The New Zealand dollar is heading to the lowest rate in eight weeks against the yen and losing against the greenback, as global risk aversion is damping demand for the kiwis high-yield profile. The New Zealand dollar started another week with a negative performance as pessimism is still spreading in equities markets locally and world wide, damping demand for the kiwi, which often experiences falls as risk aversion grows among traders. A report in New Zealand added for the pessimism towards … “New Zealand Dollar Weakens on Faltering Confidence”
Author: admin_mm
Pound Declines on Weakening British Financial System
The British pound started this week losing against currencies like the euro and the dollar as speculations that British banks may announce further losses rose, suggesting that the worst moments of the recession are still to come. The Sunday Times, one of the most prestigious U.K. newspapers affirmed yesterday that Lloyds Banking Group Plc, one of the giants of the British financial sector, would be in a difficult situation and that it may post further losses, … “Pound Declines on Weakening British Financial System”
U.S. Dollar Rallies Against All Majors on Risk Aversion Wave
The greenback, as the dollar is often referred to, climbed versus virtually all of the 16 most traded currencies, as unfavorable economic reports worldwide brought risk aversion up among traders this week, favoring the low-yielding safety profile of the North American currency. Since last week’s employment report in the U.S. showing worse than expected numbers, risk aversion has returned to markets, and this week, multiple news coming from … “U.S. Dollar Rallies Against All Majors on Risk Aversion Wave”
Canadian Dollar Continues Drop as Commodities Price Falter
The Canadian currency ended its sixth week of losses against its U.S. counterpart as commodities and stocks dropped moved by concerns that the global slump will be longer and deeper than previously predicted. The Canadian currency, one of the most linked to stock and commodity prices, lost against the greenback this week as the crude oil dropped the most since January, and considering that raw materials account for more than 50 percent of the Canadian … “Canadian Dollar Continues Drop as Commodities Price Falter”
Chilean Peso Declines as Interest Rates Reach Record Low
The Chilean peso hit the weakest level in three weeks as the national central bank slashed the benchmark interest rates to a record low for the South American country. The Chilean central bank set the national interest rates to a record low of 0.5 percent, from a previous level of 0.75, in order to stimulate the emergent South American economy which has also suffered the consequences of the global slump. The copper, one of the main Chilean commodity exports, has also … “Chilean Peso Declines as Interest Rates Reach Record Low”
Yen Rallies on Global Slump Insistent Concerns
The yen had one of the best performing days this week as rising concerns that the global slump will be longer than previously expected plagued markets worldwide with high levels of risk aversion, bringing investors to bet on the safety of the Japanese currency. The yen rose against the greenback after U.S. Vice President Joe Biden affirmed that government measures to stimulate the economy may take up to 18 months to work, immediately raising insecurity … “Yen Rallies on Global Slump Insistent Concerns”
Euro Falls as Eastern European Economies Shrink
The euro is posting its worst weekly performance against the yen in two months and losing against several major currencies as more than 10 Eastern European nations will need loans to rescue their economies from the rising recession in the region. The Eurozone currency weakened against virtually all of the 16 most traded currencies after an article posted in the German newspaper Handelsblatt affirmed that the International Monetary Fund would be already discussing aid plans … “Euro Falls as Eastern European Economies Shrink”
Polish Zloty Climbs as Euro Entry May Start This Year
The Polish zloty, which have severely devalued versus the Eurozone currency when the global slump struck Europe last year, rose today as Polish government affirmed that the euro entry process may start this year for the Eastern European Nation. The Polish Finance Minister Jacek Rostowski stated today in an interview given to Gazeta Prawna that the zloty may be stable enough during this year’s second semester to start … “Polish Zloty Climbs as Euro Entry May Start This Year”
Brazilian Real Rebounds on Commodities
The Brazilian high-yielding currency, declined for almost a week as concerns regarding the global rose, but today it rebounded as commodities rallied, spurring demand for the South American country’s currency. The Brazilian real had favorable news that supported the currency to post its first gains versus all majors in a week, as car sales in China rose the most since 2006, fueling demand for high-yielding assets. Metallic commodities rebounded today, mainly the copper, … “Brazilian Real Rebounds on Commodities”
Australian Dollar Rises on Better-than-Expected Employment Report
The Australian currency rose against the yen from a seven-week low after a report yesterday indicated that unemployment figures in Australia rose less than forecast, spurring demand for the Aussie, which had lost against all majors since last weeks risk aversion wave. After losing more than 3 percent yesterday versus the yen and the greenback, the Australian dollar initiated a rebound influenced by domestic and international news. A report yesterday in Australia showed … “Australian Dollar Rises on Better-than-Expected Employment Report”