The dollar gained today versus most of the main traded currencies as concerns that industrial capacity in China will be curbed and a disappointing climb in U.S. durable good orders spurred demand for safety, which is currently favoring the greenback. This week has been positive for the U.S. dollar mainly versus the pound, which is facing domestic economic problems as the national central bank is struggling to end the current recession in the country. … “Dollar Gains on China Industrial Concerns”
Author: admin_mm
Pound Declines on U.K. Economic Figures
The pound posted another day of losses versus most of the 16 main traded currencies as the economic situation in Great Britain remains behind most of the other main global economies, decreasing attractiveness for the British currency. Today’s published data and tomorrow’s forecasts are once again impacting the pound which is posting the sixth consecutive day of losses versus the euro, since U.K.’s economic outlook is currently far more negative than … “Pound Declines on U.K. Economic Figures”
German Business Sentiment Fuels Euro Rally
After a rather mediocre start in the beginning of this week the euro had a positive performance today as German business sentiment rose again suggesting that the Eurozone member countries are finding its path out of recession. The German Ifo business climate index climbed beyond economists expectations this morning as confidence is rising towards the country’s economy, fact which brought the euro to the highest level in almost 3 months versus … “German Business Sentiment Fuels Euro Rally”
Canadian Dollar Declines on Government Statement
The Canadian dollar declined from the highest level in 2 weeks today as commodities slid on renewed pessimism and a central bank official’s statement suggested that the current strong loonie may jeopardize the national economic growth. After a negative day for stock markets mainly driven by pessimism towards the North American real estate market, the crude oil, one of the main Canadian exports, weakened, pushing the loonie down from a 10-day high. … “Canadian Dollar Declines on Government Statement”
Polish Retail Sales Fuel Zloty’s Rally
The Polish currency touched today its highest level in seven months versus the euro after a retail sales national report suggested that the country may be finding its way out of recession. Retail sales published today in Poland indicated positive figures beyond analysts expectations, providing support for the Polish currency to climb versus the euro and the dollar in foreign-exchange markets as Poland is proving itself one of the most resilient countries … “Polish Retail Sales Fuel Zloty’s Rally”
Yen Gains on Stocks Corrective Movement
The Japanese currency gained today in Asia versus the South Korean won and in Europe versus the pound and the euro as stocks had a negative performance today after 5 consecutive days winning on renewed optimism towards the global economic situation. Virtually all of the 16 most traded currencies slid versus the yen today as equities markets declined today on Chinese Premier Wen Jiabao statement regarding the future of the global economy, which is still … “Yen Gains on Stocks Corrective Movement”
Pound Down on Chinese Comments
The U.K. currency posted losses today versus the euro and the greenback as stocks declined in the country and the Chinese Premier Wen Jiabao affirmed that the world economy is still facing a period of uncertainty, which brought risk aversion back in trading markets. A reversal trend in equities markets pushed the British currency down and the MSCI World Index lost consistently mainly influenced by Asian stocks, who had a negative day after Chinese … “Pound Down on Chinese Comments”
Crude Oil Fuels Russian Ruble Rally
The Russian currency gained versus the U.S. dollar and several other currencies as the crude oil climbed again today, fueled by optimism regarding the world economic recovery. After Federal Reserve Chairman Ben Bernanke affirmed last Friday that the world is finding its path out of recession, the crude oil, one of the main Russian exports, traded at a 10-month high, providing support for Russian equities markets and currency to climb versus … “Crude Oil Fuels Russian Ruble Rally”
Mexican Peso Falls on Overpriced Speculations
After climbing for several weeks in a row, today the Mexican peso declined versus the greenback, on speculations that the current rates would be too high, attracting investors towards the U.S. The Mexican peso hit the highest rate last week since November, as the United States and several European Union countries published optimist economic reports, which helped the peso the gain since the United States is the main destination for its exports, but … “Mexican Peso Falls on Overpriced Speculations”
Global Optimism Continues to Affect Yen’s Performance
After losing massively towards the end of the past week due to a wave of renewed risk appetite, the Japanese currency was unable to pare its losses as optimism remains strong in trading markets worldwide, damping demand for the safety profile of the yen. The yen lost today as markets in Asia operated influenced by Federal Reserve Chairman Ben Bernanke‘s statement last Friday suggesting that the world is likely to revive its economic growing … “Global Optimism Continues to Affect Yen’s Performance”