The Japanese currency gained against all 16 most traded currencies as economic concerns continue to rise around the world, causing another day of losses in stock markets, and spurring demand for the safety of the yen. After a World Bank report indicating that the recession will be deeper than previously imagined, equities markets had a negative performance in different continents and risk aversion is back among … “Yen Rallies Against Main Currencies on Increased Safety Demand”
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Pound Falls on U.K. Home Prices Drop
The British pound fell against the U.S. dollar as a report indicated the first fall in U.K. home prices in five months, increasing risk aversion towards the pound sterling outlook. The pound had another day of losses as stocks declined snapping the previous days gains, adding pessimism to the already nebulous equities markets scenario. Rightmove … “Pound Falls on U.K. Home Prices Drop”
Yen Rises as Crisis in Iran Deepens
The yen, considered as a refuge investment for moments of instability, rose as the political crisis in Iran deepens, creating tension in the international financial scenario. The Japanese currency started this weeks session stronger than all of the main traded currencies due to rising concerns about the political crisis around the eventually irregular elections in Iran, which resulted so far in 17 casualties in popular protests since the riots … “Yen Rises as Crisis in Iran Deepens”
Iran Election Crisis Supports Dollar
The ongoing crisis in Iran is worrying the whole world and ignites fears. Risk aversion may cause investors towards the US dollar, especially after the escalation in the situation this weekend. Escalation in Iran Election Crisis Iran’s election on June 12th had a very controversial outcome, to say the least. The authorities quickly announced Mahmoud … “Iran Election Crisis Supports Dollar”
Canadian Dollar Falls as Stocks Decline
The loonie had a third week of losses as a fall in U.S. stocks and crude oil decreased the attractiveness for the high-yielding profile of the Canadian currency. Canada is one of the world’s most important commodity producers, and being the U.S. its main exporting destination, a fall in their main stock indexes affected directly the outlook for the Canadian currency. Since signs of economic recovery started to appear two months ago, the price of crude oil and equities market around … “Canadian Dollar Falls as Stocks Decline”
EU Summit Optimism Weakens Dollar
The US dollar had a strong week, with a strong start. It later weakened but remained higher than other currencies. The EU summit optimism erased the gains near the end of trading. The US dollar had a strong start to the forex trading week. Two unexpected geo-political developments helped the dollar. The Russian renewed backing … “EU Summit Optimism Weakens Dollar”
Yen Returns to Fall as Stocks Continue Rally
The yen had another day of losses as equities markets around the world rebounded, damping demand for the Japanese currency as a refuge, and making high-yielding currencies to climb. The first solid signs of economic recovery in the European Union were confirmed by its leaders which will no longer take measures to stop the worst economic recession in the region in 50 years, making the yen to lose against the euro after the first days of positive performance in a month. Commodity linked currencies … “Yen Returns to Fall as Stocks Continue Rally”
Chilean Peso Hits Nine-Month High on Foreign-Exchange Selling Plan
A Chilean government plan is likely to continue to push the national currency up, as it will sell $40 million daily in the Foreign-Exchange market, boosting confidence for the South American currency. The Chilean government affirmed in June 15 that a plan for economic stimulus will sell $4 billion dollars in $40 million allotments, as an effort to increase the influx of international assets to the South American economy. The current $4 billion program will follow a previous one which started in March offering daily $50 million in the forex … “Chilean Peso Hits Nine-Month High on Foreign-Exchange Selling Plan”
Pound Slides on Unexpected Negative Data
Retail sales dropped in May for the first time in three months, a fact that was not predicted by analysts, weighing negatively on the pound outlook for this Thursday making it to lose ground against the greenback and the euro. The United Kingdoms Office for National Statistics affirmed that retail sales fell by 0.6 percent, the first fall in three months, since signs of economic recovery started … “Pound Slides on Unexpected Negative Data”
Brazil’s Real on Two-Weeks Low After Weak Economic Data Release
The Brazilian currency dropped to the lowest level in two weeks after weak global economic data decreased confidence among investors, attracted by safety and damping demand for commodities and emergent markets currencies. Brazils real together with the South African rand were two of the best performing currencies favored by signs of economic recovery which started to appear in April, spurring demand for high-yielding positions and decreasing risk aversion which was at a extreme high level, … “Brazil’s Real on Two-Weeks Low After Weak Economic Data Release”