The U.S. dollar pared most of this week’s losses versus its Canadian counterpart as a report today indicated that the number of job cuts in Canada was higher than what economists predicted. After trading at a 10-month high in the beginning of the week, the Canadian dollar reverted its winning streak and declined even further today as a government report indicated that employment figures shrank much beyond economists forecasts, making the loonie to be … “Rising Unemployment Affects Canada’s Dollar Performance”
Author: admin_mm
Yen Gains on Renewed Crisis Concerns
The yen gained versus several currencies like the euro and the pound as equities markets are ending the week with a rather negative performance, as banks posted losses today. The Royal Bank of Scotland Plc posted its results for the first half of the current year, indicating unexpected losses, which influenced banking shares in stock markets today, creating a negative sentiment that brought investors to the safety of the Japanese currency, which always benefits from … “Yen Gains on Renewed Crisis Concerns”
Canadian Dollar Down as Oil Declines
The Canadian dollar had a second day of negative performance as unemployment in the nation is expected to grow further, damping demand for the loonie. After several days breaking records versus its U.S. counterpart, the perfect scenario for a reversal in the Canadian dollar trend occurred today, as stocks and commodities fell, influencing negatively the loonie’s performance. Reports due tomorrow are likely to indicated improved employed conditions in the U.S., speculations which helped the greenback to pare … “Canadian Dollar Down as Oil Declines”
Brazilian Real Falls on Commodities Decline
Brazil’s real, the best performing among the 16 most traded currencies had the most significant fall in more than a month as commodities declined today, pushing investors away from the South American currency. A number of important Brazilian exports had a decline in their prices today as U.S. services industries contracted, forcing virtually all commodities down today. Brazil is one of the biggest global supplies for grain and metallic commodities, and today’s … “Brazilian Real Falls on Commodities Decline”
Pound Continues High on Real Estate Market Forecast
The pound is trading near a 9-month high versus the U.S. dollar as multiple news brought traders to the renewed attractive profile of the British currency, which is expecting a rebound in the U.K.’s housing market before the end of the year. The pound is trading high versus both the euro and the U.S. dollar as renewed sentiment for the British economy attracted investors to purchase pound-priced assets, pushing the national currency to the highest levels in months versus its main … “Pound Continues High on Real Estate Market Forecast”
Australian Dollar Climbs on Employment Data
The Australian dollar is being traded today near a 10-month high as job figures in the country came unexpectedly positive, adding confidence that the South Pacific region will be one of the first global economic areas to find its way out of recession. The forecasts regarding the Australian job market pointed to a consistent decline in the number of employed people, which were proved to be false, as today, a national employment report indicated a rise … “Australian Dollar Climbs on Employment Data”
Brazilian Real Drops After U.S. Reports
After a report in the U.S. indicating that services industries contracted at a faster pace last month, the Brazilian currency witnessed its first decline in over a week, as concerns regarding the global economy affect emergent markets currencies. The Brazilian real posted its first losses in a week, after being the best performing currency among the 16 most traded in foreign-exchange markets. In the United States, further job cuts and a shrinking services industry brought back … “Brazilian Real Drops After U.S. Reports”
Mexican Peso Climbs on Credit Rating
The Mexican Peso climbed to a 2-month high after Moody’s stated that the country has a stable outlook for investments, erasing speculations that the country would be downgraded for the first time since 1995. The Mexican peso, together with multiple other emergent-market currencies, is gaining versus the U.S. dollar during the last weeks, and today, Moodyâs Investors Service affirmed that the current country investment profile is stable, lifting doubts … “Mexican Peso Climbs on Credit Rating”
Pound Continues Rally Versus Euro and Dollar
The pound is gaining again versus the euro and the dollar as services industry grew and U.K manufacturing jump beyond expectations in July, pushing the pound to the highest level in 9 months. The pound sterling may be climbing its way to pre-crisis levels as positive news for the British economy appeared this week after months of consecutive shrinking numbers and political crisis in the British Isles. Today the pound is trading at the highest level in 9 months … “Pound Continues Rally Versus Euro and Dollar”
Finance Minister Halts Canadian Dollar Rally
The Canadian dollar, which has been gaining heavily versus several most traded currencies, finally stopped its rally after the national Finance Minister affirmed that eventual measures may be taken to damp the rising demand for the loonie, which is already jeopardizing Canadian exports. The Canadian currency was one of the best performing ones since the world started to post more solid signs of economic recovery last month, … “Finance Minister Halts Canadian Dollar Rally”