The dollar started this week losing versus the euro and the pound after speculations that Group of 7 central bankers would provide statements supporting the dollar were not confirmed, erasing last week gains and setting the dollar to a bearish scenario again. Last week was marked by a good U.S. dollar performance as a G-7 meeting was expect to stress the importance of a strong greenback, as it could provide solid competitiveness for exporters around … “Dollar Loses Slightly on G-7 Comments”
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Will the Dollar Rebound Before 2009 Ends?
The dollar had one of the best weekly performance in months gaining versus most of the 16 main traded currencies as the Group of 7 suggested that a strong greenback is important to guarantee a fast and sustainable world economic recovery. Multiple finance ministers and central bank policy makers from the wealthiest nations in the world affirmed in a G-7 meeting which took place in Istanbul that a strong dollar is essential for the stabilization of the world economy, providing … “Will the Dollar Rebound Before 2009 Ends?”
Oil Rebound Pushes Canadian Dollar Up
The Canadian currency, which was losing earlier versus the U.S. dollar on pessimism before the G-7 meeting, managed to revert a losing trend as the crude oil rates surged beyond $70 a barrel, raising attractiveness for the loonie. The loonie has managed to end another week gaining versus its U.S. counterpart, since it erased early losses today backed by a rally in the crude oil rates, which are one of the main raw … “Oil Rebound Pushes Canadian Dollar Up”
Chilean Peso Down on U.S. Economy Outlook
The United States is one of the main destination for Chilean commodity exports, and negative reports towards the end of this week coming from the U.S. affected negatively the South American currency performance. The Chilean peso lost today versus most of the 16 main traded currencies as stocks and commodities declined after more than expected job cuts occurred in the United States, raising doubts on the North American economy resilience and the global slump length … “Chilean Peso Down on U.S. Economy Outlook”
Pounds Ends Another Week Down on Crisis Concerns
The pound has been one of the most affected currencies by the credit crunch last year and during the past three weeks it suffered another substantial decline as the U.K. economic scenario continues to deteriorate and this Friday risk aversion is high again pushing investors towards safety. Today the British currency found obstacles to climb in both domestic and international economy scenarios, as risk aversion rose globally. Nationwide Building Society … “Pounds Ends Another Week Down on Crisis Concerns”
Dollar Climbs on Grim Economic Forecasts
The dollar kept its previous days trend gaining versus the euro and high-yielding currencies as forecasts suggest that loan defaults and unemployment rates will keep deteriorating, raising risk aversion and adding attractiveness for the safe profile of the greenback. An expected rise in unemployment figures, and a still very complicated credit situation in the United States rose concerns among traders regarding the economic recovery in North America and consequently in a global dimension, slashing earlier gains … “Dollar Climbs on Grim Economic Forecasts”
Non-Farm Payrolls and the Pound
The monthly Non-Farm Payrolls makes the markets go crazy. Even in this madness, some swing patterns can be identified and handled. While most currencies can swing back and forth, GBP/USD might fall and not come back. 1. But the rumor, sell the fact: This known traders’ saying also works in the forex markets. In some cases, … “Non-Farm Payrolls and the Pound”
Brazil’s Real Drops From Year High on U.S. Jobless Claims
The Brazilian currency touched a one-year high versus the dollar and the pound this week but was unable to continue its rally as U.S. jobless claims came worse than what economists expected, decreasing appeal for emergent market high-yielding currencies. The Brazilian real is an extremely commodity-linked currency, and today, a report indicated an increase in jobless claims in the U.S., affecting negatively equities and commodities markets worldwide, making traders to purchase safer assets … “Brazil’s Real Drops From Year High on U.S. Jobless Claims”
Mexican Peso Down on Commodities and U.S. Unemployment
This Thursday was marked by a weak performance for the Mexican currency as the crude oil, one of the main Mexican exports to the U.S. declined further, and jobless claims in the U.S. came with worse-than-expected figures. The United States is the country of destination for 80% of Mexican export products, and as unemployed people applied for benefits last week more than forecasts suggested, the Mexican peso was influenced negatively,. Crude oil rates also influenced negatively … “Mexican Peso Down on Commodities and U.S. Unemployment”
Pound Rises on IMF U.K. Outlook
The pound managed to pare early losses versus the euro and the dollar after the IMF affirmed that the United Kingdom will grow more than previously announced for the next year, adding confidence for the British Isles economies. Bank of England Governor Mervyn King set the pound to the weakest level in months versus the euro and the dollar after affirming in a newspaper interview that the current weakness of U.K.’s currency is helpful at the moment since it helps … “Pound Rises on IMF U.K. Outlook”