The Japanese yen, which was rallying intensively against all majors after a wave of risk aversion struck markets last week, dropped today as Japanese importers sold the currency led by speculations that after this week’s rally, the yen would be overpriced. The yen lost today versus all 16 most traded currencies after a Japanese government official affirmed that the current volatility and extreme valuation of the national currency … “Yen Drops from Four-Month High on Overprice Speculations”
Author: admin_mm
Canadian Dollar Weakens as Crude Oils Decreases
The Canadian dollar slashed its previous gains as the crude oil fell for a sixth day in a row, on concerns that a longer global slump will damp demand for energy in the U.S., the main destination for Canada’s commodity exportation. The Canadian currency reached a seven-week low against its U.S. counterpart as its attractiveness declined significantly on concerns that the global slump will be longer than expected, provoking a new wave of pessimism which brought … “Canadian Dollar Weakens as Crude Oils Decreases”
Chilean Peso Drops as Copper Declines
Chile, one of the world biggest copper exporters, is witnessing its currency to fall against all majors as the price of the metallic commodity declined due to a new wave of pessimism, which may decrease demand for metals. The Chilean peso posted crescent gains until last week, as optimism and a Chilean central bank dollar selling program caused the currency to rally against the euro and the greenback. After a negative U.S. jobs report last week, … “Chilean Peso Drops as Copper Declines”
Ruble Drops as Crude Oil Rates Continue Decline
Russia, the worlds leading energy supplier and main oil exporter to Europe, has witnessed a considerable drop in its currency as the crude oil price is reaching almost a week of declines, as concerns regarding the global slump may slash global energy demand for the next months. The Russian Ruble has been affected directly by the latest fall in the crude oil rates, which after rallying as the global economy showed several signs of recovery, faced yesterday the longest … “Ruble Drops as Crude Oil Rates Continue Decline”
Australian Dollar Hits Two-Week Low on Jobs Data Speculations
The Australian dollar, one of the main high-yielding currencies among the 16 most traded, has been witnessed a sharp decline since last weeks new wave of pessimism struck equities and commodities markets. Since last week the Aussie entered a significant downtrend mainly against the yen and the greenback after a U.S. employment report indicated more-than-expected job cuts in the North American nation, suggesting that the global slump will still be the main world financial scenario … “Australian Dollar Hits Two-Week Low on Jobs Data Speculations”
Yen Leads Weekly Gains on Safety Demand
The yen is this week’s best bet among traders, as speculations that a weak U.S. corporate earnings to be posted this week made Japanese investors to sell overseas assets and repatriate their capital to the Asian nation. After negative news last week that brought risk aversion up in world markets, this Tuesday events provided support … “Yen Leads Weekly Gains on Safety Demand”
Canadian Dollar Down on Negative Stocks Perfomance
The Canadian currency, one of the most linked to stocks and commodities prices, had a weak performance today as stocks in Toronto and the crude oil fell, as concerns that the global slump will be prolonged are on the rise. The loonie declined today against half of the 16 most traded currencies as the crude oil continued to fall, on concerns that a longer recession will not provide a strong demand for energy in North America and in the global scenario. After a report … “Canadian Dollar Down on Negative Stocks Perfomance”
Pound Continues Drop as Demand for BoE Measures Rise
The pound entered its fourth day of losses against the dollar and the euro, after British financial sector calls Bank of England to expand its asset purchasing program to revive the faltering economy in the United Kingdom. The British Chambers of Commerce stated yesterday that the already expected economic recovery in Great Britain is not guaranteed and further measures should be taken immediately by the … “Pound Continues Drop as Demand for BoE Measures Rise”
Euro Falls After Luxembourg Minister Statement
The euro, which until last week was rallying against currencies like the greenback and the yen, started this week losing versus virtually all majors, after speculations that European Union officials will reaffirm that the recession is far from being over. The euro entered a downtrend since last Friday when concerns rose amid traders that the … “Euro Falls After Luxembourg Minister Statement”
South African Rand Continues Fall on Recession Pessimism
The South African rand, which was the best performing currency in the first quarter among the 16 most traded currencies, thanks to a wave of risk appetite, fell for the third day in a row, as pessimism increases risk aversion, damping demand for high-yielding emergent markets currencies. After a wave of international negative news that affected the South African currency last week, the rand started this session with a downgraded outlook as a report today indicated … “South African Rand Continues Fall on Recession Pessimism”