since 1992, … “Record Low Manufacturing Pushes Pound Down”
Brazilian Currency Climbs After G-7 Meeting
After speculations set the real down last week versus the greenback before the G-7 meeting, now the outcome of world wealthiest nations discussions provided support for higher yielding currencies to grow, favoring the real in foreign-exchange markets. The Brazilian real touched a one-year high versus the U.S. dollar and gained versus most of the 16 main traded currencies after a G-7 meeting where central bankers downgraded the importance of a strong greenback to provide support … “Brazilian Currency Climbs After G-7 Meeting”
G-7 Comments Set Australian Dollar High
The Australian dollar posted today its first gains after a rather bearish trend last week as the Group of 7 did not confirm speculations which suggested it would stress on the importance of a strong U.S. dollar to stabilize the world economy, favoring again high-yielding currencies. The Australian dollar has been one of the best performing currencies this year as risk appetite surged with the first signs of economic improvement in multiple parts … “G-7 Comments Set Australian Dollar High”