The Polish zloty, one of the best performers among the Eastern EU members currencies this year had its rally halted today as the national bank indicated that a strong currency may jeopardize the economic recovery in one of the biggest European nations. Today, the zloty was influenced by a national central bank policy maker, Jan Czekaj, who affirmed that if the Polish currency climbs further, the economic growth of Poland will … “Polish Zloty Declines on Central Bank Concerns”
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Will the Pound Trade at 1-to-1 Versus the Euro?
The pound continued to decline today versus most of the 16 main traded currencies on concerns that Lloyds Plc financial conditions are far from being sustainable, increasing speculations that the British banking sector may delay an economic recovery in the country. The U.S. dollar touched a two-weeks high versus the pound as the Lloyds Banking Group Plc affirmed that it may exit a government program to insure other positions, leaving room … “Will the Pound Trade at 1-to-1 Versus the Euro?”
Mexican Peso Decline on U.S. Jobless Claims
After rallying for several days in a row together with most emergent market currencies as optimism rose globally, the Mexican peso had its first decline versus majors as jobless claims are still on the rise in U.S., raising concerns of the employment conditions in the wealthiest country of the world. The Mexican currency had its first decline in three days after the government of Mexico discussed 2010’s budget and jobless claims rose in the U.S., impacting the peso … “Mexican Peso Decline on U.S. Jobless Claims”
Canadian Dollar Raise National Bank Concerns
The Canadian dollar, which traded near the highest level since October last year as risk appetite is once again strong in commodities and equities markets, may influence negatively the North American national economic recovery, raising concerns about the loonie’s rally in the national central bank. This year, the Bank of Canada already affirmed that a strong loonie could affect negatively the Canadian economy’s performance and that measures to stop a rally … “Canadian Dollar Raise National Bank Concerns”
Crude Oil Provides Support for Ruble Rally
The Russian currency benefited from a new wave of confidence among traders that forced commodities rates up, helping Russian assets to be more attractive in global markets, consequently influencing positively the rates for the ruble. After Bank of Russia lowered interest rates in the country, the number of investors looking for funding through lends in the country increased, providing support for the ruble to gain versus most of 16 main traded currencies this week, as emergent … “Crude Oil Provides Support for Ruble Rally”
Dollar Continues Downtrend on Economic Optimism
After hitting 2009 record lows versus several currencies of different profiles like the Australian dollar, Brazilian real and Euro, the dollar did not manage to rebound mainly versus the latter, since several optimistic reports suggested that economic conditions in Europe are improving. The Dollar Index declined today to the lowest level in 12 months, as investors expect that the real estate market in the United States will improve even further, … “Dollar Continues Downtrend on Economic Optimism”
Brazilian Real Extends Record on Economic Recovery
The Brazilian real had another day of gains versus most of 16 main traded currencies and extended its 2009 record versus the greenback as improved economic data domestically and globally brought investors to inject money in South America’s wealthiest economy. The Brazilian real reached the highest rate versus the British pound in 10 years as a wave of optimism fueled by positive economic reports in the U.S. helped traders to bet in the Brazilian economy, as the United States … “Brazilian Real Extends Record on Economic Recovery”
Chilean Peso Gains on U.S. Positive Reports
The Chilean peso was one of the emergent markets currencies that benefited from the latest U.S. reports which fueled high-yielding currencies rally and increased traders’ confidence to purchase riskier assets in economic regions like Latin America and the South Pacific. Several reports led speculators to believe that the U.S. economy is already in a recovery path, helping the Chilean peso to grow significantly, since the price of copper, the main Chilean commodity export … “Chilean Peso Gains on U.S. Positive Reports”
Record Unemployment Affects British Pound
After a report indicating the highest unemployment rate in more than a decade in the United Kingdom, the pound lost versus most of the 16 main traded currencies, as the British economy has been one of the most weakened in the region, shunning investors from assets in Great Britain. Even if the global economy has been showing sings of improvement in the U.K. and globally, unemployment rates are one of the most affected figures by the new adjustments of the economy, … “Record Unemployment Affects British Pound”
Will Global Optimism Affect Dollar Until 2010?
The U.S. dollar traded today in the lowest level versus the European common currency as solid evidences of economic recovery continued to appear in North America and worldwide, spurring demand for yielding and weighing on the greenback outlook. Oddly enough, another report to be published today with expected positive figures is already influencing the U.S. currency negatively, as evidences of economic recovery are being interpreted by traders as an increase in confidence to purchase riskier assets, … “Will Global Optimism Affect Dollar Until 2010?”