The Canadian dollar was traded today at the highest level in this week as stocks and commodities continued to have a positive performance today, helping the loonie to remain strong versus the greenback. After a negative beginning of the week for the Canadian dollar with rising risk aversion and a faltering crude oil, the loonie rebounded as optimism reappeared today mainly in the European session, as countries like Germany and France unexpectedly grew in the second quarter, pushing stocks and commodities up … “Canadian Dollar Strengthens as Stocks Remain Bullish”
Author: admin_mm
Pound Climbs on Renewed European Optimism
The pound climbed today versus the yen and the dollar, as optimistic reports in Europe brought worldwide traders to bet in a hastening economic recovery in the region, damping demand for safer assets and increasing risk appetite. The pound benefited today from a report in Germany indicating an unexpected growth of 0.3 from the first quarter, being the same figures also perceived in France, while forecasts indicated a contraction of 0.3 percent for both countries. The pound also benefited today … “Pound Climbs on Renewed European Optimism”
Euro Continues Rally on Eurozone Members Growth
The euro gained versus the dollar and other several currencies today as countries like Germany and France indicated a unexpected growth for the previous quarter, surprising traders and analysts, raising the positive sentiment towards the Eurozone currency. A perfect scenario for a bullish pattern in the euro-dollar chart was set today as the German and French economies grew in the second quarter, as the Federal Reserve affirmed yesterday that interest rates in the United States shall remain low for an extended period … “Euro Continues Rally on Eurozone Members Growth”
Early Recovery in Europe?
Europe has suffered deeply from the recession, and didn’t seem to be getting out of it soon. Today’s surprising GDP figures showed that the old continent’s largest economies have shown growth in the second quarter. EUR/USD made an initial small rise, but these surprising figures are very important for the markets. Prelim GDP was leaked … “Early Recovery in Europe?”
Crude Oil Reverts Canadian Dollar Falling Trend
After losing for five consecutive days, the Canadian currency rebounded versus its U.S. counterpart as stocks in Toronto climbed and the crude oil rebounded followed by most of the main traded commodities. The Canadian dollar, which reached a 10-month high versus the greenback during the past week, returned to more reasonable rates as pessimism came back to equities markets following the end of the past week. Today, the Canadian trade deficit diminished more than forecasts, … “Crude Oil Reverts Canadian Dollar Falling Trend”
Dollar Slides Before Fed Meeting
The dollar, which rebounded since last Friday as economic reports did not reflect a favorable situation in Asia and Europe, declined slightly versus the euro today, before tomorrow’s Fed Meeting. The Federal Reserve is due to meet to tomorrow and will probably declare that benchmark interest rates in the United States will remain low, affecting the greenback outlook today versus multiple main traded currencies, as low interest rates are … “Dollar Slides Before Fed Meeting”
Inflation Figures Affect Pound Performance
The pound started another day losing versus the dollar and the euro in the European session as the Bank of England affirmed that the 2 percent inflation target won’t be met, raising concerns regarding the British economy’s health. The yen was one of the biggest winners today versus the pound, after Bank of England Governor Mervyn King stated that it will take time for the Great Britain banking sector to recover from the current delicate … “Inflation Figures Affect Pound Performance”
Yen Continues Rally on Chinese Minister Statement
The yen is being traded at the highest level in August as Asian stocks declined again, pushing the Japanese currency up for a third day in a row, since bearish markets rise attractiveness for the safe profile of the yen. The best performing currency this week among the 16 most traded is the yen, which is benefiting from a new wave of risk aversion that made traders to purchase safer assets. Today, China’s Commerce Minister … “Yen Continues Rally on Chinese Minister Statement”
Polish Zloty Down as Rally May Halt Economic Growth
The Polish currency, which was climbing systematically during the previous two months as signs of economic recovery attracted traders to this emergent European Union economy, had a sharp decline this week as the current currency rates may affect the economic recovery in the nation. Poland’s economy was the best performer among the 10 eastern European union members in the first quart of this year, after the national government cut taxes to stimulate the economy … “Polish Zloty Down as Rally May Halt Economic Growth”
Brazilian Real Declines Further on China’s Industrial Output
The Brazilian real is having its worst week since the beginning of July as pessimistic news rose risk aversion among traders, damping demand for the Brazilian currency high-yielding profile. Today several reports in China brought equities and commodities markets down as exports and loan conditions deteriorated in the Asian country, raising concerns that one of the key-world economies may face an extended period of recession, affecting emergent market currencies like the South … “Brazilian Real Declines Further on China’s Industrial Output”